Buy Back Undertaking Policy

MetCon’s Guaranteed Buy-Back Undertaking – Fantastic News for Investors!

We are proud to announce that we have revised our Buy-Back policy for products made by us. Regardless of market conditions, MetCon guarantee to repurchase your products at any time you request so long as it has the Buy-Back logo as a feature of the product. Our undertaking is structured to make it both easy and transparent for you to sell your MetCon products back to us at favourable market rates. We believe that MetCon has the best overall Buy-Back deal currently on offer within South Africa!

How is MetCon able to offer such an attractive undertaking?

This is due to MetCon being both a refiner and a trader in the international precious metals market. Further, MetCon’s sophisticated refining technology, coupled with the significant volumes traded globally, make it possible for MetCon to share these efficiencies with you.

What is unique about MetCon’s Buy-Back undertaking?

MetCon’s customer and investor-centric approach delivers three innovative benefits:

Utmost transparency

Our policy regarding pricing on the re-purchase of our products is openly published, disclosing all the terms and conditions of our undertaking. This allows you to be fully informed about your decision to sell your products back to us.

Guarantee of Buy-Back:

We will Buy-Back any quantity of product purchased from us at any time as long as it has the Buy-Back logo as one of its features. This means you will always be able to convert your precious metal investment into cash within 72 hours subject to our transparent terms and conditions.

Unique identification::

Our new generation minted bars come in tamper-resistant packaging that contains a unique 3D barcode/QR code. Consequently, through our website you are able to:-

  • Verify the details of your minted bar – when it was made and other relevant information
  • Prove the authenticity of your ownership
  • Obtain real-time details of the Buy-Back rate

This online option is only available on MetCon’s current generation of products.

What prompted MetCon to revise their Buy-Back Undertaking?

After prolonged pressure from MetCon and the Jewellery Council, SARS has agreed to amend their regulations relating to VAT and have released a new Binding General Rule regarding the input tax on VAT. Previously, only Krugerrands were VAT exempt. Although VAT is levied at the time of the purchase, MetCon is now able to re-purchase the minted bar/s at a premium equal to the VAT portion to compensate for the VAT initially outlaid.

MetCon has decided to make it even more attractive for investors by offering to re-purchase their minted bar/s at the prevailing spot price, less a small handling and administration fee. This combined with all MetCon’s other sales and re-purchase conditions creates what we believe is the most compelling offer of its kind in the Country.

This undertaking relates to Gold, Silver, Platinum and Palladium, at slightly different fee structures for each metal – but as always, openly published and transparent.

How exactly does it work?

Here are the details of the Buy-Back process:-

  • Our Guaranteed Buy-Back undertaking has been structured to make selling your Gold, Silver, Platinum and Palladium minted bar/s as simple, informed and easy as possible
  • As MetCon is able to track all bars sold into the market using its serial numbers, we are able to instantly authenticate to whom the bar was sold and verify who is selling back.
  • MetCon disclose exact details of our Buy-Back undertaking openly and transparently on our website which is linked to the prevailing spot price for the precious metal.
  • You, our valued investors, are continuously kept informed of the Buy-Back rate throughout the period for which you hold the investment. This allows you to select the most appropriate timing to suit your needs and circumstances.
  • MetCon undertake to Buy-Back any quantity of minted bars that have been sold by us or our distributors into the South African market – there is no restriction whatsoever on the quantity that you wish to sell.

What are the steps in the Buy-Back process?

Applicable to minted bar/s in original tamper-resistant packaging:

  1. Should you want to ‘lock in’ and fix the price for your bar/s before shipping to us, you may telephonically contact us prior to receipt of the bar/s at our premises to discuss and fix the price;
  2. Should the packaging not be damaged in any way, and it passes the Quality Control process, the bars can be placed for recirculation;
  3. All returned minted bar/s will carry a handling/refining/administration fee, depending on its condition;
  4. The price will be determined and calculated at the prevailing rate on www.thebulliondesk.com or MetCon’s own website (updated LIVE);
  5. A copy of the original invoice and a copy of your ID at the time of reselling must be provided;
  6. You will be responsible for all costs associated with receipt of the minted bar/s at MetCon’s premises either in Gauteng or Cape Town;
  7. MetCon will arrange a courier to collect the minted bar/s as soon as practically possible, after your notification to sell. The courier cost will be deducted from the principal amount in our buy-back offer. You are responsible to ensure that the product is packed carefully and securely so that it does not get damaged during the transportation. Damaged bars will be re-smelted and the additional refining charges will be deducted from the principal amount in the buy-back offer;
  8. Should you wish to deliver, rather than courier the bar/s, you must liaise with MetCon to arrange a suitable collection venue, date and time.
  9. In either case the risk remains with the owner until it is safely and properly received at MetCon’s premises either in Cape Town or Centurion.
  10. MetCon will make payment into your designated bank account within 72 hours after receipt of the bars (excluding non-business days).

The guaranteed Buy-Back Undertaking applies only to MetCon minted products. Gold, Silver, Platinum or Palladium products not manufactured by MetCon will only be purchased through our certified suppliers and includes stringent conditions to verify the origin of the minted bar product. Minted bar products not manufactured by MetCon may be purchased subject to agreement on the handling/administration/refining fee for these products.

MetCon’s Guaranteed Buy-Back Undertaking is based on the current applicable legal regulations and obligations that apply to transactions of this nature. Should these regulations and obligations be amended, or circumstances change, MetCon reserves the right to adjust the Buy-Back Undertaking to accord with this – but always with adequate notice to you, the customer.

If you have any questions about our Guaranteed Buy-Back Undertaking, please contact:

Melynda Ward on (021) 000-5077
Or e-mail us on bars@metcon.co.za

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