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100% Gold & Silver Ownership	BOOKMARK & SHARE Tweet      Email this page Print

100% Metal ownership

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You are the absolute owner of your gold, silver, platinum, and palladium

When you purchase precious metals through your GoldMoney Holding, you actually hold and own the metal in your name. GoldMoney is not a 'paper metal' product, which means that your metal ownership is not dependent upon the ability of, for example, an exchange traded fund (ETF) to obtain and redeem metal for you when you want to sell it.

Nearly all of these types of 'paper metal' programmes work on a fractional reserve basis, which means that if the majority of the programme's customers wanted to redeem their metal for cash at once, then the programme operator would not be able to meet all of its obligations. In other words, 'paper metal' products merely represent a promise to pay metal. They are not products that give you direct ownership of metal, and therefore expose you to counterparty risk, since you are dependent upon the programme issuer's ability to meet all of its obligations.

Contrary to the fractional reserve nature of 'paper metal' programmes, the quantity of allocated customer metal recorded in GoldMoney's database is always equal to the quantity of metal stored in the vaults. This one-to-one ratio is always maintained and forms a critical part of GoldMoney's governance model. Your precious metals are not recorded on GoldMoney’s balance sheet, which means that GoldMoney does not have any direct claim on the metals. We simply safeguard them on your behalf.

PRODUCT	OWNERSHIP RIGHTS	PROTECTION AGAINST COUNTERPARTY RISKS	100% METAL
GoldMoney stored precious metals	You	Yes	Always
Precious metals ETFs	ETF issuer	No	?
Unallocated certificate programs	Certificate issuer	No	?
Pooling accounts	Account issuer	No	?

When you purchase precious metals through GoldMoney, the allocated gold, silver, platinum, and palladium bullion is stored securely in VIA MAT vaults in London, Zurich and Hong Kong and a G4S vault in Hong Kong. Your precious metals are insured against theft from the vault. VIA MAT International is part of Mat Securitas Express AG, of Switzerland, one of Europe's largest and oldest armoured transport and storage companies. G4S is a leading international security group listed on the London Stock Exchange (LSE). Find out more about our partnership with VIA MAT and G4S.

Ensuring your ownership through regular independent audits

At GoldMoney, the one-to-one ratio of physical metal in the vault with the metal recorded in our database is always maintained. To ensure this we have implemented three independent third party reports and audits:

1. Each quarter, we publish reports from the vault operators, VIA MAT and G4S, that show the number and weights of the gold, silver, platinum and palladium bars in each of the vaults;
2. Each quarter, we publish reports by Inspectorate, an independent third party company that counts all the bars and sample weighs them, thus verifying the accuracy of the vault reports;
3. Each quarter, we publish ISAE 3402 reports by one of the Big 4 accounting firms that confirm that the amount of metal in the vaults is equal to the metal recorded in our database, thereby ensuring their one-to-one ratio and our customer's ownership of the metal. These reports are available to GoldMoney customers when they log into their verified Holding. Additionally, the auditor also reviews and reports on other important areas such as governance practices, order processing, operational procedures and IT security. We are pleased to note that there have been no exceptions reported by the auditor since we began the SAS 70 reviews in 2006 and since we implemented the new and more rigorous international standard ISAE 3402 in 2011.

At the end of each month, we also post a monthly report on our website that states the total amount of precious metals and the value of our customers’ assets.

The GoldMoney Standard – we ensure your metals are safe

Frequent third party reports and audits, state-of-the-art control measures and gold bar testing are all part of the GoldMoney Standard - the best way to ensure your metals are safe.