GoldMoney is a leading provider of precious metals investing. Private investors can buy and sell gold, silver, platinum and palladium bullion through GoldMoney. The precious metals are stored on behalf of the investors by independent vault operators. Investors acquire outright ownership of their precious metals and have a delivery option. The precious metals holdings are regularly inspected and audited, the respective reports are published.
GoldMoney was founded in 2001. GoldMoney offers private clients and companies the possibility to buy gold and other precious metals and to store them on behalf of their clients. In addition to buying and selling gold, GoldMoney’s customers can also transfer gold to other customers, i.e. pay with gold (since end of 2011 this option is only available in Jersey, British Channel Islands, due to regulatory issues in other countries).
Investors have outright ownership of the gold, which they bought through GoldMoney. They can choose between four different vault locations: Zurich (Switzerland) and Zurich Airport, London (United Kingdom), Hong Kong, Singapore and Toronto. Customers can also choose storage in multiple vaults in order to diversify gold holdings across several jurisdictions.
Clients of Gold Money can place their orders over the Internet or request a call back from an operator by telephone.
Investors, who buy gold through GoldMoney, normally acquire grams of 400 ounces good delivery standard gold bars as defined by the London Bullion Market Association (LBMA). The LBMA is the London-based trade association which represents the wholesale, over-the-counter market for gold and silver in London, the largest market of its kind in the world. It sets the specifications for ‘good delivery’ gold bars. Investors can also purchase and store 1kg or 100g gold bars with GoldMoney, this is also offered with storage by LOOMIS in Zurich.
One of the investors backing Gold Money is Iamgold Corp., a leading, publicly listed mining company based in Canada.