UPMA™ was established as a natural outgrowth of the passage of the Utah Specie Legal Tender Act in 2011. Accordingly, the association exists to promote intelligent Choice in Currency. As provided in its bylaws:
The United Precious Metals Association (UPMA), a Limited Cooperative Association, operating exclusively on a non-profit basis, for educational, benevolent, and reformatory purposes, seeks to promote the wide circulation and use of gold and silver ("specie") legal tender within the United States of America, by establishing and promoting standards and programs for the vaulting, exchange, accounting, and audit of specie legal tender.
To these ends, the association offers Liquid Gold™ accounts. Members can contribute to such accounts using paper or specie dollars as well as gold or silver bullion. Liquid Gold™ holdings can be withdrawn by taking delivery of physical coin or used for purchases via the web or by debit card at a 0% buy/sell spread, thus truly re-monetizing gold and silver dollars. UPMA also works to establish standards for the vaulting, insurance, accounting, and exchange of specie legal tender in order to create workable solutions that inspire public confidence.