Money Works s.r.o.
Palace Archa Business Center
(across from arcade Bila Labut)
Na Porici 26, entrance C
110 00 Prague 1
Hotline: +420 777 796 148
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Price fixing
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Cash purchase & sale
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Prior appointment only
Our office is here:
Mapy.cz
Frequently Asked Questions
Q: Who is Money Works Ltd.?
A: Money Works Ltd. specializes in the purchase and sale of precious metals - investment gold and silver; we are registered in the Czech Republic. In 2009, our Czech-Canadian management witnessed an increased client demand for gold and silver investments. Hence, we employed our international experience and connections and started importing to the Czech and Slovak Republics precious metals issued by certified mint companies and refineries.
Q: Are Gold and Silver Bullion or Coins Subject to VAT?
A: We sell investment gold in such fineness and quality so it is not subject to VAT (in the Czech Republic as per Act No. 235 / 2004 Coll.). Silver is subject to 20% VAT. You will receive a tax receipt for every purchase.
Q: What type of gold and silver bullion and coins are available?
A: We sell investment gold and silver bullion and investment coins of top quality from refineries whose products (fineness, weight, and quality) are guaranteed by the issuing state.
Q: Is investment gold and silver certified?
A: Investment gold bullion Argor Heraeus SA up to a certain size is laminated in plastic with Id. and certificate. The fineness of gold and silver investment coins is guaranteed by the issuing state; hence, investment coins are not accompanied by any certificate. This custom is standard in this branch.
Q: Where can I obtain certification of investment coins I invest in?
A: To support your confidence in the investment, we can arrange official certification from a court expert who specializes in the study of coins. Arrangement of this service is subject to you having paid for your investment plus the costs of certification. The cost of certification depends on the scope of assessment.
Q: How do I make payment?
A: You receive a preliminary confirmation e-mail after placing an order. We then verify your order via telephone, i.e. confirmation of order. Subsequently, you receive a Credit Invoice via e-mail together with bank account details, amount to be paid, and other details. Payment can be made either by bank transfer or by cash deposit with the bank teller.
Q: When is payment due?
A: As soon as possible! Because of a constant movement of gold and silver market prices, it is paramount that you pay for your investment immediately. If payment is not received right away, market prices can change considerably, and we then can not keep the previous price fixing – if payment takes long, market prices may rise above the level fixed before your bank transfer or cash deposit.
Q: How do I know that my investment is paid for?
A: We inform you immediately via e-mail upon receipt of full payment to our bank account.
Q: When will I receive my bullion and investment coins?
A: Because we allow our prices to stay competitive, our merchandise is imported. If we held stock, we could not respond immediately to changes in price or supply-demand. Our goods are usually shipped within 7-10 working days after receiving full payment for your investment to our bank account.
Q: How is my investment transported?
A: As a fully insured shipment (insured letter or package). The shipment is delivered to you in person; your signature and proof of Id. are required. Goods are insured to full value and packaged in a security envelope “Amersafe”.
Q: Are precious metals covered by a money back guarantee, like consumer goods?
A: Unfortunately no! Investment into precious metals is unlike purchasing consumer goods as per Act No. 40/1964 (see below). Therefore, we are unable to extend a money back guarantee. Hence, we suggest that you seriously consider your motivation and commit to your decision before you start investing your money.
In accordance with the laws of the Czech Republic, specifically Act No. 40/1964 Coll. (Civil Code), Section 8, § 53:
"Except in cases when a money back guarantee is expressly agreed upon, a consumer can not cancel contracts pertaining to the delivery of goods or services whose prices are influenced by fluctuations of financial markets beyond the control of the suppliers."
Q: Should I read the Terms & Conditions before placing an order?
A: Yes, always. They protect you and us from a hasty investment decision. Terms & Conditions, as amended, can be found here.
Q: How will I receive my investment goods?
A: First, you receive an e-mail notification that your investment goods have been shipped to the delivery address indicated by you. The shipment is fully insured (insured letter or package) and is transported by the Czech post. The shipment is delivered to you in person; your signature and proof of Id. are required.
Q: Should I inspect my investment goods upon delivery?
A: Yes, it is in your interest to assure good delivery. Nevertheless, your goods are inspected, carefully weighted, packaged, insured, and there should be no reason to worry.
