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1.800.601.GOLD (4653)

Terms & Conditions

ASSET DIVERSIFICATION

At Citizens Gold, Inc. (“Citizens Gold”), we adhere to the old saying that one should not put all his eggs in the same basket. Smart investing requires diversification so as to spread the risk. We recommend that investment in rare coins and bullion not exceed 20% of an investor’s portfolio. We encourage our clients to seek independent financial advice from qualified institutions before acquiring rare coins and/or bullion that exceeds 20% of the entire portfolio. A well balanced portfolio should also contain securities, equity and fixed income products.

WHAT YOU NEED TO KNOW BEFORE BUYING OR SELLING GOLD OR OTHER PRECIOUS METALS

We have always urged our clients to become educated and to do their diligence before buying. Gold comes in many shapes and sizes and no one shape or size fits all. There is no one right purchase for every buyer. It all depends upon one’s objectives, time frame to hold and risk tolerance. The age of the purchaser, his asset base and employment status are important considerations. Gold, as a safe haven or hedge against inflation is a great concept if properly utilized and it can indeed protect against the weakening dollar and can in fact serve as a hedge against other assets declining in value.

Whether bullion in the form of coins, bars or otherwise is the right type of investment depends upon the buyer. Gold bullion, which has its value strictly in the value of the metal, trades with the spot gold market and is often affected by global or National economic developments, conditions, and news. On the other hand, gold in the form of pre-1933 Numismatic products trade both based upon the spot price on any given day (for the intrinsic value of the metal if melted) as well as other factors. Various degrees of premiums are attached to the purchase of each product, whether bullion or private gold.

Rare coins and scarce coins are valued upon factors other than merely the spot price of the metal. The condition of the coin, the mintage, the design and the historic sales or auction records affect resale value. As a matter of practicality, there is a lower premium attached to bullion than to private gold. No seller or reseller of gold to the public or the industry is a nonprofit enterprise. All are in business to make a profit. All pay to acquire the product they sell to the public. In turn, the premium that a gold seller charges a customer to purchase a product is generally less for bullion than for private gold.

All our premium ranges are disclosed in our brochure, in our educational documents, and on our website. Those premiums vary according to numerous factors, the primary one being supply and demand. When a customer gets ready to sell his holdings, he needs to overcome the spread or premium in order to make a profit. This is no different than a supermarket buying an apple for 50 cents and selling it to a customer for 60 cents. If the customer wants to sell the apple and make a profit, he needs to sell it for more than the 60 cents he was charged, irrespective of what the supermarket paid for the apple. The amount of profit the supermarket made 10 cents, in part goes to the cost of its lease, its employee wages, electric and other items of overhead. If the factors affecting the premium have changed from the time of acquisition to the time of customer’s sale, the ultimate price he realizes may be positively or negatively impacted, irrespective of whether the spot price of the metal is higher or lower on the date of his resale than the date of his acquisition of the product.

Sometimes a customer gets ready to sell a product and realizes that he might have done better had he acquired private gold, a numismatic rarity or bullion instead of the product he decided to acquire. Sometimes, the educated investment turns out to be the right decision. Nobody has a crystal ball and nobody can predict with entire accuracy which type of product will in fact perform better than others in the time interval between acquisition and resale. Historically, however, gold has in fact outperformed the Standard and Poors Index and the stock market in general (see the charts and graphs in our materials). Some potential clients have asked whether they can accomplish the same objective by buying gold stocks and what downside, if any exists for them to do this. While gold can certainly be purchased in the form of a stock certificate in a company, many clients have correctly pointed out that they would rather take physical possession of the actual gold, than to potentially be the victim of the horror stories we have all heard when a company goes bankrupt or even when the selling company offers to store your gold for you. Citizens Gold always delivers the gold to you by the US Postal Service, Brinks or other safe forms of delivery. We do not store it for you or give you a certificate.

Even when purchasing shares of stock in a reputable gold refinery, the price of that stock is affected and sometimes drops based upon factors other than the price of gold. For instance, gold stocks may drop based upon how the company is run by the CEO, whether their overhead and expenses are too high, whether the CEO takes a multi-million dollar salary or whether the company buys a private jet for the CEO’s use. At Citizens Gold, we have a simple formula: we sell the product you think is the best match for you, and you alone take delivery of it and hold it until you are ready to sell it or leave it to family as a part of the buyer’s estate. When you are ready to sell, you decide the timing and to whom you will sell and at what price. We will offer what we believe is a competitive price and our 1% liquidation fee on bullion buy backs, which we believe to be very competitive and beneficial to our customers. However, our customers are encouraged to shop the market and sell to whom they want, when they want and at the best price they are offered.

RECOMMENDED HOLDING PERIODS

Both a purchase of rare coins as well as bullion should prudently be considered a long-term investment. While situations have historically existed where investors and collectors have made quick profits, we at Citizens Gold, Inc., believe that a proper perspective for gain requires a long-term commitment of 3-5 year minimums and preferably between 5-10 years to maximize appreciation. Since ongoing and fluid market conditions affect the length of the holding period, it is impossible to say with certainty just how long a prospective holding period should be.

RETIREMENT ACCOUNTS

Not all coins qualify to be held in an IRA. Citizens Gold, Inc. has the resources to provide our clients with appropriate referrals for trust and custodian services, but the ultimate decision is that of the client. Appreciation of assets held within an appropriate retirement account are not taxable by the IRS or the state until such time as the assets have been disbursed to the individual. We do not charge any additional fees or commissions on buybacks other than a 1% liquidation fee.

DELIVERY OF PRECIOUS METALS

Unless your state of residency requires a different delivery, your purchase will be safely packed and shipped fully insured with a target delivery date not to exceed 28 days from our receipt of cleared funds. Unless otherwise specified in writing at the time of customer’s order, Citizens Gold shall cause all precious metals purchased and paid for to be delivered to customer’s address listed on the invoice. Citizens Gold only uses reputable nationally recognized delivery services to deliver its precious metals.

If, however, customer’s order is lost prior to delivery, customer is instructed to notify Citizens Gold, in writing immediately. Notice of any such alleged loss should be sent to: Citizens Gold, Inc., Attention: Customer Service, 16000 Ventura Blvd., Suite 701, Encino, CA 91436. If the delivery service verifies that customer’s precious metals were never delivered, Citizens Gold shall within forty-five (45) days of such verification, in its sole discretion, either refund to customer the full purchase price for such undelivered precious metals or replace such precious metals with other precious metals of the same denomination/type and grade.
Citizens Gold assumes no responsibility for precious metals lost after delivery to customer. Citizens Gold assumes no risk of loss for any precious metals purchased from a customer until such materials are delivered to and accepted by an authorized representative of Citizens Gold. In the unlikely event that the shipment delivered does not fully coincide with your order, such variance must be reported to us within 5 days of your receipt of the items. We ask that you save all the original packing materials.

LIQUIDATION

If and when you decide to sell your coins, Citizens Gold will buy them back at the then current bid-buy price we establish. While you may always elect to liquidate your coins through other dealers, in a private transaction or at auction, we hope you will provide us with the opportunity to make you an offer that we believe will be better than you will receive elsewhere. We do not charge any additional fees or commission on buybacks other than a 1% liquidation fee on cash purchases and 5% on credit card purchases. Depending upon market conditions and your original purchase price, you may receive less than what you paid for the coins and currency. The bid or buy back price we establish is based on then current market conditions and in certain instances, Citizens Gold may no longer be recommending that product. The market price at the time of the sale may be greater or lesser than at the time of acquisition.

LIQUIDITY

Of the products that we generally buy and sell, bullion and bullion coins are more liquid than semi-numismatic coins and semi- numismatic are generally more liquid than numismatic or rare coins.

RISK

Every investment involves risk. An investment in coins and/or bullion are not exceptions to this general rule. Investment in rare coins, numismatic products, precious metals and bullion are speculative and sometimes volatile. Depending upon a myriad of factors, prices may increase or decline within a finite time. While certain individuals have been known to make guarantees that the investor will achieve a certain rate of return, Citizens Gold cannot and will not participate in such irresponsible representations.

Bullion and numismatic coins are as different as night is to day. Bullion (such as American Eagles, South African Krugerrands and Canadian Maple Leafs) has a value that is based upon gold content and purity and is directly affected by the active and daily market price of bullion by what is referred to as “spot price”. The current value of a rare coin of numismatic interest is also determined by a myriad of factors. These factors include but are not limited to: the mintage, current population of the coin, the degree of its quality, the grade assigned to it by a grading service, the reputation of that grading service, the collector demand for that coin, the historic pricing of the coin in that particular condition, overall desirability, appearance and economic factors.

Citizens Gold, Inc. encourages our clients and prospective investors to consult with the appropriate financial advisors to determine the suitability of rare coins, numismatic products and/or bullion investments for you and your specific circumstances. Investment of your assets requires a complete understanding of the potential investment and the products you seek to acquire. The decision as to whether investment in rare coins and or bullion is appropriate for you is one that requires a complete financial analysis by an independent financial advisor. Factors which include your adequacy of liquid assets and the ratio of “disposable income” to all sources of income are appropriate considerations before an individual enters into any investment. Again, coins, bullion and precious metals are no exception. The proposed source of payment for any investment including an investment in coins, bullion and precious metals is one that appropriately requires independent financial advice. Citizens Gold does not recommend the premature withdrawal of funds from accounts, securities or other financial products which may result in penalties, fees or surcharges. An appropriate independent financial advisor can and should advice regarding this, as well as the tax implications of any transaction before you make a decision to buy or sell.

PRICING

Just as in any other business, the sale of coins, precious metals and bullion, involve a transaction cost. That cost is, in essence, the spread or price differential between the “ask” or selling price and the “bid” or buy-back price. A typical spread on bullion (American Eagles, Canadian Maple Leafs and South African Krugerrands) is approximately 5% to 20%, depending upon a myriad of factors including but not limited to the then current spot price.

Citizens Gold’s spread on numismatic products excluding rare or scarce coins have an approximate range between 20% and 40%, again depending upon various factors affecting market conditions and particular coins.

The price of all bullion purchases, including but not limited to coins & metals for IRA purchases, can only be locked in, at such time and on such date as payment for same has been received by Citizens Gold as either a confirmed receipt of the customer’s wire transfer to the designated Citizens Gold bank account or by the customer’s check clearing the bank on which the funds are drawn. The price of a bullion product is based upon the spot price of the gold, silver, platinum or other precious metal plus the agreed premium above same. The spot price of all such precious metals may vary (higher or lower in U.S. Dollars) between the date of the telephonic or other means of order by the customer, and the date and time of the receipt of payment in the manner referred to herein above. It is the later date, upon which the purchase price is locked in for the customer’s purchase and during Citizens Gold regular business hours, Pacific Standard Time.

Another consideration when contemplating coins as a long term investment (see “Recommended Holding Period” above) is that in order to realize a profit on the sale of your coins, there must have been sufficient time for them to appreciate so as to overcome the above price differential and any applicable premium.

It is important to note that Citizens Gold’s profit before its operating expenses may or may not exceed the spread. The prices charged by Citizens Gold may not remain the same from day to day based upon various market conditions.

EXCHANGE TRANSACTIONS POLICY

Citizens Gold discourages the exchanging of rare coins for others. The purchaser must be fully cognizant and consider all transactional costs, including but not limited to the buy and sell costs. Since the person exchanging must necessarily overcome both spreads before making a profit, it is essential that he or she fully understand the costs involved in both the buy and the sell transactions. There is no absolute certainty that one particular product will outperform another and for this reason, Citizens Gold strongly encourages the potential investor to seek independent financial advice as to whether the particular transaction he entertains, is in fact appropriate for him in all regards.

OUR REFUND POLICY

Citizens Gold has a “no questions asked” refund policy for numismatic coins, as specifically described herein. Citizens Gold’s customers may, for any reason whatsoever, request a refund on their first purchase only for numismatic products (not bullion purchases). To be eligible for the refund, Citizens Gold must be notified in writing by the purchaser of the request to rescind the initial transaction within (7) days from the date the written purchase confirmation is postmarked by the USPS to the customer, or the date of delivery to a private delivery service (i.e. FedEx, DHL, UPS), whichever comes first. All other transactions are final upon mailing of the customer’s order. Your state of residency may have rules which are more expansive and/or superseded Citizens Gold’s refund policy; and in such event, those rules may apply.
In the event the client does not pay for his or her order and does not cancel or rescind as stated hereinabove, Citizens Gold may elect to liquidate all or some of the client’s stored holdings and apply the proceeds of the sale of same to the client’s unpaid order. In the event of such a breach by the client, Citizens Gold need not re-purchase any such coin(s).

BUY-BACK POLICY

It is a violation of the law for Citizens Gold to guarantee the repurchase of any particular coin sold by us. Please note, however, that while we are prohibited from making such guarantee, we will provide bid or buy-back price which the client, in his sole discretion, may choose to accept, as payment for selling the coin back. We do not charge any additional fees or commissions on buybacks other than a 1% liquidation fee on cash purchases and 5% on credit card purchases. Depending upon market conditions and your original purchase price, you may receive less than what you paid for the coins and currency. This buyback policy is not guaranteed and hence, subject to change and/or elimination. Regarding bullion transactions, bid or buy-back prices will be quoted upon request. Our bid or buy-back policy is not standard or uniform. Prices quoted to customers for the resale of coins purchased from Citizens Gold may in fact be at a bid price greater than the price that is quoted to individuals who did not purchase those coins from Citizens Gold. In regard to rare coins, we strive to offer the highest wholesale price for bids to repurchase inventory.

GRADING

Citizens Gold utilizes the industry recognized Mint State (MS) grading system which identifies the condition of coins (and uncirculated coins identified as MS-60 to Ms-70). Among considerations affecting the value of a coin, is the grade assigned to it. Grades depend upon the subjective opinion of the person doing the grading and it is designed to reflect considerations including the strength of the strike, any marks, hairline scratches, and the overall eye appeal of the coin. . It has been said that beauty is in the eye of the beholder. Hence, the numerical grade can vary depending upon the rare coin grading service and the particular expert rendering an opinion by assigning the numerical grade. Because a difference in one grade point can substantially affect the market value of a rare coin, Citizens Gold traditionally relies upon the expert opinion of well regarded and well reputed grading services such as Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC). Over the years, grading standards have evolved and changed. Some have become more stringent and some less. The numerical assignment of grade is not a guarantee but rather a subjective opinion. In the event you purchase a coin from Citizens Gold that has been graded by PCGS or NGC, Citizens Gold has relied upon the expertise of the grader in determining the particular grade assigned. Citizens Gold does not render any independent evaluation as to the numerical grade assigned by the grading service.

GENUINENESS AND AUTHENTICITY

Citizens Gold, Inc. does guarantee that the rare coins and other numismatic items it sells are in fact genuine and authentic in all regards.

REMEDY FOR CUSTOMER’S FAILURE TO PERFORM

If Customer refuses to accept delivery of the Precious Metals ordered or fails to make payment when due, Citizens Gold, in its sole discretion, may cancel the transaction and resell such precious metals on a wholesale basis. If the proceeds from such resale are less than the contract price with customer, Citizens Gold shall be entitled to recover from customer the difference between the resale price and customer’s contract price.

ACCOUNT EXECUTIVES

Citizens Gold’s account executives receive their compensation based upon commission and sales. Numismatic and rare coin purchases ordinarily provide the greater commissions and the sale of bullion products (Canadian Maple Leafs, South African Krugerrands, and American Eagles) provide lesser commissions. Citizens Gold’s account executives come from varying backgrounds. Their employment background, level of education, degree of expertise, training and overall knowledge vary. The account executives are not licensed investment advisors and are not qualified or authorized to recommend or comment on the appropriateness or fitness of any investment, product or sale of any investment product other than the products that are to be sold by Citizens Gold. Citizens Gold strongly encourages prospective investors to consult with licensed professionals who have expertise in the particular field of inquiry prior to making a decision to purchase or sell any financial or related instrument, including but not limited to: fixed assets, securities, bonds, insurance products, financial instruments, precious metals, bullion, numismatic products and rare coins.

GROWTH PROJECTIONS

Citizens Gold, Inc., in its brochure, website, through account representatives or otherwise, may from time to time, advise clients and prospective clients relative to forecasts made by third parties and/or representatives, employees, staff and/or affiliates of Citizens Gold, Inc. relative to future prices of rare coins, numismatic products, precious metals and bullion. In providing advice or projections, Citizens Gold does so with consideration of the following factors:

PAST PERFORMANCE

While past performance is a useful guide, it is one of many factors to be considered and is not a guarantee of future results. There is a frequent assumption that if particular coins or bullion made gains historically under certain economic conditions, that a potential exists for economic value appreciation when similar conditions appear in the future.

ECONOMIC FORECAST

While it is impossible to predict price trends or economic conditions, we do, however apply research, common sense and logic as a means to forecast future trends. These trends are, in our belief, a guide to be considered in evaluating the future economic potential for rare coins and bullion.

SUPPLY AND DEMAND

The basics that have historically affected fundamental market forces are, in our belief, to be taken into consideration in regard to the forecast of future trends of supply and demand. No person can accurately guarantee that growth potentials will be achieved and economic conditions as well as other factors in society and the economy may cause prices to decline. While Citizens Gold does not and cannot guarantee its forecasts or projections, we do, however, set our goals high in providing the client with an analysis that is thoughtful as well as reflective of our opinion.

PROTECTION AND ACCURACY

Telephone calls may be monitored and/or recorded to assure quality control and full compliance with policies and procedures of Citizens Gold, Inc. This is for customer protection and to assure accuracy and eliminate misunderstandings in orders that are placed.

We value your privacy and if at any point in time you no longer wish to be contacted by a Citizens Gold, Inc. representative, please call or write us and ask to be placed on our Do Not Call list.

Should you ever receive information that is inconsistent or contrary with the information contained herein, please immediately so advise Citizens Gold, Inc. Director of Marketing at (800) 615-1513. In the event you have any questions or concerns regarding a particular transaction, we urge you not to proceed with it until your questions have been fully answered to your satisfaction or your concerns have been eliminated.

All payments should be paid only to Citizens Gold, Inc. You may pay by bank wire, certified check, cashier’s check or personal check. Please do not send cash, money orders or traveler’s checks. Note that all forms of payment other than a wire transfer are subject to a 10 business day hold.

All coins, bullion and/or precious metals must be sent to CG Inc. (do not mention Coins or Metals on shipping container), 16000 Ventura Boulevard, Suite 701, Encino, California 91436. All such mailing should be registered mail, return receipt requested and fully insured by you. In regard to safe packing requirements, please check in advance with your account representative. In order to assure prompt and safe mailing of our products to you, we request that you promptly notify us in writing in the event you change your address. In order to protect against identity theft, it is requested that such written notification be signed by you and notarized with a copy of your driver’s license or recent utility bill. Please include your account number on all such correspondence.

FINALITY INTEGRATION CLAUSE

These terms are intended by Citizens Gold and customer as a final expression of their agreement concerning the matters set forth herein, and is also intended as a complete and exclusive statement of the terms of their agreement. These terms superseded any oral or written statement made prior to, contemporaneous with, or in the future regarding this transaction or the transactions covered hereunder. Customers shall not rely upon any statement made by or on behalf of Citizens Gold, Inc. that is inconsistent with this agreement.

DISCLAIMER OF EXPRESS AND IMPLIED WARRANTIES

Except as specifically set forth herein, the items sold by Citizens Gold are sold on an “as is” basis and Citizens Gold makes no warranties, express or implied, and specifically disclaims any warranty of merchantability and or fitness for a particular purpose.

CONSEQUENTIAL DAMAGES; LIMITATION OF LIABILITY

In no event shall Citizens Gold have any obligation or liability (whether in tort, contract, warranty, or otherwise, and notwithstanding any fault, negligence, or strict liability), for any indirect, incidental special or consequential damages sustained or arising from or related to any transaction, and whether or not Citizens Gold has knowledge of the potential for such damages. Further, Citizens Gold’s liability to customer for any reason, and upon any claims, shall at all times be limited to the amount actually paid by customer for the items in dispute.

CHOICE OF LAW

Any and all transactions between customer and Citizens Gold shall be governed by the laws of the State of California.

JURISDICTION AND VENUE

JURISDICTION for any dispute, claim or controversy arising out of or relating to this or any other transaction between Citizens Gold and customer shall be in the state of California for such purposes. VENUE, for California consumers, shall be in the Superior court in the county where the consumer in fact signed the contract, where the consumer resided at the time the contract was entered to, or where the consumer resides at the commencement of the action. Venue for out-of-state consumers shall be in the county of Los Angeles.

ARBITRATION OF DISPUTES/TIME LIMITATIONS

Citizens Gold and Customer agree that any dispute or claim in law or equity arising out of any transactions between them, shall be decided by binding arbitration, before a single neutral arbitrator, pursuant to the provisions of California Code of Civil Procedure, 1280, et swq. Judgement on the award may be entered in any court having jurisdiction thereof

CITIZENS GOLD, INC.’S BEST PRICE GUARANTEE PROGRAM (BGP)

1. Citizens Gold offers its Best Price Guarantee on qualifying full-priced purchases of semi-numismatic and numismatic coins with Citizens Gold’sBest Price Guarantee Program (BPG). Under Citizens Gold’s BPG, if Citizens Gold’s advertised selling price for semi numismatic or numismatic coins is reduced by Citizens Gold within 14 calendar days of the date of telephone confirmation, you may contact Citizens Gold and request that the purchase of these coins be re-priced at the lower price. The following are the terms and conditions for qualifying trades, which must be identified as such during the telephonic taped confirmation of your order.
2. You may only exercise the right to reprice after Citizens Gold receives payment via wire. You may only ask Citizens Gold to re-price the order once during this 14 day time period. It is your obligation to follow price changes of your purchase(s); Citizens Gold will not contact you about changes in prices. The BPG Program applies to orders of semi-numismatic and numismatic coins, where the purchase price is $10,000 or more and the buyer’s funds are wired to Citizens Gold and received within 48 hours of the taped telephone confirmation of the order details. To re-price a purchase, you must take the following steps: (1) Re-pricing requests must be made on Monday through Friday (excluding holidays) between 7 a.m. and 5:30 p.m. PST by fax to (818) 990-1755 or by email to adrienne@citizensgold.com; (2) Client’s re-priced order must be confirmed in a tape-recorded confirmation by a Client Service Representative.
3. Re- Priced orders will be at the ask price that is effect at the time of re-pricing. The difference between the original purchase price of the order and the re-priced amount will be applied as a credit toward the purchase of additional coins of the same type (Client will not receive a refund of the difference). For example, if the original purchase is for Swiss 20 Francs which have been re-priced, the difference in price will be applied to additional purchase of Swiss 20 Franc coins. Any balance after the purchase of these additional coins will be retained as a credit in your account for future purchases. Upon re-pricing, your order is final.
4. Citizens Gold reserves the right to change or discontinue its BPG program at any time.

CITIZENS GOLD’S ONE PERCENT MARK-UP PROGRAM (OPM)

Citizens Gold will sell certain bullion products at a premium of 1% over dealer cost. In order to qualify for Citizens Gold’s OPM program, the dollar percentage for the purchase of bullion cannot exceed 20% of the client’s total order and such order must be a minimum of $10,000. The remaining dollar percentage of the order must be for semi-numismatic and/or numismatic coins. The OPM program will apply only to orders that are designated as such in the taped telephone confirmation of the order details.

CONCLUSION

Citizens Gold, Inc. urges you to do your due diligence and develop a sound appreciation of rare coins, numismatics, precious metals, bullion and their markets prior to making your first purchase. It is essential that you understand the market as well as the numerical grading system. You can and should protect your future with a diversified portfolio that is consistent with your objectives and your individual investor profile. Seeking the advice of an independent financial planner and not committing more than 5% to 20% of funds allocated for investment into rare coins, bullion and precious metals is well advised. Safety, liquidity and growth can only be achieved through knowledge and proper advice. Be ready to seek out experts in the areas of your financial interest. Likewise, the rare coin and precious metals market like other markets is subject to fluctuation and from time to time both increases and decreases in value. Be prepared to hold your coin, bullion and precious metals investments for a minimum of 5 years. Investors must be able to assume the risk of price fluctuations. Both knowledge and due diligence are essentials to a solid foundation prior to any investment whatsoever.