Where can I find more info about the "melting process" and who will pay all the fees? (insurance, shipping, administration etc.. ?)
Also wondering about the gold bars sizes.. since bigger gold bars (1kg) is valued around gold spot price and 1g gold bars way more expensive (50% +).
Who will pay all fee's when exchaning your 1kg bars to 1g shippable bars? From which country do you ship, do we need to pay tax,VA, duties etc?
Hello!
Xaurum can be according to the ratio exchanged for gold anytime, anywhere. Melting is the process of provably destroying XAUR and receiving the quantity of gold determined by xaurum ratio at the time of melting. Xaurum ratio is determined as the quantity of current gold reserves divided by the quantity of the current money supply. Melting becomes economically advantageous only when the market prices are below the value of gold. Melting serves as a mechanism of preserving value regardless of the market price.
All the gold reserves are stored at Loomis, except 6351 g in locally (at the moment Slovenia) for faster melting. The gold is prepaid as 1g 999.9 good delivery gold bars and stored as 1 kg or 0.5 kg bars, to decrease costs. Some additional costs will be required as Xaurum transaction fees (0.5 XAUR per transaction) and as costs for securing international transport, that depend on quantity and your location (you can preview the options and costs here). So we advise anyone to be sure to check your country's gold taxation and other regulation.
With opening of new markets and offices around the globe we are also making melting infrastructure more efficient, so that holders that will decide to melt, will be able to get gold delivered from the nearest Xaurum branch or even in person, if they live close by.You can request a melt at this address:
https://xaurum.org/en/details/meltThank you.