GoldMoney...still safe?

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#1 Sat, Apr 4, 2015 - 2:49am
I LOVE SANTA
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Wellington
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GoldMoney...still safe?

Hiya Stackers,

It's probably me over reacting but just wanting to check in with the forum and see if anyone has had any issue with GoldMoney.

Just been told by GoldMoney that they no longer allow metal transfers:

The facility to transfer metals between GoldMoney Holdings was suspended on the 21st January 2012 and we are therefore unable to accommodate your request. The decision by GoldMoney management to suspend this service was based on the lack of demand for the service from our customers and the increasing requirements by various regulatory bodies around the world. We are currently unable to predict whether this service will be made available again in the future.

Hmmm...ok. Thing is they didn't send an email first letting me know although to be fair I don't have the type of account that would permit this anyway so maybe they only bothered to tell Premium members. Still it makes me a little uneasy that I wasn't told (because what else haven't I been told? Is my metal still allocated, audited, and do they still allow physical pickups - I'd be really pissed if any of these changed and I wasn't told).

I'd also like to point out that atm their website still makes the claim that it allows metal transfers once I've signed in, but they seem to have removed it now from other parts of their website.

Consequently I'm now considering closing my account or at least lessening my stack because I am somewhat nervous. Would be interested in what the forum has to say. Probably I'm just a nervous Nelly x

Sun, Apr 19, 2015 - 7:43am
FJ
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There were a number of

There were a number of material changes to Trust Agreements, Assets Under Management (AUM) were to be increased under these changes. As to how these changes impede delivery, if at all, simply go to Sedar and read them.

Of note, most of these "options to ownership" are "Pools" and not one to one allocations. GoldMoney "appears" to provide Tier One (1:1) ownership, will they when the time arrives for you to assume delivery?

There is a certain peace that comes with physical in hand, your caution is warranted as these aggregated supplies of metals are quite clearly targets for seizure if the need arrives - I happen to believe it will.

If you are going to pursue ownership, why not actually own it without the promissory note in between you and your metals... Good Luck and you have cause for pause imho.

Sun, Apr 19, 2015 - 8:56pm
Zoltan
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Is it safe in the pool?

I LOVE SANTA

That news was from three years ago.

Richter has kitco's report from January posted now.

I would be more worried about being a "creditor" to that insolvency.

Z

Fri, May 22, 2015 - 7:00am
ShinyMaple
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Idstein
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experience with german high security storage

Hey everyone,

I am currently looking for a wealth storage within Germany and would like to know if any of you has experiences with the high security storage in Mannheim (Germany) described here..

https://www.goldsilbershop.de/hochsicherheitslager.html

Would be grateful for any information, thanks in advance for any answers!! :)

Thu, May 28, 2015 - 1:34am
Pete
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FWIW--@ I Love Santa

Goldmoney will still send you your metal in 100g bars I believe, made by Heraus. There is a fee for this. I don't think there is a customs issue, even into the USA. There is no import tax, as far as GM is aware, due to the form of the gold. (For silver this is not available; too costly.)

This seemed to be confirmed by my online research into import duties.

With GM's recent intent to merge with Bit(something) within the year, they intend to offer a debit card service by which you will be able to transact in goldgrams. Probably with other GM holders only? Costs not disclosed. This has been a few years in the planning, and it seems timely given the Eastern accumulation and banking alliances.

While I am cautious, I still feel to sit tight with GM, FWIW. I do have a phys holding "at hand" as well. Essentially, I trust Turk.

Mon, Aug 17, 2015 - 6:46am
Boswell
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L.ost A.rea, CA
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Update: GoldMoney/BitGold

Just noticed this thread is a little old...

From August 6, 2015

https://www.tfmetalsreport.com/podcast/7047/a2a-james-turk

​His partner was on Keiser Report https://www.rt.com/shows/keiser-report/312323-episode-max-keiser-796/

"In this final episode of the summer solutions series on the Keiser Report, Max Keiser and Stacy Herbert are joined by Alasdair Macleod of GoldMoney.com (and Bitgold.com)"

After watching the Keiser Report, I went ahead and "signed up" to check it out. Free to create an account, haven't "funded" it yet.

---

Nice referral program if you missed it...

Invite Friends to BitGold and Earn Real Gold

Send this unique address to your friends via email, text message, Facebook, Twitter, or LinkedIn. When a friend signs up using your unique web address they receive 0.25 g ($8.99) grams of Gold and you receive 0.25 g ($8.99) grams of Gold instantly!*

---

Oh, "click here!" to begin ;-) https://www.BitGold.com/r/4ZXoK2

They will send you 10g "cubes" (or you can pick up Kilo Bars) if you want to cash out for physical.

10g Cube Price: $359.64 (8/17/15)

Redemption Fee: $19.06

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