31 July 2006 - GoldMoney today announced that Sprott Asset Management Inc. has increased to 9.9% its stake in leading internet-based gold marketing company, GoldMoney.com.
GoldMoney is an online service that enables investors and consumers to purchase gold and silver and use their gold as digital currency. It has also become a convenient way to save money using precious metals. All gold and silver is stored in a specialised bullion vault near London, England, and is insured through a policy underwritten at Lloyd's of London.
Eric Sprott, CEO of Sprott Asset Management said: 'We have been a shareholder of GoldMoney since 2003 and have been very pleased by GoldMoney's development. Its online platform is proving to be a better way to buy gold and silver. Importantly, strong growth has been achieved with sound business practices, and we value the company's vision to re-establish gold's role as a global currency.'
He added: 'We are pleased to increase our stake, and we look forward to continued growth and expansion of GoldMoney's activities in the future.'
GoldMoney has been enjoying record growth. Over US$136 million worth of gold and silver is in circulation as of 30 June 2006, up from $52 million one year earlier.
'We have achieved our growth because we remain focused on our customers' demands for precious metals,' said James Turk, founder of GoldMoney. 'Investors accumulate gold and silver using GoldMoney because it is convenient and economic. Also, our clients know their precious metals are safe because of our industry-leading governance procedures and practices.'
The GoldMoney website offers gold and silver buy and sell rates in four currencies - US dollar, Canadian dollar, Euro and British pound.
To purchase gold or silver, customers simply log into their GoldMoney account through the secure online link and choose the amount of metal they wish to purchase and the currency to pay for their purchase. Purchases using US dollars can be automatically deducted from a customer's bank account with a convenient electronic check feature.
In addition, if they want to sell their gold and silver, customers receive the current spot rate for any of the four national currencies that is provided 24/7 on the GoldMoney website. The proceeds from the sale will be in their bank account the next day. GoldMoney is also proving to be a very convenient way to switch between gold and silver.
GoldMoney, the inventor of digital gold currency, is combining 21st century technology with the world's oldest money - gold - to make the online purchase of gold and silver safe, convenient and economical. Not only is GoldMoney the fastest growing digital gold currency, it is also the largest. Its regular audits and governance procedures have set the industry standard. These advantages have made GoldMoney a world leader in the buying and selling of gold and silver bullion.
Anyone can use GoldMoney to build their savings and secure their wealth by owning pure gold and silver that is insured and stored safely and conveniently for them in a specialised bullion vault near London, England.
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