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Information for purchasing gold

Information for purchasing gold FAQ: the most frequently asked questions

Why is there no right of withdrawal for a confirmed order?

The prices of precious metals are subject to fluctuation for which OROvilla buys or sells from the market the same quantity present in the purchase or sale reservation in order to be able to cover the risk of price fluctuations and guarantee the price entered independently by the Customer and confirmed by an operator of OROvilla. If the Customer cancels the order, OROvilla would suffer economic damage as a result of the imbalance of the financial coverage in purchase or sale. Taking a practical example and assuming a 1 kg gold ingot and therefore its current value: if the customer wanted to buy that ingot, OROvilla would buy the same quantity on the market in order to be able to produce the ingot itself and ship it to the customer. . If the Customer cancels the order after the order confirmation and therefore after OROvilla has paid the same quantity / value on the market to the respective suppliers / customers, he would suffer economic damage. Among the professional operators who deal with the trading of precious metals it is FUNDAMENTAL the respect of the tacit convention that when the price is FIXED and the RISK OF OSCILLATION is therefore BLOCKED, the duty of both operators is to honor the agreement. And so OROvilla respects its commitments towards customers and expects the same responsibility from its customers. Mutual trust is a precious value!

What are those small incisions on the back of your ingot?

They are trademarks, mandatory under Italian law, that every goldsmith manufacturer must mark his product in order to put it on the market. One is legal purity and each precious metal has its own specific identification mark such as size and design (a lozenge, an oval, etc.). The other is the recognition mark of the actual manufacturer, in fact OROvilla, division of the 8853 S.p.A. group, is 1748MI. In addition to these two brands, further commercial brands are admitted, such as, for example, our MARIO VILLA logo, a symbol of guarantee for over 60 years on the Italian market.

What kind of gift box is there?

All the products we produce are sealed in warranty blisters with our corporate and commercial brands listed. The gold coins are also sealed in the same guarantee blister with our corporate and commercial brands listed, while the ingots produced by international manufacturers such as Heraeus remain in the original blister of the manufacturer.Ingots and Coins are packaged in black cardboard boxes or in black velvet bags branded Mario Villa. On request we can produce cardboard boxes that the customer can customize with the help of our online configurator. The range of packages that Orovilla offers has been extended to ecological wooden frames and a special ecological wooden case to protect and collect ingots or coins. Orovilla aims to reduce plastic from packaging and propose ecological materials.

Can I proceed only through the website?

No, it can come directly to our offices but an appointment is required. We advise you to perform the operation online to avoid going to our counter located in Pero (very convenient for those arriving by car from highways and ring roads) and in the center 100 meters from the Cathedral of Milan, especially for customers who live far.

What is the Trading Department?

The Trading department is a company that has all the legal requirements to be considered among the «Professional Gold Traders». OROvilla, which is a division of the 8853 SPA group, is a Professional Gold Operator authorized by the Bank of Italy with number 05000211 and is a manufacturer with the 1748MI identification mark issued by the Metric Office of the Chamber of Commerce of Milan Monza Brianza and Lodi .

What guarantees me that the operation complies with the legal and transparent requirements?

OROvilla, which is a division of the 8853 SPA group, is a Professional Gold Operators authorized by the Bank of Italy with number 5000211 and our operations comply with ISO 9001 standards and are certified and controlled by the Bureau Veritas, a company French of world importance in the assessment and analysis of risks related to quality, the environment, health, safety and social responsibility. In addition to this, we have implemented our general policy with the sustainability project by obtaining the voluntary «Code of Practice» certification of the «RJC» (editor's note Responsible Jewellery Council, which is a non-profit organization founded to promote responsible practices from a ethical, social and environmental view, which respect human rights, along the production chain of Precious Diamonds and/or Gold, from extraction to sale and groups over 400 companies among the most important worldwide representing the entire supply chain gold, from the mine to large jewelry manufacturers such as Cartier, Bulgari, Tiffany, etc.

Can a private individual freely purchase and hold gold bars and coins?

With the Italian law n. 7 of 17 January 2000, Italy has aligned itself with European legislation, namely Council Directive 98/80 / EC of 12 October 1998. A private individual can freely purchase and hold investment gold << ... meaning by this the gold in the form of ingots or plates of weight accepted by the gold market, but in any case greater than 1 gram, of equal or greater purity at 995 thousandths, represented or not by securities; gold coins of purity equal to or greater than 900 thousandths, minted after 1800, which have or have had legal tender status in the country of origin, normally sold at a price that does not exceed 80% of the value on the free market of the the gold contained in them, included in the list drawn up by the Commission of the European Communities and published annually in the Official Journal of the European Communities, C series, as well as the coins having the same characteristics, even if not included in the above list; the decree of the Minister of the Treasury, the Budget and Economic Planning establishes the methods for transmitting information to the Commission of the European Communities on the coins traded in the Italian State that meet the aforementioned criteria; ... >>

Which companies are authorized to buy and / or sell «investment gold» or bullion and coins?

Italian law identifies that only Professional Gold Traders authorized by the Bank of Italy are authorized to buy and sell investment gold on a professional basis. The subjects must have previously communicated to the Bank of Italy in the manner provided for by art. 5 of the UIC provision of 14 July 2000 and meet the following requirements: 1) legal form of joint-stock company, limited partnership company, limited liability company or cooperative company, having in any case fully paid-up share capital not lower than the minimum required for joint-stock companies. 2) corporate purpose that indicates the activity of the gold trade as defined by art. 1, paragraph 1, of the Law of 17 January 2000 n. 7. 3) possession, by the participants in the capital, of the directors and employees vested with technical and commercial management functions, of the integrity requirements provided for in articles 108 and 109 of the Consolidated Law on banking and credit laws, issued with Legislative Decree September 1, 1993, no. 385 and by the implementing decrees of the Ministry of the Treasury no. 516 and 517 of 30 December 1998. Operators who purchase gold for the purpose of earmarking it for their industrial or artisanal processing or entrusting it, exclusively for processing, to a holder of the identification mark referred to in the legislative decree of 22 May 1999 are excluded from the discipline referred to in paragraph 3, n. 251.

What should precious metal ingots look like?

The ingots of Italian producers such as OROvilla (division of the 8853 SPA group) must bear the recognition mark of the producer (ours is 1748MI) and the title of the precious metal (in the case of our gold ingots it is 999). Our ingots are sealed in special guarantee blisters bearing our corporate and commercial brands.

Are gold bars and coins easy to sell?

Of course! Gold bars can be resold at any time only to Professional Gold Operators authorized by the Bank of Italy as OROvilla - division of the 8853 SPA group - which is a recognized operator with number 5000211. It is possible to resell directly online and from the comfort of your own home or at one of our offices but only by appointment, which can be booked directly online.

What are the most resellable coins?

OROvilla repurchases all the gold coins issued by the world mints, whether they are sold by us or by other professional gold operators. However, the most resellable coins are those best known as the Sovereigns or the Krugerrand or the Mexican Pesos or the various Dollars (mainly the American, Australian and Canadian ones). By writing to us via email at orovilla@orovilla.com or by sending us photos via WhatsApp at 3346267670, our experts are always available for ad hoc estimates and / or clarifications regarding your coins.

Is it the right time to buy gold? Better bars or coins or a gold account?

If the purchase of GOLD is like accumulation over time to create a treasure on which to rely in case of need and therefore immediately convertible into money, then it is always the time to buy. Over the years, prices have shown that gold is a reserve of value that maintains purchasing power, while in the short term it is normal for there to be decreases in prices. For our part we will always be ready to buy back! We also give free advice to customers by OROvilla specialists to talk about the importance of investing in gold and we organize TALKS where financial analysts from outside the company and respected in the world of finance intervene (https://www.orovilla.com/ blog / talk /) and, every month we publish the economic section ORONEWS (https://www.orovilla.com/blog/oronews/).

Where can I put the gold purchased from you? Do you have a custody service?

All our gold bars and coins are easy to store, such as our 1Kg gold bar is as big as an iPhone, so you can deposit it wherever you want, such as a bank safe or a home safe own, but we recommend depositing in our vaults by activating our safekeeping service. To activate the service is very simple! You can do it directly during the purchase phase if you already have in mind to leave it in storage with us (in this case, to save money we recommend activating our gold account) or by writing to us and going to our offices by making an appointment directly online or even remotely using specialized couriers.

How come your prices are different from those found on the Sole 24 ore?

The price of precious metals indicated in newspapers or on official websites is the world reference price set daily by 4 members of the LBMA ( London Bullion Market Association ) in London since 1919 ( The Bank of Nova Scotia - Scotia Mocatta, HSBC, Deutsche Bank AG, Société Générale and Barclays Bank PLC ).
This price is set in $ US per troy ounce , since the euro has been in force, however, we can also find it expressed in this currency. The price called FIXING has a purely statistical reference value.
During the day the prices of precious metals then follow the indications of the world stock exchanges in Zurich , New York , Hong Kong and Singapore so that metal can be treated 24 hours a day and that large industries and manufacturers all over the world use to establish their selling and buying prices.
Each Precious Metals Bank then applies its own purchase and sale price, which takes into account the fees for management, property, insurance and processing.

What happens in the event of the death of the holder of the Custody contract and/or holder of the ORO VILLA account?

The legislation on inheritance tax applies, i.e. anyone who holds the assets of a deceased cannot hand over the assets held to the heirs, if proof of presentation of the declaration of succession with the indication of the credits and such assets has not been provided (Article 48 paragraph 3 of Legislative Decree 346/1990). The declaration of succession is nothing more than a relevant document for tax purposes, with which the heirs precisely identify the inheritance assets and the distribution of the shares due to each. This declaration is always mandatory, except in the case where the inheritance is devolved to the spouse and relatives in a straight line of the deceased and the hereditary assets have a value of less than one hundred thousand euros and do not include real estate or real estate rights. Therefore OROvilla is obliged by law to receive a copy of the declaration of succession if the hereditary estate exceeds one hundred thousand euros; otherwise, if the inheritance is less than one hundred thousand euros, a written declaration on the failure to submit the declaration of succession. OROvilla, as the holder of the deceased's assets, is obliged by law to request such documentation from the heirs before proceeding with any dispositive act on the assets held. Furthermore, as regards the movable property and bearer securities of the deceased (also contained in safety deposit boxes) according to the law, the inheritance shares are presumed to be equally divided among the heirs, unless otherwise indicated in the declaration of succession (art.11 co.2 Legislative Decree 346/1990).

What are the delivery times?

Generally all orders are processed within the next 24 hours but in any case within 8 working days from receipt of payment by advance bank transfer, while orders where payment is contextual to collection at one of our offices, we generally send confirmation of the order ready within 24 hours from sending the order confirmation but in any case within 8 working days. If the customer has requested the shipment, we generally provide the shipment (insured and always guaranteed) within 48 hours after the order has been processed.

What is the difference between minted and cast bar?

OROvilla produces various types of ingots. Some are obtained with a fusion of pure raw material cast in a mold to measure, others are born from a process of lamination and shearing of very pure precious metal to obtain the mirror shape and subsequently marked with a coining process with a press that imprints the Mario Villa Milano brand and other details and finally, as a new product for 2020, others are produced from pure precious metal sheet that take shape and are cut thanks to laser technology. The difference is only visual (the first is more rough, the second and the third more squared BUT all are guaranteed in pure precious metal - 24 carats for gold and 999/1000 for silver - and all are produced and guaranteed by OROvilla, a division of 8853 SPA.

Is it possible to change your used precious objects, converting them into ingots or coins?

We confirm that we can regenerate your used precious items. For tax reasons, it is mandatory to manage in two distinct step. STEP ONE 1) insertion of the operation on the orovilla.com website: to sell> used gold> select carat weight> enter the weight (even indicative)> proceed with the checkout and complete with the data of the actual seller and possible pick-up location if different from the residence. 2) Our insured courier will be sent at our expense to collect the goods 3) Upon receipt of the goods, we will contact the actual seller to schedule the video interview which will be carried out exclusively on our ORObit platform in compliance with current regulations. 4) Following the video interview, we will send the official acceptance document. 5) After the 10-day administrative stop, we will merge - analyze - contact the actual seller to communicate the outcome and send the sales receipt for acceptance. 6) Following receipt of the signed document, we will pay to the current seller's current account within the agreed time frame and marked on the sales contract. STEP TWO 1) insertion of the operation on the orovilla.com website: to buy> select the category (gold bars, gold coins, etc.)> choose the desired product and enter the quantity in the cart> proceed with checkout and complete with the actual data Buyer required including shipping address if different from residence. 2) Following the insertion, the actual buyer will receive the order summary. 3) Following the review by our operator, we will send an order confirmation and further order progress emails will follow.

How can gold be an investment if my selling price is lower than your selling price ?

The price of precious metals indicated on newspapers or official sites is the world reference fixed daily by 4 members of the LBMA and, as we have specified in the FAQ em>Why are your prices different from the quotation found on the LBMA prices/em>, like any raw material, even precious metals have a delta between selling price and purchase price that is updated in real time on our site. In diversifying with PHYSICAL GOLD in ingots, coins, or accumulation plan, we must take into account that the best attitude is that of patience, being able to count on a product that will always provide immediate liquidity in case of need. With physical gold you have the assurance that the growth of value will certainly be there in time, that I will have maintained my purchasing power by facing any inflation and that obviously in the short or medium time I will always be able to take the best favor of the normal fluctuations in the prices of precious metals as shown by the graphs on the behavior of the price of gold over the years.You will certainly find some inspiration from the articles of our Blog https://www.orovilla.com/blog/oro-fisico-riserva-di-valore.html
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