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FAQ's
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| What
is the Privacy Policy of GoldExchange? |
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GoldExchange Statement of Privacy:
It's not just something we do, it's who we are. We maintain the strictest
possible internal policies concerning your privacy.
We do not sell or otherwise provide your Client Profile information or other
personal information to any third party without your permission. GoldExchange
support personnel have limited access to account data and do not have access to
passwords. GoldExchange account holders are responsible for protecting
passwords. Passwords should be memorized or stored in a safe place.
GoldExchange personnel will never ask for passwords and clients should never
give out their password.
Questions should be directed to
support@goldexchange.com.
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| What
are the Terms and Conditions? |
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Click
here to see the Terms and Conditions.
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| About
Us? |
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GoldExchange is incorporated in Costa Rica as
GoldExchange Inc. S.A. GoldExchange backs all gold purchases 100% with actual
gold held in trust by GEx Trust AG at Credit
Suisse, Luzerne, Switzerland.
See 'Contact
Us' for more information.
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| What
is your refund policy? |
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GoldExchange will buy gold as specified on 'Sell
Gold'. For merchants that allow use of credit cards to purchase gold,
we must have a signed receipt from the card holder before proceeds are
distributed. Otherwise, the original credit card purchases will be refunded.
Contact
accounting@goldexchange.com for more information.
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| How
do I Change My Password? |
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Passwords are used during the login process. To change
your password, login and click on 'My Profile'. You can then specify and
confirm a new password. Support does not have access to passwords, so save
passwords in a safe place. If you forget your password, use the 'forgot
password' function under the login pad. You will be required to provide your
username, secret question and secret answer. If the information matches, your
password will be emailed to the address registered to the account. As a last
resort, contact
manager@goldexchange.com and you will be contacted by the phone number
registered to the account. Once you have identified yourself to GoldExchange's
satisfaction, your password can be temporarily reset. Once access is recovered,
the password should be immediately changed.
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| Where
is the Gold Stored? |
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GoldExchange backs all gold purchases 100% with actual
gold held in trust by GEx Trust AG at Credit
Suisse, Luzerne, Switzerland. The trust is administered by:
Kummer Bolzern & Partner
Advokatur Notariat Mediation
Winkelriedstrasse 35
CH-6002 Luzern
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| How
does GoldExchange handle disputes? |
| GoldExchange has an
Alternative Dispute Resolution Policy.
Any controversy or claim arising out of or relating to the Terms of Service or
any provision of service of GoldExchange to any Client shall be settled by
mediation, or failing that by binding arbitration in accordance with the
commercial arbitration rules of the American Arbitration Association.
Any such controversy or claim shall be mediated or arbitrated on an individual
basis, and shall not be consolidated in any mediation or individual basis, and
shall not be consolidated in any mediation or arbitration with any claim or
controversy of any other party. The mediation or arbitration shall be conducted
in a jurisdiction acceptable to GoldExchange.
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| Where
is the Glossary of Terms? |
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| Assay
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To test a metal for purity.
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| Bid /
Ask
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Bid
or buy is the price a dealer will pay for gold bullion coins. Ask or
sell is the selling price offered by a dealer. (See Spread.) |
| Bullion |
Uncoined
precious metals usually in the form of bars, wafers or ingots. |
| Bullion
Coin |
A
legal tender coin whose market price depends on its gold content, rather than
its rarity or face value. |
| Cash
Price |
Price
required for immediate settlement since most gold purchases are cash
transactions. Also known as "spot price." |
| Face
Value |
The
nominal value given to legal tender coin or currency (i.e., a 1-oz gold
American Eagle has a face value of $50). |
| Four
Nines |
Gold
with a fineness of .9999 (the purest gold available). |
| Karat |
Unit
of fineness, scaled from one to 24. 24-karat gold (or pure gold) has at least
999 parts pure gold per thousand; 18-karat has 750, etc. |
| Legal
Tender |
The
coin or currency which the monetary authority of a country declares to be
universally acceptable therein as a medium of exchange; acceptable in the
discharge of debts. |
| Liquidity |
The
quality of being readily convertible into cash. |
| London
Fix |
Twice-daily
bidding session in London of the five major gold traders, at which the price is
fixed or set. The London Fix is the basis for many gold contracts worldwide. Read
history of the U.K fix.
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| Numismatic |
Coins
which are valued for their rarity, condition and beauty beyond the value of
their gold content. Generally, premiums for numismatic coins are higher than
for bullion coins. |
| Premium |
In
gold coinage, the amount by which the market value of a gold coin exceeds the
actual spot value of its gold content. Part of the premium is recovered by the
seller at resale. |
| Spread |
Represents
the difference between Bid and Ask prices. |
| Troy
Ounce |
A
unit of weight, equal to about 1.1 avoirdupois (ordinary) ounces. The word
ounce when applied to gold, always refers to troy ounces. 1 Troy Ounce =
31.1034768 grams. |
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| How
can a new client use their gold? |
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Once the deposit to a new client is complete, the new
gold-holding client may elect to retain their gold position in digital form,
transfer all or portions of their position to other Goldexchange account
holders or merchants who accept gold payment for goods or services, or sell
their gold position and go to cash or take physical delivery. Each option is
available after account login.
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| How
do I Transfer Gold to another party? |
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GoldExchange allows you to make and receive payments in
gold to anyone, anywhere that has Internet access and an email address. There
is no waiting around for checks to clear or bank wires to arrive. After login
click on the 'Transfer Gold' button and fill in the payment form, send it off,
and instantly gold is in the recipient's account available for their immediate
use. All payments are irrevocable. It is the account holders responsibility to
due diligence on anyone they intend on sending gold payments to. Please
contact
support@goldexchange.com with questions.
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| Why
does the time shown for events and spot prices not match my local time? |
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The time shown for events is in Eastern Standard Time.
This is the time zone for the east coast of the United States. Our rates are
supplied based on the New York market.
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| Why
should I use GoldExchange? |
| Simply put, with gold you gain
privacy, wealth protection, convenience and the potential for profit. These are
good reasons you should buy gold and use GoldExchange's payment transfer
system. Dollar denominated holdings (bank accounts, bonds, cash, etc.) are
subject to the vagaries of the international monetarists and their monopoly
over money production.
Move ahead in the financial race by using a technology that combines the oldest
form of wealth management with the technology of today. It's now possible to
use gold like you use cash, so why not upgrade? Mention the word "gold" and
people instantly want to know more.
Once gold has been purchased, clients have the following
options:
+ Keep your gold in the vault by retaining a balance of
gold with GoldExchange. Low storage costs, one hundred percent backing,
independent physical audit monthly, and complete privacy for all your
transactions are all excellent reasons to consider retaining a part of your
portfolio as gold from GoldExchange.
+ Sell your gold: GoldExchange will buy back gold in
your account balance at the current spot price on demand. On sale, the proceeds
are distributed via bank wire or ACH as you direct.
+ GoldExchange enables you to make truly private and
secure gold based payments to other GoldExchange account holders and merchants
who accept gold in exchange for goods or services.
All forms and uses of GoldExchange are quick and easy to
use. In addition, they are conducted within a secure interface that provide
total privacy, protection and profit for you and your gold.
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| I
have a specific issue, or my question isn't answered in this list. |
| Please email your question to
support@goldexchange.com.
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| What
happens if I send gold to someone that does not open an account? |
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The GoldExchange transfer system will only allow
transfers to existing GoldExchange accounts.
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| What
if I have more than one email address? |
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The email address you have provided GoldExchange is your
public account number. When giving your email address out to those from whom
you expect gold payments, make sure you give them the one tied to your
GoldExchange account.
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| How
do I sell gold back to GoldExchange? |
| There are many forms and uses
of gold available to you at GoldExchange.
"Nothing beats a little cash in a bear market, of course, and the oldest form
of cash is gold." -- James Grant
We welcome you to keep some or all of your gold in your GoldExchange account as
a hedge against more aggressive investments, but if selling it altogether is
part of your strategy, then the service you need is only a click away. After
login, click on 'Sell Gold' and complete the form. Sale requests will remain
pending until processed by accounting. Gold sale requests are processed daily
Monday - Friday, except holidays. Proceeds from the sale will only be sent to
accounts in the same name as the GoldExchange account holder. Contact
support@goldexchange.com
with further questions.
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| How
do I change my account information such as email address? |
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Login in to your GoldExchange account, go to "My
Profile" and make the change as needed.
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| Can
I send gold to someone who does not have a GoldExchange account? |
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We no longer have the functionality necessary to support
this feature. The intended recipient must first open a GoldExchange account
before gold can be transferred to them.
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| Why
is gold better than the US Dollar? |
Gold is stable. It retains its
value over time. In contrast, the US dollar has declined in value over 90%
since the 1920s, and continues its decline today. This is due entirely to the
Federal Reserve's surplus production of fiat money ---- paper money without
adequate backing.
Over time, gold has proved to be immune to politics, economic forces, and war.
Certainly there are temporary spikes and drops over short periods as gold
floats against world currencies, but 5,000 years of stability makes every other
payment system pale in comparison. Gold relates to the deepest part of
humanity, and therefore can be relied upon to hold value in even the most
difficult circumstances.
The Internet has led to the collapse of state and national borders, enabling us
to explore, talk, buy, sell and research around the world instantly,
GoldExchange adds the world's oldest form of wealth and trumps it with privacy.
GoldExchange is the future.
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| What
is my account number? |
| Your account number for public
use is the email address you registered with GoldExchange. Every client account
is tied to a unique email address. A validated email address is essential for
opening a GoldExchange account. During your initial account setup process,
GoldExchange's computer will verify your email address by sending you a message
to your email address requesting validation.
For security reasons, each customer generates both a user name and password when
opening an account. The user name you establish along with your password are
used to access you account. This information should be kept confidential. Your
email address is not confidential so you may give this to anyone and it will
act as your "public account number."
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| Where
can I buy gold? |
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See 'Buy Gold'
for details.
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| Why
Gold? |
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If you're an investor, and you don't own gold, you're
missing out on one of the best-kept secrets in the financial world. Gold is a
marvelous investment: it is stable, secure, independent of national and
international politics, and inflation-proof. Currently gold is extremely
undervalued which makes it an attractive investment. Major investment houses,
financial service providers, and newspapers, such as the "The Wall Street
Journal", "Financial Times", and "Investor's Business Daily" report that gold
is the single best hedge against inflation that exists. Gold does the key thing
you want an investment to do: it ensures your future financial security.
Gold is the international standard of value. With gold,
you have a stable, crisis-proof, anonymous, and convenient way to protect that
portion of your savings you decide to devote to it, while enabling you the
ability to access and transact your investment.
In the past gold was difficult to deal in; you had to buy through a coin shop
or bullion dealer and keep a safe in your basement to store it. It was
thoroughly inconvenient to convert gold to cash. Not anymore!
GoldExchange makes owning, storing, spending, and selling gold easy.
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