Gold Redemption

Gold redemption is the action of you taking physical possession of gold bullion bars.  At iGolder, you are welcome to redeem your electronic gold into physical gold bullion.

 

Gold Redemption Fee

The maximum gold redemption fee is 5%.  The redemption fee varies according to the availability of physical gold bars as well as the total weight requested for redemption.  Although iGolder is 100% backed by physical gold bullion, we do not always have the exact gold bar size in the country you live.  We purchase gold bars of different sizes and store them in multiple locations.  Our aim is to get as much physical gold at the lowest cost, meaning the redemption of smaller gold bars may require iGolder to swap larger gold bars into smaller bars, thus incurring an additional fee.  Having a redemption fee up to 5% gives us the flexibility to negotiate with other bullion dealers a speedy delivery of your gold bars.  We also want to create a market for gold bar redemption, where multiple dealers specialize in delivering gold bars.  Competition among gold dealers will ensure you pay a fair price for the gold bar delivery.

 

How Redemption Works?

You contact iGolder regarding the type of gold bars you want to redeem and we will give you a quote.  The quote will vary according to the availability of physical bars from our nearest vault.  You can therefore pick which type of bar you wish to redeem.

 

Redemption by Fine Weight

Your iGolder account is denominated in fine weight of gold.  For instance, let us assume you wish to redeem a kilobar having .9999 fine gold content (99.99% purity), then you need only 999.90 grams of gold in your account (assuming no redemption fee).  Assuming a redemption fee of 5%, then you need 1,049.895 grams of gold to redeem a kilobar of .9999 purity.