Terms and Conditions

These Moonstone Gold terms and conditions, referred to as the “Conditions”, explain how Moonstone Gold Limited purchases goods from customers. Moonstone Gold Limited trades as Moonstone Gold and moonstonegold.co.uk. These Conditions apply whenever Moonstone Gold Limited purchases or considers purchasing goods from a customer.

Unless these Conditions expressly state otherwise, they replace all other terms relating to the purchase. They also exclude terms that a customer may seek to impose or incorporate. In addition, they exclude terms arising through trade, custom, practice or previous dealings. The customer waives any right to rely on those excluded terms.

Please read the Moonstone Gold T&Cs carefully before sending any goods. In particular, review Clause 3 on delivery, Clause 7 on returns and Clause 10 on liability. These clauses may affect your responsibilities, costs and legal rights.

The Moonstone Gold terms and conditions form part of the agreement between Moonstone Gold Limited and each customer. Therefore, contact Moonstone Gold before sending goods if any provision remains unclear.

Your attention is drawn specifically to Clause 10, which addresses liability.

Clause 1: Defined Terms in the Moonstone Gold T&Cs

BIS Form: the MGL Buy-in Service Form that MGL issues to the customer and the parties complete and sign.

Business Day: any day when banks in London open for business. Saturdays, Sundays and public holidays do not count as Business Days.

MGL Packaging: tamper-proof packaging for the goods. It may include a tamper-proof box, tags, bubble wrap and other required packaging materials. MGL issues this packaging under Clause 3.

Customer: the person, firm, company, organisation or other entity selling, or seeking to sell, goods to MGL.

Goods: gold, silver, platinum, palladium and other precious metal goods. This includes UK coins, bars, medallions and jewellery. Goods may also include brass, copper and other base-metal products. The definition covers similar products that a customer offers and MGL may wish to purchase.

Inspected Goods: goods that MGL has inspected under Clause 2.

Packaging Cost: any applicable packaging cost described in Clause 3.

Price: the amount MGL offers to pay for the goods under Clause 5.

Purchase Confirmation: MGL’s confirmation that it is prepared to purchase the inspected goods.

Inspection Location: Moonstone Gold Limited, PO Box 239, Stamford, Lincolnshire, PE9 4WX, United Kingdom.

Sell to MGL Form: the form available through the Website. The customer should complete it before sending goods to MGL.

Website: the MGL website at https://moonstonegold.co.uk, or another address that MGL specifies.

Clause 2: Inspection Under the Moonstone Gold Terms and Conditions

Inspection Process Under the Moonstone Gold Terms and Conditions

The customer informs MGL about goods for sale by delivering them to the Inspection Location. The customer must follow the delivery requirements in Clause 3.

Weight and Specification Checks

When MGL receives the goods, it will weigh and inspect them. MGL will check whether they match the relevant Sell to MGL Form or BIS Form. Alternatively, MGL will compare them with another description that the customer supplied.

MGL will also use the inspection to decide what Price it is willing to offer. MGL will record the inspection on video.

Testing Fees Under the Moonstone Gold T&Cs

MGL may charge an inspection fee when precious metal goods lack a hallmark. MGL sets this fee from time to time. The fee may apply if testing shows that the goods do not contain the metal described.

If MGL purchases the goods, it may deduct the fee from the Price. Alternatively, the customer must pay the fee before MGL returns the goods under Clause 7.

Cleaning Rules in the Moonstone Gold Terms and Conditions

MGL may need to clean goods during an inspection. This may particularly apply to jewellery and coins. However, cleaning may damage the goods or reduce their value. For example, cleaning may loosen stone settings in jewellery.

The customer acknowledges and accepts this risk. To the extent permitted by law, MGL accepts no liability for damage caused by necessary inspection cleaning.

Goods That Are Not Genuine

If MGL determines that goods are not genuine, it will notify the customer in writing or verbally. MGL will then return the goods under Clause 7.

Clause 3: Delivery Under the Moonstone Gold T&Cs

Delivery Methods Under the Moonstone Gold T&Cs

The customer must deliver goods to the Inspection Location. The customer may use an independent delivery service. Alternatively, the customer may use MGL Packaging where available.

When using MGL Packaging, the customer must use the supplied MGL Royal Mail Special Delivery envelope. If the customer chooses another service, MGL strongly recommends a courier or Royal Mail Special Delivery.

Packaging Rules in the Moonstone Gold Terms and Conditions

The customer must pack and secure the goods properly. The packaging must allow the goods to reach the Inspection Location in good condition.

For additional practical information, customers can read the guide on how to send gold safely by post. However, that guide does not replace these Conditions.

Delivery Documents Required by the Moonstone Gold Terms and Conditions

Each delivery must include a completed Sell to MGL Form or a suitable covering letter. The document must identify the customer and describe the type and quantity of goods. It must also include the customer’s payment details.

The delivery must include any relevant storage or handling instructions. If the customer sends goods in instalments, the delivery note must state the outstanding balance.

The customer must also state whether MGL should return any packaging materials. The customer must pay the cost of returning those materials.

Proof of Ownership

MGL may ask the customer to provide proof of ownership. For example, MGL may request a receipt or insurance valuation for the goods.

When Delivery Takes Place

When the customer uses a signed delivery service, delivery occurs when an MGL staff member signs for the goods. If the customer uses a non-signed service, the customer must prove that MGL received the goods.

When the customer uses MGL Packaging, delivery occurs when Royal Mail delivers the goods to MGL.

Insurance and Transit Risk

When the customer uses MGL Packaging with the MGL Royal Mail Special Delivery service, insurance covers up to £750 per parcel. The applicable postal and insurance terms also apply.

To the extent permitted by law, MGL accepts no liability for damage that occurs during transit to the Inspection Location. This exclusion applies regardless of the delivery method that the customer chooses.

MGL also accepts no liability for goods lost or stolen while an independent delivery service carries them. In addition, MGL accepts no liability above £750 when a customer sends higher-value goods using MGL Packaging.

Clause 4: Purchase Confirmations Under the Moonstone Gold Terms and Conditions

Issuing a Purchase Confirmation

After inspection, MGL will tell the customer whether it wishes to purchase the inspected goods. If MGL wishes to proceed, it will also state the Price.

These Conditions do not require MGL to issue a Purchase Confirmation or purchase any goods. Likewise, the customer does not have to accept a Purchase Confirmation.

If MGL issues a Purchase Confirmation, it will inform the customer in writing. If MGL initially communicates the offer orally, it will confirm the offer in writing within two Business Days.

The written confirmation will identify the goods and the offered Price. It will also include the relevant purchase order number. Each party should use that number in later correspondence.

Purchase Confirmation Acceptance Period

Each Purchase Confirmation constitutes an offer by MGL to purchase goods under these Conditions. The offer remains open for 48 hours. These Conditions refer to this period as the “Acceptance Period”.

If the customer does not accept within the Acceptance Period, MGL may issue a revised Purchase Confirmation. MGL may also amend the Price. The revised offer will remain open for another Acceptance Period.

If MGL does not issue a revised Purchase Confirmation, it will return the goods through Royal Mail Special Delivery.

Purchase Confirmation Acceptance Under the Moonstone Gold T&Cs

The customer accepts a Purchase Confirmation at the earliest of two events. The first occurs when the customer communicates written or verbal acceptance. The second occurs when the customer performs an act that clearly indicates acceptance.

When the customer accepts, a contract comes into existence between MGL and the customer. These Conditions govern that contract.

Amendment and Cancellation

Before the customer accepts, MGL may amend or cancel the Purchase Confirmation. MGL must inform the customer but will not incur liability solely because of that amendment or cancellation.

After acceptance, neither party may cancel or amend the Purchase Confirmation without the other party’s consent. MGL may resell the goods as soon as the customer accepts the Purchase Confirmation.

Declining an Offer

MGL will inform the customer if it decides not to issue a Purchase Confirmation. The customer must inform MGL if the customer declines an offer or withdraws the proposal to sell.

In either case, MGL will return the goods under Clause 7.

Clause 5: Prices Under the Moonstone Gold T&Cs

How the Moonstone Gold Terms and Conditions Determine Prices

MGL determines the Price in its absolute discretion. For relevant precious metal goods, MGL bases the Price on weight and the applicable UK rate.

MGL uses its rate for the relevant metal when it opens the parcel on the day of receipt. MGL’s equipment determines the weight. MGL’s records determine the opening time and applicable rate.

The parties agree that MGL’s determination of those matters will be conclusive. For other precious metals and base metals, MGL will assess the Price using market value.

Communicating the Price

MGL will tell the customer the Price when it issues the Purchase Confirmation. Customers may consult the general information about changes in UK gold prices. However, market information does not create or guarantee a Purchase Confirmation.

VAT and Additional Costs

Unless the parties agree otherwise, the Price excludes value added tax. Where applicable, MGL will pay VAT at the prevailing rate after receiving a valid VAT invoice.

MGL will not pay additional charges unless it agrees to them in writing. In particular, MGL will not reimburse the customer’s insurance, packaging or delivery costs.

Clause 6: Payment Under the Moonstone Gold Terms and Conditions

Payment Methods Under the Moonstone Gold T&Cs

The customer may choose payment by bank transfer, CHAPS transfer or cheque. For bank or CHAPS payments, the customer must provide the account details in writing. MGL will address a cheque to the customer.

CHAPS Payments

MGL may decline to make a CHAPS payment without providing a reason. If MGL agrees to use CHAPS, it will deduct a £30 fee from the Price.

Identification Requirements

If the Price exceeds £5,000, MGL will require identification in line with its applicable verification requirements. An individual customer must provide two forms of personal identification.

If the customer is a business, an authorised individual must provide personal identification. MGL may accept the following forms of identification:

• A recent utility bill
• A valid driving licence
• A valid passport

Payment Timing

MGL will tell the customer when it issues the Purchase Confirmation when it expects to make payment.

Payment by Instalments

MGL may choose to pay the Price in instalments. If so, the Purchase Confirmation will state the number of instalments and the relevant payment dates.

Overpayments

If MGL mistakenly pays more than the Price, the customer must refund the overpayment immediately. This obligation applies when the customer becomes aware of the error, whether MGL provides notice or not.

The customer must use the same payment method to refund the overpayment unless MGL agrees otherwise.

Set-Off

MGL may set off amounts that the customer owes against amounts payable under a Purchase Confirmation. This right does not limit any other rights or remedies available to MGL.

Clause 7: Returns Under the Moonstone Gold Terms and Conditions

When MGL May Return Goods

MGL may return goods when it concludes that they are not genuine or do not match their description. MGL may also return goods if it decides not to issue a Purchase Confirmation.

In addition, MGL may return goods when the customer declines an offer. The same applies when the customer does not respond within the Acceptance Period.

Return Costs Under the Moonstone Gold Terms and Conditions

MGL may require the customer to pay a return fee. MGL determines this fee in its sole discretion. These Conditions refer to the fee as the “Return Cost”.

The Return Cost may include insurance, packaging and delivery. MGL will calculate it by reference to the value that MGL assigns to the goods.

The customer must pay the Return Cost in full before MGL returns the goods. MGL will arrange insurance up to the value it assigns to the goods, subject to a maximum of £750 per parcel.

Storage of Goods

If the customer does not pay the Return Cost or another outstanding sum, MGL may store the goods. The customer must pay the associated storage costs.

MGL will store the goods for no longer than six months. This period starts when the relevant payment becomes due.

Uncollected Goods

If MGL still holds the goods after six months, MGL may dispose of them. MGL may also sell them to a third party. To the extent permitted by law, MGL will not incur liability solely for exercising this right.

Clause 8: Title and Risk Under the Moonstone Gold T&Cs

Risk During Delivery to MGL

When the customer uses an independent delivery service, the customer retains risk until delivery completes under Clause 3. When the customer uses MGL Packaging, the customer retains risk until MGL receives the goods from Royal Mail.

Risk When MGL Does Not Purchase the Goods

This section applies to goods that are not genuine, goods MGL declines to purchase and goods the customer declines to sell. It also applies when the Acceptance Period expires without acceptance.

Risk transfers back to the customer at the earliest of the following events:

1. The customer receives the goods.
2. Five Business Days pass after MGL states that it will not issue a Purchase Confirmation.
3. Five Business Days pass after the customer states that it will not accept the Purchase Confirmation.
4. Five Business Days pass after the Acceptance Period expires.

Insurance Under the Moonstone Gold T&Cs

While MGL carries the risk and before title transfers, MGL may maintain insurance with a reputable insurer. MGL may insure the goods up to the Price that it determines.

The insurance may cover accidental damage, fire or theft at the Inspection Location. The maximum cover is £750, subject to the insurer’s terms.

Loss or Damage During Return Delivery

If Royal Mail loses or damages goods during return delivery, MGL will submit a claim. MGL will pass to the customer any compensation that it receives.

To the extent permitted by law, MGL otherwise accepts no liability for loss or damage during return delivery.

Transfer of Ownership

Title to the goods transfers to MGL when the customer accepts the Purchase Confirmation. This includes acceptance given orally by telephone.

If MGL does not purchase the goods but retains them under Clause 7, title transfers after the six-month storage period. This provision applies when the goods remain in MGL’s possession at the end of that period.

Clause 9: Customer Warranties Under the Moonstone Gold T&Cs

Customer Warranties in the Moonstone Gold Terms and Conditions

For every item delivered to MGL, the customer warrants, represents and undertakes that:

• The customer holds full legal and beneficial title to the goods.
• The customer has the legal right and authority to sell the goods.
• The goods and their use do not infringe any third party rights.
• The goods do not infringe intellectual property, moral or proprietary rights.

Condition and Compliance

The customer also warrants that the goods will meet the following requirements on delivery and for 12 months afterwards:

• The goods will match the customer’s description.
• The goods will have no material defects in design, materials or workmanship.
• The goods will meet the applicable satisfactory quality requirements.
• The goods will comply with applicable statutory and regulatory requirements.

The reference to satisfactory quality includes the meaning given by the Sale of Goods Act 1979, as amended.

Clause 10: Liability Under the Moonstone Gold Terms and Conditions

Liability That These Conditions Do Not Exclude

Nothing in these Conditions limits or excludes MGL’s liability for death or personal injury caused by negligence. Nothing excludes liability for fraud or fraudulent misrepresentation.

These Conditions also do not exclude any other liability that the law does not allow MGL to limit or exclude.

Liability Limits in the Moonstone Gold T&Cs

Subject to the previous section, MGL’s total aggregate liability will not exceed the applicable contractual limit. This limit applies to losses arising under or in connection with these Conditions.

The limit applies whether the claim arises through contract, tort, negligence, breach of statutory duty or another legal basis.

MGL’s total liability will not exceed the Price of the goods and, in all cases, will not exceed £750. If no inspection has occurred, MGL will use the value it assigns from the customer’s pre-delivery description.

Clause 11: General Moonstone Gold T&Cs

Interpretation

Words following “including”, “in particular” or a similar expression provide examples. They do not limit the meaning of the words that precede them.

The headings make these Conditions easier to read. They do not affect the legal interpretation of any provision.

Relationship Between the Parties

These Conditions do not create a partnership, joint venture or employment relationship between the parties.

Neither party has authority to bind the other. Neither party may represent that it holds such authority. In addition, neither party may act in a way that reasonably creates that impression.

Severability and Waiver

If a provision becomes invalid, illegal or unenforceable, the parties will treat it as modified to the minimum necessary extent. The modification must make the provision valid, legal and enforceable.

If modification is impossible, the parties will treat the relevant provision as deleted. Any modification or deletion will not affect the remaining Conditions.

A party does not waive a right or remedy merely by delaying or failing to exercise it. A partial exercise does not prevent that party from exercising the right again.

In addition, the exercise of one right does not prevent the exercise of another available right or remedy.

Entire Agreement

These Conditions and any expressly referenced document constitute the entire agreement between the parties. They replace previous agreements, promises, assurances, warranties, representations and understandings concerning the goods.

Each party agrees that it has no remedy for a statement, representation, assurance or warranty outside these Conditions. This provision applies whether a party made that statement innocently or negligently.

Assignment and Transfer

MGL may assign, transfer, mortgage, charge, subcontract or otherwise deal with its rights and obligations under these Conditions. MGL does not require the customer’s consent to do so.

The customer may not assign, transfer, mortgage, charge, subcontract or declare a trust over its rights or obligations. The customer requires MGL’s prior written consent before taking any such action.

Third-Party Rights

A third party may not enforce these Conditions under the Contracts (Rights of Third Parties) Act 1999.

Variations

A variation will only affect a Purchase Confirmation if both parties record it in writing. The written document must expressly vary and supersede these Conditions.

The parties or their authorised representatives must sign the written variation.

Governing Law for the Moonstone Gold Terms and Conditions

English law governs these Conditions, each Purchase Confirmation and related disputes or claims. This includes contractual and non-contractual disputes.

The courts of England and Wales have exclusive jurisdiction over those disputes and claims. However, MGL may also bring proceedings where the customer resides or holds assets.

Guides Related to the Moonstone Gold Terms and Conditions

The following resources provide general guidance about selling and posting precious metals. However, they do not replace or modify the Moonstone Gold terms and conditions.

• Sell Gold Coins
• How to Send Gold Safely by Post
• Guide to Selling Scrap Gold and Bullion
• Understanding Changes in UK Gold Prices
• Selling Scrap Gold with Market-Based Prices

If a guide conflicts with the Moonstone Gold T&Cs, these contractual Conditions take precedence to the extent permitted by law.

Questions About the Moonstone Gold T&Cs

Contact Moonstone Gold if you have questions about delivery, inspection, payments or returns. However, Moonstone Gold cannot provide independent legal advice about these Conditions.

These Moonstone Gold terms and conditions were last updated in January 2024.