GoldMoney is a gold and silver exchange set up by James and Geoff Turk in 2001 and located in Jersey in the Channel Islands. It is backed by some big investors including IAMGOLD (one of the 10 largest Canadian gold mining companies) and Eric Sprott, Founder & Chairman of Sprott Asset Management. Other notable shareholders include Doug Casey, Chairman of Casey Research, and David Tice, Founder of the Prudent Bear Fund.
If you are thinking of buying gold via GoldMoney you will want to make sure that the company is not a scam or fraud before you invest. To help answer your questions on whether GoldMoney is safe, legitimate and reputable, we have written the following review. Having done our research, in our opinion, GoldMoney is a safe and easy direct way to own gold. Here are some of the reasons why:
When you invest with GoldMoney you are buying the actual physical gold bullion and not digital gold currency (DGC). DGC is a form of electronic money backed by gold through unallocated or allocated gold storage. Buying Gold Bullion brings you the additional benefits of buying gold at wholesale prices ie the actual cost of the metal itself. This differs from investing in coins where you often have to pay a premium above the value of the gold itself.
When you buy gold at GoldMoney you are investing in Gold Bars. If however, you dont want to buy a whole gold bar you can also invest in partial bars of gold. The smallest amount of gold you can buy is 1 gram which makes GoldMoney affordable for the majority of investors.
When you buy gold or silver with GoldMoney you own the pure metal which is stored in personally allocated storage with in either London, Hong Kong or Zurich depending on your preference. This gold is insured and audited quarterly by independent auditors. Being able to choose where your gold is stored is important for investors who are worried about the jurisdiction in which their gold is held.
You can start buying gold in amounts as low as 1 gram which is much smaller than the smallest coin. There’s no upper limit.
GoldMoney accepts the following nine currencies: Australian dollars, Canadian dollars, Swiss francs, Euro, British pounds, Hong Kong dollars, Japanese yen, New Zealand dollars and US dollars. You can buy and sell gold in any of these currencies which allows you to save the high cost of converting currency.
GoldMoney is a very low cost way of buying actual gold and presents good value for money. The buy rates vary depending on which currency you are buying in. The cheapest is US dollars. The commission rates when you are buying gold range from 2.49% for purchases with a value up to $9,999 to 0.98% for purchases with a value greater than $1,000,000. Storage fees are 0.015% monthly or 0.18% annually for holdings up to 49,999g and 0.0125% monthly or 0.15% annually for holdings of 50,000g or above. The storage fees for gold are applied to each vault where you hold the metal. Therefore, if you hold a balance of gold in both London and Zurich, the gold storage fee will be applied separately to both balances.
Access to your account:
You have access to your online account 24 hours a day, seven days a week.
GoldMoney is the registered business name of Net Transactions Limited, which is based in Jersey, British Channel Islands. Net Transactions Limited is regulated by the Jersey Financial Services Commission.
Selling Or Withdrawing Your Gold:
Owners of Full Holdings with GoldMoney can take delivery of their gold in handy units of 100 gram or one kilo bars. GoldMoney work with Baird & Co. Ltd. in London so you can convert your goldgrams® into physical gold bars for insured mailing or collection at any time.
We hope this GoldMoney review has been helpful. If you would like to open a free account with GoldMoney then please GO TO GoldMoney NOW