Bullion Pricing, Delivery and Storage
Can I lock in a bullion price before I pay?
The short answer
Whether a bullion price can be locked before payment depends on the dealer's rules. Where a price lock is offered, it usually fixes the price for a specific product and quantity for a limited period, on condition that payment arrives in time. If it does not, the order may be cancelled or repriced. Ask Knox to confirm its current price-lock rules before you commit to an order.
What a price lock means
A price lock is an agreement that the price quoted for a specific bullion product and quantity will not change for an agreed period, even if the market moves. It protects you from the price rising while you arrange payment, and it protects the dealer, which usually buys or reserves the stock at that moment, from the price falling before you pay.
How price locks generally work
- You request a quote for a specific product and quantity.
- The dealer confirms the price, how long it will hold and the accepted payment methods.
- You accept the order, often in writing, which creates a commitment on both sides.
- Payment must reach the dealer and be confirmed within the agreed period.
- Once payment is confirmed, the order proceeds to collection, delivery or storage.
What can happen if payment is late
Because the dealer has committed to a price, a locked order that is not paid in time may be cancelled or repriced at the current market level. Depending on the terms, the buyer may also be responsible for a loss caused by the price movement. These consequences should be explained before you accept. Payment confirmation matters too: a transfer that has been sent is not always the same as funds that have cleared.
What depends on Knox and on you
Whether a lock is available, how long it lasts, any minimum order and the payment methods accepted are all Knox policy. A quoted price is valid only within the AM or PM pricing window in which it is given. To secure it, proof of payment must reach your Knox sales representative before that window closes; otherwise the price may change. Coins are only released once the funds have cleared, and if payment is not made in time a new quote is issued and you are liable for, or refunded, the difference. On your side, bank processing times, the size of the order and identity verification can affect whether payment is confirmed in time. Before accepting a locked price, make sure you can pay within the period, read the terms that apply and ask Knox what happens if anything is delayed.
How Knox handles this
Ready for the next step?
Speak to the Knox team about your situation. They will confirm current pricing, availability and requirements before you decide.
