|Doing Business with Only Gold
Only Gold Inc. and CMI Gold & Silver Inc. have merged. You will continue to receive the
same great service as you did before, and you will now have access to more silver products. Only Gold will
continue to operate under that name. The only notable differences are in the payment and shipping details.
For more information on the merger please visit our “About
Locking in Prices
Because gold and silver prices change by the minute, all orders must be placed by telephone so that prices
can be locked in at the prevailing market. For buy orders, payment must be remitted promptly from when the
trade is placed. For sell orders, the items sold must also be shipped promptly from when the trade is placed.
During periods of high volatility, and for large orders, we may require that funds be on deposit with us before
prices can be locked in.
Methods of Payment
PAYMENT BY CHECK
Only Gold accepts payment by check, either personal or cashier’s check. Checks need to
be payable to CMIGS. For checks less than $25,000, there is a 5 business day hold before the order is released
for shipping. For checks greater than $25,000, there is a 10 business day hold before the order is released for
Persons familiar with cashier’s checks may ask why there is a hold when the money is pulled from their
accounts at the time the cashier’s checks are purchased. Few banks will verify that checks have cleared;
therefore, we allow time to make certain that the check has cleared. Further, there is the concern of fraudulent
checks, which is not uncommon in the precious metals industry.
PAYMENT BY BANK WIRE TRANSFER
Payment by bank wire transfer allows for quick shipping, and often means that your order can
be shipped within 24 to 48 hours. Payment by wire transfer means allowance must be made to send the wire before
the wire cut-off time, which is 5:30 pm ET, 4:30 CT, 3:30 MT and 2:30 PT at most banks. Some banks will not initiate
wires with less than thirty minutes before the wire cut-off time.
Before calling to place an order, please determine your bank’s wire
transfer procedures. Most banks require the wire instructions documents to be signed in person. Yet some banks
accept faxed documents. Only a few banks accept wire instructions by phone.
Investors considering more than one precious metals investment may want to see if their banks
provide convenient phone, fax or Internet bank wire services. Nowadays, many businesses initiate wire transfers
from their office computers.
Ultimately, payment by bank wire transfer enables us to provide the best service. We start the
shipping process as soon as the wire is confirmed, which means that the order often is received by the buyer
within a week or so of the order being placed, depending on how far you live from Phoenix, Arizona.
During periods of high activity, shipments can be delayed. When we anticipate delayed shipments,
we will inform buyers at the time orders are placed.
Wire transfer instructions are provided when orders are placed.
During periods of high volatility, we may require that funds be on deposit with us before prices
can be locked in.
When payment is received, an email is sent to the buyer along with the estimated date of shipment. A copy of
the invoice will be included in the shipment. If you prefer, notification can be by phone instead of by email.
When an order is shipped, the buyer is notified by email (or by phone if preferred) and provided a tracking number
along with the estimated date of delivery.
If you are interested in selling gold or silver, visit our page dedicated to selling
gold and silver. Both Only Gold and CMI Gold & Silver Inc. are one of the nation’s oldest precious
metals dealers and stand ready to buy most gold, silver, platinum and palladium bullion products.
Brokers take orders Mondays through Thursdays, 7:00 a.m. to 5:00 p.m. MST. Fridays are shorter days due to the
markets closing for the weekend early. It is recommended to call in before 3:00 p.m. MST on Fridays.
Any time you get a recording when calling us, it means either our lines are overloaded or that
you are calling afterhours. In such cases, please leave your name and phone number and we will return your call.
If you do not hear back from us as quickly as you would like, we encourage you to call again.
The minimum orders for bullion purchases at Only Gold and CMI:
- three ounces of gold
- three ounces of platinum
- five ounces of palladium
- 100 ounces of silver
Although the minimum order for silver bullion is 100 ounces, the
minimum order for junk
silver coins is $100 face, which
is 71.5 ounces of silver.
Additionally, our Gold Specials Page sometimes
carries offers of gold bullion less than three ounces, and our Silver
Specials Page sometimes has offers less than 100 ounces.
MAIL CHECKS TO:
3800 N. Central Avenue
Phoenix, Arizona 85012
We do not accept credit cards or debit cards.
We do not accept third party checks.
We do not accept checks drawn on foreign banks, not even Canadian banks.
We do not accept payment by cash in any amount.
Shipping, Handling, and Insurance
For orders less than 10 oz. of gold or platinum, 15 oz. of palladium and 500 oz. of silver, there is a $30 flat
rate shipping, handling and insurance fee. Shipping, handling and insurance is free for any quantities greater.
Methods of Shipment
Orders valued less than $50k can be shipped by either Registered, insured U.S. Mail or insured UPS. Orders that
can be shipped in a single package, that are valued greater than $50k can only be shipped by Registered, insured
U.S. Mail (this usually applies to larger gold orders). In some cases, larger orders can be shipped via Brinks
armored car delivery.
When orders are shipped, we notify the buyer by email (or by phone if preferred). Additionally, a tracking number
is provided, which enables the buyer to verify date that the carrier estimates delivery.
Note: Some products shipped to Hawaii and Alaska may require additional cost.
Shipping Gold and Silver to Only Gold and CMI
When sending gold and silver to us, always ship via Registered U.S. Mail.
In most cases, using the Post Office’s Flat Rate boxes is most economical. Registered mail is the safest
and most secure way to ship valuables across the U.S., as the Post Office rarely loses a registered package.
Always declare the value rounding up to the nearest thousandth and insure it for that amount, because if your
shipment is that rare one that gets lost, you will be covered. The Post Office offers Federal insurance that
covers up to a declared value of $25k with their Registered Mail service.
In cases where someone is shipping precious metals to us that has a value greater than $25k, but can still fit
in a single package (this usually applies to larger gold orders, i.e., kilo gold bars), Only Gold and CMI has
a secondary insurance policy that covers your package up to $225k. This additional coverage is enforce as long
as the package is sent Registered U.S. Mail with a declared value of $25k and that the package is properly addressed
Flat Rate boxes are free at your local Post Office. The boxes are sturdy enough to handle gold,
but for silver the boxes need to be reinforced.
For tips on packaging silver for shipment, view our slide presentation How
to Ship Silver
CMI has dealt with the same bank since 1973. Bank and other references are available on request.
We strive to ensure client confidentiality. We do not sell or share our customers’ names, and we do
not computerize transactions. Not putting transactions on a computer protects our clients from record theft.
At Only Gold and CMI, we recognize the importance of keeping precious metals transactions as
private as possible; therefore, we require no account set-up, no account agreement to sign, and no credit card
or social security numbers to secure your trades.
Furthermore, we do not put clients’ names on invoices, thereby providing
even more investment privacy. This became policy in the mid-1970s as CMI pioneered the bullion precious metals
industry in Phoenix.
Please call with any questions about doing business with Only Gold and CMI.
If you have what you think is a straight forward question and want to use email, send it to: firstname.lastname@example.org.
You will be pleasantly surprised that our brokers do not start the conversation
by asking for your phone number but rather by answering your questions. We do not need your phone number unless
you place an order with us. CMI Gold & Silver Inc. has been buying and selling gold and silver bullion
since 1973. You will find us pleasant and easy to do business with.