Exchanges & Withdrawals:
Members may exchange any amount of Paper Dollars for Gold/Silver Dollars or Goldbacks® at UPMA’s daily rates. Within any 30-day period, members may also exchange Gold/Silver Dollars or Goldbacks® for up to $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. 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 30-day period, the exchange rate for the excess amount will include a competitive, market-based, buy-sell spread.
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. Beginning May, 2022, membership dues became incorporated into a fully integrated, scaled fee structure based on the account balance. With respect to Gold Dollar accounts, dues on low balances have been scaled down significantly, while fees charged with respect to Silver Dollar holdings remain unchanged. 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 silver or gold holdings. A 1% transaction fee applies for these transactions.
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 Gold Specie Deposit3 | 5% |
| Out-of-Network Silver Specie Deposit3 | Call for quote |
1. Only applies when total exchanges exceed $10,000 in a 30-day rolling period; 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, were acquired elsewhere and the account holder wished 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].