All funded accounts are assessed monthly membership dues of approximately $2.50*, which covers vaulting and insurance of the first two gold coins, or fractions thereof. After that, vaulting costs about $0.25 cents per gold coin per month. The vaulting of silver coins costs about a penny per coin per month.
Goldback accounts are currently exempt from vaulting fees. This may be subject to change at some point in the future.
Consider these example accounts:
* Dollar Value of Account
Estimated MonthLy Cost
|$2,500 Gold Account||$2.50|
|$10,000 Gold Account||$4.00|
|$50,000 Gold Account||$12.00|
|$100,000 Gold Account||$17.00|
|$2,500 Silver Account||$3.50|
|$10,000 Silver Account||$7.50|
|$50,000 Silver Account||$27.50|
Members may redeem up to $10,000* of silver or gold obtained through the UPMA exchange for cash at a 0% buy/sell spread in any 30-day period. Such redemptions may be taken as additions to a reloadable UPMA debit card, by check, or as transfers to the member’s bank account. Members may also take physical possession of their coins.
If a member wishes to redeem more than $10,000* within a 30-day period, the redemption rate drops to 2% above fix for gold and 15% above spot for silver, which is much better than the typical coin dealer because we can reallocate the coins within the UPMA network. If however, a member’s redemption request exceeds an amount that can be processed in network due to lack of liquidity then, out-of-network liquidation costs would be passed along to the redeeming member. For example, if we have three members wishing to redeem $50,000 worth of silver each and if no one wants to purchase silver in a given time period then those three members could wait to get a better rate or accept out-of-network rates.
Members may take physical possession of their coins on site with 48 hours advance notice or by shipment to the member at cost. A government issued ID will be required to verify identity for such withdrawals.
Vaulting and membership dues are denominated in gold and silver cents so that members need not set up separate payments to cover recurring costs. Membership dues appear on the statement as 10 gold cents (remember that an ounce of gold is $50 gold dollars). The price of vaulting each gold coin after the first two is 1 gold cent per month. The price of vaulting silver is one silver cent for every twenty silver coins. At current exchange rates this equates to about a penny per silver coin per month and one quarter per one gold coin per month. Vaulting discounts are available on large accounts.
Member to Member transaction fee:
Within the UPMA closed-loop network, members may pay one another for goods and/or services using their silver or gold holdings. A 2% transaction fee, capped at one gold dollar, applies to each transaction.
Debit Card Fee:
An activated True Link visa debit card costs $10* per month. This fee is waived if the account is funded in excess of forty gold coins ($2,000 gold dollars) or the silver equivalent, or if the member increases his holdings by a net $1,000* per month.
* References to “dollars” mean Federal Reserve Notes unless designated as gold or silver dollars.
A 1% fee applies to exchanges of gold for silver or visa versa.
Discount for Large Accounts:
Costs of vaulting and insurance for gold holdings in excess of 40 coins is discounted by 50% for all additional coins.
|Member Dues for unfunded accounts||Free||N/A|
|Physical Withdrawal of Gold or Silver coins.||Free||N/A|
|Member Dues for Funded Accounts||$0.10||Gold|
|Vaulting/insurance for up to $100 Gold Dollars||Free||N/A|
|Monthly vaulting/insurance for each increment of $50 Gold Dollars above the initial $100 Gold Dollars||$0.01||Gold|
|Monthly vaulting/insurance for each increment of $20 Silver Dollars||$0.01||Silver|
|Up to $10,000 Paper Dollar monthly volume in redemptions of prior contributions||Free||N/A|
|Switching holding from gold to silver or vise versa.||1.00%||Either|
|Silver dollar redemptions in excess of $10,000 in a 30 day period.||15% above Fix||Silver|
|Silver redemptions if forced to sell out of network (i.e, a member wants to sell $1,000,000 worth of silver immediately)||Wholesale Rate||Silver|
|Gold redemptions in excess of $10,000 in a 30 day period.||1% above Fix or Wholesale||Gold|
|Gold redemptions if forced to sell out of the network (i.e, a member wants to sell $1,000,000 worth of gold immediately)||Wholesale Rate||Gold|
|Monthly True Link Debit card fee when activated if not exempt||$10.00||Paper|
|Member to Member transfers||1.00%†||Either|
† Capped at $1 gold/silver dollar.
For further information, please call 888-210-8488 or email firstname.lastname@example.org