Goldmoney Questions

[Glelas]

Do you actually own gold when you buy gold through them?

Is there gold in one of the vaults in Switzerland or London with your name on it?

From what I have gathered, your investment is quite liquid, is this true?

If you decide you want the gold in your possession, will it be bars? bullion? etc...

Anyone have any good or bad experiences with goldmoney?

[gonegolfin]

Do you actually own gold when you buy gold through them?

Yes.



Is there gold in one of the vaults in Switzerland or London with your name on it?

No, it is pooled storage ... but it is pooled allocated storage. Quarterly audits are performed (and available) with the listed serial numbers.



From what I have gathered, your investment is quite liquid, is this true?

Sure. You simply sell at the bid spot price of Gold (or Silver) and can transfer the funds to your domestic bank account. You can also take delivery of a bar, provided you own enough to constitute an LBMA good delivery bar.




If you decide you want the gold in your possession, will it be bars? bullion? etc...

See above. But if this is your intent, there are better ways to accomplish this.



Anyone have any good or bad experiences with goldmoney?
All good. I have owned Gold with them going on six years ... Silver a couple of years later.

Brian

[Glelas]

Thanks...

So if TSHTF in the US, and Myself and my family get the hell out of here I won't be able to redeem actual gold but I can "get my gold" in whatever currency I want?

Am I understanding that correctly?

[Bruehound]

Is there a directory of merchants who accept goldgrams as payment?

[DFF]

Anyone have any good or bad experiences with goldmoney?

Yes. I have done business with GoldMoney since 2008. They are a first class operation in every aspect. Highly recommended.

[EddieG]

You are required (by the usual scoundrels at the IRS) to fill out a yearly FBAR form if you have external gold storage like this, or Perth Mint. Just FYI.

[Glelas]

Can you cash out in a different currency than the one you bought the gold in?

[dmanson]

I have also been recommended to them by someone who holds a substantial amount of money there, so if I'm going to do it, I'm going to do it through them.

Question though, they appear to only allow you to hold precious metals as an individual, not a corporation or trust. I'd think there would be some way around that but maybe not. Does anyone know if I buy gold there now and say in 10 or 15 years, go to take it out, providing I don't live in the USA, will I still be paying capital gains tax on it?

I'm considering liquidating my retirement in order to do this. I'm only 35 but I have been putting in for a long time and have almost 6 figures between myself and my wife. Everyone thinks I'm crazy except for people on this forum and "in the know" but before I jump in, I want to make sure i understand all the tax implications. I know that I will be paying a 10% penalty, plus claiming the entire amount on my tax return, but I still think it's worth it for safety.

Anyone here have any suggestions on these points? Thx

[Glelas]

I have a 401k in the six figures, and I was thinking of doing the same.

[Mike4Freedom]

I have a 401k in the six figures, and I was thinking of doing the same.

I would go for it. They government in the near future if not already will be able to make 401k's and ira's invext in treasury bonds.

[Glelas]

Does gold money have a custodial account option? I would like to put some money in gold for my kids.

Would the Perth Mint be better for this?