I’ve been using goldmoney.com for the better part of a year and have found it a great option to own physical gold as well as diversify your assets internationally.
Those that know me know that I am incredibly wary of keeping all of one’s wealth in one currency (the US dollar). This belief has lead me to seek out alternatives for diversifying my investments, including real estate, other currencies, and precious metals.
While I do also like buying physical bars to keep locked up, they’re not exactly easy to deal with logistically (have to pay fees to buy+ship them, then more fees when you sell them). While maybe a good thing to have for security (they could be traded in a pinch) they’re not great for long term recurrent investments due to the costs of acquiring.
With a Goldmoney account, a customer can buy physical gold (they directly own the gold in their name) and have it stored in vaults across the globe. You can buy partial ounces, or pounds if you want to on a recurring basis and have them safely stored in vaults managed by Brinks.
The gold is 100% yours and should you choose, you can take delivery of it anywhere in the world. Pretty cool.
Goldmoney also offers a Mastercard, where you can spend gold directly out of your account. I never got the card (because i still want to accumulate gold not spend it), but can see the benefit of being able to turn your gold into purchases in the real world.
The other big benefit of Goldmoney is the ability to choose your vault location. I store my gold with Goldmoney outside the US in other stable governments… just in case Remember Goldmoney is a foreign corporation so if your account size grows to over 10k you have to report it to the IRS each year. Not hard to do, but huge fines can be incurred if you forget.
Should the company have problems or go belly up, you simply go and collect your gold (take delivery). Of course there’s still a risk that this company is a giant Ponzi scheme and they don’t have enough gold holdings to go around. A risk I’m willing to take at this point, as they are backed by some reputable people and seem to run a good business.
Overall if you’re looking for international asset diversification, and a way to hedge your dollars holdings Goldmoney.com is one of the best ways I’ve found.
Disclaimer: Not an affiliate of goldmoney.com, just a satisfied customer!