Exchanges & Withdrawals:
Members may exchange any amount of Paper Dollars for Gold/Silver Dollars or Goldbacks® at UPMA’s daily rates. Within any calendar month, members may also exchange between Gold Dollars, Silver Dollars, Goldbacks® or Paper Dollars for up to an equivalent of $10,000 Paper Dollars at the daily rate as well—thus benefiting from a 0% buy/sell spread.
Paper Dollar withdrawals may be taken in cash, by check, as a UPMA debit card reload, or for large amounts, as transfers to the member’s bank account with an ACH or wire. Members may take physical possession of their specie currencies from a UPMA facility with two-business days’ advance notice or by shipment to the member’s address of record at cost. A government issued ID will be required to verify identity for such withdrawals.
If a member wishes to exchange more than a $10,000 Paper Dollar equivalent within a calendar month, the exchange rate for the excess amount will include a competitive, market-based, buy-sell spread. For Goldbacks, the current offer between $10,000 and $100,000 is 10% off the UPMA daily rate. Amounts above $100,000 will need a special quote depending on the liquidity condition of the UPMA network. Please call for a quote.
Vaulting Fees and Membership Dues:
Vaulting fees and membership dues are denominated in gold and silver cents so that members need not set up separate payment sources to cover recurring costs. UMPA membership dues are included in the vaulting fees. Fees and dues applicable to Goldback® accounts are currently subsidized by Goldback Inc., rendering such holdings free of charge to the member.
Member to Merchant Transaction Fee:
Within the UPMA closed-loop network, members may pay merchants for goods and/or services using their metal holdings. A 1% transaction fee may apply depending on the reciepient of the funds.
Debit Card Fee:
An activated UPMA visa debit card costs $10 per month. This fee is waived for account holders making net monthly deposits in excess of $1,000, or for those who maintain on deposit in excess of 1,000 Gold Dollars, or the Silver Dollar or Goldback® equivalent.
Scaled Fees/Dues Overview:
Please refer to the following table for a summary of the current fees, including integrated membership dues:
| Description | Monthly Fee |
|---|---|
| Up to ten vaulted one-ounce Gold Coins | 0.05% |
| Over ten vaulted one-ounce Gold Coins | 0.02% |
| Vaulted Silver Coins | 0.05% |
| Exchange between precious metals1 | Market + 1% |
| Exchange to Paper Dollars for Withdrawal1 | Market + 1% |
| Member to Merchant or Charity Transfer | 1.0% |
| Member to Government Transfer | 0.0% |
| Early Gold or Silver coin lease withdrawal | 2.0% |
| Early Goldback® lease withdrawal | 2.0% |
| UPMA debit card2 | $10.00 |
| Out-of-Network Goldback Deposit up to $10K3 | 5% |
| Out-of-Network Goldback Deposit $10K - $100K3 | 10% |
| Out-of-Network Goldback Deposit > $100K3 | Call for quote |
| Out-of-Network Gold Specie Deposit3 | 5% |
| Out-of-Network Silver Specie Deposit3 | Call for quote |
1. Only applies when total exchanges exceed $10,000 within a calendar month, otherwise free.
2. Fee waived for net monthly deposits above $1,000, or total holdings valued above 1,000 Gold Dollars.
3. Applies when U.S. Specie Legal Tender, i.e. Gold or Silver Eagles or Gold Buffalos, or Goldbacks were acquired elsewhere and the account holder wishes to add them to their UPMA account with all of the associated benefits such as zero buy/sell spread, leasing opportunities, transfers, debit card, etc.
For further information, please call 888-210-8488 or email [email protected].