A New Gold Standard Arrives!

Posted | 12/02/2019 / Views | 3528
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Today Ainslie is proud to launch an exciting new way to invest in gold and silver.  Gold Standard and Silver Standard are fully backed gold and silver tokens available right now for sale.  These tokens seamlessly and securely combine real physical gold and silver bullion with blockchain technology and convenience.

Gold Standard (AUS) has one AUS token = 1g of gold bullion.

Silver Standard (AGS) has one AGS token = 1g of silver bullion.

 

 

 

Quick Overview

Gold and Silver Standard are ERC-20 tokens hosted on the Ethereum network.  Each token is backed by gold and silver bullion already secured, insured and independently verified in Reserve Vault.  You can buy these tokens “OTC” (Over The Counter) from Ainslie Wealth and soon on participating exchanges as well.  You can also redeem them for bullion.

From our website (www.goldsilverstandard.com) you can, at any time, interrogate the secured bullion holdings against the tokens on issue to see they are the same.

The efficiency of the blockchain means you can purchase gold and silver at reduced margins and the security of the blockchain means you can store it for free with ultra high security.

Why Use Gold & Silver Standard?

Gold Standard (AUS) and Silver Standard (AGS) may suit a number of purposes.

  • A low cost and efficient way to more frequently trade gold and silver without the hassles and expense of moving it around.  Once the exchanges are on board you will be able to do so 24/7 too.
  • A safe haven stablecoin for crypto traders to use to park profits or as a way to diversify a speculative portfolio into hard asset backed tokens.
  • A near zero storage cost and secure solution for long term holders of gold and silver.

How is it Different to Other ‘Gold backed’ tokens?

  • Simple & High Reg – other ‘gold backed’ offers are complicated dual coin arrangements to circumvent security laws or are domiciled in low regulatory jurisdictions like Malta or the Caribbean to disregard those laws and other safeguards.  Ours is a simple, Australian domiciled and compliant, easily understood ERC20 token that can be traded anywhere.
  • Direct – Clear ‘look through’ to the underlying asset.  
  • Directly redeemable – provides real arbitrage opportunity which keeps the tokens organically priced to the market price of gold and silver.  Build up your portfolio bit by bit and take physical delivery when ready.
  • Not an ICO – no fund raising, no wait, no gimmicks.  Ready to go with real liquidity and metal already in custody.
  • Brought to you by a 45 year old large Australian bullion dealer and an established high security vault (Reserve Vault) independent of financial institutions or any government body – i.e. experienced in bullion, not some start-up and vaulted outside the financial and government system.  Holdings verified by internationally recognised assurance firm BDO and insured through the world’s pre-eminent insurer.
  • Low transaction fees – just 0.2%.  Much lower than most other offers and no other storage or demurrage costs.

How To Buy Them

Ainslie Wealth sell these tokens as with any other crypto currency.  Just like buying metal, the price changes with the spot price every 2 minutes.  You can come in to the store, phone us or buy online in our webshop.  Just like physical metal purchases or other crypto, we lock a price at the time, produce an invoice, you pay that day, and once we have cleared funds you can take delivery.  

You can also buy in your SMSF.

Storing Gold & Silver Standard

Again, like any blockchain asset you store your tokens on a crypto wallet.  For customers visiting us in store you can receive one of our un-hackable Ainslie Crypto Wallets with your purchase and walk out with it loaded.  The good people from My Ether Wallet have also recently released their MEWConnect hardware wallet that uses your smart phone as the hardware in the way Ledger Nano or TREZOR use their device.  This is a free, secure and easy solution for storing and simply transacting your tokens.  Go to https://mewconnect.myetherwallet.com/#/ for more info and tutorials on how to set one up.

As with metal and the big cap crypto currencies we sell, we also offer an Ainslie Storage Account where we look after all that for you for a one off fee on purchase and sale.

Redeeming Tokens for Metal

You can redeem your tokens at no charge for metal on the following basis:

1000 AUS for 1kg gold bar

50,000 AGS for 5 x 10kg silver bars

Redemptions outside of these quantities or multiples thereof (eg 2,000 AUS or 150,000 AGS) attract a $1000 exercise fee payable and hence are not practical.  You can of course, however, buy bullion of any shape or size from Ainslie Wealth using your AUS or AGS tokens as funds to simply pay for the metal, just as Ainslie Wealth do with other crypto’s.

How Secure Is It?

All the metal is held in Reserve Vault in Brisbane.  Reserve Vault is an independent vault and Ainslie is the majority shareholder.  We know it intimately and trust is explicitly.  The private keys for the token contracts were produced offline and secured all inside Reserve Vault too.  

In terms of financial risk, all metal is held by Gold Silver Standard Custodian Pty Ltd who’s only assets are the metal and only liabilities are the tokens on issue.  It therefore has no insolvency risk at all.

In terms of the token contracts, these were developed by one of Australia’s pre-eminent blockchain developers, Lucas Cullen, and have been tested and audited by EnterSoft who have done likewise for the likes of Yahoo, Blackberry, Dropbox and Western Union to name a few.

Learn More

To learn more read our e-brochure here or visit the website here.  To purchase go to our webstore, phone us on 1800 987 648 or come in and see us.