Goldmoney Review


Investing is a dangerous industry, especially in today’s day and age. Many investors are on edge regarding the reliability of the stock market after having witnessed many market collapses. The value of precious metals has been on the rise recently. The value of precious metals like gold and silver is likely to rise when stock prices fall.

Goldmoney is one of many investing organizations that acts as a conduit between buyers and sellers of precious metals like gold and silver. What do they offer? What are some pros and cons to using them and are they even legit? All these and more will be considered in this review.

What is Goldmoney?

The initial iteration of the firm was established in 2001, and it has been running successfully ever since. They present possibilities for speculative investments in precious metals.

As of 2015, the business had integrated with BitGold. This is a technology payment that, in a manner analogous to that of other currencies, serves to facilitate payments in gold.

Joshua Crumb and Roy Sebag are credited with having established BitGold. The mission of the company is to introduce investors to precious metals that are ideally suited to meet the requirements they have for their investments. In addition, some services are designed to assist you with diversifying your holdings and expanding them over time.

How Does it Work?

The company’s structure is organized differently than the majority of its rivals now operating in the market. The Holding structure gives it a competitive advantage over those offered by other companies in the industry. People who are new to the process of investing and do not have a solid financial background may find that this technique is an interesting option.

To open a holding account, you don’t need to have a lot of previous experience in the financial world. You may easily learn what you need to know as long as you pay attention to what you are doing.

In addition, you have access to tools that will assist you in the process of transferring metals between companies and individuals. Even the coordination of the movement of metals across international entities can be accomplished with the use of these tools.

Investing in any of the four precious metals available on the market today is possible if you have a holding account.

There is a minimum investment requirement of one gram of gold, which must be purchased. Additionally, the organization can serve as a storage facility for your precious metals. You have a choice between seven international vaults that are located in the following places:

The company has indicated that they plan to increase the number of storage alternatives that they provide in the next few years. There are also storage solutions available for self-directed individual retirement funds (IRAs), which are subject to more stringent regulations imposed by the IRS.

Goldmoney Kids is the name of the program that this company offers to young people to educate them about financial matters. This is the best situation to put your children in if you want to teach them about economics and help them plan for their future. Kids will remain interested since the information is delivered in ways that are fascinating and engaging for them.

Additionally, the website is really simple to navigate. It includes up-to-the-minute updates on the stock market as well as the cost of other precious metals and contains a plethora of information about the economy. Simply taking a glance at the updates on the website will provide you with a concise summary of the current condition of the global economy.

Signing Up

Gold money is characterized by a high degree of complexity. Users, on the other hand, won’t have a hard time finding their way through the website or investigating the various possibilities available to them.

You need to have a Holding account in place before you can create any further accounts. That requires you to commit to keeping a gram of gold in your possession. After you have completed those steps, you will be able to add funds to your account and buy any precious metals that you like.

The Goods and Services Available

Goldmoney makes use of an investment strategy that is both easy to understand and highly effective. Because of its all-encompassing Holding system, investors can navigate their way around the platform with ease and accurately plot their investment course.  

The Goldmoney Holding system has been developed specifically to guide investors in the investment of precious metals as well as in the safeguarding of their wealth. Customers have considerably more convenience when it comes to buying, selling, or holding/vaulting precious metals online thanks to this platform.  

When you become a member of Goldmoney Holding, you are allowed to make investments in a variety of precious metals, including gold, silver, platinum, and palladium. All of your precious metals that are managed by the Holding system are kept in secure vaults throughout many countries and are covered by comprehensive insurance.

Goldmoney, in addition to providing storage, conducts routine audits of all of your metal holdings and makes the findings of those audits available within the Holding system. You also have access to investing opportunities through IRAs, SIPPs, and TFSAs.  

If you choose to conduct business in a manner that is not online, Goldmoney gives you the option of taking physical ownership of precious metal bullion bars and coins at one of several vaults across the country. You also have the option of having them transported directly to you at your address.

Additionally, the company offers a variety of individualized pension options so that your capital can be preserved over the long term.  

When you have a holding account with Goldmoney, you will be provided with a dedicated Relationship Manager with whom you will be able to communicate easily and efficiently through your online Holding Dashboard.

This is done to improve customer service and to make the process of investing as streamlined as it can be for you.  

Goldmoney allows for a great deal of freedom in investments by providing holdings for individuals, joint owners, businesses, and trusts.

You can keep a close eye on your assets thanks to their user-friendly website, which provides you with up-to-date information on the most recent happenings in the market as well as changes in stock prices.

Advantages of Using GoldMoney

Although we do not consider ourselves to be major supporters of GoldMoney (due to the reasons that will be discussed a little bit later on in this article), there are a few things that we like about them. These are the following:

Openness and Candor

It is unusual to find a precious metals firm that is as open and honest as this one. The majority of dodgy businesses opt to conceal some information in the hopes that they may spring it on you at a later stage in the transaction; however, this company does not operate that way.

GoldMoney is completely transparent about everything, including its costs for buying and selling, storing, and other services.

You won’t feel pressured or like you’re being taken advantage of because you’ll be able to do the arithmetic and decide for yourself at each stage of the process.

Simple to Utilize

Everything is made easier for you, from creating your Holding account and funding it to buying gold with your Holding account, and everything in between. In addition, they provide videos that you can easily return to in case you find that you are having difficulty at any point in the process.

It took us no more than a quarter of an hour to set up an account and upload the necessary verification documents. Therefore, carrying it out won’t put too much strain on you.

Support for both PayPal and Cryptocurrency

When you choose to work with GoldMoney, you automatically receive access to some of the best benefits, and this is certainly one of them. You need to understand that the majority of businesses that restrict you to Bank Wire transactions will also frequently restrict your choice of currencies, which can further muddle things for you. And although this is also the case with GoldMoney, they make up for it by giving you a million different options for filling out your account.

It is impossible to refute the level of adaptability that this platform provides, which ranges from the tried-and-true PayPal to the cutting-edge cryptocurrency of today.

They are Safety Conscious

When it comes to the protection of its customers, GoldMoney does not take any shortcuts. If you aren’t used to being subjected to this level of scrutiny, it may feel like too much information is being requested from you, although it is done for your protection and is intended to keep others from impersonating you.

Because we appreciate this level of thoroughness, we believe it to be one of the genuine advantages of choosing to place your hard-earned money in the hands of this organization.

Assistance with Gold IRAs

Would you consider making some of your retirement money go into precious metals as an investment? You could also consider rolling over your 401(k) into an individual retirement account (IRA) for precious metals. You can make use of GoldMoney’s tailor-made solution, which is available to you.

Unfortunately, in contrast to Goldco, which takes care of all of your IRA concerns on its own, GoldMoney outsources this work to a third-party firm known as Entrust.

Reputable individual retirement account (IRA) business Entrust reportedly began working with GoldMoney in 2009 as a strategic partner.

The Drawbacks of Using GoldMoney

Although it appears to us that this is a legitimate business that gets the majority of things right, there are a few issues that we have regarding it. 

The high cost of both metal and storage space

When dealing with greedy but well-established brands, this is one of the most significant challenges you will face. GoldMoney can command a higher price for its services because of the widespread use of its cryptocurrency. Imagine this: they will charge you a commission regardless of whether you are buying or selling the property! Additionally, they will charge you a fee to store your gold with them.

Additionally, all of their fees are calculated on a percentage basis. They do not have any predetermined fees. This indicates that the more willing you are to entrust them with your money, the more eager they will be to consume it.

People who have large accounts benefit the most from fixed costs, but small-time investors appear to benefit most from percentages.

Therefore, if you are considering an investment of more than $5,000, we recommend that you search elsewhere for opportunities.

Lack of Selling Flexibility

So, what happens after you have waited a while before withdrawing your deposits? At some point in time, you will inevitably wish to liquidate the value of your precious metals by selling them. And now we come to the part of the GoldMoney story where things start to become a little more difficult.

They will ask for your identification documents again, even though you already submitted them when you signed up for the service, and they will keep you waiting for approval in the meantime. This could take several weeks at times.

This frequently results in you missing out on market opportunities that you had intended to benefit from in the beginning. 

Critical Comments

They say the best way to judge anything is to try it for yourself. And if that sentence is any indication, it looks like things are not going well for GoldMoney over there. They have an astonishingly poor rating on Trustpilot (2 stars after more than 1,000 reviews), and their Better Business Bureau profile features a lengthy list of customer complaints.


GoldMoney is an honest business, but it has a reputation for receiving conflicting customer feedback. They have put in a lot of effort to establish a robust online system that makes things a lot simpler for everybody. This is readily apparent. However, they need to improve both their pricing structure and their offboarding procedure.

Because of the extensive number of customer complaints received by this company, we are hesitant to suggest that our readers use it. Instead, we recommend going with a company such as Goldco since, in our experience, they are significantly more adaptable, versatile, and welcoming.

Goldco is open and honest, and they even provide you with the option to ship your coins to the storage facility of your choice, so you have complete control over where they are kept. Their onboarding and offboarding procedures are described as being uncomplicated.

So you have decided to buy silver online.

Great choice. Let’s talk about silver.

Silver is exceptionally popular today. Part of the reason for this is the belief that it’s potential for upside value increase is even greater than the same belief in gold. In fact, there is a very good book on this subject entitled: “ Why Silver Will Outperform Gold by 400% in the coming years”. It’s a very scholarly book and quite convincing. Give it a read if you have the time.

Silver Bullion Prices

Mind you, one need not look as far as that book to find evidence of the common belief that silver has great potential for growth in the near future. All one has to do is go to the web or even Youtube and there are advocates of this thought at every turn.

At Durham Precious Metals we believe that silver is an easy choice because it gives a sense of substance due to its lower cost per ounce than gold.

Silver Bullion

Probably 90% of our business is silver sales so this sentiment is fairly unanimous throughout the public. 10oz bars seem to be the most popular. Generic rounds and Silver Maples seem to be the next most popular and 1oz bars a close 4th place. It is our opinion that 10 oz bars and 1oz rounds are your best value as their premium over spot is very reasonable. However, there is no wrong choice when it comes to our silver product line because we try to concentrate on product lines with low premiums anyway.

Silver has always been a form of money. There are those that will argue that silver has been demonetized but we beg to differ. All one has to do is refer to the (CCRA) definition for 999 bullion. It is deemed by Rev Can to be a “ financial instrument”. Enough said on that subject!

Best Place to Buy Silver

From a utility standpoint, silver has somewhere in the neighbourhood of 60,000 industrial uses including painting the backs of mirrors to create the reflective surface to collecting radiation in solar panels. If nothing else, the lack of an above ground supply of silver ( which is relatively new historically) will keep the demand for this metal strong since for most applications there is no viable substitute.

Buy Silver Online Free Shipping

Can you imagine the mayhem that would ensue if all the major electronic manufacturers came grinding to a halt due to a silver shortage? It would be catastrophic to the economy. We believe that this fact alone will be a major driver of support for the silver price when the powers that be run out of tricks in their attempt to suppress the price of silver. And yes, we agree that this practice goes on in plain sight and that the regulators turn a blind eye. Let’s hope justice prevails and that the historic silver/gold ratio returns to its traditional level.

Buy Silver Online 

In the meantime…keep stacking!

So you have decided to buy gold online.

Great choice! Let’s talk about gold then, shall we?

Gold is, and always has been, a favorite of collectors of precious metals. Its 6000-year history of sustaining wealth is unprecedented. The yellow metal has launched wars, bought fortunes and has been a form of money throughout that history. It is one of the densest metals and also one of the densest elements on the periodic table. It weighs in at a density of 19.32 grams per cubic centimeter. Water, by contrast, has a density of 1 gram per cubic centimeter.

Buy Gold Online

Platinum is the densest of the common 4 precious metals at 21.45 grams per cubic centimeter.

People will often ask when gold is the right choice to buy as opposed to other metals such as silver. This is a very common question. There is no easy answer that anyone can give to someone so we always boil it down to practical applications.

Gold Bullion

Consider how much of an investment you are planning to make over-all throughout the course of your precious metals buying.  If you are planning on purchasing, for example, $10,000 worth of metals and then cap your spending then it really doesn’t matter which metals you buy. The volume of the purchase will be relatively small in terms of weight and size. Our main concern and Durham Precious Metals comes down to simple things like , cost of storage, cost of shipping and bulk. We are always trying to help our customers have the best experience as metals collectors.

Buy Gold Near Me

For example, if you were to tell us that you are considering selling a piece of real estate and use the proceeds to buy metals then gold would be our suggestion. The reason comes down to volume and weight at this point. Several hundred thousand dollars of silver would be an incredible amount of bulk at this spend level. Hundreds of pounds of silver would be hard to store practically and would be more expensive to store as well. If you are the DIY type it would also be harder to hide than a comparable dollar amount of gold.

Keep in mind that at the time of this writing gold is about 75 times more expensive in dollar terms as the same weight of silver. That equates to 75 times less bulk per dollar spend. This will make it much easier to hide or store if you are looking at large purchase amounts.

Price of Gold?

If you are only considering a small total purchase amount either of the metals is perfectly fine. The one consideration we always emphasize for small purchase amounts really comes down to personal perception. Here is what we mean. Silver is 75 times more bulky per dollar spend. Obviously, it is going to feel a lot more substantial if you buy $5000 worth of silver and have several hundred ounces to admire than only about 3 ounces. It’s a perception thing at this point but perception matters to people since perception can make us feel a particular way about what we spend our money on.

In closing, gold and silver are both great choices and neither is wrong in terms of their value of utility. They have both had a long history as a store of wealth and that isn’t likely to change any time soon.

Buy both with confidence. Buy Gold Online

We often carry pieces that we don’t list on site so feel free to call us for an up-to-date list.

About DPM

When you consider silver value and gold value, the wise choice is to stock up today. At Durham Precious Metals we make it easy and convenient to buy silver and buy gold online.

For those who are serious about investing in gold and silver bullion, DPM is your one-stop store to buy gold and buy silver, whether it be through our website or our retail store.

Many people want to know where to buy gold and do not realize they can avoid the traffic hassle of driving into the city and visit us at DPM located in Oshawa, Ontario. See our Retail Store page for directions. Our customers are delighted with our competitive silver price. We carry mint direct silver bars, silver coins, gold bars and gold coins.

Make Durham Precious Metals your choice for gold and silver bullion.

Consider a Gold IRA as well