How does Goldsaver buy gold?

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Here you will find answers to the following questions:

▪ What happens to the funds deposited by customers?
▪ Does Goldsaver trade in customers’ money?
▪ How does Goldsaver buy ounce gold bars if a customer bought gold for, say, PLN 50?
▪ Do several customers have a “stake” in the same bar?
▪ Does the gold bought by the customer lie in escrow?
▪ Does Goldsaver hedge any amount of gold for the business?
▪ How does Goldsaver hedge against exchange rate risk?

At a glance

• The gold supplier for Goldsaver is Goldenmark.
• Once the payment is credited, Goldsaver immediately buys the gold.
• The price of gold is determined based on the exchange rate of the National Bank of Poland published each working day at 8 a.m., in PLN.
• Goldsaver at any time stores an amount of gold equivalent to the amount purchased and not yet collected by the store’s customers.
• Once you have collected 31.1 grams, you can pick up your gold bar within three business days, leave it in the Goldenmark vault, or resell it.
• Once you have collected one bar, you can start buying and accumulating gold for the next bar.

Goldsaver is an innovative online store on the Polish market, which allows you to buy 1-ounce gold bars “by the piece”, without having to spend a larger amount at a time, based on any deposit from as little as PLN 50. Behind the Goldsaver brand is the Goldenmark Group – a leading distributor of precious metals on the Polish market, which has provided Poles with more than 530,000 ounces of gold, or more than 16.6 tons of bullion, during its 13 years of operation.

What does the process look like?

1.After the payment is made and credited to our account, you immediately buy gold at the NBP exchange rate published each business day at 8am, plus the cost of the physical bar (about 6.9%).

Find out what makes up the price of a gold bar.

Goldsaver does not trade the money from the transaction – it immediately sells you the gold for it, which is owned by you, i.e. the store customer. All transactions are carried out immediately, i.e. the moment the transfer is credited.

(2) The amount of gold that Goldsaver holds at any time is equal to the amount of gold purchased but not yet collected by all Goldsaver customers.

It also means that until you collect the whole bar (31.1 g), the portion of the bar you own is temporarily stored as a shared bar with other customers. It is this mechanism, similar at least to the well-known group purchases, that makes it possible to buy gold for as little as PLN 50.

3 Thus, your Goldsaver store account does not hold funds, but gold. You buy gold in the Goldsaver store, which is held by us until you buy 1 ounce.

4 When the amount of gold you have purchased is 31.1 grams, which is the weight of a one troy ounce gold bar, you can pick up your bar (we will send it to you within three business days), resell it, or take the opportunity to store it in Goldenmark’s vault, fully insured, at no additional cost.

Find out why a 1 ounce (31.1 g) bar.

If you decide to pick it up – you can do it in person at one of the dozens of Goldenmark network showrooms, or we will send you your bar by insured courier to your home or to a parcel machine. Of course, regardless, you can continue shopping for gold for your next bar.

5 The bars will stay in the Goldenmark vault until you pick them up. Throughout this time, the gold bars already purchased by you will remain safe.

Logistical security

Goldsaver’s gold supplier for the Goldsaver store is Goldenmark – one of the largest investment gold suppliers in Poland, a company with more than a decade of history and trading partners around the world. Goldsaver does not buy gold in stock, however, it has the option to purchase gold from Goldenmark at any time.

Gold bars in the quantity purchased by Goldsaver remain in the Goldenmark vault and are permanently available to Goldsaver’s customers (can be picked up within 3 business days).

Thanks to a process in which gold is purchased on an ongoing basis in the form of one-ounce bars, the risks arising from short-term fluctuations in the gold exchange rate is not present.