James Turk, founder of GoldMoney, has created an extremely convenient, secure, and cost-effective way to invest in precious metals — but is this really the best route to take when buying gold and silver? While many people invest their money in paper fiat currencies backed with little more than the “full faith and credit” of a government, they leave themselves vulnerable to the fluctuations of the market and may lose out if their currency loses value. Using currencies can be convenient, since they’re easy to make payments with, but they are not stable, and can be riskier than many people realize.
One of the best ways to invest your money and avoid the pitfalls of currencies is to buy precious metals. First of all, they’re actual physical investments that aren’t simply a record in a computer of money that may or may not exist (as is the case with banks). Owning real physical metals is comforting and provides peace of mind, since it’s very unlikely that they’ll just disappear overnight as may happen if a bank or currency fails. Secondly, metals tend to hold their value and are used often as a store of wealth and a protector of purchasing power. Gold, silver, palladium, and platinum continue to grow in demand due to their rarity, stability, and even their uses in manufacturing jewelry and technology.
Who is James Turk?
A graduate of George Washington University with a degree in International Economics, James Turk has decades of experience with banking, and even served for years in the United Arab Emirates Commodity Department. He has grown to understand the importance of investing in precious metals through his work, and established his own precious metal trading company, GoldMoney, in 2001.
He has written many essays on the problems with relying on currencies, and has urged investors to consider gold and silver as superior alternatives. His book, The Collapse of the Dollar and How to Profit From It, points out the flaws in the current economic system and how people should defend themselves from economic hardship by investing in hard assets.
By establishing GoldMoney.com, James Turk has offered people one of the best ways to invest in gold and silver, as well as platinum and palladium. By allowing them to own metals in a form that is easy to transfer and sell, he has given them a way to sidestep currency and maintain stable wealth through physical investments.
GoldMoney Review – What Makes Gold Money Better?
As mentioned in our complete GoldMoney review, this company stands out from other investment businesses in that it offers its clients the opportunity to directly own gold, silver, platinum and palladium that it stores for them. By maintaining a secure and efficient infrastructure, it can offer its clients an easy way to transfer metals to other vaults, trade them for other metals, sell them when needed, or even use them as currency to make payments. This level of flexibility and safety is difficult for other banks and investment firms to match, and people who buy gold on their own have to fumble with transportation, insurance, and private sales. In essence, GoldMoney makes precious metal investment easy.
Signing up for a free GoldMoney account is fairly straightforward, and can often be done entirely online. It’s easiest to do if you’re a resident of one of 44 “fast-track” countries, where identity confirmation can take less time. Equifax, a consumer report company, is used in the United States, the United Kingdom, and Canada to check on registrant’s credentials.
Once signed up, clients will receive a “Holding”, which is a record of which metals that client owns, in which vaults, and what value they have. The value updates based on market prices, so you’re always aware of your current investment. Depending on the level of registration you’ve gone through, you may have one of three kinds of Holdings. Those who have not yet had their identities confirmed have Limited Holdings, which have very restricted functionality. Going through the fast-track registration results in a Basic Holding, which allows the client to buy, sell, trade and transfer precious metals. The Full Holding allows all of the functions of GoldMoney to be used, including the use of your metals as currency.
While other banks make their money through both service fees and loaning clients’ money to people, GoldMoney relies on fees. Since they don’t own the metals, but rather hold them for their clients, they have to make profits by charging a percentage-based fee for common activities, such as buying and trading. An annual storage fee is also charged, which goes towards the exemplary security and necessary insurance that GoldMoney uses to protect its clients’ investments.
How GoldMoney Can Protect Your Purchasing Power
James Turk warns that investing in currencies is a dangerous game, and through Gold Money, offers people a safer way to protect their wealth. Not only are the vaults secure and the metals guaranteed against theft, GoldMoney.com makes it easier than ever to manage your precious metal holdings. While other investments may fail due to weak industry or poor commercial performance, gold, silver, platinum and palladium tend to maintain their relative values.
GoldMoney isn’t just for purchasing and storing metals. It’s notable in the access it gives its clients to their investments by making it effortless to buy, sell, trade and transfer their metals, and even provides a way for them to use their investments as money. GoldMoney is one of the best ways to buy and sell gold and silver since it’s so easy to use and has such a flexible, well thought out system. There’s no fumbling about with self-storage, while sales and purchases aren’t struggles as they would be with personally managing your metals alone. For a great way to invest in a stable and safe future, check out precious metals, and one of the best ways to manage those metals is through Jim Turk and GoldMoney.