Terms & Conditions

Nothing in these terms limits your rights under Australian Consumer Law.

1. General

1.1. All Graded/encapsulated coins sold on The Coin Chest (TCC) are Professional Coin Grading Service (PCGS) certified. Information relating to their service can be found by clicking here. The grading scale used by PCGS to authenticate and grade coins can be found here. Purchasers understand, serial numbers are unique to each PCGS authenticated coin. Due to the high volume of sales on TCC, the images provided are only indicative of the grade and not the actual coin(s) itself.

1.2. Images provided by the vendor are for illustrative purposes only and are produced in a controlled environment and may differ from the physical appearance of the coin itself. In line with Australian Consumer Law, it is the duty of the purchaser to immediately inform the vendor of any disparities when the item is delivered.

1.2.1 The buyer understands before purchasing that due to the minting process and variations in the manufacturing of numismatic products, the products shown in the example images may differ from the goods themselves. This manifests in ways including but not limited to: missing paint, coin marks, moderate scratches and disparities in colour (i.e. toning).

1.2.2. Purchasers must notify TCC of any disparities between the item received and the product description or images within 48 hours of confirmed delivery. Claims made after this period may not be accepted unless required under Australian Consumer Law.

1.3. TCC is not liable for any loss of value, depreciation or damages caused to third parties by, but not limited to the following:

1.3.1. Loss of uninsured goods in transit.
1.3.2. Damage to uninsured goods by third party freight/shipping companies (e.g. Australia Post).
1.3.3. Reputation/credibility loss/damage to third parties authenticating and/or manufacturing numismatic products.
1.3.4. Mistaken authentication by third parties.
1.3.5. Alleged non-receipt of goods where the third-party carrier records the article as delivered, collected, or otherwise delivered in accordance with the carrier’s records, unless the carrier, insurer, or relevant authority formally confirms that the article was lost, misdelivered, or not delivered, or unless TCC is otherwise required by law to provide a remedy.

1.4. Loyalty Points System:

Every $1 spent earns 1 point.
For every 100 points spent, customers receive $1 worth of discount on their next purchase.
This ratio works out to 1% back on every non-bullion purchase.
Please note that points are not refundable for cash and do not have an expiry.
Points cannot be earnt or used on Wholesale transactions.

1.4.1. TCC reserves the right to revoke, reset, or suspend loyalty points for any customer account found to be in breach of any clause under Sections 3.1.3 to 3.1.6, or section 5. This includes but is not limited to cases of suspected fraud, offer system abuse, or manipulation through multiple accounts or identities. Loyalty points remain the property of TCC until redeemed and may be forfeited at our sole discretion without notice.

1.5. Unpaid Orders / Remittance Confirmation / Price Lock

1.5.1. Payment Deadline (Cleared Funds)
Full cleared payment must be received by TCC no later than 4:00 PM Adelaide time on the second Business Day counted from the Order Day, where:
(a) Order Day means the Business Day on which the order is placed, provided the order is placed before 4:00 PM Adelaide time; and
(b) if an order is placed after 4:00 PM Adelaide time, the Order Day is the next Business Day.

1.5.1.1. Remittance Confirmation Window (Variable – Bullion / Spot-Priced Orders)
For Bullion Orders, TCC may require the customer to provide payment confirmation (including remittance advice and/or transfer confirmation) within a shorter time window than the cleared funds deadline in clause 1.5.1 (the “Remittance Confirmation Window”). Where a Remittance Notice is displayed for an order, the customer must comply with the Remittance Confirmation Window stated in that Remittance Notice. The applicable Remittance Confirmation Window will be stated at checkout and/or immediately after checkout in a “Remittance required” notice (the “Remittance Notice”). The Remittance Notice (including any stated remittance contact details) forms part of these Terms for that order. TCC may update or re-issue a Remittance Notice prior to receipt of payment confirmation where market conditions or operational risk materially change.
1.5.1.2. Where to Send Remittance / Payment Confirmation
The customer must send payment confirmation to the remittance email address specified in the Remittance Notice (or, if none is stated, to the email address listed at the top of these Terms). The customer must include the order number as the payment reference and/or in the subject line.
1.5.1.3. Effect of Providing Payment Confirmation
Providing payment confirmation does not constitute cleared funds, does not guarantee allocation, and does not oblige TCC to dispatch goods until cleared funds are received and any compliance requirements are satisfied. Payment confirmation is used to support operational handling of Bullion Orders during volatile market conditions.
1.5.2. Cancellation for Failure to Meet Remittance Confirmation Window
If TCC does not receive payment confirmation within the Remittance Confirmation Window (where applicable), TCC may, at its discretion and without further notice, cancel the Bullion Order (including automatically) and release any price lock and/or allocation. Any payment received after cancellation may be returned (less any unrecoverable fees, charges or costs permitted by law), and the customer may be required to place a new order at the then-current price and availability. For the avoidance of doubt, the applicable Remittance Confirmation Window is the time stated in the Remittance Notice for that order.
1.5.3. Cancellation for Failure to Meet Cleared Funds Deadline
Any order not fully paid by the cleared funds deadline in clause 1.5.1 is considered unpaid and may be cancelled automatically without notice, unless a written extension has been expressly granted by TCC before the deadline.
1.5.4. Bullion Orders – No Extensions
Orders containing bullion are not eligible for extensions (including extensions of the cleared funds deadline), unless TCC expressly agrees in writing. Bullion Orders may also be subject to a Remittance Confirmation Window under clause 1.5.1.1.
1.5.5. Late Payment Does Not Reinstate Allocation / Pricing / ETA
Payment received after any applicable deadline (including the Remittance Confirmation Window and/or the cleared funds deadline) does not reinstate allocation, pricing, or ETA. Stock may have already been reallocated to other paid orders.
1.5.6. Order Stacking / Selective Payment Abuse
Customers must not place multiple orders (or repeated orders) with the intention of selectively paying only the order(s) that become favourable due to market movement, and allowing other orders to lapse unpaid (“order stacking”, “price fishing”, or “selective payment”). TCC may, at its sole discretion, cancel all related orders, void any allocations or price locks, refuse further transactions, and apply any fees or market loss adjustments permitted under these Terms. TCC may infer intent from patterns of behaviour, including repeated non-payment, repeated cancellations, or selective payment correlated with market movement.
1.5.7. Title
Title to all goods remains with TCC until full cleared funds are received.
1.5.8. Compliance Holds
Orders are also subject to cancellation or hold under Section 6 (Compliance, AML/CTF & Payment Integrity).

1.6. Offers & Counteroffers

Any offer or counteroffer made through our offer system is valid for 24 hours from the time it is issued (Adelaide time) unless stated otherwise. An offer does not reserve stock or lock pricing until the order is made. We may withdraw or reject offers at any time if stock becomes unavailable or where there is a pricing/technical error.

1.7. Business Day & Cut-Off Time

For the purposes of these Terms, a Business Day means Monday to Friday, excluding South Australian public holidays. End of Business Day is defined as 4:00 PM Adelaide time (ACDT/AEST). Remittance Confirmation Windows may be measured in minutes and may apply outside Business Days and outside the 4:00 PM cut-off.

2. Shipping, Delivery, Insurance & Disputed Delivery

2.1. Delivery Method and Carrier Records

TCC may use third-party carriers, freight providers, postal services, couriers, or specialist delivery providers to deliver goods. Once an order has been dispatched, delivery events, scan data, delivery photographs, signature records, GPS data, collection records, and carrier investigation outcomes may be relied upon by TCC when assessing delivery status.

Where a carrier records an article as delivered to the nominated delivery address, collected from a collection point, or otherwise delivered in accordance with the carrier’s records, TCC may treat the order as delivered unless the carrier formally reverses that delivery outcome, deems the article lost in transit, or TCC is otherwise required by law to provide a remedy.

2.2. Customer Responsibility for Delivery Details

Customers are responsible for ensuring that the delivery name, address, phone number, email address, and delivery instructions provided at checkout are complete and accurate.

TCC is not responsible for loss, delay, misdelivery, failed delivery, collection issues, or delivery disputes caused by incorrect, incomplete, unsafe, unattended, inaccessible, or unsuitable delivery details provided by the customer.

2.3. Authority to Leave, Safe Drop, Collection Points and Post-Delivery Risk

Where a parcel is delivered, left, redirected, collected, or made available for collection in accordance with carrier records, TCC will not treat the article as lost in transit merely because the customer later alleges that the goods were not located, were removed after delivery, were collected by another person, or were otherwise not in the customer’s possession.

If a parcel is recorded as delivered and the customer alleges that the goods are missing, TCC may require formal supporting evidence before any further review is considered. This may include, but is not limited to:

(a) a statutory declaration;
(b) a police event number or police report;
(c) written confirmation from building management, concierge, mailroom staff, or relevant occupants;
(d) CCTV, doorbell camera, or building access records;
(e) confirmation from the carrier that the article has been deemed lost or misdelivered; and/or
(f) any other evidence reasonably required by TCC, the carrier, or the insurer.

2.4. Authority to Leave, Safe Drop, Collection Points and Post-Delivery Risk

If a customer disputes delivery of an article that the carrier has marked as delivered, TCC may investigate the matter with the carrier. However, TCC is not required to issue a refund, replacement, credit, or insurance payment solely because a customer alleges non-receipt after the carrier has recorded delivery.

Any refund, replacement, credit, or insurance outcome for a disputed delivery will depend on the carrier’s final investigation outcome, the insurer’s claim decision, the evidence provided by the customer, these Terms, and any rights or remedies available under Australian Consumer Law.

2.5. Insurance / Transit Protection

Where insurance or transit protection is purchased or included for an order, it applies only according to the terms, limits, exclusions, and claim requirements of the relevant insurer, transit protection provider, carrier, or TCC self-insurance arrangement, as applicable.

Insurance or transit protection does not guarantee an automatic refund, replacement, or credit in every delivery dispute. A claim may be refused or limited where:

(a) the carrier records the article as delivered;
(b) the article is not deemed lost or damaged in transit;
(c) the customer fails to provide required evidence;
(d) the goods are excluded by the insurer, carrier, postal service, or transit protection provider;
(e) the goods are prohibited or restricted for the selected carrier or service;
(f) the customer provided incorrect, incomplete, or unsuitable delivery details;
(g) the article was collected, redirected, or received by a person at or connected with the delivery address;
(h) the alleged loss occurred after delivery; or
(i) the claim is otherwise excluded under the applicable policy, carrier terms, or law.

2.6. Insured Goods, Loss or Damage in Transit

Subject to these Terms and Australian Consumer Law, purchasers of insured goods may be entitled to reimbursement, replacement, credit, or another remedy where:

(a) the goods are lost in transit and the carrier, insurer, or relevant claims provider accepts or confirms the loss; or
(b) the goods are damaged while in transit and the carrier, insurer, or relevant claims provider accepts or confirms the damage.

TCC may determine the appropriate remedy having regard to the product type, market availability, metal price movement, replacement cost, insurer/carrier decision, and applicable law.

2.7. Bullion, Precious Metals and Carrier Restrictions

Some carriers, postal services, insurers, and transit protection providers restrict or exclude bullion, precious metals, coins, bank notes, collectables, high-value goods, or similar items from carriage, insurance, compensation, or claim eligibility.

Where a product is subject to carrier, postal, insurance, customs, or legal restrictions, TCC may:

(a) select an alternative delivery method;
(b) require collection, vault storage, split shipment, or specialist courier delivery;
(c) refuse or cancel a shipping method;
(d) refund any unavailable insurance or shipping component;
(e) delay dispatch until a suitable delivery method is available; and/or
(f) impose additional verification, delivery, or collection requirements.

2.8. Insured Goods, Loss or Damage in Transit

Customers must promptly cooperate with any delivery investigation, insurance claim, carrier enquiry, police report, statutory declaration, or evidence request relating to a disputed, lost, damaged, or allegedly missing article.

Failure to provide requested information within a reasonable timeframe may result in the claim being delayed, rejected, closed, or treated as unsupported.

2.9. False, Misleading or Fraudulent Claims

TCC may refuse a refund, replacement, credit, insurance claim, or further supply where TCC reasonably suspects that a delivery dispute, insurance claim, non-receipt claim, chargeback, or related statement is false, misleading, fraudulent, abusive, or made in bad faith.

TCC may provide relevant information to the carrier, insurer, payment provider, police, claims investigator, or other relevant authority where reasonably necessary to investigate or respond to the matter.

2.10. Insurance Exclusions

2.10.1. Shipments to destinations classified by the insurer as “high-risk“, generally due to experiencing active war or conflict, or currently under sanction (e.g., Afghanistan, Ukraine), at the time of insurance purchase, are not eligible for insurance coverage.
2.10.2. In such cases, the customer may proceed with the shipment at their own risk, redirect the shipment to an eligible destination, or request a full refund of the insurance premium.
2.10.3. The definition of a high-risk or excluded destination is determined solely by the insurance provider and is subject to change without notice.
2.10.4. For reference, high-risk or excluded destinations are aligned with those classified as ‘Do Not Travel’ by the Australian Government due to war, conflict, or sanctions. Please contact us if you are unsure whether your destination is covered, or refer to the following link to check the status of your country.

3. Cancellation / Return Policy

3.1. TCC reserves the right to cancel orders placed, under the grounds of, but not limited to any one of the following:

3.1.1. Errors in sales listings, coupon errors, faulty spot prices etc.
3.1.2. Loss of stock in transit (for back orders).
3.1.3. Scalping
3.1.4. Suspected deceitful/fraudulent activity
3.1.5. Transactions originating from sanctioned countries.
3.1.6. Non-payment by the cleared funds deadline in Section 1.5.1 and/or failure to provide payment confirmation within any applicable Remittance Confirmation Window under Section 1.5.1.1.
3.1.7. Breach of Section 6 (Compliance, AML/CTF & Payment Integrity).
3.1.8. Breach of Section 1.5.6 (Order Stacking / Selective Payment Abuse).

3.2. For clarity, Bullion Orders may be cancelled for non-payment by the cleared funds deadline in Section 1.5.1 and/or for failure to provide payment confirmation within any applicable Remittance Confirmation Window under Section 1.5.1.1. If an order containing bullion products is cancelled, refused, or remains unpaid beyond the applicable timeframe(s) in Section 1.5, the buyer is liable for the following amounts (to the extent permitted by law):

Market Loss Adjustment (M-L Fee): the amount by which the bullion’s purchase-time spot value exceeds its current spot value at the time of cancellation or refusal, calculated per bullion item. If the current spot value is equal to or greater than the purchase-time spot value, no credit will be given and no M-L Fee will be payable by the customer.
Market Risk & Hedging Cost Fee (MRH Fee): 2% of the Bullion Goods Total.
Administrative Fee: AUD $50 per cancelled or unpaid order.

For the purposes of this clause, “Bullion Goods Total” means the total price of bullion products in the relevant order (excluding shipping, insurance, and any non-bullion items).

3.2.1. The fees in clause 3.2 are intended to compensate TCC for the genuine costs and risks of locked pricing and bullion exposure, including (without limitation) hedging and unwind costs (including spread/slippage), capital allocation and market risk during the payment window, and operational handling incurred due to cancellation/non-payment, and represent a genuine pre-estimate of loss and costs likely to be incurred.
3.2.2. TCC may deduct these amounts from any refund otherwise due, apply them against other amounts owing by the customer to TCC, and/or invoice the customer directly where no payment has been made (to the extent permitted by law).
3.2.3. TCC may, at its discretion, waive or reduce any of the above fees and continue processing a late-paid order as a goodwill exception, including on revised pricing, allocation, and/or ETA terms.

3.3. Orders cancelled by TCC (unless in breach of 3.1.3. and/or 3.1.4.) are entitled to a full refund in line with Australian Consumer Law.

3.4. Buyers purchasing goods with a maximum order quantity per person/household, using multiple transactions, will be in breach of 3.1.3. with evidence from one of the following: same delivery address, payment method details or IP address. TCC may deduct a fee of up to 25% of the goods total, reflecting the reasonable costs and losses incurred before refunding the order.

3.5. Order Cancellations & Full Refunds

Orders may be cancelled for a full refund under the following conditions:

3.5.1. The purchaser informs TCC by email or phone call within 2 hours of purchase.
3.5.2. The goods have not been sent or packaged for delivery.
3.5.3. Postage labels/methods have not been purchased by TCC.
3.5.4. The order does not contain Bullion products.
3.5.5. The order has not been processed for vault storage (“vaulted”).
3.5.6. The order was paid via bank transfer or cash – otherwise 3.8 applies.
3.5.7. “2 hours” is measured from the order time shown on the order confirmation (Adelaide time).

For avoidance of doubt, an approved change-of-mind cancellation requested more than 2 hours after purchase may attract a cancellation fee of up to 25% of the goods total, reflecting the reasonable costs and losses incurred by TCC in connection with the cancellation.

3.6. Change-of-mind cancellations after the 2-hour window (unshipped / unvaulted)

If a purchaser requests a change-of-mind cancellation more than 2 hours after purchase, and the order does not contain bullion, TCC may approve the cancellation at its discretion. If approved:

TCC may deduct a cancellation fee of up to 25% of the goods total (excluding shipping and insurance), reflecting the reasonable administration costs, payment processing costs, inventory allocation, stock reservation, loss of sales opportunity, reduced market demand, remarketing costs and other commercial losses incurred by TCC.
Shipping or insurance costs already incurred or purchased by TCC are not refundable;
Where the order was paid via card/PayPal/Afterpay, the 25% fee is inclusive of non-refundable processing costs (no separate processing fee is charged on top of the 25%).

3.7. Change of Mind Refunds/Returns for Dispatched or Vaulted Items

If goods have been dispatched or vaulted, refunds/returns will be accepted under the following conditions, and 3.8 will not apply:

3.7.1. The purchaser notifies TCC within 14 calendar days from receipt of goods or your order being vaulted.
3.7.2. If received, goods must be sent by a tracked and fully insured method to TCC by the purchaser.
3.7.3. The item is confirmed by TCC as being received without damage/tampering or defect.
3.7.4. If postage was purchased for the original order (either at the time of purchase or after vaulting), the postage cost is forfeited and will not be refunded.
3.7.5. TCC may deduct a cancellation/restocking fee of up to 25% of the goods total, reflecting the reasonable costs and commercial losses incurred as a result of the return.
3.7.6. The order does not contain bullion.

3.8. Refunds for Orders Paid via Card Processors

3.8.1. For refunds approved under 3.5 where payment was made via card/PayPal/Afterpay, the refund will be less any payment processing fees not refunded to us by the payment provider, plus any shipping/insurance already purchased (where applicable).
3.8.2. For refunds/returns approved under 3.6 or 3.7, payment processing costs (where applicable) are included within the 25% fee and are not deducted separately.
3.8.3. This fee between 2%-8% is the rate charged to us by the payment processor at the time of purchase, including the cost of goods and any associated shipping charges, and is strictly non-negotiable.

For the purposes of this Section, commercial losses may include, without limitation, administration costs, payment processing costs, inventory allocation, stock reservation, loss of sales opportunity, reduced market demand, remarketing costs, supplier commitments, inventory handling and any other reasonably incurred costs arising from the cancellation or return.

3.9. TCC is not liable for any exchange rate fluctuations, currency conversion fees, or related financial differences incurred in connection with any refund issued.

4. Backorders

4.1. If your Bullion or Numismatic Coins are on back order, you will either be advised by either:

Dispatch timeframes listed on individual product pages.
When you receive confirmation of your purchase order.

4.2. Delivery of Bullion or coins on back order may be further delayed for reasons beyond the control of TCC. TCC is not liable for any loss or damage directly suffered by you (or any 3rd party) arising directly or indirectly from any delay in delivery.

4.3. Orders for Bullion and Numismatic products may not be cancelled or terminated due to any backorder or delivery delay, except where the delay exceeds 90 days beyond the originally advised dispatch timeframe. In such cases, the following remedies apply:

4.3.1 Numismatic Products: If a Numismatic product is delayed by more than 90 days, the customer may request a cancellation of that item and receive a full refund.

4.3.2 Bullion Products: If a Bullion product is delayed by more than 90 days beyond the originally advised dispatch timeframe, TCC may, at its discretion, offer either

(a) an exchange into another in-stock bullion product with equivalent contained precious metal weight and a substantially equivalent bullion premium, as determined by TCC acting reasonably and subject to product availability; or

(b) a store credit based on the live spot value of the contained precious metal only at the time the request is assessed, to be applied toward another in-stock bullion product.

An exchange does not entitle the customer to a higher-premium, higher-retail-value, limited-edition, numismatic, semi-numismatic, assay-carded, branded, or otherwise materially more expensive product on a weight-for-weight basis unless TCC agrees in writing.

If a replacement product carries a higher price or premium, the customer must pay the difference before allocation or dispatch.

A delay does not entitle the customer to elect between the original purchase price and the current market value according to whichever produces the more favourable financial outcome.

Where TCC is required by the Australian Consumer Law to provide a cash refund, the refund will be calculated and provided in accordance with those legal requirements. Nothing in this clause limits any right or remedy that cannot lawfully be excluded.

5. Customer Conduct and Communication Policy

5.1. The Coin Chest (TCC) is committed to maintaining a respectful and professional environment for both our customers and employees. While we welcome inquiries regarding orders as part of our customer service, we have a zero-tolerance policy for the following behaviors:

Disrespectful, abusive, or aggressive language directed at employees.
Harassment in any form, including repeated or threatening messages.
Excessive or repetitive inquiries regarding order status before the communicated dispatch or expected arrival date (as stated at checkout or in email updates).

5.2. If a customer’s behavior falls under any of the above categories, TCC reserves the right to cancel their order and issue a full refund at our discretion, without prior notice.

5.3. In such cases, TCC will notify the customer of the cancellation via the email address associated with the order. No further communication will be entertained on the matter.

This policy is in place to ensure a safe, respectful, and professional environment for both our customers and employees.

6. Compliance, AML/CTF & Payment Integrity

6.1. Regulatory Compliance

TCC operates as a bullion dealer and is required to comply with all applicable Australian laws and regulatory obligations, including Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements.

Nothing in these Terms obliges TCC to process a transaction that, in TCC’s reasonable opinion, may breach or circumvent any legal or regulatory obligation.

6.2. Prohibited Payment Structuring

TCC does not permit payment arrangements that are intended to avoid, circumvent, interfere with, or reduce compliance, monitoring, or reporting obligations under Australian law.

This includes, but is not limited to:

split payments,
staged payments,
delayed payments,
or instructions or communications suggesting an intent to avoid detection, reporting, or regulatory thresholds.

6.3 Compliance Holds and Order Actions

Where TCC reasonably believes that a payment method, communication, or instruction is intended to breach Section 6.2, TCC may, at its sole discretion and without prior notice:

(a) place the order on compliance hold;
(b) refuse to accept further payment;
(c) cancel the order;
(d) reverse or refund any funds received (less any applicable fees permitted under these Terms); and/or
(e) decline to enter into future transactions with the customer.

6.4 Bullion Pricing, Allocation & Hedging

The bullion selling price is fixed when TCC accepts the customer’s order, subject to the customer complying with all applicable payment and remittance deadlines.

TCC may, at its discretion, purchase replacement metal, reserve inventory, enter into hedging arrangements or otherwise manage the market exposure created by an accepted Bullion Order. The customer’s obligation to pay the agreed price is not dependent upon whether or how TCC manages that exposure.

Product allocation, dispatch, storage processing and any expected delivery timeframe remain subject to receipt of full cleared funds and completion of any applicable compliance requirements.

Failure to provide payment confirmation or cleared funds by the applicable deadline may result in cancellation and liability for the amounts specified in Section 3.2.

6.5 Information Requests & Verification

TCC may request additional information or verification to satisfy compliance requirements. Failure to provide requested information within a reasonable timeframe may result in order cancellation or refusal to transact.

7. Security, Set-Off and Realisation of Customer Property

7.1. Definitions

For the purposes of this Section:

Customer Property means any bullion, coins, collectables, stock or other goods owned by the customer and held by or on behalf of TCC, including goods held for vault storage, consolidation, collection, resale or pending dispatch.

Secured Amounts means any amount properly payable by the customer to TCC, including any Market Loss Adjustment, Market Risk & Hedging Cost Fee, Administrative Fee, unpaid invoice and reasonable enforcement or realisation costs permitted under these Terms or by law.

Fine Metal Content means the actual quantity of pure gold, silver, platinum, palladium or other precious metal contained in an item, expressed in troy ounces.

Spot Ask Rate means the live Australian-dollar ask price per troy ounce for the relevant precious metal obtained from TCC’s nominated independent metals pricing provider at the time the bullion is realised. TCC will record the applicable rate, source, date and time.

7.2. Security Interest and Right to Withhold Goods

As continuing security for payment of all Secured Amounts, the customer grants TCC a security interest in the Customer Property.

While any Secured Amount remains unpaid, TCC may withhold the release, collection, transfer or dispatch of Customer Property.

TCC may also set off any Secured Amount against money, refunds, credits or other monetary amounts otherwise payable by TCC to the customer.

7.3. Notice of Default

If a Secured Amount remains unpaid after its due date, TCC may issue the customer with a written notice identifying:

(a) the amount owing;

(b) the Customer Property that may be realised;

(d) the date after which TCC may realise the Customer Property.

Unless a shorter period is permitted by law, the proposed realisation date will be at least ten (10) Business Days after the notice is given.

The customer may pay the Secured Amount in full before the Customer Property is realised. The customer may also nominate which suitable items should be realised first, although TCC is not required to accept a nomination that would be impractical, insufficient or materially disadvantageous.

7.4. Realisation of Standard Bullion

If the default is not remedied by the date stated in the notice, TCC may realise or acquire one or more whole standard bullion items held for the customer.

For each standard bullion item realised, the customer will be credited an amount calculated solely as:

Spot Ask Rate × Fine Metal Content

The amount calculated under this clause is the agreed realisation value of the standard bullion item. No additional value will be attributed to any fabrication premium, brand premium, product premium, scarcity premium, retail premium or potential resale premium associated with the item.

This valuation method recognises that TCC will bear the costs, administration and commercial risks associated with taking the bullion into inventory, recording and handling the transfer, funding the transaction and subsequently storing, transporting, hedging, reselling or otherwise disposing of the bullion.

No separate buyback spread, handling fee, payment processing fee, sales commission, transport charge or realisation fee will be deducted from the amount calculated under this clause.

The calculated amount will be applied toward the Secured Amounts.

TCC will realise only so much standard bullion as is reasonably necessary to satisfy the Secured Amounts. Where a whole bullion item must be realised and its calculated value exceeds the amount owing, the surplus will be paid or credited to the customer.

Any shortfall remaining after the calculated amount is applied continues to be payable by the customer.

For the purposes of this clause, standard bullion means an ungraded, non-proof bullion product commonly traded primarily by reference to its contained precious metal value. It does not include proof coins, graded coins, limited-edition products, numismatic or semi-numismatic products, collectables, or any other product whose market value may materially depend upon characteristics other than its Fine Metal Content.

7.5. Realisation of Proof, Numismatic and Non-Bullion Products

Proof coins, graded coins, numismatic products, collectables and other non-standard bullion products will not be valued solely according to their contained metal value.

TCC may offer those products for sale through its website, an auction platform, marketplace, dealer, tender or another commercially reasonable sales channel. TCC will use reasonable endeavours to obtain the best price reasonably obtainable in the circumstances, having regard to the item’s condition, packaging, certification, demand, available sales channels and the time reasonably required to complete the sale.

From the gross sale proceeds, TCC may deduct:

(a) actual third-party auction, marketplace, payment processing, shipping, insurance and similar transaction costs directly associated with the sale; and

(b) after deducting the costs in paragraph (a), a realisation fee equal to ten per cent (10%) of the remaining proceeds to cover cataloguing, photography, listing, handling, customer service, administration and management of the sale.

The resulting net proceeds will be applied toward the Secured Amounts. Any surplus will be paid or credited to the customer, and any remaining shortfall continues to be payable by the customer.

7.6. Selection and Sale of Customer Property

Where reasonably practicable, TCC will:

(a) realise standard, readily tradeable bullion before proof, graded, limited-edition or numismatic products;

(b) avoid realising more Customer Property than is reasonably required to satisfy the Secured Amounts; and

TCC is not required to divide, cut, melt or otherwise physically alter an individual bullion item to realise only part of that item

7.7. Statement of Realisation

Following any realisation, TCC will provide the customer with a written statement showing:

(a) the Customer Property realised;

(b) for standard bullion, its Fine Metal Content, the Spot Ask Rate and the pricing source, date and time used to calculate its agreed realisation value;

(d) any permitted third-party costs and realisation fee deducted;

(e) the amount applied toward the Secured Amounts;

(f) any surplus payable or creditable to the customer; and

(g) any remaining shortfall payable by the customer.

7.8. Application and Legal Rights

This Section applies only where it formed part of the agreement under which the relevant Customer Property was purchased, stored, vaulted or otherwise placed into TCC’s possession.

TCC’s rights under this Section operate in addition to any other rights available under these Terms or at law.

Nothing in this Section excludes, restricts or modifies any right or remedy that cannot lawfully be excluded, restricted or modified, including under the Australian Consumer Law.

We're currently operating with an approximate 4 business day dispatch queue. Thank you for your patience while our team works through orders. Dismiss