GoldMoney allows customers to buy gold, silver, platinum and palladium online, and store these metals at secure vaults in London, Zurich and Hong Kong. Clients can conduct transactions in US dollars, euros, sterling, Canadian dollars, Swiss francs and Japanese yen. 

Unlike other online products that promise ownership of precious metals, GoldMoney is not a “paper metal” programme. The quantity of metals allocated to customers’ accounts that is recorded in GoldMoney’s database is always equal to the amount of metal that is in the vaults. This one-to-one ratio is always maintained and forms a key part of GoldMoney’s governance model.

100% customer ownership is assured by independent third-party reports and audits from the vault operator VIA MAT, Inspectorate – a commodity testing and inspection firm – and by regular audits from a Big Four accounting firm. Independent audits together with ultrasound gold bar testing is what is called the GoldMoney Standard. GoldMoney is simply a guardian of customers’ metals and currencies, and does not record these as assets on its balance sheet.

Customers may also take physical delivery of their gold, if they own 100-or-more grams. They may also pay for products and services using precious metals with other businesses and individuals who accept them as payment.
James Turk and his son Geoff founded GoldMoney in 2001. As of April 28 2011, the company safeguards over US$2.1 billion of precious metals and currencies, owned by more than 18,000 customers from countries all over the world. It is based on the British Channel Island of Jersey.