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Category: Glint's Helpful Hints

Glint’s Helpful Hints: How to buy gold in gold buying season

Last week, we brought you a special report on the best time to buy gold – this week we have some suggestions about how to buy gold. Ther...

4 August 2022

Gary Mead

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Last week, we brought you a special report on the best time to buy gold – this week we have some suggestions about how to buy gold.

There are lots of different ways, all of them shouting for your attention, all of them claiming their own advantages.

But, unlike Glint, they also have their own particular drawbacks.

Gold-backed exchange traded funds (ETFs) are one popular way of getting exposure to gold. But one of the biggest reasons for buying gold is that it’s the only financial asset that is not simultaneously someone else’s liability. With gold ETFs there’s a lot of counterparty risk – the risk that the other party in a transaction (generally a bullion bank used by the ETF Trustee to buy/sell/hold the underlying asset, i.e. gold) may default on its contractual obligations. On top of that, buying a gold ETF doesn’t really give you ownership of gold but only ownership of shares in the Trustee who runs the ETF.

You could buy a derivative on an exchange which trades gold; but once again this is a paper asset, not gold itself.

You could buy bullion coins, and pay a whopping premium over the current price of gold.

What about physical gold – a real piece of metal? That has clear advantages – you can see it, touch it, it’s not some paper representation of gold. But there are also disadvantages. You’ll need to buy insurance against possible theft; it’s cumbersome to lug about; and you can’t use it as money.

That’s why Jason, our CEO, founded Glint.

With Glint you can buy, sell, send or spend real, allocated gold, stored safely in a non-government Brink’s vault in Zurich. That ‘allocated’ is crucial – it means the gold is fully purchased and owned by you, the buyer, before being stored by Brink’s. Moreover, we want to restore gold to its rightful place as everyday money, so we have created a simple debit Mastercard® & App to enable Glint clients to buy almost anything, from a coffee to something much more substantial, in gold.

Gold is security – Glint its key.

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