GoldMoney | Gold & Silver Vlog

GoldMoney

GoldMoney enables you to specify ownership and take delivery of gold bars at any time.

GoldMoney Bars
GoldMoney allows its customers to redeem and take physical delivery of their gold in handy units of 100 gram or one kilo (1,000 gram) gold bars. Through our partnership with Baird & Co. Limited in London, England, a major refiner in the UK, conversion of goldgrams into physical gold bars for insured mailing or collection may be completed at any time.

As of 7 May 2009, GoldMoney 100 gram and kilo bars are only available to GoldMoney customers resident in the United Kingdom. We expect to make these bars available to all of our customers in June 2009 after the initial trial launch has been completed.

To convert your goldgrams into one or more GoldMoney bars, log into your Holding and select “Redeem Gold > GoldMoney Bars”. Then choose the quantity of bars you would like to receive and specify whether you want them shipped to you by insured mail or if you will collect the bars at Baird & Co’s premises in London. Your order will then be processed within one business day, and you can track the status of your order directly within your Holding.

The fee for redeeming a kilo bar is 2.75% of its fine weight, which means you can convert your goldgrams into a 1,000 gram bar at a cost of 1,027.500gg. Redeeming goldgrams into a 100 gram bar costs 4%, which is 104gg for a 100 gram bar.

Some of our customers may want to have a 400oz gold bar held in their name. To learn more about our registered 400oz bar program, read below.

Registered 400oz Gold Bars
When you hold goldgrams in GoldMoney, there always exists a one-to-one ratio of goldgrams to physical grams of gold held in allocated storage at the vaults, although your ownership of goldgrams is not directly related to a specific bar of gold. If you hold approximately 400 ounces (12,441 goldgrams) or more of gold, our Registered 400oz Gold Bars facility enables you to register your ownership of one or more of the gold bars stored at the vaults.

When you log into your Holding and select “Redeem Gold > Register 400oz Bars”, you can choose the bars you would like registered to you. These bars are then associated with the unique Registration ID created by you and displayed publicly on the GoldMoney Gold Bar Lists.

The fee for registering a 400oz gold bar is only 1 goldgram (about US$30.87). There is no fee when you de-register a bar, and no additional storage fees are charged during the time you hold a registered bar.

Once a bar is registered to you, you may arrange to take delivery of it at any time. Whether you transfer it to another vault or choose to store it at your home, GoldMoney can arrange delivery of the bar to the location of your choice.