In the 1990s, GoldMoney’s founders had a clear vision that gold should once again fulfill a role as money, as it had done in the past.
GoldMoney has been granted four US patents for all the research it has undertaken to enable gold to circulate as digital gold currency.
These patents acknowledge the work GoldMoney has put into advancing the 'prior art' of global payments. We have created an advanced and robust currency with many superior qualities compared to prevailing fiat currencies. The patents illustrate why GoldMoney is a currency that is ideally suited for electronic commerce.
From GoldMoney’s founding in 2001, its customers all over the world had the option of using their precious metals in payment for goods and services from other GoldMoney customers willing to accept metal as a means of payment instead of a national currency.
However, owing to both the relatively low use of this service and increasing regulatory burdens, in January 2012 GoldMoney decided to stop metal payments in all countries except Jersey, Channel Islands, where GoldMoney is registered and regulated by the Jersey Financial Services Commission.
Thus, at this time the metal payment service is only available to Jersey-based customers. We plan to reinstate metal payments for customers in other countries in the future.
For more details, see our ‘Pay With Metals’ page.
GoldMoney provides thousands of customers with an affordable, secure way to buy, store and sell precious metals. In addition, we have modernised gold and silver’s usefulness as currency by enabling our customers in Jersey, Channel Islands to make and receive metal payments. We plan to enable metal payments for customers in other countries in the future. Through our patented currency, GoldMoney goldgrams® (1 goldgram = 1 gram of gold), you can make gold and other metal payments to other customers electronically.
Although you can send and receive funds to and from your Holding via traditional financial institutions, such as banks and brokerage companies, GoldMoney’s currency is not dependent upon the network of these institutions. This makes the GoldMoney payment system an ideal alternative to the banking system.