The GoldMoney StandardQuality and security of customer assets have top priority at GoldMoney. You need to be assured that the metals you buy with us are 100% yours and only of the highest quality. To address both needs we have developed the GoldMoney Standard, which is based on ultrasound bar testing and independent, third party audits.Ultrasound testingAs of October 2010 we have begun using ultrasound scanning technology to verify that each of the gold bars we store for you is free of foreign materials and defects.Any bar that fails the ultrasound test is melted down, assayed and then recast into a new bar. We aim to complete the scanning of all gold bars in the first quarter of 2011. The quality test is performed using an ultrasound scanning device, developed by General Electric Inspection Technologies (GE). The test is carried out directly within our vaults. It is the same technology used to assure personal safety in the medical and aviation industries.
Independent AuditsThe precious metals we store for you in high security vaults are audited regularly and reconciled with the metals in our database. All audits are conducted by independent third parties, and the reports are published on our website. The purpose of the audits is to ensure a 1-to-1 ratio of precious metals in our vaults and precious metals recorded in our database.The audits are performed in order to: 1. Confirm all bars recorded in the vaults’ weight lists are actually stored securely in the vaults (Inspectorate audits the bar list by counting the bars in the vaults on a quarterly basis) 2. Confirm the total weight of the precious metals in the bar list is always equal to the total weight of the precious metals recorded in our database (the SAS 70 Type II audit performed by a Big Four accounting firm certifies the 1-to-1 ratio on a quarterly basis, and the report is made available to customers after they login to their GoldMoney Holding)
GoldMoney StandardOnce we have tested the gold bars using our ultrasound scanning devices, and we have the highest certainty that the bars adhere to our rigorous quality standards, they are given our Digital Hallmark™ seal of approval.We then audit the bars regularly and make the independent reports available to our customers. By introducing the GoldMoney Standard to the gold bullion we buy and store for you, we commit ourselves to providing you with the highest assurances that your gold is safe.
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