All the physical gold held by our clients is 100% secured from default. Glint’s gold current account enables clients to own fractions of a bar of physical gold, held in an independent vault in Zurich, which is allocated and legally owned by them.

Client monies held in their domestic or foreign currency accounts at Lloyds could potentially be exposed in the event of default by the bank, albeit Lloyds makes a 100% liquidity provision for these funds on a daily basis. Our business model enables clients to move funds into physical gold swiftly and seamlessly where they would be guaranteed protected.

Do you physically add and remove gold from the vault as the total owned by your clients changes? There must be some lag in the purchase/sale?

Hi Dave.

That is a good question and I have no real idea how the actual buying and selling gold works with their system would be a good question to ask them they are always asking for feedback.

You are talking about something completely unrelated to the concern I expressed in my post which confirms my worries about the lack of understanding about how digital gold products work.

You say that “All the physical gold held by our clients is 100% secured from default”. But have you asked if their gold reserves cover 100% of clients fiat cash gold purchases? Sure, their cash in Lloyds accounts is ring fenced, but again, are their cash holdings covering 100% of the value of purchased gold?

The issue is simple: Glint users buy gold to the value of, say, 100 million pounds through the app. Now, is the equivalent of 100 million pounds in gold stored in independent vault in Zurich? Is it being updated daily, weekly or monthly according to, hopefully, growing purchases from Glint users? If next month the total value of gold purchased through Glint grows to 110 million pounds, is the extra value in gold added to their Zurich vault?

I assume that their gold reserves cover maximum 20% of what their investor bought through Glint. I wouldn’t be surprised if it is significantly less than that. The best idea would be if you ask them or if they reply to that question here or through their social media channels.

Why does it matter? If there is a sudden event resulting in the loss of confidence in the company and significant number of users request their gold, there will not be enough gold for everyone. It happened on many occasions in the past and will probably happen again as gold attract investors who have very little trust in banking sector and existing financial structures but at the same time are happy to trust gold storing companies for some odd reason.

1 Like

There’s no real need for assumptions or to explore technical questions here because the best place to currently ask questions is in Crowdcube. I’d suggest people take advantage of the next 10 days:

P.S. A good listen below for anyone interested:

1 Like

It is interesting though that you need to jump hoops to attempt get the answer to the most pressing question every gold investor should be asking:

Is 100% of the physical gold purchased through the company stored in vaults?

The fact that I am unable to get straightforward answer to this question means I will not consider investing with Glint. The concerns I raised in my previous post stand as I explained the risk associated with investing in gold.

If you could direct me to any official release about the actual level of their physical gold reserves, I would be thankful.

In short, the answer to your question is yes.

For confirmation, DYOR, check out their website FAQs or even better just ask the founders in the Crowdcube discussion:

It’s rare to get same day or next day responses from a founder so I don’t see why you’re reluctant to do this as opposed to asking novices on Monzo for reassurance. All the info you need is out there; nobody is hoop jumping.

1 Like

Sorry but the information in your link does not explain the issue I have raised.

Please copy and paste the relevant information as it is either not there or I can’t find it. :pray::pray:

From their website on the issue of Security (emphasis are mine):

*** Authorised and regulated by the Financial Conduct Authority.**
*** Client money held in segregated & safeguarded accounts at a Tier-1 bank.**
*** Allocated physical gold held in a secure, insured and independent Brinks vault in Switzerland.**
*** Glint is audited by KPMG.**
*** Bank level security.**

It is a common practice that gold storing companies and the likes operate on the fractional reserve. As you can see, they use the word “allocated” which I believe is intentionally vague.

Any gold bug is fully aware of the issues such companies faced throughout the history of gold investing. If Glint was somehow different and their levels of gold allocation were 100%, gold investors would be ecstatic! The fact that the company is regulated by FCA and audited by KPMG (I can’t help but laugh here :rofl::rofl:) does not mean it runs on 100% physical gold reserve system.

Not a big problem if gold investors are aware of the risks but many gold lovers are the elderly people and tend not to ask this one, crucial question. If they are informed about the actual level of gold reserves and difficulties they might face when requesting their bullion and bars in certain circumstances, then it is fine by me.

I gave you the link to their Crowdcube campaign so you could ask the founders directly your question. I’m not going to link you anything else because I’m not your researcher, hence Do Your Own Research (DYOR).

PS. I didn’t read anything beyond the above quote.

1 Like

It is puzzling that when I asked very important question

your answer was

However, you are unable to provide any source to validate your answer and when I pointed out that the linked website doesn’t contain this information, your reply was

I am not asking you to be my researcher. I can do it myself and based on your answers, I believe I can do it better.

I am not here to persuade you. You are already persuaded, it seems.

I just want to highlight the risk involved in gold investments to the unaware. :innocent:

1 Like

Now you’re just twisting my words and the whole narrative of this dialogue. Have a good day @Caanan, but I don’t come on Monzo to entertain trolls or the unreasonable.

1 Like

Troll? Definitely not. The unreasonable? Only in your eyes. Take care.:wave:

To other investors:

Keep asking questions. It might save you the disappointment in the future. :ok_hand:


What kind of guarantees are in place?

"The gold is held in Brink’s in Zurich, Switzerland and it’s 100% guaranteed by Lloyds of London and Brink’s – the latter has custodial insurance with Lloyds.

"If the company were ever to lose a bar, it’d be out of business. That pertains to the agreement we have with our bar list – call it $50 million, as an example. We would have a client list that adds up to $50 million in gold that matches that list.

“As part of our legal structure, we confer all property rights to the individual so that in the event of our default, the gold is still legally owned by you.”


Still, no answer to the most important question:

Keep asking folks. It matters.

Probably best to ask Glint though and read their literature rather than expect answers from someone who uses them on an unrelated forum


It is very interesting that gold storing, paper gold, and digital gold companies will avoid adressing this one question at all cost.

I don’t expect the answer from some users on this thread, especially those who post semi-promotional stuff about Glint. It is not only about Glint, it is about all similar companies.

Hopefully, someone who reads this thread, pause for a second, and decides to research a bit more and start asking appropriate questions.

It will be great if they come back at some point and share it with us.:grinning:

@Caanan if you’d have invested the same amount of time DYORing instead of looking for conflict in this thread, you’d have found your answer by now.

Here’s the link to Glint’s FAQs - which really should have been your first point of call - which I believe answers your pressing allocation question in a manner satisfactory to you:

1 Like

In your last posts you have suggested that I am a troll, the unreasonable and look for conflict. I have only expressed my reservations about Glint and hopefully highlighted some questions not answered by Glint. I believe this might help some gold investors. I have nothing else to add here.

The questions are answered/answerable by Glint, but you were reluctant to seek them yourself. No worries.

I think it’s fair to say that Glint aren’t likely to answer your questions on a Monzo forum so repeating them further probably isn’t going to get any of us any new knowledge.