Being able to save in physical Gold and Silver on Monzo

I’ve been saving in gold and silver for a while now. And the reason is gold has maintained its purchasing power over time. Fiat currency, aka paper money has continuously eroded and lost purchasing power. If you hold gold you protect yourself from inflation year after year. Here’s and example of how much the £ has dropped in value. I’m 1999 £100 was worth £160.05 in 2017. So I was wandering if it would be possible for monzo to have a new feature where you can store you’re money in physical gold, and possibly even be able to spend your gold on the debit card. On Glint you can do just that and the gold is insured by Loyds. I thought if that was the case monzo could do the same?
It’s just an Idea I think could benefit everyone and make the bank even better than it already is.

You thought of Investing in a Gold ETF on Freetrade?

And if I can be cheeky, here’s my referal

edit: thanks whoever signed up :slight_smile:

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I really like the idea of being able to invest in things through Monzo - although I don’t think this will be a first party service, likely part of Monzo’s intended “marketplace” offering. Hopefully integration with Robinhood or Freetrade could be worked on and that would allow for investment through Monzo

Due to all the FCA regulations on that sorta stuff it could be a while before we see it (if ever) as they haven’t (at least I don’t recall) having seen any suggestion of this kinda thing.

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How do you generate a referral link?

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It’s currently in beta, I think it’s being rolled out very soon

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I’d imagine the sort of person who believes in “paper money continuously eroding” probably won’t be interested in holding paper gold.

The corollary of gold not suffering from inflation is that you also can’t realistically earn interest on it, which might be fine when interest rates are below inflation (like currently) but in general terms purchasing power of money saved in standard bank accounts has actually increased in purchasing power over the same period of 1999 to 2017.

On top of that money in savings accounts is actually being lent out to fuel economic growth by investing in businesses to increase productivity. Money invested in gold or silver is essentially dead.

It’s also worth remembering that gold is a volatile investment product. If you’d bought gold in April 1980 for instance you’d be currently sat on a fiat loss (before you even take into account 40 years of inflation).

Your best option for investing money to maintain purchasing power is to invest in a low-fee index-tracking fund. The returns from these over any decent period of time more than erases any losses in purchasing power and in fact delivers considerable returns.


Warren Buffett agrees with you

Personally I would invest through the royal mint and hold actual gold rather the paper variety(traditionally this why many culture value high purity gold jewelry). That being said my bond portfolio on Wisealpha seems to be doing well

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Oh no I’m not talking about paper gold. I’m talking about physical that’s held in a vault. Like I said on flint they have this. Your gold is held secure in a brinks vault, you can see how much you have and spend it via a debit card if you so wish. and if you wanted to you could have you physical gold sent to you. It’s much better to hold in a vault and pay insurance that way rather than hold it in your own home. For example if your house get burgled most home insurance won’t take into consideration if the price of gold has risen since you’ve insured it.

I would only ever use signature gold by the mint if I was going to that just as I trust them more.

I’m heavily into gold.

Shame I keep eating my profits…




Oh wow I’ve not had one of those for aaaaages! :drooling_face:

Guess I’m going to have to hunt for some in the supermarket tomorrow! :smiley:

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Hmmm… a gold and silver selling website singing the praises of gold and silver is hardly an independent view :grin: .

This Forbes article is a good read for those who feel gold isn’t a good bet.

[…] Unlike a bond, the metal [gold] pays no interest. There is no dividend. It may not protect you against the worst forms of inflation […]. And there is no implicit guarantee that it will appreciate in value.

I know this describes most investments. But at least if you invest in a basket of major stocks, although not guaranteed, you are likely to receive dividend payments. If you buy gold bullion or coins, this is not the case.

And I also acknowledge that investors are wary about paper currencies. Sure, they are based on the faith and credit of a government, but U.S. Treasuries Securities have never been defaulted upon in anyone’s lifetime. If that were to happen, the entire world financial system would collapse – and gold wouldn’t do you much good. […]

This is my main investment in gold…

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I never thought I would see an Attitude Era wrestling star promoting gold on the Monzo forums


If you want this, have a look at Dozens who offer the iShares Physical Gold ETC as one of their options.

I wouldn’t like to see it in Monzo as it’s not really their core competency.

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You can get the same stock in Freetrade without the Dozens fee.


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