They only redeem whole units of what they hold, most of which is held in bullion bars (or so they'd have us believe) so you'd need serious quantities to get real gold from them. Bullion coins are probably easier bought from your local exchange.
The e-gold Account User Agreement specifies that:
"All e-metal in circulation shall be backed 100% at all
times with unencumbered metal in allocated storage".
To take physical delivery of metal from your account,
you will need to have an available balance of at least
the weight of the smallest individual item displayed in Examiner.
Taken from e-gold Account User Agreement:
3.3. Conditional Redemption
Issuer will redeem e-metal subject to these conditions:
3.3.1. Redemption medium – Issuer will redeem e-gold only with bullion already in inventory. If, for example, Issuer is holding only 400 oz gold bars, redemption demands specifying some other sort of gold bar will not be honored.
3.3.2. Threshold redemption quantity – Issuer reserves the right to specify a minimum quantity for redemption. This minimum is subject to change, with advance notice, at the sole discretion of Issuer. In no case will the minimum be less than the fine weight of the smallest bullion items held in storage.
3.3.3. Shipping/Handling and Premium – Issuer reserves the right to charge fees for shipping, handling and insurance incident to delivery in fulfillment of redemption orders. An additional charge will be assessed for redemption involving inventory items that command a market premium of value over their fine weight.
3.3.4. Right of Redemption – Except as provided in Section 4.6.1, will Issuer will not attempt to suspend or revoke User’s conditional right of Redemption.
A long time ago people used to keep gold at home as an investment, but I don't think anybody would do that know
Anyway I'm sure that e-gold is a clever company and they do back up the gold.
__________________
(\___/)
(='.'=) This is Bunny. Copy and paste Bunny into your
(")_.(") signature to help him gain world domination.
Anyone Ever Redeemed Gold From EGold?
Hybrid Mode
