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Inventing the world’s future currency

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.

The four patents

• The first patent application was filed in February 1993, and US Patent No. 5,671,364 (PDF) was awarded in September 1997. This patent provides for a system and method that enables gold or other commodities (tangible assets) to circulate through an electronic medium as currency in a book entry accounting system.
• The second patent, US Patent No. 5,983,207 (PDF), was awarded in November 1999. This patent provides for a system and method that enables gold or other commodities to circulate electronically as digital cash, whilst ensuring privacy and facilitating micro-payments.
• The third patent, US Patent No. 6,415,271 (PDF), was awarded in July 2002. This patent provides for a system and method that enables gold or other commodities to circulate electronically as digital cash over wireless networks and by means of electronic devices such as smart cards.
• The fourth patent, US Patent No. 7,143,062 (PDF), was awarded in November 2006. This patent provides for a system and method that enables gold to circulate as digital cash through a global computer network such as the Internet and/or private communication networks, much like cash currently circulates in the physical world.

Changes to payment service

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.

Independent payment system

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.