Cost of redemption

How can you justify the cost of physical redemption - 1 silver coin worth £14, would cost me £15 redemption, and £44 postage. I understand that canadian banks rip you off for sending money in deifferent currencies, but this appears to be you ripping me off!

Answers

  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    You are correct. For a single silver coin it does not make sense. However if you buy the 100 oz bar or a large quantity of silver coins the cost is very competitive. Nobody expects you to by one silver coin, you are better off stoping by your local coin dealer or bank.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @JeffCooper - what @Pinkdog said. Small volume physical delivery is not the Goldmoney business model. 0.5% transaction fees and free transfer between Goldmoney account holders is the original model. (OK originally it was 1%)

  • JeffCooperJeffCooper Posts: 3 Tin ✭
    I'm not sure I agree with you - I joined when it was bitgold, one of the first, and used BTC in small amounts from faucetts to build up my very small, but appreciating gold holding. Then suddenly Dubai became the only vault for BTC, then what you could do with it got smaller, and now out of £22 worth of gold, I can only get £7. I feel cheated to be honest
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