GOLD Assets Issued: 600,000
Issue Price per Asset: 0.01 BTC
Paying Interest Weekly: 0.88% of Issue/Face Value
Interest Paid: Thursday each week, Beijing Time
GOLD is 100% backed by physical investment grade gold bullion held in secure allocated storage.
The gold bullion held is free of debt and under no contractual liability to any third party.
Asset Backed Securities (ABS)Metals are held through Secure Metals Pty Ltd (Australia) which has been created specifically for the GLBSE Asset Backed Securities - GOLD, SILVER, PLATINUM and RAREEARTH. Storage account verification information is available if you request.Currently in Allocated Storage
Location: Sydney, Australia
Gold Troy Ounces: 27.0000 Oz
Brands: ABC Bullion 1 Oz Gold Bars, 999.9 Fine
Perth Mint 1 Oz Gold Nugget Coins, 999.9 Fine
http://en.wikipedia.org/wiki/Gold (Au)Terms:The GOLD Asset issuers reserve the right to buy back GOLD Asset at 103% of the 7 day average trading price on GLBSE.
The GOLD Asset issuers reserve the right to change the GOLD Asset paying percentage with 1 weeks notice to GOLD Asset holders.
The GOLD Asset issuers reserve the right to increase the physical gold bullion held in storage, and release more GOLD Assets.
The GOLD Asset issuers reserve the right to decrease the physical gold bullion held in storage and buy back GOLD Asset as required.
The GOLD Asset issuers will strive to maintain sufficient gold bullion to fully back the issue price of GOLD assets.
Should the GOLD/BTC Ratio decrease significantly for any reason, the GOLD asset issuers reserve the right to temporarily supplement GOLD Asset security with BTC.
How is the Capital Raised being used?All BTC capital raised through this issue is being invested in BTC denominated investments, it is NOT being invested in physical gold. After interest payments to investors a portion of the BTC profits I generate go into purchasing more physical gold metal. New metal purchased will be added to storage for each respective Asset Backed Security (GOLD, SILVER, PLATINUM & RAREEARTH)
Can I cash out into Physical Metal?Yes. But not directly from our storage accounts. The most efficient way to cash out into physical is I buy back whichever amount of your GOLD security you wish to convert, and I pay it either directly to you, or if I have a deal I can pass on at a bullion dealer that accepts BTC (such as Coinabul), then I can send your buy back payment direct. Please allow up to 3 days for me to process any request - if I am online I will do it asap. If preferable to you I can send your buy back payment direct to you, you can convert your BTC to the fiat currency of your choice and purchase direct from your preferred dealer.
Bitcoin/Precious Metal InvestorsFor bitcoin investors with a longer term view towards precious metals, this is a good way to generate income from your capital and leverage BTC price movements when the rates and prices are conducive. I support this! When the time comes I will likely be doing some of the same. I am keeping a healthy reserve of BTC specifically for the purpose of buying back GOLD assets at short notice (minimum 1 to 1).
Buy BacksI am maintaining Buy orders for GOLD at 0.009 and 0.0095 to add liquidity for small investors who for whatever reason need or want to sell. Anyone with 10.00 BTC or more worth of GOLD assets who wishes to sell can contact me, I will buy back GOLD at face value shortly after each weekly interest payment.
