100% Metal ownership
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.
When you purchase precious metals through GoldMoney, the allocated gold, silver, platinum, and palladium bullion is stored securely in insured vaults
in Canada, Hong Kong, Singapore, Switzerland and the UK. Find out more about our partnerships with VIA MAT, Brink's, Rhenus 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:
- Each quarter, we publish reports from the vault operators, showing the number and weights of the gold, silver, platinum and palladium bars in each of the vaults. These reports are available in the ‘Governance’ section of your verified Holding;
- 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;
- Each quarter, we publish ISAE 3402 reports by one of the Big Four 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.
In addition, we offer a variety of bar registration and delivery options
, so that you can diversify storage and take physical possession of your metal.