How can we help?
Please read the following Q&A and try to find the answer to your question. If you cannot find the appropriate answer to your question, send us the question and we will do our best to answer it as soon as possible.
About Us
Who are we? How long have we been around? How many employees do we have?
iGold is one of the few Israeli companies to import all types of precious metals. We were founded in Jerusalem in 2012. We have operated from Eilat since 2015.
The company has four employees: Josh Feldman, Aryeh Bar-Eitan, Hanna Bar-Eitan, Nechama Shurin and Chava Saposh.
What makes iGold unique?
iGold is the only company in Israel selling Gold and Silver for investment VAT-free. We are the only company in Israel operating from Eilat. The free-trade zone in Eilat allows our customers to invest in gold and silver with no obligation to pay VAT. IGOLD is one of only a few companies in Israel holding signed sales contracts of gold with international suppliers.
About Investing in Gold in Israel
Why should I invest in physical gold?
There are three good reasons to invest in gold: 1) Gold is a limited resource. For thousands of years, it was used as a treasure that kept its value. The value of gold rises steadily, making it a safe and stable investment. 2) Gold provides insurance against inflation and high volatility in the financial markets in times of economic uncertainty. 3) In the last year, investors in virtual currencies suffered a severe blow. Meanwhile, the demand for gold surged. This is because gold is considered a safe and stable investment.
Who owns customers' gold in your vault?
iGold only provides storage services to our clients. Your gold does not form part of our inventory or assets. We deposit your products in your name inside our treasury room and you retain full ownership of your own gold. Products are fully allocated and segregated inside our vault. Under bankruptcy, iGold has no ownership claim over our customers’ gold.
What is the definition of "investor in precious metals in Israel"?
An “investor in precious metals in Israel” is a person who purchases gold and silver for investment purposes to secure his/her capital. This investor is not a business or a “limited company” for profit.
What is the definition of "precious metals for investment"?
Gold and silver for investment are precious metals that are stored for at least three months in Eilat.
Products must take one of two forms:
1. Gold and silver coins issued by a central bank as legal tender; or
2. Gold bars minted by a private refinery that are at a purity level of 99.9% or higher.
Is there an obligation to report ownership of precious metals in Israel?
No regulation or law requires customers to inform the Israeli Tax Authorities of their purchase and ownership. This is the same as in the US provided products are not held in a financial institution.
If you own a company or a business in Israel, the Tax Authorities will occasionally ask for a Capital Declaration and in that case you are required to declare your holdings in full.
I purchased gold abroad. Can I transfer the gold to Israel through IGOLD VAT-free?
No. VAT laws in Israel do not allow gold purchased abroad to be transferred VAT free to Israel.
The only option would be to sell your holdings abroad and buy new precious metals through iGold. Through iGold your purchase will be VAT free.
About the Purchasing Process
Could the order be changed?
Unfortunately, it is not possible to change the order once it has been placed. We have to make special imports from suppliers abroad and once the price is locked-in, the order cannot be changed. However, you can ask to sell the products when the order arrives.
Are the prices listed on the website final?
The prices shown on the website are not final and may change according to the gold price on the commodity exchange and the dollar rate. Please contact us to receive an accurate quote or to schedule an introductory meeting.
What is the minimum investment?
A minimum order size through iGold starts at 4oz of gold.
Methods of payment
We accept only bank transfer. But this can be from a bank account in Israel or from a foreign account.
You can pay in cash equal to 10% of the transaction value, up to a maximum of NIS6,000.
About Confidence and Reliability
What is the source of your gold? How can I be sure that the gold you sell me is pure, and that the quality and purity level of the precious metals are high?
iGold is the distributor of PAMP Suisse and StoneX in Israel. All our products are sourced from these two suppliers. Bullion coins are produced by their respective governments and bars come from our Swiss gold producer with over 100 years’ experience and reputation. All customers who come to our safe room to pick up their orders are invited to have their precious metal checked by our technology.
How do you guarantee that no damage will be caused to the precious metals?
All our import shipments are insured for 100% of the metal’s value.
Customers’ purchases are insured by Lloyds of London in the event of something unexpected happening en-route to Eilat. Our gold fully insured until arrival in our treasury room in Eilat.
Why should you trust us? Why should you believe in us?
We have been operating in the field of precious metals since 2012. We have thousands of customers who bought gold and silver through us for more than NIS100 million. We work with a leading law firm whose attorneys have written the engagement contract. Each customer will receive a promissory note against our company. We are one of the few companies insured by the international insurance company LLOYD’S having met their strict requirements. We passed their background checks and have also been approved by financial institutions we worked with for over a decade. Additionally, we have the technology to test every product we sell for purity, and our customers are free to be involved in this process. The results of these tests are freely available. For more than a decade we have led the field of investing in precious metals in Israel, and we plan not only to continue, but to expand Internationally.
What is my risk if iGold goes bankrupt?
If iGold goes bankrupt, our customers products will remain safe and unaffected. From the date of purchase, your gold is stored in your name only, not as iGold’s inventory and does not appear on our balance sheet.
We are here for you!
Always available for you for any questions or concerns, we are happy to help and guide you.
