Gold and Silver FAQ
Straight answers to what customers actually ask us at the counter. If yours is not here, get in touch and we will answer it.
Buying gold in Singapore
What is the minimum amount of gold I can buy?
We stock from 1 gram upward. A 1g bar is the usual starting point for a first purchase. Smaller bars carry a higher premium per gram because the refining, assay card and packaging cost roughly the same whether the bar is 1g or 100g. If you are buying purely for value, larger bars cost less per gram.
What does "999.9" mean?
It is the purity, expressed in parts per thousand. 999.9 means 99.99% pure gold, or four nines. This is the standard for investment bullion bars. You will also see 999 (99.9%) on some silver, and 916 (91.6%, or 22 karat) on jewellery. 916 is not investment-grade bullion; it contains alloy metals for hardness.
Which refiners do you carry, and does the brand matter?
We stock PAMP Suisse, Valcambi, Argor-Heraeus, Heraeus, Metalor, the Royal Canadian Mint, the Perth Mint, the Royal Mint and others. All are LBMA Good Delivery accredited, which means their bars are accepted worldwide without re-assay.
For resale, brand does matter. A PAMP or Valcambi bar in a sealed assay card is recognised by every dealer in Asia and typically sells back faster than an unbranded or unfamiliar bar.
What is the "spot price" and why is your price higher?
Spot is the global benchmark price for one troy ounce of unfabricated gold. A physical bar costs more than spot because someone has to refine it, stamp it, seal it in a tamper-evident assay card, insure it, ship it and hold it in stock. That difference is the premium. Our prices move with the market throughout the day.
Paying and receiving your gold
How can I pay?
PayNow, cash at our counter, and credit or debit card. PayNow is our preferred method for larger orders. It clears instantly, there are no card fees, and it means we can release your metal faster.
Do you deliver?
Free islandwide delivery within Singapore, with no minimum order value.
Cash orders are not eligible for delivery. If you wish to pay by cash, please collect your order at our Sim Lim Tower counter.
Can I collect in person?
Yes, and most customers do. We are at 10 Jalan Besar, #B1-19/20, Sim Lim Tower, Singapore 208787, open 10.30am to 8pm, seven days a week. No appointment needed. Online orders are usually ready for collection within 24 hours.
Do I need to bring identification?
Please bring your NRIC, FIN or passport when collecting in person or when selling to us. FAZ GOLD PTE. LTD. is registered with Singapore's Ministry of Law as a precious stones and precious metals dealer (UEN 202323906C), and verifying identity is part of how a registered dealer operates. Your documents are handled under Singapore's Personal Data Protection Act and are never shared for marketing.
Selling your gold to us
Do you buy back gold you did not sell me?
Yes. We buy gold bars, coins and jewellery regardless of where you bought them, as long as we can verify the metal.
How do you decide what to pay me?
We publish our own buyback rates and update them through the day as the market moves. Your figure depends on three things: the purity of the item, its weight, and its form. A recognised bullion bar still sealed in its assay card is worth more to us than scrap jewellery, because it can be verified quickly and resold as it is. You can see current rates and run an estimate on our buyback page.
Will I get more for a sealed bar than for jewellery?
Yes, considerably. A sealed 999.9 bar from a known refiner can be verified in minutes and resold as it is. 916 jewellery has to be tested, weighed and eventually refined, and it contains roughly 8.4% non-gold alloy, so you are paid on the actual gold content rather than the gross weight.
How fast do I get paid?
Same visit. Bring your items to the counter, we test and weigh them in front of you, and you are paid on the spot by cash or PayNow once you accept the quote. There is no obligation to sell if you do not like the number.
What should I bring?
The items, and your NRIC, FIN or passport. Original assay cards, certificates and receipts help but are not required.
What does "Multiple LBMA Brands" or "Random Design" mean?
A few items are sold on weight and purity rather than by a named refiner. You will receive a bar or coin from an LBMA accredited refinery, but which brand depends on what is in stock that day. We will tell you exactly which brand is available at the time you order, before you pay.