Service Fees
Service Fees
Affordable memberships through UPMA
UPMA assesses its members fees to cover the cost of vaulting, insurance and member dues. Vaulted Gold Dollar accounts having a balance between one and 500 Gold Dollars (ten Gold ounces) are assessed a monthly fee of five basis points (0.05%). This would equate to $1.00 for a one ounce Gold coin at a $2,000/ounce exchange rate. For balances in excess of 500 Gold Dollars, the monthly fee drops to two basis points per month (0.02%), e.g., $0.40/month per ounce, assuming a $2,000/ounce exchange rate. A balance of less than one Gold Dollar is not assessed any fees, nor are fees assessed on leased Gold Dollars.
Vaulted Silver Dollar accounts carry a monthly fee of five basis points (0.05%). Using an exchange rate of $40/ounce, this would equate to a fee of $0.02/month per ounce. An account balance of less than one Silver Dollar, as well as leased Silver Dollars, are not assessed any fees.
For Goldback® accounts, Goldback Inc. covers all applicable vaulting, insurance and membership dues, at no cost to the member.
All fees are denominated in precious metals so the Paper Dollar cost will vary. For sample fees consider the examples below.
Estimated monthly fees
(in U.S. Paper Dollars assuming $2000/Gold oz. & $40/Silver oz. exchange rates)
Account Total | Fee |
|---|---|
$1,000 Gold Vaulted Account | $0.50
|
$10,000 Gold Vaulted Account | $5.00
|
$100,000 Gold Vaulted Account | $26.00
|
$1,000 Silver Vaulted Account | $0.50
|
$10,000 Silver Vaulted Account | $5.00
|
$100,000 Silver Vaulted Account | $50.00
|
Any Leased Balance | $0.00
|
