Redeeming Physical to Australia
The bit cubes arrived in;
3 X packs of 4 and 1 pack X 3 Goldmoney cubes inscribed "Goldmoney"on one side and "10gm" on the other side.
1 X pack of 4 Bitgold cubes inscribed "Bitgold" on one side and 10gm on the other side.
There was also a small plastic container which would hold 3 layers of 9 cubes neatly inside (27 cubes total)
The shipping was very discrete with a plastic inner bag holding the goods and this was packed with infil poly into a small UPS cardboard box and this box was packed with more infil poly into a larger box. It could have been a mid-size drone or pair of shoes. No one would have been the wiser. No mention of Dillon Gage gold on the packaging or the paperwork. All in all a very good ordering and fulfillment system
With regards to the cubes;
They are neat and uniform in size but the weights were not. On average each cube weighed roughly .1gm over. But never under. Still for the size, it is a little un-nerving when the wights are not accurate.
I was disappointed that the cubes did not have the assay stamped or inscribed. There is no 99.99 or .9999 on the cubes only on the packaging.
I took the cubes to my gold dealer. This is the first time he has seen or heard of these cubes. His impressions were;
Inscribed markings not stamped.
Furthermore he advised me that he could not retail-on-sell the cubes because they were not correctly marked with the three determining markings required for fine bullion. I.E. weight, producer and assay. Therefore he could only take them as scrap and have them sent in for refining. Refining scrap prices are spot-weight less 10-25% depending on form. In this case the form is solid and would be spot less 10%.
He further advised me that even if the cubes became widely known and circulated nothing much would change unless the cubes were stamped with the three defining markings. This is because the cubes would be easier to forge than most coins or other well known bullion bars etc.
So here are some personal observations for the good folk at Goldmoney and for this forum to discuss. I do hope this helps with the community. I very much like the concept of Goldmoney and am confident it will continue to grow very successfully.
Seasons greetings to all.