Verification and Storage

Laboratory Testing Procedures

Ensuring the authenticity and purity of gold is paramount. Here's how the laboratory testing process works:

1. Selecting an Accredited Laboratory

   • Approved Partners: Use one of GoldEx's accredited laboratory partners for consistency and trust.

   • Scheduling: Arrange a testing appointment through the platform or directly with the laboratory.

2. Gold Submission for Testing

   • Secure Transport: Ensure the gold is securely transported to the laboratory.

   • Documentation: Provide all necessary documents to the laboratory, including proof of ownership and previous assay reports.

3. Testing Process

   • Physical Inspection: The laboratory will conduct a physical examination of the gold.

   • Assay Testing: Methods such as fire assay, X-ray fluorescence (XRF), or other industry-standard techniques are used to determine purity.

   • Verification of Weight: The gold is weighed using calibrated scales for accuracy.

4. Receiving the Assay Report

   • Detailed Results: The report will detail the gold's purity, weight, and any other relevant findings.

   • Certification: The report is certified by the laboratory and is considered official documentation.

5. Uploading the Assay Report

   • Digital Copy: Receive a digital copy of the assay report.

   • Upload to GoldEx: Add the report to your listing to provide buyers with verification of the gold's authenticity.

Benefits of Laboratory Testing:

• Builds Trust: Buyers are more likely to engage with listings that have verified assay reports.

• Ensures Fair Pricing: Accurate purity measurements allow for appropriate pricing.

• Compliance: Meets regulatory requirements for gold transactions.

Bank Safe Deposit Boxes

Storing gold in a bank safe deposit box offers enhanced security and peace of mind. Here's how to arrange secure storage:

1. Choosing a Bank

   • Partner Banks: Use one of GoldEx's verified partner banks to ensure compliance and security.

   • Location Convenience: Select a bank that is conveniently located for both you and potential buyers.

2. Opening a Safe Deposit Box

   • Application: Complete the bank's application process for renting a safe deposit box.

   • Identification: Provide necessary identification and documentation as required by the bank.

   • Rental Agreement: Review and sign the rental agreement, noting terms and conditions.

3. Depositing the Gold

   • Secure Packaging: Ensure the gold is securely packaged and sealed.

   • Documentation: Accompany the gold with all relevant documents (e.g., assay reports, certificates).

   • Witnessed Storage: Arrange for the storage to be witnessed by a bank official and, if possible, an independent third party.

4. Obtaining Proof of Storage

   • Receipt: The bank will provide a receipt or certificate confirming the gold's storage.

   • Storage Details: Documentation will include the date of deposit, box number, and contents description.

5. Updating Your Listing

   • Proof of Storage: Upload copies of the storage receipt to your GoldEx listing.

   • Availability: Indicate that the gold is securely stored and ready for inspection or transfer.

6. Access Protocols

   • Access Permissions: Specify who is authorized to access the safe deposit box (e.g., only you, you and the buyer upon agreement).

   • Security Measures: Reassure buyers of the security measures in place at the bank.

Advantages of Bank Storage:

• Security: Banks offer high levels of security against theft or damage.

• Buyer Confidence: Knowing the gold is securely stored increases buyer trust.

• Ease of Transaction: Facilitates smoother inspections and transfers within a secure environment.