Related PagesGold Bailment
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
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.