My wish list and True "Paper" Gold

IrishGuyIrishGuy Posts: 122 Bronze ✭✭✭
Hi All.
Like everyone, I am awaiting a cleaner process for opening/linking the holding account as posted by @Roy Sebag recently. post here.

I am not sure how many people have heard about ValAUrum or the Aurum as they call it but I would love to see a Goldmoney version of what I see as the nearest representation to true paper gold in 0.1g and 0.25g 24K gold. Ok, technically it is gold sandwiched between two pieces of plastic, but ....
While these are more than the cost of the weight of gold itself due to the processing costs, I think it is a viable option potentially for Goldmoney users to redeem small amounts of gold if they so choose. Likewise Goldmoney could bring this to a larger audience and reduce manufacturing costs potentially bringing the price closer to the real price of gold. If nothing else it would be a nice marketing tool for Goldmoney, as the Aurum looks like true paper gold.
Just my thoughts but I would believe this would be a much better investment than mene for Goldmoney.
For the record I have no affiliations with ValAUrum, I just think the product is novel, like the Goldmoney platform.

Lastly on my wish list but hugely difficult I would also love to be able to buy a share of Goldmoney stock via the Goldmoney portal, as investing in Canadian stock markets is not easy, but that is probably a different topic/discussion. If anyone knows of a large online broker that facilities same, please let me know.
Thanks for reading my wish list.
IrishGuy
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Comments

  • paddy10tellyspaddy10tellys Posts: 195 Bronze ✭✭✭
    @IrishGuy - thx for the heads-up! I checked out the website... I think this is absolutely amazing... cheers. I would love GM to co-operate with this initiative

    ps I bought GM shares XAU-T https://tddirectinvesting.co.uk/ here
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    MENE is a fantastic investment. All kidding aside I am more excited for MENE's potential over this platform at the moment. Don't get me wrong, I think this platform has great potential but MENE potential is unbelievable. There is NOTHING like it out there. The potential is unlimited if rolled out wisely.
    IrishGuy said:

    Hi All.

    Just my thoughts but I would believe this would be a much better investment than mene for Goldmoney.

    IrishGuy

  • IrishGuyIrishGuy Posts: 122 Bronze ✭✭✭
    @paddy10tellys Thank you for letting me know how to purchase via TD.
    @GoldisMoney The website have very little information, so it just looks like another jewelry shop to me. Can you explain why you believe it is a good investment for Goldmoney?
  • paddy10tellyspaddy10tellys Posts: 195 Bronze ✭✭✭
    @IrishGuy have a look at community.goldmoney.com/discussion/comment/25690#Comment_25690 this thread & the article that it refers to (rationale for MENE)
  • IrishGuyIrishGuy Posts: 122 Bronze ✭✭✭
    @paddy10tellys Thanks for the link.
    I spend a lot of time in India and jewellery shops that sell all manner of gold necklaces, rings etc with certified gold content exist. Example this is within 10k of where I am. http://www.goldsoukgurgaon.com/
    May be novel for the west but I just do not see the charm. I will await the launch. With GST (value added tax!) not ideal but still tax low. Dubai has no tax and is the place I believe for this type of shopping.
    It will totally depend on cost and sales taxes etc but if just paying for weight and no extra costs, agree a good idea.
    Thanks again.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @IrishGuy The link @paddy10tellys explains some of my excitement for MENE.

    The reality, jewelry companies in the West are a complete rip-off. In the West the largest portion of the overall cost you pay goes towards the design. A small portion of your money is going towards watered down gold... 10k, 14k, 18k. Anyone that has grown up in the East understands purity of gold and the weight of that gold should be a near direct correlation with the current price of gold with only a small portion of your money going towards design. I grew up in the West but have traveled to the East. When I was in Bangkok I went to a jewelry district. It was a whole different world! Almost all the gold is near pure and they discuss the weight of the gold. There was store after store beside each other which also keeps them honest and competitive. It is a wake up call as to how foolish we are when making jewelry purchases in western civilization. One of friends that grew up in the East before moving to Canada laughs at 10k gold and refers to it as "fake" gold. Different worlds.

    With MENE they are bringing that East mentality around gold to the West. I also like the timeless design element they are striving for. Having Picasso's granddaughter as head of design surely adds to my excitement. I like how MENE will buy MENE jewelry back from customers and pay in correlation to spot price. Potentially a MENE customer could buy gold jewelry today and a few years down the road sell it back to MENE for more than the paid for it! How awesome is that? Gold jewelry the way it was is the beginning, a store of value. I think MENE will wake a lot of people up and I see it having ludicrous potential.
  • RocketDogRocketDog Posts: 450 Bronze ✭✭✭
    Good explanation @GoldIsCurrency. Thanks for educating us. I will take a look at that.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
  • IrishGuyIrishGuy Posts: 122 Bronze ✭✭✭
    edited August 24
    @GoldIsCurrency yes - cheers for the explaination.
    I am going to add something else to my wish list. I currently have 2 GM cards USD and EUR. However I travel a lot with work and hate the way credit cards can cut you off for suspect transactions etc.,
    I recently applied and got a Revolut card https://revolut.com/ - pre paid card that you load up with Euro in my case but allows withdrawal in any currency. I tried with the Euro GM card at an ATM and it did not work while this did. This may have been me but I do not think so. I would like to see Goldmoney work with the bankers to have a card that works globally like Revolut. I am sure there will be many companies like them in years to come as fo tech comes of age. However GM is leading the way. Again if I am incorrect in my understanding of my GC cards please let me know.
  • PowerlunchmoneyPowerlunchmoney Posts: 234 Bronze ✭✭✭
    I hope they'll be marketing MENE in India.
  • IrishGuyIrishGuy Posts: 122 Bronze ✭✭✭
    edited August 24
    @Powerlunchmoney I would think GM would be better marketing Goldmoney. I have a friend in India who has gold, and takes a loan out against the gold just so the bank stores the gold for him! https://www.hdfcbank.com/personal/products/loans/gold-loan
    How crazy is that. He does not want the cash - just somewhere to store the gold!!! Pays off the loan and takes out another one!
    Doubt MENE will do well in India as rural India do not purchase gold online. Internet is also poor in most places 2G coverage.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    Thought I would share this. Last night I was talking about Menē with a friend and we had a discussion about the gold being 24 karat. She was under the impression it wasn't possible thinking the gold would be too soft. So with a quick google search about 24K jewelry a Quora answer came up. The reason why I am posting is the answer that came up was written by Roy Sebag. It gave me a "this is a small world" chuckle.

    https://www.quora.com/Why-dont-US-jewelers-make-22k-and-24k-gold-Why-is-it-always-14k-10k-or-18k


    Roy Sebag, Founder of the world's only full-reserved gold-based financial institution.
    Updated Jun 25
    For roughly 3 billion people in the Eastern world, jewelry is the same today as it was 6,000 years ago:

    Jewelry is pure 24 Karat gold.
    Prices are determined by multiplying the weight of each piece by the changing daily gold value. A minimal and transparent design fee is added above the gold value.
    Jewelry can be sold or exchanged as easily as it can be bought.
    When purchasing jewelry in the Western World you will find that:

    Items are gold plated or only 14-18 Karats (58%-75% pure) when branded as “fine”.
    The gold weight is almost never disclosed; therefore, prices are purely subjective.
    Jewelry does not maintain its original purchase value or appreciate.
    Over the past 30 years, the western jewelry industry and luxury jewelry brands have lost sight of jewelry’s historic role as a store of enduring value, seemingly forgetting that pure gold was the historic foundation that enabled jewelry to transcend time and safeguard memories as an heirloom.

    The myth that jewelry can’t be crafted with pure 24 Karat gold due to its “softness” contradicts thousands of years of history, not to mention a vibrant 24 Karat gold jewelry market in the Eastern world. While it’s true that pure gold is more malleable than other metals, it’s still hard and indestructible.

    The Indians and the rest of the emerging nations continue to treat gold jewelry as money and a store of value. That is why they demand high karatage. My recommendation is you begin demanding high karatage jewelry at an honest and transparent price.

    My latest venture Menē, which has been founded along with Diana Widmaier-Picasso designs, manufactures, and markets timeless 24 karat gold jewelry under the brand name Menē. We retail our jewelry direct-to-consumer through a transparent and empowering online shopping experience. On our website, customers can buy, sell, and exchange their jewelry by weight at the prevailing daily price for gold as quoted on the international bullion markets.

    Our mission is to change how consumers perceive jewelry, reviving the ancient tradition of jewelry as a store of enduring value and accessible savings. You can learn more via the following links:

    Mene Inc.

    Goldmoney Announces Investment in Mene Inc.
  • GoldmattersGoldmatters Posts: 3,551 Admin
    @GoldIsCurrency great info GMH! Thanks for sharing with the community
  • RocketDogRocketDog Posts: 450 Bronze ✭✭✭
    After checking out the Mene site, I have to say that I am impressed. I have never been into jewelry, and when I think about it, I think it is because I view most of it as "fake" or difficult to understand the value. And as a middle-class working sort of person I figured it was not something I should bother with. But having a pure gold piece of jewelry actually does make sense. Lots of it. Like I wonder if you could buy a bead or cube necklace and then keep adding cubes or beads? Maybe the clasp would pose a problem? In which case they could craft a fine metal chain or cable that could "store" all sorts of gold items that have a hole in them. And people could transact with the gold beads or cubes off their necklace or charm bracelet or whatever. They could make little, flat disks or ovals that could be used as coins and easily kept on a chain. It would be both attractive and very practical.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    For those that have interest in Menē I found these links/video's on Roy's Instagram of interest. The collection is more extensive than I had thought. This is an exciting venture for Goldmoney. Hold your XAU shares tight.

    roysebag Mene is coming soon. Worlds first 24 karat investment jewelry brand. Final product shots today with our legendary creative director @sunjoomoon who along with @therealdianapicasso have designed nearly 2,000 skus in less than 5 months. Sign up for an early invite at mene.com #mene24k


    roysebag I've invested in and have been a part of many different kinds of businesses in my 15 year career. I must admit that there is a unique pleasure in taking a raw material like gold and manufacturing it into jewelry. Seeing the process first hand and the level of energy and dedication required has been humbling. What you see here are pure 24 karat gold chains being manufactured using a proprietary laser machine we acquired and imported from Italy. As far as I'm aware, no other company is doing this on US soil. We now have three machines running full time converting 24k gold wire (extruded from 24k gold bullion bar) into chains for the upcoming launch of Menē. Follow @mene to learn more. It was only 9 months ago when I was in the depths of India witnessing similar machines and wondering why no jewelry company was doing this in the west. #mene24k


  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
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