Digital Gold from Provident - backed by the Canadian Mint

jmski52

Has anyone else received this? What do you think?

Provident Metals

Hi xxxx,

We are passionate about introducing new and innovative products and services to you, our valued customers. And today we have a particularly exciting new offering to announce!

We know that the traditional way of buying and selling precious metals can make it hard to keep up with today’s fast-moving metals markets. No one wants to feel like their bullion investments are always one step behind the rest of their portfolio. So we are pleased to introduce DGGold™ - a breakthrough digital trading platform that revolutionizes the way you buy and sell physical gold.

DGGold™ propels bullion investing out of the stone age into today’s digital world. Finally, you can tap into the speed and accuracy of electronic trading without sacrificing the comfort that comes with holding physical metal. DGGold™ is the fastest, most secure, and affordable solution to buying and selling physical gold.

What is it?

• DGGold™ allows you to buy physical gold down to the 1/1000th of an ounce on a secure electronic trading platform.

• Your purchase gives you 100% direct ownership of .9999 pure physical gold that is stored, insured, and guaranteed by the world-renowned Royal Canadian Mint.

• Your gold holdings and portfolio value are tracked on a cryptographically-secure blockchain database which can be viewed in real time on your Provident Metals dashboard (no more spreadsheets!).

• You can choose to sell DGGold™ or convert to physical bullion from Provident Metals’ full inventory for discreet delivery right to your door at any time.

If you want to:

✔️ Quickly buy and sell physical gold to tap into price movements

✔️ Maintain 100% ownership and title to your metal at all times

✔️ Buy gold in any amount, without having to wait to buy in specific weights

✔️ View the value of your holdings in real time, no matter how fast spot prices are moving

✔️ Shed the burden that comes with shipping, storing, and manually tracking the value of your physical metals

...then DGGold™ is perfect for you.

Call (800) 313-3315 7am-6pm Central Mon-Thu | 7am-5pm Friday

© 2018 Provident Precious Metals. All Rights Reserved.

15850 Dallas Parkway | Dallas, TX 75248

element159

Blockchain!!!!!!!!!!

Timbuk3

Interesting !!!

CaptHenway

Sounds too good to be true. What are the commissions in and out, and does the owner have the option of taking possession of physical gold at a later date? If so, what are the fees for that?

dirtygold

If you don't have physical possession do you really own it?

MsMorrisine

If you need that much speed then you better be well medicated

jmski52

I just got the email, no idea of the costs and no intention to use the service - at least for now. There's still two middlemen and you don't have possession. I'd have to see what the true advantages might be. Right now, I don't see an advantage for me.

Did anyone else get the email?

derryb

Offers pretty much the same advantages of trading PM ETFs with a reputable broker. Doubt they can beat my broker's prices and I like my broker better.

blitzdude

Digital gold? What do I think? Well as the saying goes there's a sucker born every minute. lol

dirtygold

Are these gold accounts insured by the US government similar to how the a FDIC insures bank accounts? If not, I wouldn't trust it. Anyone remember the National Gold Exchange? When they went belly up the gold that they were storing for their customers was no where to found.

davidk

@derryb said:
Offers pretty much the same advantages of trading PM ETFs with a reputable broker. Doubt they can beat my broker's prices and I like my broker better.

Can you take physical delivery of ‘your’ precious metals like you can with www.goldmoney.com?

ricko

Looks to me to be the incarnation of 'bitgold'...Not for me... If I own it, I want physical control of it...Another 'scheme'.... Cheers, RickO

derryb

@davidk said:

@derryb said:
Offers pretty much the same advantages of trading PM ETFs with a reputable broker. Doubt they can beat my broker's prices and I like my broker better.

Can you take physical delivery of ‘your’ precious metals like you can with www.goldmoney.com?

One is not buying precious metals with an ETF, there is no metal to deliver. PM ETFs are derivatives based on the price of something else such as the actual metal or a group of metal miners (i.e. GDX) that give a trader a quick and easy way to participate in metal profits without the delays and expenses of shipping actual metal. When I want possession of physical metal I buy physical metal. I would never purchase a "we hold until you want delivery" lump of metal.

The advantage of the metal ETFs is that one can purchase and sell at the speed of a button. The volatility of PMs offers profits in short periods of time if one is able to get in and get out quickly.

davidk

@derryb said:

@davidk said:

@derryb said:
Offers pretty much the same advantages of trading PM ETFs with a reputable broker. Doubt they can beat my broker's prices and I like my broker better.

Can you take physical delivery of ‘your’ precious metals like you can with www.goldmoney.com?

One is not buying precious metals with an ETF, there is no metal to deliver. PM ETFs are derivatives based on the price of something else such as the actual metal or a group of metal miners (i.e. GDX) that give a trader a quick and easy way to participate in metal profits without the delays and expenses of shipping actual metal. When I want possession of physical metal I buy physical metal. I would never purchase a "we hold until you want delivery" lump of metal.

The advantage of the metal ETFs is that one can purchase and sell at the speed of a button. The volatility of PMs offers profits in short periods of time if one is able to get in and get out quickly.

That’s what I thought. An ETF bears no resemblance to the original topic.

derryb

Original poster asked what I thoug> @davidk said:

@derryb said:

@davidk said:

@derryb said:
Offers pretty much the same advantages of trading PM ETFs with a reputable broker. Doubt they can beat my broker's prices and I like my broker better.

Can you take physical delivery of ‘your’ precious metals like you can with www.goldmoney.com?

One is not buying precious metals with an ETF, there is no metal to deliver. PM ETFs are derivatives based on the price of something else such as the actual metal or a group of metal miners (i.e. GDX) that give a trader a quick and easy way to participate in metal profits without the delays and expenses of shipping actual metal. When I want possession of physical metal I buy physical metal. I would never purchase a "we hold until you want delivery" lump of metal.

The advantage of the metal ETFs is that one can purchase and sell at the speed of a button. The volatility of PMs offers profits in short periods of time if one is able to get in and get out quickly.

That’s what I thought. An ETF bears no resemblance to the original topic.

The original topic is about a specific way to invest in PMs. I like others, provided what we believe are better alternatives. A precious metals ETF offers most of the same advantages as the DGgold and what I feel are some better advantages. Completely relevant to the original topic.

davidk

My point is that buying an ETF is, by definition not ‘investing’ in PMs at all since no PMs are ever actually owned...by ANYONE. ETFs are a purely paper speculative play.

I think it’s important for everyone to understand the important distinction.

derryb

@davidk said:
My point is that buying an ETF is, by definition not ‘investing’ in PMs at all since no PMs are ever actually owned...by ANYONE. ETFs are a purely paper speculative play.

I think it’s important for everyone to understand the important distinction.

Owning a PM ETF is not the same as buying physical metal and yes it is a speculative play just as investing in an ounce of gold is a speculative play. However, a PM ETF is an investment that is based on the performance of the associated precious metal. The decision to purchase the ETF is based on the expected performance of the underlying metal. It's no different than investing in the stock market by simply buying the S&P index.

The distinction that needs to be understood is that there are different ways to invest in PMs. The PM investor needs to understand the advantages, disadvantages and risks associated with each. An informed investor makes a better investor.

davidk

@derryb said:

@davidk said:
My point is that buying an ETF is, by definition not ‘investing’ in PMs at all since no PMs are ever actually owned...by ANYONE. ETFs are a purely paper speculative play.

I think it’s important for everyone to understand the important distinction.

Owning a PM ETF is not the same as buying physical metal and yes it is a speculative play just as investing in an ounce of gold is a speculative play. However, a PM ETF is an investment that is based on the performance of the associated precious metal. The decision to purchase the ETF is based on the expected performance of the underlying metal. It's no different than investing in the stock market by simply buying the S&P index.

The distinction that needs to be understood is that there are different ways to invest in PMs. The PM investor needs to understand the advantages, disadvantages and risks associated with each. An informed investor makes a better investor.

Good luck with your lightning quick button presses and day trading.

I wish you well.

GRANDAM

• Your purchase gives you 100% direct ownership of .9999 pure physical gold that is stored, insured, and guaranteed by the world-renowned Royal Canadian Mint.

Yea,,,,,, maybe not,,,,,,,, I wouldn't let my own Mother hold my Gold.

As stated by > @dirtygold said:

If you don't have physical possession do you really own it?

IMHO the answer is no!

derryb

And Venezuela's 14 tons of gold was backed by Bank of England's promise to return it when asked.

(Maybe they loaned it to someone else.)