All UPMA™ accounts are denominated in gold and/or silver dollars. A gold dollar is one fiftieth of a one-ounce fifty dollar U.S gold coin. A silver dollar is a one-ounce U.S silver eagle coin. Redemptions and exchanges are all processed at one exchange rate set each business day based on the London Bullion Market Association (LBMA) fix. This rate based on the spot price of 400-ounce good delivery gold bars is then subject to a coinage premium‐currently 5.8% for gold‐to arrive at UPMA's™ daily rate. The daily rate for silver coin is calculated in a similar fashion. These coinage premiums are subject to change at any time due to supply ebbs and flows.
Subject to limitations specified in the Fee Schedule UPMA™ offers a 0% buy/sell spread for redemptions of gold and silver legal tender into paper dollars. This means that a $1,500 paper dollar exchange for gold legal tender today allows for a $1,500 cash redemption tomorrow, assuming no change in the exchange rate. By contrast, gold dealers typically charge a significant buy-sell spread for such transactions, resulting in a loss of value to the customer.