Frequently Asked Questions

Frequently Asked Questions (FAQ)

It is a Swiss company created in August 2010 and listed in the Valais Central Companies Register (CHE-115.945.571).

The purpose of the company is international trade in precious metals, specialising in silver ingots. It supplies only physically existing metal, in contrast to competitors who sell promissory certificates of metal assets where the promised metal is fictive and exists only on paper.

Euporos SA’s registered office is at 5 Avenue de la Gare, Sion, in the Canton of Valais in Francophone Switzerland (about an hour’s drive south-east of Lausanne).

Many competitors generally sell precious-metal “paper”, the certificate promising a purely fictive metal asset that does not exist physically as ingots or coins. In contrast, Euporos SA sells only physical precious metals. Knowing that, on average, any given ingot is promised 50 times on paper by unprofessional traders, our company prefers to offer a physical investment where each client is certain of actually possessing the metal and not just a fanciful paper.

Euporos SA also offers a comprehensive physical storage service.

If you go to our website, at the top right of the page you can create your customer account by clicking “Create account free of charge”. Then just fill in the required information, and at the end of the process click on the link which we email to your personal mailbox to activate this customer account.

To connect to your customer account, click on “login”.

Just go to the website, to your customer account, enter your email address and click “forgot password?” Your password will be sent to you at the email address you gave when you registered.

To change your personal details, login to your customer account, and at the right side of the page under "my details" you can change them whenever your want.

You customer account on the Euporos SA website is in “https” mode, which offers a high level of protection against unauthorised third-party intrusion (hackers). HTTPS is one of the secure protocols used on the internet to protect data transmission.

Your data and purchases are covered by business confidentiality. All information provided to our company remains strictly confidential. No databank will be sold to anyone. Additionally, you can ask us to close your customer account whenever you want.

Euporos SA offers a range of gold ingots (1 ounce, 50 g, 100 g, 250 g, 500 g, 1 kg) as well as coins: Gold Maple Leaf, Vreneli and Napoléon.

Euporos SA offers a range of silver ingots (1 ounce, 50 g, 100 g, 250 g, 500 g, 1 kg) as well as three types of coins: Silver Maple Leaf, Silver Eagle and the Philharmoniker.

The Silver Eagle is slightly more expensive, whereas the Maple Leaf has a higher purity (999.9/1000 versus 999/1000).

Simply create a customer account on our website and place an order.

The ordering process is as follows:

  1. OPEN A CUSTOMER ACCOUNT FREE OF CHARGE
  2. PLACE YOUR ORDER
  3. PAY (BANK TRANSFER, BANK CARD, CASH)
  4. WE PROCESS YOUR ORDER QUICKLY

If you opt to send it home or to pick it up from our site, the question does not arise because the metal you ordered is physically placed in your own hands. For storage, you have two types of proof: the storage contract and the certificates of storage of your goods (with the serial number of each ingot). Furthermore, you can come and get it or see it whenever you want.

Learn more about storage...

Our company imposes no limit. You can order whatever amount you wish.

If your purchase is CHF 25,000 or more, you must sign an anti-money-laundering form ("LBA" form downloadable from your customer account) and provide a certified copy of your identity document.

This LBA form (an acronym of the anti-money-laundering law “Loi sur le Blanchiment d’Argent”) is to confirm that the money that you want to invest belongs to you and that it does not come from illegal activity. You must sign the first page, initial the second, and send all three to the company.

Under both Swiss and European law, our sales are firm and cannot be undone, given that the price of the merchandise is subject to market fluctuations beyond our control. For more information click here.

Euporos SA can buy back your goods, on the following terms:

If your metal was bought through our company, we buy it back at the day’s price minus 5 %.

If your metal was bought through another company, we buy it back at the day’s price minus 15 %.

Please realize that our competitors generally buy it back at the day’s price minus 30 % to 40 %.

To learn more click here   Buy-back terms

Although the rates are indexed to the spot price, foundry manufacturing costs and marketing costs need to be added. Our ingots are brand new and carry world-renowned hallmarks, which confer additional value.

In contrast, our competitors who invoice only the day’s price with no surcharge, sell you merely a credit note (ex-tax) on a metal account, merely a promise! If you want to receive physical delivery, the issuer of this paper certificate must first actually own the physical metal that it claims to have sold you and stored in its safe. Promises can be misleading: eg, the Madoff scam, MF Global failure, etc.

It seems that, on average, any given ingot is sold 50 times on paper, which means that while one person actually holds the merchandise, the other 49 have... a promise! If you ask to close your metal account and to have it delivered physically, your dealer will invoice you (in addition to the spot price!) the cost of manufacturing the ingot, the VAT, his commission, and shipping and insurance charges.

In sum, the spot price corresponds to risky promises on paper, while on the contrary, our prices faithfully reflect the real market in... real ingots!

  1. A secure and reliable offer: Shipments generally take no more than two weeks after payment is received. We operate on the principle that we should carry sufficient inventory to honour all orders and deliver promptly.
  1. Exceptional situations: However, when we receive an order for a particularly large amount, or when there is a rush of buyers on the precious metals market leading to an overload of work at the foundries, there may be a waiting time, without it being our fault. In such a case we would deliver as soon as possible. If our supplier defaulted completely, we would reimburse you the total amount of your order.

We work with TNT.

If the carrier finds the recipient (you) absent the first time, a calling card will be left in your mail-box and can agree on a second delivery attempt with the carrier itself.

The package is handed over when the recipient signs for it. Anyone receiving it on the recipient’s behalf must show an authorisation to do so signed by the recipient, to be able to obtain the package.

When you receive it, check the container carefully before signing, and write on the delivery note any complaint you may have!

Throughout the duration of the transport, you are 100 % insured if you have subscribed to the shipping insurance. Consequently, if the package is lost you will receive an identical replacement, and if the products are damaged we will exchange them at our cost. If the carrier delivers a package that is totally or partially damaged or spoiled, you must write your complaint on the delivery note at the time that you accept the package (and not afterwards!). AND immediately send us a copy of your complaint. If you omit to react immediately, you will have no recourse against the carrier or against the seller.

To track it, login to your customer account, select “my orders” then click “see” for the package in question. You will then have to “track the package”.

Each of our depositors owns ingots allocated personally to him/her alone, as opposed to some of our competitors whose depositors hold only unallocated metal documentation, i.e., merely debt certificates that may be worth nothing if the depositary goes bankrupt. Personal allocation makes our storage a high-quality service, infinitely more safe and reliable than competitors’ offers, that appear to offer a safe place while piling up some metal in bulk and lots of air.

SEE ACTIS certification – physical storage allocated by name

Ingots and coins are warehoused outside the banking system, at Loomis in Switzerland, in a vault built inside a high-security building, protected by physically present armed guards. This is better than simply an alarmed safe with video surveillance.

If you have opted for storage in the open customs bonded warehouse, the merchandise is in the same high-security building, but in a special “customs bonded” site.

Unlike gold, silver is subject to value added tax (VAT). Euporos SA offers several options: storage in Switzerland where silver is subject to VAT, or storage in an “open customs bonded warehouse” exempt from VAT.

The warehouse is on Swiss territory, but the goods are confined in a "customs bonded" zone. It is only when they leave this zone that customs duties and value added tax are payable. So long as they remain in the warehouse, they are totally exempt. They can remain warehoused there indefinitely.

For tax reasons, we can store on a long-term basis only imported ingots and not ingots manufactured in Switzerland. We have chosen a multinational European professional provider: “umicore”.

The warehousing fees for VAT-exempt ingots are the same rates as for storage in Switzerland of ingots subject to VAT.

And, of course, you have the benefit of the same personal allocation: each ingot with its specific serial number is allocated to you personally, with a detailed storage certificate.

You can ask Euporos SA to buy back your ingots at any time. If you wish to pick them up or have them shipped to you, in order to be able to remove them from the customs bonded warehouse, you will first have to pay customs duties plus the VAT of the destination country, calculated on the value of the ingot at the time it leaves the depot.

There is no value added tax (VAT) on gold, only on silver. There are two options: storage in Switzerland where silver is subject to VAT, or storage in an “open customs bonded warehouse” exempt from VAT (to learn more, see the previous question above).

Each of these two options has advantages and disadvantages. If you opt for storage in Switzerland, you certainly pay VAT, but at a low rate and on a low basic market price. You can then freely dispose of your ingot, take it away when you want, without paying any further tax. If on the other hand you opt for an open customs bonded warehouse, you certainly save the VAT, but if, later, you want to remove the ingot from the warehouse, you will have to pay VAT and customs duties, based on the price on the day you remove it, with the risk of it being higher than the price on the day you bought it.

For a short-term investment, the open customs bonded warehouse seems preferable. For the long-term, one of the other options may be more attractive.

The deposits of EUPOROS SA customers would not be touched if the guardianship company Loomis went bankrupt, because they do not constitute outright receivables against Loomis. On the contrary, they are objects of value physically stored in a space rented from the guardian, each object allocated by name to a particular EUPOROS SA customer. If Loomis went bankrupt, Euporos SA would have to empty its vault and remove its valuable objects, and ship them to their owners, or store them in another secure place.

Customers’ deposits would remain intact, because they do not constitute outright receivables against Euporos SA. On the contrary, they are objects of value, whose guardianship is entrusted to Euporos SA but remain the inalienable property of the customer and in no way form part of the assets of the company seizable by a bailiff or sellable by an official liquidator. All depositors, thanks to their certificates of storage, can retrieve their metals with no risk of confusion, because every ingot with its serial number is allocated personally by name and the company has stored all the orders in full (no “fractional reserve”).

Your deposit is therefore not a receivable, and Euporos SA is not your debtor. Your deposit and your property are unseizable, and Euporos SA is your guardianship service provider. You can therefore retrieve your property at any time, independently of the financial health of the company.

You can store any amount. There is no limit.

You can store just part of the order. If you choose to store only part of your order, you will just have to decide how to retrieve the goods you do not want to store.

If you do not want to store your metal, simply notify the administrator by telephone one week before the day that you want to come and pick it up. If you want to have it delivered to you, you will have to request it in writing by post.

Storage fees are defined in the Storage Contract (SC). For more information click here.

You can store for any length of time you want. However, if you remove your goods during the first year of storage, you will have to pay a sum of CHF 200.

You are insured against theft, burglary, fire, natural damage and water damage. Other risks (war, confiscation by the State, nuclear explosion, etc.) are not covered. The insurance premium costs 0.2 % of your deposit value as of 2 January.

See the storage contract.

HOW DO I PICK UP FROM THE SITE?

Once your order is paid, simply arrange a time with Loomis.

You can pick up from the following site (Monday to Friday 10am-12noon and 1pm-3pm):

Loomis
5 route des Moulières
CH-1217 Meyrin Switzerland.
tel: +41 22 939 0664

Four possibilities: 1° bank transfer, 2° available credit in your customer account, 3° cash, 4° bank card.

  • 1° If you have opted to pay by bank transfer, you have to order the transfer within 24 hrs, as interbank transfers take about three business days. Please specify to your bank that the transfer fees be charged to the party placing the order (mark your order “OUR COST”) so that we receive the sum due in full, without deduction of transfer fees charged by the banking system. Once you have ordered your transfer, it would be very useful to notify us that you have done so, by logging in to your customer account and ticking the box “report that my order is paid”.

Our bank details:

BENEFICIARY : Euporos SA, avenue de la gare 5, 1950 Sion SWITZERLAND
IBAN CHF : CH13 8057 2000 0094 9710 6
IBAN EURO : CH97 8057 2000 0094 9714 6
BIC/SWIFT : RAIFCH22
BANK CODE: 80572
BANK ADDRESS: Banque Raiffeisen, avenue de la gare 6, 1950 Sion SWITZERLAND

You must choose the option "fees charged to party placing the order" (OUR COST). Indicate your customer number in all bank transfers.

  • 2° If you want to use the credit balance on your customer account, your account is debited automatically. Tip: You can send us an "advance", which will be recorded on your customer account, which you can use to pay a future purchase, or storage fees. Sending a large advance to be able to settle multiple invoices over a period of time, avoids multiplying bank transfer fees and also saves time as each amount due is automatically debited from the credit balance.
  • 3° If you prefer to pay in cash, please contact us immediately to arrange an appointment to do so in person. Checking the origin of the funds and their conveyance creates an administrative cost for the merchant. Therefore, if you pay in cash, we will charge you a “cash-handling fee” of 5 % of the tax-excluded amount of the order.

When we buy back merchandise, you can choose to be paid either by bank transfer (free of charges), or in cash (“cash-handling fee” applicable at the same rate as above).

  • 4° If you wish to pay by bank card, you can do so via our secure web platform, or in person at our registered office.

You can agree (recommended by Euporos SA), or refuse, to pay in the currency of your bank card (transaction called Dynamic Currency Conversion or "DCC”). DCC has the advantage that you immediately know the exact amount in euros (or other foreign currency) that you will be debited. The Swiss franc amount of the invoice is also shown (EUR + CHF dual display).

A bank card transaction incurs an operating cost for the merchant. This is why Euporos SA requires the customer to pay a “card-handling charge” of 2.5 % of the tax-included debited amount, which is 2.8 % of the tax-excluded amount of the invoice.

The ordering process is simple. There are four steps:

My basket > Delivery and payment methods > Identification > Confirmation

  1. Select your products and quantities, which will be displayed in “My basket”.
  2. Select your “delivery and payment method”.
  3. Log-in to your customer account or create it.
  4. Confirm your order.

To learn more click here.

Bank transfer: The transactions are made directly between bank accounts, so we cannot see your personal bank details. Banks also have a protection system against data piracy.

Available credit on a customer account: You customer account on the Euporos SA website is in “https” mode, which offers a high level of protection against unauthorised third-party intrusion (hackers). HTTPS is one of the secure protocols used on the internet to protect data transmission.

Cash: Euporos SA has a counterfeit-note detector (advanced bank model, regularly updated).

Bank cards: Our web page for bank card payments is managed by the Swiss company ConCardis SA. ConCardis has 30 years of experience. ConCardis guarantees maximum security of customer data using the latest encryption systems. The customer’s personal data and bank card information are used only for the buying process and are not stored by the merchant.

There is a distinction: gold is VAT-exempt in Switzerland and the European Union, but silver is subject to VAT. As for other geographic areas, please contact the tax authorities in your country for details. For more information click here.

Silver is taxed at 8 % in Switzerland, whether ingots or coins. In some European countries, the VAT rate is lower for coins than for ingots. In other European countries it is identical. In France, for example, the same rate applies to silver ingots and coins. For more information click here.

Tip: You can avoid VAT on silver by storing your ingots “customs bonded”. For more information, see on this same web page the question "What is an open customs bonded warehouse?".

Our products and services prices are shown excluding taxes, to which must be added the value added tax (or not – see the various cases in the table below), to obtain a total including taxes.

delivery methodsilvergold
IN SWITZERLAND storage Swiss VAT 8 %  
Shipping Swiss VAT 8 % exempt  
pick up from site Swiss VAT 8 % exempt  
CUSTOMS BONDED open customs bonded warehouse exempt exempt
EXPORT shipping destination country VAT exempt

ADDITIONAL SERVICES (certificate of authenticity, shipping fees, storage fees, etc.) are fiscally linked to the metal to which they refer. Thus, for example, if a silver ingot is stored in Switzerland, the VAT also applies to the storage costs. However, if a silver ingot is stored “customs bonded”, the storage costs are exempt from any tax. As another example, if a package containing 500 g of gold and 7 kg of silver is sent to a Swiss address, part of the shipping fee is tax-exempt, the other part incurs tax prorated to the gold value / silver value of the package.

It all depends on the country to which the package has to be sent. The recipient pays the applicable VAT in his country to our carrier.

Note that if you choose this option, you will not pay Swiss VAT, as we will invoice you excluding tax.

The carrier collects the taxes and any customs duties due in the destination country, when it delivers the package to you (payable in cash, by bank transfer, bank card or cheque). If you live in the European Union, check that the carrier does not invoice you VAT on gold, as this error sometimes happens when a package contains both gold and silver and the carrier applies the VAT to the entire value, instead of separating what is exempt (gold) from what is taxable (silver).

If the ingots leaving the vault remain in Switzerland or are sold in Switzerland, no VAT is payable on top. However, if you want us to ship it to you in a foreign country (or if you pick them up yourself to take them to your home country), you will have to pay the applicable VAT in your country. The Swiss VAT that you paid at the beginning of storage will not be reimbursed.

There is a distinction between immediate export (order with “export delivery” option, shipped immediately) and deferred export (order with “storage in Switzerland” option) followed later by retrieval from the depot for shipping abroad). Immediate export is exempt from Swiss VAT (article 23, paragraph 2, point 1 of the Federal Law governing value added tax), but deferred export after a certain period of storage in Switzerland is considered “delivery in Switzerland” taxable in Switzerland, regardless of the fact that the object will later be transferred to another country.

Merchandise exported from Switzerland is exempt from Swiss VAT (article 23, paragraph 2, point 2 of the Federal Law governing value added tax) but may be subject to customs duties, taxes and VAT of the destination country, and are expressly stated as borne by you.

There is no State tax on resale in Switzerland. However, in France, for example, 10 % is payable, if the metal is resold in the European Union. Note that the French tax is NOT payable if the metal is resold outside the European Union! For the record, Switzerland is not part of the European Union. A resident of France who sells ingots stored at Euporos SA in Switzerland will under no circumstances be liable for this tax.

For more information click here.