Monetary Metals Raises $1.3 million to Deliver Yield on Prec
SCOTTSDALE, Ariz., Sept. 8, 2020 /PRNewswire/ -- Monetary Metals® announces the close of its $1.3 million equity capital round, having raised over $3 million to date. Monetary Metals operates a transparent marketplace where savers earn interest on their gold, while gold-using businesses obtain user-friendly financing. The new capital enables Monetary Metals to expand their market reach and continue their mission of Unlocking the Productivity of Gold®.
"It's a great time to grow this business," said Keith Weiner, CEO of Monetary Metals. "Investors need yield, and gold-using businesses need financing. Banks are not serving either customer well," he added.
"Monetary Metals has put together a very attractive lease program to help my company further expand the breadth and depth of our silver offerings—and at rates that beat most banks. Sadly, it seems most banks don't yet grasp the high-quality nature of the inventory which precious metals dealers hold, so it is a real pleasure to do more business with those who do," said Stefan Gleason, president of Idaho-based Money Metals Exchange.
In a financial environment with exponentially-rising U.S. debt, the prospect of inflation, and the lowest interest rates in recorded history, Monetary Metals' mission appeals to both their growing client base, and the high net worth investors who support the company.
"Monetary Metals has delivered from the start. I began as a client in 2017, and I'm now an equity investor in the company. In addition to paying interest on my physical gold and silver holdings, Monetary Metals is answering the greatest challenge investors face today - how to earn a positive yield in a rapidly deteriorating financial system," said Jim Brown, a member of the Board of Directors. "With the interest rate on paper currencies collapsing to nearly zero in recent years, offering interest on gold brings it out of the vault and puts it to work in our economy."
Until 2016, people had not been able to earn interest on their gold since 1933. Worse, they usually pay to vault it. Monetary Metals clients never pay storage costs.
Companies that work with gold have long turned to banks for financing, but the bank model is complex and subject to growing compliance costs. As a result, the banks have been pulling back. When the upcoming Basel III regulations take effect in January 2021, banking costs – and the price of their financing – will likely increase further.
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, Simplified™ to gold-using businesses (minters, miners, refiners, jewelers, dealer, pawn brokers, etc). In addition, Monetary Metals' market analysis and proprietary charts, including the gold forward rate, are followed by gold investors and gold-using businesses. The company's content is widely syndicated on gold, alternative investing, and mainstream sites.
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SOURCE Monetary Metals