Frequently Asked Questions
LIVE SPOT PRICE AND OWNX BASE PRICES
“Sell Now – Live” : by selecting this tab you will sell at the live price that is quoted to you.
OWNx CASH ACCOUNT
1. From your bank account via ACH.
2. Via wire transfer (typically for larger amounts).
3. By selling metal held in your account.
REDEMPTION – PHYSICAL DELIVERY
Select which account and click “OK”
Specify the quantity of each form you want shipped to you
Scroll to the bottom of the page click “Submit Order”
After reviewing your delivery order click “Submit Delivery Order”
For other items that have an additional cost for us to obtain, there is an exchange cost. A vast majority of this cost is for the fabrication or premium for that specific item. For example, if the market price for silver is $20 per troy ounce and American Silver Eagles cost $3.00 per troy ounce for us to obtain, that is a 15% additional fee that we merely pass along to you. The remainder of the exchange cost includes shipping, handling and insurance.
The exchange cost is currently paid as an additional amount of metal added to your delivery transaction.
PRIVACY and SECURITY
This is how OWNx operates. Allocated silver or gold is very simple. The metal is held on behalf of the account holder under a custody agreement. It is held at a depository titled in your name as your outright property. The metal is neither the property nor liability of the depository. With this type of agreement it is not subject to any third party creditors. You initiate every transaction via OWNx.com. At the time the transaction is completed, ownership transfers from OWNx to you and is held in custody at First State Depository, until at your instruction you decide to sell the silver back or initiate delivery exclusively via OWNx.com.
OWNx does not operate using pool accounts, though others do. In a pool or “unallocated” account the account holder does not have title to the silver or gold he/she has “purchased.” Rather, in reality what the investor has “purchased” is an asset or claim to a certain amount of silver or gold. So essentially, in an unallocated account you are promised a defined amount of silver or gold. (“Your” metal is simply a liability on the balance sheet of the bank or company). There may or may not be physical metal held to back the purchase and if there were it could conceivably be leased out to generate interest for the bank or company with the expectation of it being returned if needed. What this means is, you could find yourself standing in line with all of the other unsecured creditors in the event of financial problems or insolvency of the purveyors of this type of account.
– The first page of the trust agreement
– Signature page
– Government Issued ID
Once we review the documents we will email to let you know we have received them or if further information is needed.
If your question was not answered above, please give us a call at 800-701-3546, or email us at email@example.com.