Anyone use Goldmoney.com?

[chewchew]

I've been looking into buying some gold and these guys seem to give a much better buy rate than gold.ie.

I'm completely new to investing in anything so forgive my questions if they seem daft. Would my investment be safe there? If a bank goes belly up depositors are protected by a depositors guarantee, what would happen to my gold if these guys went under somehow?

 

[horusd]

No question is daft chewchew, everyone starts somewhere and nobody knows everything! There are extensive discussions on AAM about gold investment. It will be worth doing a search and reviewing these, particularly regarding the advisability of gold as an investment. Personally I have avoided it for now,although I might review that when markets are more stable. There are also extensive discussions on investment strategies that you might find useful too.

For example:
http://www.askaboutmoney.com/showthread.php?t=25194&highlight=buying+gold

http://www.askaboutmoney.com/showthread.php?t=104370&highlight=buying+gold

Regarding investment safety, I don't see reference to it on their website following a quick look-see. You should ask them for more info if you decide to take a punt.

 

[Chris]

I have been a customer with goldmoney for over 3 years now. I have found them easy to deal with and never really had a problem. There is information on the ownership rights of the gold here: [broken link removed]
The reason I chose them is their cost of doing business, ease of use, ability to make transfers to others in gold.

Before you buy gold you should realise that it isn't really an investment, but more a way of preserving wealth. A gold investment would be more down the lines of gold mining and/or minting.
Horusd has already pointed to some good threads here on AAM, and I would strongly recommend that you fully understand what you are doing before you separate with your money.