Gold Bar Layaway Plan
Own gold, your way.
Own gold with our flexible layaway plan. Contribute a set amount each month and choose to own anywhere from 10 to 100 grams of gold. Each installment payment you make accumulates until you can purchase a gold bar at the current market price of gold.
Currently, this plan is only available for clients interested in our Golden Library Card service. Participation in this plan requires a 3-month commitment to store & insure your gold bar through Gulab Jewelry after it’s been paid off. Gold bars are protected in a maximum security bank vault at an industry leader in precious metals storage.
After 3 months, you are welcome to withdraw and take possession of your gold bar anywhere in the USA.
To learn more, visit our Golden Library Card page to learn about the unbelievable benefits of opening a storage & insurance account through us.
Here’s how it works.
Step 1:
Based on your individual budget, choose a plan that works best for you.
| Gold Quantity | Monthly Installment | Bullion Premium | Est. Time to Payoff |
|---|---|---|---|
| 10 grams | $80/mo | $50 | 10–12 months |
| 20 grams | $150/mo | $70 | 10–12 months |
| 31.1 grams (1 oz) | $250/mo | $80 | 10–12 months |
| 50 grams | $500/mo | $125 | 8–10 months |
| 100 grams | $750/mo | $250 | 10–12 months |
Step 2:
After selecting your plan, you’ll sign our layaway contract and pay the Bullion Premium to officially start your layaway plan.
Step 3:
Each month you will pay your monthly installment amount and accrue towards your gold balance. After your second to last installment payment, we will lock the price of gold at the current market price.
Once we lock in your gold price, your last installment payment will be updated so you pay the exact amount owed for a gold bar (not a dollar more or less).
After your adjusted last installment payment is received, you will receive ownership and title of a certified gold bar. You will receive a serial number of your gold bar along with a picture for verification.
Additionally, you will also receive our storage & insurance agreement for you to protect your gold bar. This layaway plan requires a 3-month minimum storage commitment.
After 3 months of storage, you are welcome to withdraw or sell us the gold bar to close your storage account.
Why Own Gold?
Protect against Inflation:
- In 1984, it used to cost $3,600 to feed a family of four for one year. Back in 1984, this was about 10 oz of gold.
- Today, it costs $18,000 to feed that same family, but it only costs about 8-9 oz of gold.
- The same amount of gold gets you about the same amount of food, no matter what time period you find yourselves in.
No Taxes:
- No sales taxes on gold purchased in Illinois or on gold stored in Illinois.
Higher Resale Values:
- Sell your gold at 99% of spot value if you open a Golden Library Card with us.
Eternal & Universal:
- Gold has been used as currency for thousands of years and is valued within every country of the world. You’ll always be able to sell your gold, whenever and wherever you need to.
Perks:
- Use your gold anytime and anywhere to borrow fine jewelry. Plus other perks.
Interested in getting started? Reach out via chat or phone to learn more about this unique option to own gold at your own comfort level.
FAQ’s
How does the layaway plan work?
Pick an installment plan according to your budget shown above. Contribute each month’s installment payment and when you’ve accrued enough to purchase a gold bar, we’ll lock it in for you at the current market price of gold.
After you lock in your price of gold, your last installment payment will be updated to reflect the exact amount owed. Once you pay off the amount owed, you’ll receive ownership of your personal gold bar.
We’ll share with you a serial number and picture verification of the gold bar that you own. You’ll also be prompted to sign our storage agreement for a 3-month minimum. You’re welcome to withdraw or sell your gold back to us after the 3-month period.
Why do you wait to lock the market price until after our second to last installment payment?
Due to interest charges associated with holding a specific price of gold, we wait to lock in your metal price until you’re close to paying it off to keep your costs the lowest. This also ensures you don’t pay anything more than what your bar is worth at the time of locking.
What if we change our mind during the plan?
We’ve made this plan customer friendly. There are no late fees for payments nor any penalties assessed with canceling a plan.
If you cancel a plan, all your installment payments minus the Bullion Premium will be refunded to your account of choice.
Four weeks of delinquency may initiate auto cancellation of your plan resulting in all installment payments minus the Bullion Premium being refunded to your account of choice.