Foreword
The gold standard was a monetary anchor in many systems. Paper and coins, have been exchanged
several times at a certain weight in gold throughout history.
A gold standard requires discipline of governments and gives citizens power and freedom, because
money is always exchangeable for gold. Gold provides security, your assets are always available and
is a weapon against inflation.
At the beginning of the twentieth century all developed countries held on to the gold standard. There
was a stable international monetary system the world had never known. This system became under
pressure, with the outbreak of the First World War. Only at the end of World War II there was an
attempt to recreate a 'healthy' monetary system.
Former President Nixon decided in 1971 to put a stop to the convertibility of gold. Nixon's decision
marked the beginning of a long period of limitless money creation, of which the consequences are
still noticeable to this day.
Since the outbreak of the current crisis in 2007 nothing is what it seems. Even the former safest
harbour, government bonds, are no longer what they once were. An increasing group of people
question the current money. The fact that money is worth less does not mean that the value also
disappears. The value is moving towards another direction. Increasingly back to property with a
physical collateral value.
Gold Standard makes it her goal to provide her customers with physical property. Most important,
by offering physical gold and silver. You will be owner again of your physical assets.
We invite you personally to discuss your possibilities with Gold Standard.
Jaap Raijmans
Director Gold Standard
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Gold Standard
General Information
Gold Standard (Goudstandaard B.V.) is a private limited liability company under Dutch law, founded
on 11.07.2011. Gold Standard has its registered office in The Kwakel (KVK No 53931718) and her
office at Dreef 34, 2012 HS Haarlem, The Netherlands. Gold Standard is registered with the Financial
Markets Authority as a provider of investment objects with license number 12041098.
The management of Gold Standard is formed by Dutch Commodity Ventures B.V.:
Raymans, Jacob Jan Adriaan
Verhagen, Cornelis Hermanus
Gold Standard has made agreements with the following parties in order to offer its services:
Gold Standard Trust Account
Gold Standard Trust Account manages the payments made by the customers of Gold Standard. Gold
Standard Trust Account has its registered office in Amsterdam (KVK No 54682665) and its office at
Over de Leij 8, Schermerhorn, The Netherlands.The board of the foundation is formed by René
Dekker and Cees Leijs.
Custodian
The storage of physical gold and silver in the Netherlands has been outsourced to Group4 Securicor
(G4S).
The storage of physical gold and silver abroad is outsourced to VIAMAT International, with locations
in Germany and Switzerland.
Suppliers
To guarantee the quality of the gold and silver, Gold Standard only buys its gold and silver with well
known suppliers, so the authenticity and quality of the gold or silver can be guaranteed.
All products have a ‘good delivery status’, a certificate of authenticity or guarantee stamp.
Organisation Chart
Dutch Commodity Ventures B.V.
Board:
Jaap Raymans
Herman Verhagen
Gold Standard Trust Account
Board:
Rene Dekker
Cees Leijs
Gold Standard (Goudstandaard B.V.)
Board:
Dutch Commodity Ventures B.V.
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Features investing in physical bullion at Gold Standard
Physical gold and silver
Gold and silver have been in a rising market for eleven years now. Most part of the current bull
market has been, however, unnoticed. Only for the last 4 years there is an increasing interest for
alternative investments. Gold and silver are therefore increasingly becoming part of the investment
portfolio.
Although gold is close to historical records, the demand for gold remains strong. Constant inflation
and global economic turmoil are important reasons for this. Countries like China, Russia and India
continue to complement their gold reserves even at current price levels.
In recent years several products have appeared with which you were able to benefit from the
upward movement in the gold and silver market. Turbos, ETFs or even products with only a portion
of a physical gold and / or silver bar possession, do not directly give you the physical metal you're
interested in. Gold Standard has made it her main goal to provide her clients with the physical
possession of precious metals.
Direct delivery
An investment in physical gold and silver can not be more tangible than if you buy gold or silver and
get it delivered to you directly. You can choose to have your order sent to you, fully insured. Gold
Standard can deliver your order worldwide. Within the Netherlands and Belgium there is also the
possibility to deliver gold and silver by a private driver. We deliver at the time and location you
prefer.
Storage with 100% allocation
In addition to direct physical delivery Gold Standard offers you the opportunity for insured and
secured storage. For the storage of these products within the Netherlands we work together with
our storage partner G4S. This company is specialized in the storage of precious metals.
Gold Standard also offers the possibility to store your gold and silver outside the Netherlands, in
Germany and Switzerland.
Storage at our store partner(s)
When you buy physical gold and silver at Gold Standard you can specify that this must be stored for
you. Gold Standard will handle all communication for you will her storage partners.
At the time that your purchase is ready for storage Gold Standard will make the storage contract that
contains all relevant details about the storage of your physical property.
What if something happens to Gold Standard or the storage partner? Gold Standard shall keep a
record that at shows whose bullion is stored in which location any time of day. Your products are in
Dutch storage with unique sealbag numbers. These specific marks are also mentioned in your
storage agreement. Because your products are 100% allocated any failure of a storage partner will
not affect your physical property. Creditors can never be entitled to your physical property.
Gold Standard Trust Account also administrates the most current list of storage.
Storage abroad
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Gold Standard offers you the possibily to store your gold and silver abroad. Next to the Netherlands,
there are storage locations in Germany and Switzerland. In the future, Canada may also be one of the
possible storage locations.
Gold Standard provides you with a storage agreement that specifies your physical property. This is
administered by our storage partner, Gold Standard and Gold Standard Trus Account.
Abroad the silver coins can be allocated by 500 pieces and the VAT-free silver can be provided with a
unique productnumber, upon request.
Quality
Gold Standard provides only well known gold and silver coins and bullion.
Gold Bars
Only gold bars a percentage of 999.9 (24 carat) will be offered. Also, all gold bars come from LBMA
certified producers and meet with the so-called good delivery status. It depends on the producers if
the bars have a supplementary certificate.
Silver Bars
The silver bars are at all times good delivery bars from LBMA certified producers. Silver Bars have no
further paper certificate. The weight and purity is mentioned on the bar itself. The minimum content
of these silver bars is 99.9%.
Silver coins
Gold Standard offers well known coins for storage. Most of these coins will come from the Austrian
Mint or the Royal Canadian Mint. This relates respectively to the Vienna Philharmonic and the Maple
Leaf bullion coins. These have a purity of at least 999.9. On request also other coins can be
purchased.
Gold Coins
The gold coins come from the Austrian and Canadian Mint; the Vienna Philharmonic and the Maple
Leaf. Both with a purity of 999.9. In addition to the Maple Leaf and the Philharmonic, the South
African Krugerrand is also offered. This coin has a fineness of 916.7/1000. On request also other coins
can be purchased.
Buyback Guarantee
Gold Standard guarantees her clients to buy back the bullion as previously bought and stored
through Gold Standard. Because the gold and/or silver has not left the vault in this case, Gold
Standard does not have to check again for the quality.
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If you have sold (a part of) your precious metal back to Gold Standard, Gold Standard will take it out
of the safe on your behalf. Immediately after this Gold Standard will transfer the agreed amount to
your bank account.
Negotiability
Because you are the owner of your physical gold or silver, you have the freedom to choose to whom
you sell your gold and silver to. You can always have your gold and silver immediately delivered.
Gold Standard is also always available as counterparty given the previously appointed buyback
guarantee.
Trading Hours
You can reach Gold Standard on weekdays from 09:00 to 20:00. During that period, you can always
inform yourself about purchase or sale prices.
Direct physical due
When your gold and / or silver is stored with BRINKS or VIAMAT, you can always specify that you
want to get your precious metal out of storage. This will cost you € 35, -, and the costs of insured
shipping.
In case of VAT free silver, the customsfee and VAT need to be paid before we can deliver your
product.
VAT on silver
Gold Standard offers both silver coins and bars. The silver coins are the most interesting for private
investors who want purchase physical bullion. The silver coins are traded under the so-called margin
regulations. This means you only pay 19% VAT on the margin of gold standard. On silver bars you pay
19% VAT on the total value. A significant difference. So as an individual silver coins are the most
interesting product. Business customers can deduct the VAT of course.
VAT free silver
Gold Standard offers investors the opportunity to buy silver bars tax free. By storing your silver bars
in a Customs warehouse in Switzerland you do not have to pay VAT on your purchase. For private
investors to purchase tax-free silver is one of the best ways to invest in physical silver. Your bars are
safely stored and insured at VIAMAT International in Switzerland. Within the storage of VIAMAT Gold
Standard guarantees a repurchase guarantee.
Gold Standard Trust Account
When you do your purchase at Gold Standard, of course it needs to be paid. To ensure that your
funds will be used only for the agreed amount of precious metal, Gold Standard uses a Trust Account.
Only when your purchase is delivered to you or put into storage on your behalf, the amount paid by
you is transferred from the Trust Account to Gold Standard. Until that moment the money remains
your property.
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Stock
Gold Standard has access to a private trading stock. This makes it possible - in most cases – for your
order to be delivered or to be stored immediately upon receipt of payment. However, it may occur
that the stock of Gold Standard is too limited to deliver your order immediately. You will be informed
about this by Gold Standard.
Schematic purchase, sale and storage of gold and silver
Schematic purchase and storage gold and silver
Gold Standard
Trust Account
Payment after confirmation
delivery/ storage
Gold Standard
Payment
Purchase
Purchase
order
Payment
Order for delivery or
storage
Customer
Supplier
Delivery
Storage/logistics
Ownership
Schematic overview sale gold and silver from storage
Order sell
Gold Standard
Payment
Supplier
Payment
Order sell
Release to stock
GS
Customer
Delivery
Storage
Risk of investing in physical gold and silver
An investment in physical gold or silver at Gold Standard provides opportunities for high returns but
like any other investment involves risks. It is important that you understand the characteristics and
risks of investing in physical gold or silver, before taking any investment decision. You also need to
weigh carefully whether an investment in physical gold or silver is suitable for you given your
experience, investment horizon, other investments, financial situation, risk tolerance and other
relevant circumstances. We recommend you to be advised by an (investment) adviser. The following
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sections will give an indication of the risks that are relevant in light of the consequences and
probability.
Price risk
The price of gold and silver depends on movements in the market. The value of the precious metal
may therefore fluctuate and thus fall below the price at which you purchased. In case this value
drops to zero and you decide to sell at that moment, the full value of your investment can be lost.
Currency Risk
The value of bullion is worldwide expressed and traded in U.S. dollars. Because your bullion
purchases are in euros, the value of your investment is influenced by currency effects. An increase of
the U.S. dollar with respect to the euro has a positive effect, while a decline has negative effects on
the value.
Commercial Interruption
Due to special circumstances it may happen that no trade is possible, so there are no options to buy
or sell bullion with Gold Standard.
The systems of Gold Standard may be temporarily unavailable, so you might not be able to make a
transaction at the desired moment. However, you will always have the choice to offer or buy your
precious metals to other companies. So a commercial interruption at Gold Standard does not
automatically lead to any interruptions for you.
Counterparty Risks
Gold Standard is counterparty in the process of buying and selling physical gold and silver. There is a
risk that a party fails to meet its obligations. In case of buying, this could mean you have paid the full
amount to Gold Standard Trust Account but the purchase is not delivered to you or taken into
storage yet. In case of selling this could mean that the bullion has already left the storage facility but
you did not receive your payment yet.
If purchased goods are in stock at Gold Standard, this means that the products - immediately after
payment – are ready to put into storage. You will then receive the agreement with details from Gold
Standard. When goods are not immediately available longer delivery times may occur and
counterparty risk increases. When selling to Gold Standard, Gold Standard pays you directly after you
have come to an agreement and the goods were already stored at one of the storage locations.
Operational risk
This is the risk that a failure in the functioning of the procedures of Gold Standard, errors are not
noticed or even fraud may occur. Gold Standard seeks to remedy this by a proper segregation of
duties, a well-described administrative organization and supervision of compliance with the agreed
procedures.
Identity Theft
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If your password is not kept secret and falls into the hands of a third party, you may have the risk of a
third party accessing your account. These third parties can proceed to perform additional online
purchase transactions. Gold Standard will be in contact with you, with the presumption of identity
theft, before the final online order will be implemented. Gold Standard can not prevent unintended
transactions resulting from identity theft.
It is not possible that someone with access to your account can take your physical bullion out of
storage. This must be ordered by you personally and the precious metals can only be handed over
after presentation and check of a valid identification.
Insurance Exclusions
GS is responsible for providing adequate insurance for your precious metals against theft and
damage. Every insurance has exclusions. A complete overview of the coverage and exclusions of the
insurance policies can be found in the general terms and conditions on www.goudstandaard.com.
Termination Gold Standard
In exceptional circumstances, Gold Standard is entitled, or may be forced to terminate its activities.
This situation may occur if Gold Standard is no longer able to cover the possible risks related to
buying and selling physical bullion sufficiently, if the Custodian stops her services and no suitable
replacement can be found, if Gold Standard will be declared bankrupt, et cetera.
Legislation
There may be changes in the applicable legislation, government measures are promulgated or new
interpretations of the supervisor on investments are published that may affect the operation of Gold
Standard and among other things can lead to an increase in the rates for buying and selling
transactions through Gold Standard
Investment Costs
To clarify the costs, this example is based on a purchase from Gold Standard of 500 grams of gold in
combination with storage at BRINKS. This 500 grams gold bar will be sold back to Gold Standard after
a period of 5 years. It assumes an annual increase of 7%. In the past 15 years, the average annual
yield of gold was 14%. All costs include VAT.
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Investment
Year 0
Gold Value 500 grams
Value investment
Year 1
€ 20,000
Spread
Storage costst
Transcation costs
€
280
€
35
Total costs
€
Year 2
€ 21,400
€ 20,900
Year 3
€ 22,898
€ 22,201
Year 4
€ 24,501
€ 23,592
€
185 €
198 €
212 €
315 €
500 €
697 €
909 €
Year 5
€ 26,216
€ 25,081
€ 28,051
€ 26,078
€
226 €
€
561
242
35
1,135 € 1,973
Transaction
For the purchase of 500 grams of gold you pay under standard conditions 1.4% premium over the
current spot price. This premium includes the cost of production. When you sell your gold back to the
Gold Standard deducts 2% of the spot price.
For 500 grams Gold Standard uses a standard spread (difference between buying and selling) of
3.4%. Depending on your purchase price and market conditions this spread can vary. The additional
transaction costs are € 35, - per transaction.
Storage Costs
GS charges you an annual fee of 0.75% on the insured value of your gold and 1% on the value of your
silver in storage. These fees are VAT exempt. For the entry and removal of the bullion GS charges you
€ 35, - fee. This fees include fully protected and insured storage. Besides the cost of storage and
insurance, also the annual recurring costs of supervision by the AFM, legal fees, office expenses and
administrative costs are included. GS invoices quarterly, over the period that your precious metal
were actually located in our storage facility. The premium for storage is calculated on the highest
value of your metal in the preceding quarter.
Fiscal
The value of your investment at Gold Standard is indicated in tax Box 3 of your income tax (under
Dutch law). Effectively, you pay 1.2% income tax on the inserted value. Both your personal situation
and changes in the tax rules and the interpretation of these rules may have a positive or negative
influence on the specific personal tax position. Gold Standard recommends for tax consequences of
investing in physical gold or silver contact with a tax advisor or the IRS.
Applicability Conditions of Gold Standard
The General Terms and Conditions apply to all services of Gold Standard, as well as all offers relating
to those services. Also, the General Terms and Conditions of third parties which Gold Standard works
with, can apply. The General Terms and Conditions of GS include the main conditions relating to
storage.
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The Gold Standard Trust Account acts as the entity that receives money from customers for the
purchase of precious metals at Gold Standard. Gold Standard Trust Account is a foundation and is
mentioned in the General terms and Conditions as ‘SDG’. SDG is registered at the Chamber of
Commerce Amsterdam under number 54682665.
The General Terms and Conditions also apply to all services of SDG, and on all offers regarding those
services. The General Terms and Conditions, which are always provided when entering a relationship
with Gold Standard, are registered at the Chamber of Commerce in Amsterdam under number
53931718 and can also be found on the website of the Gold Standard.
Additions and / or deviations from these General Conditions are valid only if expressly agreed in
writing.
Your terms and conditions are expressly rejected.
This English version will be just a translation of the Dutch version, and can therefore only be used as
a translation alongside the Dutch version. In case of differences the Dutch version shall prevail.
Changes in General Terms and Conditions Gold Standard
Gold Standard is entitled to change the General Terms and Conditions. This is subject to the
conditions below.
In case of any change to the general Terms and Conditions, Gold standard will always make an
announcement at least one month in advance, through its website and a message sent to her clients.
During the period between publication and effective date (no later than the day before the effective
date) of the mentioned change(s) you are entitled to end the relationship with Gold Standard with
immediate effect, considering the conditions as agreed at that time. As the relationship with Gold
Standard relates to whether or not you can make transactions, you simply can decide to do any
further purchases or sales of your precious metal with another company. You can also specify you do
not whish to receive any emails related to (product) development from Gold Standard in the future.
If you do not terminate the relationship, you are deemed to have agreed with the modified General
Terms and Conditions.
The content of this prospectus is not adjusted to not Dutch counties (for example "storage in BRINKS
and "storage abroad" or "VAT issue")
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