FAQ Precious Metals

Although the weight of gold and silver is sometimes quoted in kilograms or grams, the official weight measurement to gauge the mass of precious metals is the troy ounce. One troy ounce (oz) equals 31.1034768 grams. Note that a troy ounce is not the same as an avoirdupois ounce (more commonly known as the kitchen ounce) which equals approximately 28.34 grams.

The purity of gold and silver is measured in millesimal fineness, which denotes the purity of the metal in parts per thousand. For example, the PAMP 100 gram gold bar contains a gold fineness of 999.9, which means that the bar is 99.99% pure gold. Another example, the $20 Double Eagle with a gross weight of 33.43624 grams contains a gold fineness of 900, which denotes a gold purity of 90% or 33.43 x 0.9 = 30.092 grams of pure gold.

In addition to fineness, the traditional purity measurement of gold is the karat (K). The highest karat rating is 24 and this equals or is greater than 99.9% pure gold. Gold jewellery in Europe most often contains a gold purity of 14 and 18 karats, which equals 14/24 = 58.3% and 18/24 = 75% pure gold respectively.

The spot is the current market-clearing price of gold or silver that is set by factors of supply and demand in the global financial markets. The spot price refers to 1 troy ounce of .999 fine gold or silver.

The bid (or buy as a layman’s term) is the price at which market participants, such as Tavex, are ready to buy gold or silver at any given time.

The ask (or sell as a layman’s term) is the price at which market participants, such as Tavex, are ready to sell gold or silver at any given time.

The spread is the difference between the ask and the bid price. For example, if the bid for a 1 ounce Gold Philharmonic is €1000 and the ask price is €1040 then the “bid-ask spread” is €40. A low bid-ask spread is often a good indicator of high liquidity. Products with high liquidity, such as the Gold Philharmonic coin, will have a lower bid-ask spread compared to other less well-known gold coins, which means that you, as an investor, will save money when trading in and out of your investment.

Every product that Tavex sells comes with a premium. A premium is added to cover the cost of the fabrication and distribution of the item. The premium is calculated by taking the price of a product minus the spot price of the metal. For example, if the current spot price of gold is €1020, and if Tavex sells a 1 ounce Gold Philharmonic for €1070 then the premium is €50.

As fine gold coins and bars are extremely soft, they can very easily be damaged. Product’s value is decreased when gold is scratched, bent or the original package has been opened.

Do not remove coins or bars from their package (plastic capsule, vacuum pack) unless it is absolutely necessary.

1. Always pick up coins and bars only by their edges.
2. Never touch gold anywhere on its surface as fingerprints may reduce the value
3. If you need to touch gold products, it advisable to wear white, clean cloth gloves.
4. Never try to bite gold to test its softness.
5. Try not to let one coin touch another as nicks and scratches can result.
6. Do not drag coins across any surface.

When removing coins from a holder is necessary, place them on a clean, soft surface. A velvet pad is an ideal surface.

PS! The above applies mainly to new gold coins and bars. Many historical gold coins have been in circulation and are therefore scratched and nicked. Gold market value has preserved in spite of that.

Every invoice has a unique sum and therefore we do not usually have any problems matching your payment with your order. But we recommend that you inform us if this problem occurs on +358 9 68 149 149 or by email at .

The client, the payer and the recipient must be the same person, whether you pay by bank transfer or debit/credit card.

The order will automatically be cancelled if payment is not made within one hour of placing the order. If you want to cancel your order, please call us on +358 9 68 149 149 or by email at .

It is not possible to order on your own products with the stock status “arrival unknown” in the online shop. We recommend you call us on +358 9 68 149 149 or by email at about a possible order.

We need your date of birth to be able to confirm that the client and the receiver are the same person.

We send all our products within the EU. Please call us on +358 9 68 149 149 or by email at for more information.

Tavex is part of the Tavex Group which operates in eight countries (Sweden, Denmark, Norway, Finland, Poland, Bulgaria, Estonia and Latvia). The Group is Northern Europe’s largest dealer of precious metals and thus handles vast amounts of products. In addition, we are partners with well-known companies such as Valcambi, PAMP, the Perth Mint, the Austrian Mint and China Great Wall Coins Investments from whom we obtain our products. Therefore, we are able to offer extremely competitive prices.

For orders over 10 000 euros please call us on +358 9 68 149 149 or email us at to discuss even better prices.

Tavex is also a wholesaler of precious metals to other retailers. Every contract is tailored to the individual client. If you are a company that is interested in working as a reseller of Tavex’s products, please call us on +358 9 68 149 149 or by email at .

Tavex is a serious market player and therefore we consider it very important not to sell products we do not currently have in stock.

Investment gold has been sold without VAT since 1 January 2000 within the EU. Investment silver coins and bars carry 24 % VAT in Finland.