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Crowne Gold

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crownegold

Crowne Gold (2533 N Carson St, Suite 5049, Carson City, NV 89706, tel. 1-775-841-3573 US only, 1-869-466-4977 International) allows its members to buy and sell gold based on market prices and receive the proceeds by check, bank wire, or have funds deposited to a linked debit card.

The service may be a subsidiary or owned by Megasol Technologies AB (Östra Ågatan 31, 753 22 Uppsala, Sweden, tel. +46 18 604930, fax +46 18 604931; and 217 Powerville Road, Boonton, New Jersey, 07005 USA, tel. +1 973 5410297, toll free +1 888 3676822, fax +1 973 5410297). In 2002 Crowne Gold was re-domiciled from Nevis, West Indies to the United States.

Crowne Gold allows to make and receive payments in gold to anyone, anywhere that has Internet access and an email address.

For storing gold bullions Crowne Gold contracts three vaults. All three are located within the United States and are accessible to external auditors. There were plans for 2003 to expand vaulting arrangements to other global jurisdictions.

Effective 4 March 2002, the 3PPay gold transfer payment system and 3PGold were merged into Crowne Gold.

Accounts

There are Personal and Corporate accounts available for free. While signing-up user should declare if she is gold broker or currency exchanger.

Personal account comes with three subaccounts — Escrow Account, Crowne Gold Account and Crowne Silver Account. Additional subaccounts, e.g. USD Account, can be also open later in frames of "main" account. Formerly Crowne Gold suggested two subaccounts: Crowne Gold itself (used to keep funds in) and Crowne Pay (used to transfer funds).

Every member account is tied to a unique email address, which acts as account "number" for public use (can be changed by account holder). Member's permanent account number is the user name she established when first opened account, but this should be kept confidential.

«Due to increased alarm regarding terrorism, international drug dealing, money laundering, and concerns over untaxed income, the US government has commenced scrutiny of a number of industries not formerly required to provide reporting on the sales activities of US persons. On February 3, 2002 new software programs were installed by Crowne Gold, which will generate 1099-B reports for all US Persons. The US 1099-B form is an Internal Revenue Service document designed to list total annual SALES made through the Crowne Gold system, (not purchases), so in order to determine profits or losses sustained on the annual SALE of gold and silver a separate profit analysis report will be provided to clients of the system.

All account holders, be they US persons or otherwise, will receive an annual profit or loss compilation based upon SALES and the purchase price actually paid for the gold or silver sold. Profit analysis is based on the accounting principal of "first in, first out."»

On March 3, 2005 Crowne Gold secured an international banking agreement with HSBC Panama for providing valuable service to global operations. As part of the compliancy, all clients must insure a correct physical mailing address (for the ActiveAccess tokens to be delivered), telephone and contact information. All data will be checked for accuracy and compliance. For Crowne Gold record will be needed additional verification of member's identity (personal or corporate) through faxing to service copies of some documents.

Interface

Account management (balance check, sending/receiving funds, changing profile, etc.) is available only through secure web interface. All sections of web site work correctly (no dead or wrong links). Interface language is English.

Availability

Crowne Gold holders are international in scope. Individuals and companies from all over the globe hold accounts at Crowne Gold.

Gold denomination

Member may denominate her gold payment in XAU, XAG, GBP, USD and EUR (formerly Grains, Grams, Troy Ounces, Islamic Dinars, Hindu Tolas, Chinese Taels, EUR and USD were available).

Storage fee

1% annually. The annual fee is divided into 12 parts and assessed monthly.

Transaction fee

Member transfers funds between her gold paying (former Crowne Pay) and gold holding (former Crowne Gold) accounts free of charge.
When member transfers funds to another member's account (somebody's email address) she pays:

for up to $400 spent	$2
for $400-$75000	$2 + 0.5%
for $75000-$250000	$377 + 0.25% of amounts from $75000
for more then $250000	$814.5 + 0.125%

Payee is not charged for receiving funds.

Physical gold delivery fees

Charges per ounce:

Gold Internet Dollar coin shipped within US: $35.00
Gold ten-ounce bars shipped within the US: $25.00
Gold Internet Dollar coin shipped outside US: $45.00
Gold ten-ounce bars shipped outside the US: $35.00 per

Shown above costs include:

Shipping and insurance to the mint from an accredited warehouse of one of the three world commodities markets
Refined purity upgrade from .995 to .9999
Fabrication costs charged by the mint for processing gold into medallions and small bars
Shipping, insurance and vaulting costs to a secure fulfillment center
Shipping and insurance costs from the fulfillment center to your desired final destination

Duty, custom, or import charges are the responsibility of the receiver.

Funding account

When buying gold to add to account following fee applies:

$1000-$50000 spending	5%
$51000-$250000 spending	4%
more then $250000 spending	3%

All transactions are by Bank Wire. Minimum amount of transaction is $1,000. Transactions larger than $50000 require source of funds disclosure.

Previously funding fee comprises $1 per every bought ounce (in addition to 5, 4 or 3%) and Crowne Gold suggested for gold purchases in an amount less than $1000 or not via bank wire, but via check, money order, or credit card to use recommended brokers.

Funds withdrawal

Member pays 0.5% service fee for payout via check, money order, or wire transfer. For wire transfer additional $35 are charged (plus bank service charges). For check delivery postal fees also apply.

Merchant tools

To accept Crowne Gold payments through web site a comprehensive manual is available for developing and including of correct OdysseyNet code (based on Megasol Technologies AB products).

Referral program

Crowne Gold pays qualified referrers 20% of the premium fee charged for gold purchases and 35% of the transfer transaction fees. To become an affiliate a member have to buy some gold, and then send an email to referral@crowne-gold.com advising her username and request.

***Debit card — Non-available any more

On member demand Crowne Gold as for December 2002 could order a debit card from a third-party financial institution. Debit card services were available to serious gold investors that maintain a minimum balance of $1500 in equivalent gold holdings at all times.
On ordering the card, the first year's annual fee of $150.00 was assessed. There was a $0.50 point of purchase fee and a monthly maintenance fee of $5. There was a $5 or the higher of 2% fee for cash withdrawals.