FREQUENTLY ASKED QUESTIONS
Yes. When you sell your products to us, our minimum purchase amount is $1,000.00 (USD).
Champion Numismatic has been in business for more than 20 years and we have purchased over $1 billion of products from people just like yourself.
Champion Numismatics has relationships with all the mints in the world and we are an Authorized Purchased of the United States Mint, Perth Mint, Royal Mint, Banco de Mexico, Austrian Mint and over 50 more.
We carry the widest variety of products in the industry and are always looking to expand our inventory. We buy bullion, numismatics, semi-numismatics, rare coins, and currency.
Champion Numismatics, numismatists have more than 100 years of combined industry experience and are on-site to provide assistance to our Purchasing and Receiving teams at any time.
Selling your items to Champion Numismatics is easy, as it should be. When you are ready to sell items to us, just follow these simple steps: 1. If you have not already done so, open a free account online. 2. Call us at (844)-699-4653(GOLD) and lock in your price. 3. Securely pack and ship your items* in a new, unmarked box. 4. Include the provided detailed packing slip and the confirmation number you receive from the Champion Numismatics agent.
Yes, Champion Numismatics locks in the price of your product over the phone so you are not at risk of any market or premium movement while your metals are in transit.
Champion Numismatics will provide you with step by step instruction for packaging your products to give you peace of mind when shipping one of your most valuable assets. These detailed instructions not only protect your package but will help protect you in case there is any issue during transit and an insurance claim needs to be filed. Please note: If you absolutely must re-use a box, remove all previously used labels and make sure there is nothing indicating “hazardous materials” or “dangerous contents,” as your package may not be fully insured by USPS.
Once your transaction is confirmed, we are expecting you to ship your metals to Champion Numismatics within one to two business days. Once you have shipped the package, we require that you notify Champion Numismatics of the tracking number of USPS Signature Confirmation service. You will need to provide your tracking number by calling us at (844)-699-4653(GOLD) or by responding by email to the purchase order confirmation within one to two business days. If we are unable to verify that your order is in transit, Champion Numismatics is subject to cancel your order 7 business days after the order is confirmed. Additionally, if your order is canceled, you will be liable to cover any market loss we incurred by accepting the order to buy from you in addition to a $49.00 cancellation fee. This is covered in our Market Loss Policy. Furthermore, you will not be permitted to buy or sell to us in the future, until any applicable fees are paid in full.
Champion Numismatics processes all packages under video surveillance. If you do send us items that we did not purchase or send the incorrect item, a Champion Numismatics representative will call you to resolve the discrepancy. In the event this happens, you will receive a new price for the product we received. If that new price is not acceptable, Champion Numismatics will gladly return the item at the seller’s expense, which will be deducted from the existing order total. Champion Numismatics cannot remit payment to you until the discrepancy is fully resolved.
Once we have issued a confirmation number, all prices are locked-in whether buying from us or selling to us. It is not our intention to enter into buying and/or selling transactions, accepting the risks involved only to have them canceled. However, we realize rare situations happen where orders need to be canceled. Should you elect to cancel and/or offset your order, you must do so during normal business hours of 9 a.m. to 8 p.m. (ET) Monday – Thursday or 9 a.m. to 6 p.m. (ET) Friday. All cancellations are subject to our Market Loss Policy plus a $49.00 (USD) cancellation fee. Cancellations may only be approved over the telephone. At that time, if any market loss to Champion Numismatics has occurred, it will be calculated and added to the $49.00 (USD) cancellation fee. If applicable, you may elect to pay any market loss by credit card at that time or, we will invoice you by email, in which you will have thirty days to pay the amount due in full. Furthermore, you will not be permitted to buy or sell to us in the future, until any applicable fees are paid in full. Any market gain on cancellations shall remain the property of Champion Numismatics.
Yes. You may deliver your Precious Metals to us by pre-arranged appointment only. To lock in your price and make an appointment please call us at (844)-699-4653(GOLD).
Yes. Our internal freight carrier security team monitors each and every one of our incoming and outgoing packages for any unusual activity.
Yes. Champion Numismatics receives, checks-in and processes every order under video surveillance. In the event there is a discrepancy with what you send and what we receive, Champion Numismatics will gladly provide you a copy of the video for your records.
Champion Numismatics will send you real-time updates via email and/or text so you are always aware of the status of your order from shipment to payment. To sign up for text message updates go to your account settings under manage preferences.
After using Signature Confirmation service by USPS and not arrived at Champion Numismatics in the expected timeframe, we suggest that you contact USPS with the tracking information for further details. Also, please contact Champion Numismatics if you determine the package is lost in transit or the delivery will be postponed.
Champion Numismatics will have video evidence of all packages being delivered and, if applicable, showing any damage. Should your package have a shortage, this video evidence can be used in a claim. If you followed all Signature Confirmation service by USPS instructions provided by Champion Numismatics, a claims representative will inform you once we submit your claim with the carrier. Concealed shortage claims typically take between 10-15 business days from the delivery date to resolve. If the package was proven to be tampered with while in transit, you will receive the dollar amount insured for the missing contents. If the result of the claim investigation is there was no tampering with the package, your insurance may not be covered. If you used another shipping carrier and your package(s) come in damaged a Champion Numismatics representative will be in contact with you to resolve the damaged package. Champion Numismatics will have video evidence of all packages being delivered and, if applicable, showing any damage. Should your package have a shortage, this video evidence can be used in a claim.
No, there are no hidden fees for selling your items to us. It’s just that simple.
If your package arrives and the contents are not the correct quantity and/or ounces that were originally sold to us, a Champion Numismatics representative will contact you to resolve the discrepancy. In certain instances, there could be Market Loss involved, please see our Market Loss Policy. Champion Numismatics cannot remit payment to you until the discrepancy is fully resolved.
Champion Numismatics is not a financial/tax adviser and therefore cannot provide tax advice. We suggest contacting your trusted financial/tax advisor to determine if there are any tax implications of your purchase/sale of Precious Metals.
The 1099-B form is used to report any proceeds paid to a non-corporate seller to the IRS. This reporting enables the IRS to determine whether individuals who may be selling items as a source of income have properly reported the income from those sales on their tax returns. If you have additional questions, please consult a tax professional for details on your specific tax situation.
No, when you sell your items to us there are no receiving fees. The prices quoted are the prices we will pay.
A W-9 is a Request for Taxpayer Identification Number and Certification. It is a commonly used IRS form that individuals and businesses provide to businesses that are paying them.
There are certain purchases of specific products in specific quantities that require Champion Numismatics to file a 1099B. In order to file a 1099B, we must have a W-9 completed to have the necessary information in order to file that form.
One of the purposes of IRS Form 1099-B is for a Precious Metals dealer to report the proceeds of customer sales to the dealer of any of the Precious Metals from the IRS Reportable Items List. If you have additional questions, please consult a tax professional for details on your specific tax situation.
Dealers are required to file a 1099-B form when a customer sells the minimum quantity of any Precious Metals product that is included on the IRS’s Reportable Items List. Reporting specification varies depending on the specific coin or bullion piece(s) sold. If you have additional questions, please consult a tax professional for details on your specific tax situation.
The IRS has specific rules related to reportable transactions that require a Form 1099-B to be filed and those rules are included in the Form 1099-B instructions on the IRS website. The following are guidelines provided by ICTA related to Precious Metal sales, and these guidelines, as well as the IRS rules, are subject to change at any time without notice.
|Reportable Item||Minimum Fineness||Minimum Reportable Amount|
|Gold Bars||0.995||Any size bars totaling 1 Kilo (32.15 troy oz) or more|
|Silver Bars||0.999||Any size bars totaling 1000 troy oz or more|
|Platinum Bars||0.995||Any size bars totaling 25 troy oz or more|
|Palladium Bars||0.9995||Any size bars totaling 100 troy oz or more|
|Gold 1 oz Krugerrand Gold 1 oz Maple Leaf Gold 1 oz Mexican Onza||as minted||Twenty-five (25) 1 oz coins|
|U.S. 90% Silver Coins||as minted||Any combination of dimes, quarters, or half-dollars totaling $1,000 face value or more|