These Terms and Conditions ("Terms") govern all transactions and relationships between Solomons Bullion (ABN: 62 856 278 773) ("Solomons Bullion," "we," "us," "our") and any person or entity that purchases, sells, stores, or otherwise transacts with us in relation to precious metals ("you," "Client," "Customer").
By placing an order, making a payment, entering our premises for the purpose of a transaction, or engaging our storage services, you agree to be bound by these Terms in their entirety. If you do not agree to these Terms, you must not proceed with any transaction.
These Terms are to be read alongside our Privacy Policy and our Shipping & Returns Policy, both of which are incorporated by reference and form part of our agreement with you.
Important — Investment Disclaimer
Precious metals are investment assets and their prices fluctuate continuously. Nothing on our website, in our marketing materials, or communicated by our staff constitutes financial product advice, investment recommendations, or any guarantee of future value. We strongly recommend that you seek independent financial advice before making significant investment decisions. Past performance of precious metals prices is not indicative of future results.
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Clause 1
Definitions
In these Terms, the following definitions apply unless the context otherwise requires:
Bullion
Physical precious metal in bar or coin form — gold, silver, platinum, or palladium — valued primarily for its intrinsic metal content and meeting applicable investment-grade purity thresholds.
Business Day
A day other than a Saturday, Sunday, or public holiday in New South Wales or Victoria (as applicable to the office location handling the transaction).
Confirmation
Written or verbal acknowledgement from us that your purchase or sale order has been accepted at the agreed price, creating a binding contract.
EFT
Electronic Funds Transfer — direct bank transfer between financial institutions via the NPP (New Payments Platform) or standard BSB/account number transfer.
Force Majeure
An event beyond our reasonable control including but not limited to: natural disasters, pandemics, acts of government, war, civil unrest, exchange closures, extreme market disruption, or systemic failure of banking infrastructure.
Live Spot Price
The real-time global market price for the immediate delivery of one troy ounce of a precious metal, as published by recognised market data providers from exchange trading on COMEX, LBMA, or equivalent venues.
Order
A request by you to purchase or sell a specified quantity of Bullion at an agreed price, which becomes binding upon our Confirmation and (for purchases) your payment.
Premium
The amount above the Live Spot Price charged on the sale of Bullion, reflecting minting costs, dealer margin, insurance, logistics, and market supply/demand conditions.
Storage Agreement
The separate agreement governing the terms on which we hold Bullion in allocated vault storage on your behalf, incorporating these Terms by reference.
Transaction Price
The agreed price for a specific purchase or sale, based on the Live Spot Price at the time of Confirmation plus applicable premiums (for purchases) or minus applicable spreads (for sales).
Website
The Solomons Bullion website at solomonsbullion.com.au and all associated subdomains and pages.
XRF
X-Ray Fluorescence — a non-destructive spectrometric testing method used to determine the elemental composition and purity of precious metals.
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Clause 2
Application of Terms
These Terms apply to all transactions conducted through or with Solomons Bullion, including but not limited to purchases via our website, telephone, in-person at our offices, or by any other means. They supersede all previous terms, oral agreements, and representations.
2.1These Terms constitute the entire agreement between you and us with respect to any transaction, except where expressly supplemented by a separate written agreement signed by both parties (such as a Storage Agreement).
2.2You must be at least 18 years of age to transact with us. By transacting, you represent that you are of legal age and have the legal capacity to enter into binding contracts under Australian law.
2.3Where the Client is a company, trust, or SMSF, the individual signing or confirming the transaction warrants that they have authority to bind that entity and that the entity is duly authorised to purchase or sell precious metals in its capacity.
2.4We reserve the right to refuse any transaction at our absolute discretion without being required to provide reasons, including where we suspect fraud, money laundering, or other illegal activity, or where we are unable to satisfactorily verify your identity.
2.5These Terms are available on our Website at all times. You are responsible for reviewing and understanding the current version prior to each transaction.
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Clause 3
Purchasing Bullion
The purchase of Bullion from Solomons Bullion is governed by the following terms. A binding contract is formed at the moment we issue a Confirmation and you commit to payment at the agreed Transaction Price.
3.1Quotations. All prices quoted on our Website, by telephone, or in person are indicative only and based on the Live Spot Price at the time of quotation. Prices are valid for a limited window only (typically 60–120 seconds during market hours) and may change at any time until Confirmation is issued.
3.2Order Confirmation. An Order is confirmed when: (a) you verbally or electronically agree to the quoted Transaction Price; and (b) you commit to making payment. The confirmed Transaction Price is binding on both parties from that moment.
3.3Product Availability. All Bullion is subject to availability. We reserve the right to substitute a product of equivalent weight, purity, and value where the specific product ordered is unavailable, subject to your prior approval. If approval is not given, the order may be cancelled and any payment refunded.
3.4GST. Investment-grade precious metals meeting the purity thresholds prescribed in the A New Tax System (Goods and Services Tax) Act 1999 are exempt from GST. All prices quoted are inclusive of any applicable taxes unless expressly stated otherwise. It is your responsibility to verify applicable tax treatment for your specific circumstances.
3.5Minimum Orders. We do not impose a minimum order value, though certain delivery options may have minimum order thresholds. Products are available from 1 gram upward depending on current inventory.
3.6Market Hours. Precious metal prices are based on global trading and may be unavailable or highly volatile outside standard market hours. We reserve the right to decline to quote or confirm orders during periods of extreme market disruption or when reliable price data is unavailable.
Note on Price Movements
Because precious metal prices change continuously, the price displayed on our Website at any given moment may differ from the Transaction Price you are ultimately quoted and confirm. Pricing on the Website is indicative only. The binding price is always the Transaction Price agreed at Confirmation.
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Clause 4
Pricing & Payment
4.1Transaction Price. The Transaction Price is calculated as the Live Spot Price at the time of Confirmation, plus our Premium for purchases, or less our buyback spread for sales. All amounts are in Australian Dollars (AUD) unless expressly agreed otherwise.
4.2Accepted Payment Methods. We accept: (a) Electronic Funds Transfer (EFT) / Bank Transfer; (b) EFTPOS at our offices; (c) Cash up to the maximum cash transaction limit set by applicable law (currently $10,000 AUD under the Currency (Restrictions on the Use of Cash) Act 2019). We do not accept credit cards, personal cheques, cryptocurrency payments, or other payment methods not listed here.
4.3Payment Timing. For EFT payments, the order is held for a maximum of one (1) Business Day from Confirmation pending clearance. If funds do not clear within this period, we reserve the right to cancel the order and re-quote at the current market price. Any previously paid funds will be refunded in full.
4.4Dispatch on Payment. All purchases are dispatched or made available for collection only after full payment has been confirmed as cleared to our bank account. We do not release Bullion against uncleared funds or on the basis of a payment initiation alone.
4.5Price Lock. Once a Transaction Price has been confirmed and accepted by both parties, that price is locked regardless of subsequent market movements. Neither party may seek to vary the Transaction Price on the basis of price movements after Confirmation.
4.6Bank Charges. Any bank charges, SWIFT fees, or other transaction costs associated with your payment are your responsibility. You must ensure that we receive the full agreed amount, net of any fees. If a shortfall arises due to bank charges, you must pay the difference before your order is released.
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Clause 5
Delivery & Collection
5.1Delivery Options. We offer delivery by specialist insured courier, in-person collection from our Sydney or Melbourne offices, or direct placement into our allocated vault storage. Full details of each option are set out in our Shipping & Returns Policy.
5.2Delivery Timeframes. Estimated delivery timeframes are provided as a guide only and are not guaranteed. We are not liable for delays caused by courier services, weather, industrial action, or other circumstances beyond our reasonable control.
5.3Transit Insurance. All courier deliveries are covered by specialist transit insurance at full replacement value from dispatch until signed delivery. The terms and limitations of this cover are set out in our Shipping & Returns Policy.
5.4Title & Risk on Delivery. Title and risk in Bullion passes to you upon: (a) your signature on delivery (for courier deliveries); or (b) physical collection from our premises (for in-person collection). Until this point, the Bullion remains our property and our risk.
5.5Delivery Address. You are responsible for providing a correct and accessible delivery address. We cannot redeliver to alternative addresses once a package is in transit without additional charges and our prior written agreement.
5.6Signature Requirement. A valid signature from an authorised recipient is required on all deliveries. If a package cannot be delivered due to the absence of an authorised recipient after three attempts, the package will be returned to us. Re-delivery will incur additional charges.
5.7Collection by Third Parties. Bullion may only be collected by the purchaser of record or a person holding current written authorisation from the purchaser, subject to satisfactory identity verification. We accept no liability for collection by an unauthorised person where you have provided false or misleading authorisation.
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Clause 6
Selling & Buyback
6.1Our Obligation to Buy. Solomons Bullion is not obligated to purchase any item presented to us. We offer buyback services at our discretion and subject to our assessment of the item's authenticity, purity, and provenance.
6.2Buyback Pricing. Buyback prices for investment-grade gold bullion are based on the Live Spot Price at the time of our Confirmation. Buyback prices for silver and platinum reflect applicable market spreads. Current rates are displayed on our Website and subject to change without notice.
6.3Authentication & Testing. All items presented for sale are subject to authentication and purity testing by XRF spectrometry or other appropriate means. Testing is performed at our cost and with no obligation on you to sell following testing. We reserve the right to decline to purchase items that do not pass authentication or purity verification.
6.4Seller Representations. By presenting items for sale, you represent and warrant that: (a) you are the lawful owner of the items; (b) the items are free from encumbrance or third-party claims; (c) you are authorised to sell the items; and (d) the items have not been reported stolen or obtained through unlawful means. Breach of this clause may constitute a criminal offence.
6.5Payment to Seller. Upon Confirmation of a sale, payment is made by EFT to your nominated bank account. We aim to process payment on the same Business Day as the transaction, subject to standard bank processing times. We do not pay cash for transactions above the legal cash transaction limit.
6.6Scrap & Non-Standard Items. Scrap gold, jewellery, dental gold, and other non-standard items are assessed individually based on weight and XRF-determined purity. The price offered reflects the pure metal content value and not any craftsmanship, aesthetic, or antique premium.
6.7Provenance & Documentation. For transactions exceeding $5,000 AUD, we may require evidence of provenance or lawful acquisition. Failure to provide acceptable documentation may result in us declining to purchase.
Stolen Property Notice
Solomons Bullion is a registered precious metals dealer and complies with all obligations under Australian AML/CTF and stolen goods legislation. We report suspicious transactions to AUSTRAC and relevant law enforcement authorities. Presenting stolen goods for sale to us is a criminal offence carrying significant penalties.
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Clause 7
Vault Storage
7.1Nature of Storage. All Bullion stored by us is held on an allocated basis. Allocated storage means that your specific items — identified by product type, weight, and serial number where applicable — are registered to your account and held separately from other clients' metals and from our own assets.
7.2Stored Metals Off Balance Sheet. Stored Bullion does not form part of our balance sheet, is not available to our creditors in any insolvency proceeding, and is held on trust for you as the beneficial owner. In the event of our insolvency, allocated metals are ring-fenced and returned to clients as priority obligations.
7.3Storage Fees. Storage fees are charged as a percentage of the current market value of your holdings, calculated daily and billed monthly. Current fee schedules are available on our Website and may be varied by giving you 30 days' written notice. Fees for the first 3 months of storage are waived for purchases made from us, subject to the conditions of any applicable offer.
7.4Insurance. All stored Bullion is insured at full replacement value through a specialist underwriter. A Certificate of Insurance identifying you as the insured party is issued prior to metals entering storage. Insurance coverage terms, including any exclusions, are set out in the Certificate of Insurance provided to you.
7.5Vault Access. You may request access to your stored Bullion with a minimum of 24 hours' notice. Access is available during business hours at our offices. We are not obligated to provide access outside business hours or without prior notice.
7.6Withdrawal & Delivery. You may withdraw your stored Bullion for collection or delivery at any time. For delivery, standard courier fees and insurance costs apply. There are no exit penalties or lock-in periods.
7.7Audits. We conduct independent annual audits of all stored Bullion by a reputable third-party auditing firm. Audit reports confirming the existence and condition of holdings are available to storage clients upon written request.
7.8Abandoned Property. If we are unable to contact you for a period exceeding 3 years despite reasonable attempts, and storage fees remain unpaid for more than 12 consecutive months, we may deal with your stored Bullion in accordance with applicable unclaimed monies legislation.
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Clause 8
AML/CTF Compliance
Solomons Bullion is a reporting entity under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (the "AML/CTF Act"). We are required by law to identify and verify the identity of all clients and to report suspicious matters and certain transactions to AUSTRAC.
8.1Identity Verification. All clients must provide satisfactory identification and verification documentation before any transaction is completed. This includes current government-issued photo identification. We may require additional documentation for higher-risk transactions or clients.
8.2Ongoing Monitoring. We apply ongoing customer due diligence and may request updated identification or additional information from you at any time, including for existing clients. Refusal to provide requested information may result in suspension of your account or termination of our relationship.
8.3Suspicious Matter Reporting. We are required to submit Suspicious Matter Reports (SMRs) to AUSTRAC where we reasonably suspect that a transaction may involve money laundering, terrorism financing, or proceeds of crime. We are legally prohibited from disclosing to you that an SMR has been filed.
8.4Threshold Transaction Reports. All cash transactions (or combinations of cash transactions involving the same customer) equal to or exceeding AUD $10,000 must be reported to AUSTRAC as Threshold Transaction Reports (TTRs) regardless of whether any suspicious activity is suspected.
8.5Cash Transaction Limit. We will not accept cash payments above AUD $10,000 per transaction, in line with our obligations under the Currency (Restrictions on the Use of Cash) Act 2019. Structuring transactions to avoid this threshold is a criminal offence.
8.6Right to Decline. We reserve the right to decline or terminate any transaction at any time where we have concerns about AML/CTF compliance, without being required to disclose the specific grounds for our decision.
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Clause 9
Risk & Title
9.1Title Retention. Title in Bullion sold by us to you does not pass until we have received full payment of the Transaction Price, including any applicable fees. Until title passes, you hold the Bullion on our behalf and must not sell, encumber, or deal with it as owner.
9.2Risk on Delivery. Risk of loss or damage in Bullion purchased by you passes to you when the Bullion is signed for at delivery, or when it is physically collected from our premises. During transit under our courier arrangements, risk is covered by our transit insurance.
9.3Investment Risk. You acknowledge that the value of precious metals fluctuates and that investing in Bullion carries financial risk. Solomons Bullion provides no guarantee of price outcomes, investment returns, or capital preservation. Any decision to buy or sell is made at your own risk.
9.4Home Storage Risk. Where you elect to take physical delivery of Bullion to store at your own premises, you assume full responsibility for appropriate secure storage and insurance coverage. We recommend consulting your home and contents insurer, as standard policies typically exclude or limit coverage of high-value items such as gold without specific endorsement.
9.5Counterparty Risk. Bullion held in our allocated vault storage does not constitute a debt obligation and carries no counterparty credit risk to our solvency, as described in clause 7.2. However, all other transactions involve standard commercial counterparty risk.
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Clause 10
Returns & Cancellations
Full details of our returns and cancellation policy are set out in our Shipping & Returns Policy. The following provisions form part of these Terms.
10.1No Returns for Price Movement. Precious metal prices fluctuate continuously. Once a Transaction Price has been confirmed by both parties, we do not accept cancellations or refund requests based on subsequent price movements, whether upward or downward.
10.2Eligible Returns. Returns are accepted only where: (a) the product delivered differs materially from the product ordered; (b) the product has a manufacturing defect not caused in transit; or (c) the product fails independent purity verification. Returns must be initiated within 5 Business Days of delivery.
10.3Cancellation Prior to Dispatch. An order may be cancelled at any time before payment is cleared and products are allocated to your order. Once Bullion has been allocated and payment confirmed, cancellation is not possible without our written consent. Where consent is given, the cancellation may be subject to a fee reflecting any price movement since Confirmation.
10.4Consumer Guarantee Provisions. Nothing in these Terms excludes, restricts, or modifies any right or remedy you may have under the Australian Consumer Law (Schedule 2 to the Competition and Consumer Act 2010) to the extent that such exclusion or modification would be unlawful.
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Clause 11
Limitation of Liability
11.1General Limitation. To the maximum extent permitted by law, our aggregate liability to you for any claim arising out of or in connection with any transaction — whether in contract, tort (including negligence), or otherwise — is limited to the Transaction Price of the specific order to which the claim relates.
11.2Exclusion of Consequential Loss. We exclude all liability for: indirect, consequential, special, or incidental loss; loss of profits; loss of investment opportunity; loss of data; or any loss arising from price movements in precious metals markets, whether foreseeable or not.
11.3Website Accuracy. While we take reasonable care to ensure the accuracy of information on our Website, including indicative pricing, we do not warrant its completeness or accuracy. Prices displayed are indicative only. No liability is accepted for decisions made on the basis of Website pricing without Confirmation.
11.4No Financial Advice. We do not hold an Australian Financial Services Licence (AFSL) in respect of general financial product advice. Nothing we say or publish constitutes financial product advice. We recommend you obtain independent advice before making investment decisions.
11.5Force Majeure. We will not be liable for failure or delay in performing our obligations to the extent caused by a Force Majeure event. We will notify you as soon as practicable of any Force Majeure event and take reasonable steps to mitigate its impact.
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Clause 12
Intellectual Property
12.1All content on our Website, including text, images, logos, data, and software, is the intellectual property of Solomons Bullion or is used with appropriate licence or permission. No content may be reproduced, copied, or distributed without our prior written consent.
12.2You may access and view our Website for personal, non-commercial use only. No licence to use our intellectual property is granted by these Terms or by your use of our Website or services.
12.3Third-party trademarks, mint logos, and coin imagery used on our Website remain the intellectual property of their respective owners and are used for descriptive and reference purposes only.
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Clause 13
Privacy
13.1We collect, hold, use, and disclose your personal information in accordance with our Privacy Policy, which is incorporated into these Terms by reference and forms part of our agreement with you. Our Privacy Policy complies with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.
13.2By transacting with us, you consent to the collection and use of your personal information as described in our Privacy Policy, including for AML/CTF compliance, transaction processing, account management, and communication purposes.
13.3We may be required by law to disclose your information to AUSTRAC, law enforcement, or other government agencies. Such disclosures will be made in accordance with applicable law.
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Clause 14
Governing Law
14.1These Terms are governed by the laws of New South Wales, Australia. Both parties submit to the exclusive jurisdiction of the courts of New South Wales and, where applicable, the Federal Court of Australia.
14.2Where a transaction is initiated from or completed at our Melbourne office, the parties acknowledge that Victorian law may apply to specific aspects of the transaction, though these Terms as a whole remain governed by the laws of New South Wales.
14.3Dispute Resolution. If a dispute arises between you and us in connection with these Terms or any transaction, the parties agree to first attempt resolution through good-faith negotiation. If unresolved after 20 Business Days, either party may refer the matter to mediation through a mutually agreed mediator prior to commencing court proceedings.
14.4Severability. If any provision of these Terms is held to be invalid, illegal, or unenforceable, that provision will be severed and the remaining provisions will continue in full force and effect.
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Clause 15
Amendments
15.1We reserve the right to amend these Terms at any time. Amendments will be published on our Website and take effect 14 days after publication, or immediately where required by law.
15.2Your continued use of our services or execution of a transaction after the effective date of any amendment constitutes your acceptance of the updated Terms.
15.3We will provide notice of material amendments to registered clients via email where we hold current contact information. It remains your responsibility to review current Terms before each transaction.
15.4Transactions confirmed prior to the effective date of any amendment remain governed by the Terms in force at the time of Confirmation, except where otherwise required by law.
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Clause 16
Contact & Notices
All notices and communications to us must be sent to the following contact details. Notices to you will be sent to the contact details you have provided to us.
Registered Name
Solomons Bullion
Notices sent by email are deemed received on the next Business Day after sending (subject to no delivery failure notification being received). Notices sent by post to our registered office are deemed received 3 Business Days after posting.