Frequently asked questions
Yes. All investments on Unifimoney are for fully allocated ownership in physical precious metals. This means the metals are held “f/b/o”(for the benefit of) in your name and are subject to the rules of bailment. I.e. the metals are your asset, not that of Unifimoney.
As part of that, you can take delivery of your physical metals at any time. Just request a quote for delivery in our app. Because we offer the convenience of “fractional” investment in some physical precious metals products, you may want or need to convert them to take delivery in common smaller coins and bars.
In order to provide the best pricing and liquidity to our customers, we utilize multiple vaults for the safekeeping of your assets. All vaults are in the U.S., and operated by independent third-party security firms specializing in precious metals, including Brinks, Loomis, and IDS. The assets are reconciled daily, independently audited, and fully insured for their replacement value at all times.
Trading fees are already embedded in the price when you buy and sell but it is typically 0.50% above our costs, separate fees are charged for storage and delivery (if chosen). We aim to provide the best value fractional precious metals solution in the market. For larger orders over $10k the fees are 0.25% above our costs.
Insured storage fees are calculated based on the value of your assets, similar to an exchange traded fund or mutual fund. The rate is 50 basis points (0.50%) annually for gold or platinum and silver.
Fees are calculated and accrue on a daily basis based on the sale value of the metals at the end of the trading day, and are charged monthly (or when you decide to take delivery of your metals, on a prorata basis). There is a minimum $1 fee per month for storage.
Unifimoney’s precious metals program is operated by the preeminent name in physical asset security and logistics GBi (www.bullioninternational.com). The same vault network provider is used as the world’s largest wealth managers, who store billions of dollars in precious metals on behalf of clients. Every single ounce of metal is accounted for at all times, with fully independent audits of the vaults and all financials. Our partners are subject to strict security and technology requirements and undergo regular information security audits as well.
The physical metals themselves are stored with the preeminent names in security: Brinks, Loomis, and IDS. They are under 24x7 surveillance, armed guard, strictly at class 3 vault locations, and fully insured at all times. Stored in a combination of Salt Lake City, UT; New York, NY; Dallas, TX and no you cannot visit your holdings!
Yes we offer the ability to convert fractional holdings into applicable bars or coins. Bars and coins are only available for delivery. Follow the instructions for Delivery in the app and choose the bar or coin you want to have delivered. Please note you will only see bars or coins for delivery that are within the total amount of metals you have e.g. if you own 10oz of silver you will not see an option for a 1kg bar.
We offer customers the ability to invest in one of the lowest spread precious metals available on the market, the same ‘good delivery bars’ traded on physical metals around the world from London’s LBMA to the Comex in NY to Shanghai. But, with the convenience of being able to buy any amount you want, down to the penny. This allows our investors to own real physical precious metals, without all the risks and complexities of paper gold derivatives, available for purchase or sale around the clock online.
These low spread holdings can also be converted on demand into individual coins and small bars convenient for delivery, including as U.S. Mint American Gold and Silver Eagles, the Royal Canadian Mint Gold and Silver Maple Leaf, as well as low cost private minted silver rounds and gold or silver bars. This mix of metals provides the best value and best liquidity available in the precious metals markets globally today.
In the future, we plan to expand the offering to include additional investor-grade bullion products.
We are adding whole bar and coin in the app in near future. Sign up for our newsletter to hear the latest updates.
For delivery options there are a number of alternative coins, bars and rounds that are available and more will be added over time. Currently (subject to change due to availability) the following is available for delivery:
Platinum: 1 Oz Platinum bar
Silver: 1 Oz American Silver Eagle, 1 Oz Canadian Silver Maple Leaf, 1 Oz Round and 100 Oz Bar
Gold: 1 Oz American Gold Eagle, 1 Oz Canadian Gold Maple Leaf, 1 Kilo Bar, 1 Oz Bar
Everything is measured in troy ounces, never imperial. And fine weight only. So a 1 oz coin is 1 troy ounce of fine silver.
Source country for the underlying bars varies, but is predominantly US, all LBMA good delivery bars.
Hallmark. Typical providers: Heraeus, Metallor, MKS Pamp, Credit Suisse, etc.
Today, you can invest in fractionally allocated bars for storage in our network of vaults – convertible at any time for delivery as whole bars and whole coins. This keeps prices low and spreads tight, allowing investors to make the most gain on their investments possible when they are in storage, along with the flexibility to take delivery for any reason.
In the future we do plan to expand the vaulted offerings to include specific coins and bars also in storage, not just for delivery, and an interface to order just for delivery, for those cases where an investor would rather direct their dollars to a specific form of bullion. For now, we believe the fractional allocated program best serves the overwhelming majority of investors who just want access to physical gold and silver prices without the counterparty risks of financial derivatives – a hedge for their exposure to other asset classes.
Yes. You can take delivery at any time. Just request a quote for delivery in our app. Because we offer the convenience of “fractional” investment in some physical precious metals products, you may want or need to convert them to take delivery in common smaller coins and bars. The cost of this exchange and the insured shipping will be provided to you on request.
Cost of delivery varies depending on the location, but our general estimate is that insured shipping starts at about $25 minimum per package and costs between 0.75% to 2% of value depending on weight, location, gold v. silver (gold is lighter but much much higher value to insure, etc.), and other market factors on shipping costs at the time. We ship via adult signature required, fully insured, using common carriers like UPS and Fedex, or via armored truck for extremely large deliveries (over $75K/day typically).
For delivery options there are a number of alternative coins, bars and rounds that are available and more will be added over time. Currently (subject to change due to availability) the following is available for delivery:
Platinum: 1 Oz Platinum bar
Silver: 1 Oz American Silver Eagle, 1 Oz Canadian Silver Maple Leaf, 1 Oz Round and 100 Oz Bar
Gold: 1 Oz American Gold Eagle, 1 Oz Canadian Gold Maple Leaf, 1 Kilo Bar, 1 Oz Bar
Everything is measured in troy ounces, never imperial. And fine weight only. So a 1 oz coin is 1 troy ounce of fine silver.
Source country for the underlying bars varies, but is predominantly US, all LBMA good delivery bars.
Hallmark. Typical providers: Heraeus, Metallor, MKS Pamp, Credit Suisse, etc.
Proceeds from a sale are available for reinvestment within minutes of your trade’s execution (during market hours). Once your price is confirmed the proceeds are posted to your effective balance. Trades settle fully in 2 business days, after which the proceeds of a sale will be available for withdrawal.
Unifimoney cannot provide tax advice and you should seek professional tax advice from an approved tax advisor. You are responsible to report gains and losses from the sale of precious metals as part of your normal tax submissions. Unifimoney does not provide tax statements for precious metals. Precious metals are typically considered collectibles for tax purposes.
