Frequently asked questions.

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General
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Invest
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Storage
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Logistics
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Pay
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Technical
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Legal

General

Troy Gold is a gold fintech company, founded in South Africa in 2018, that aims to make gold ownership convenient, easy and accessible to everyone.

Troy Gold’s mobile app, available on the iOS and Google Play stores, allows you to:

  • Buy physical Krugerrands (for South African customers) and investment-grade gold bullion bars (International customers) that are procured from certified LBMA-approved refineries.
  • Have your gold stored on your behalf with Troy and our world-leading, global logistics vaulting provider, Brinks Global.
  • Redeem your gold at any time and have it sent directly to your door by secure courier.
  • Upload your existing gold holdings to Troy for safe storage.
  • Borrow money against your gold by applying for a gold-collateralised loan from Troy.
  • Send gold directly to anyone on the Troy platform with the TroyPay function.
  1. Download the Troy Gold app by clicking the iOS or Play Store download button in our navigation bar of the www.troygold.app website, or search for ‘Troy Gold’ on the respective stores on your phone.
  2. Register your account in the Troy Gold app by following the easy registration prompts.
  3. Click the Buy Gold button on the home page screen within the app, and follow the prompts to buy gold – it’s that simple. 
  4. Need more info? Watch any of our tutorial videos by clicking here.

Note: After you reach a threshold gold ownership, you will also be prompted for a short Know Your Custome (KYC) process, whereby we request a copy of your ID or Passport and a Proof of Residence to be uploaded in the app.

Troy Gold offers two types of gold products, depending on your region.

1. For South African customers, Troy offers 1oz Krugerrand coins (refined by Rand Refinery).

2. For International customers, Troy offers 1 kilogram 99.99% refined gold bullion bars (refined by Metalor refinery).

All our customers’ gold holdings are fully allocated, meaning our users’ gold holdings are directly owned by them and securely stored and fully insured in a high-security precious metals vault in South Africa (Krugerrands) or Singapore (Metalor bars), with our vaulting provider, Brinks Global. .

When you purchase gold with Troy Gold, you enjoy direct legal ownership of the amount of gold purchased in specifically identified Krugerrands or bullion bars. 

Even if you purchase less than a full 1 oz Krugerrand or full 1kg bullion bar, you are allocated as a co-owner of that specifically identified bar or coin. This co-ownership model is similar to the concept of undivided shares in a propety’s title deed.

Administration of the Troy ownership register is managed by Troy Gold’s proprietary immutable ledger software. You will receive an ownership statement each month, indicating your ownership percentage and in which exact Krugerrands or bars your ownership vests.

You can either buy full 1 ounce Krugerrands (South African customers) or 1 kilogram gold bullion bars (International customers), or you have the flexibility to purchase any amount of a Krugerrand or bullion bar – there are no investment minimums.

When purchase less than a full Krugerrand or bar, you are buying co-ownership in specifically identified and serialised Krugerrands or bullion bars.

Our proprietary ledger technology allocates multiple owners to a specific coin or bar, which means you still enjoy direct legal ownership of your physical gold with full ownership rights.

At present, the Troy Gold platform is only open to South African residents who are able to purchase Krugerrands, securely vaulted in South Africa. 

In the near future, however, we will be opening the Troy Gold platform to international customers, who will be able to purchase gold bullion bars, securely vaulted in Singapore.

To close your account, firstly sell all your gold holdings present in your account.

Once the above transactions have been completed, please contact us on support@troygold.app to formally close your account.

Your address linked to your profile will be used as the delivery point for all your gold redemptions.

To change the address linked to your profile:

In the side menu:

  1. Tap the “Profile” icon;
  2. Within Profile, tap the “Address” icon;
  3. Enter your address;
  4. Press “Save”.

You will receive an e-mail from Troy Gold support to confirm your address change. 

Your bank account linked to your profile will be used to receive the proceeds from your gold sales.

To change the bank account linked to your profile:

  1. In the side menu, tap the “Profile” icon;
  2. Within Profile, tap the “Bank Account” icon;
  3. Enter your bank account details;
  4. Press “Save”.

You will receive an e-mail from Troy Gold support confirming the change to your banking details.

Buy & Sell

    1. Download the Troy Gold app by clicking the iOS or Play Store download button in our navigation bar of the www.troygold.app website, or search for ‘Troy Gold’ on the respective stores on your phone.
    2. Register your account in the Troy Gold app by following the easy registration prompts.
    3. Click the Buy Gold button on the home page screen within the app, and follow the prompts to buy gold – it’s that simple. 
    4. Need more info? Watch any of our tutorial videos by clicking here.

 

Note: After you reach a threshold gold ownership, you will also be prompted for a short Know Your Custome (KYC) process, whereby we request a copy of your ID or Passport and a Proof of Residence to be uploaded in the app.

There is no limit to how much gold you can purchase.

In the extremely rare cases, however, we may place a limit on gold purchases based on our stock of Krugerrands or bullion bars available for sale.

On the Troy Gold app, you can buy gold in any quantity – there are no investment minimums.

There is no fee for opening and maintaining an account with Troy Gold.

For our other fees, please refer to our Fees Schedule.

You can buy gold anytime, anywhere with Troy Gold! 

No market closures, and no trading hour restrictions. Troy Gold has 24/7 Live pricing in the app, linked to the live gold price.

The Krugerrand buy and sell prices displayed in the Troy app are live, 24/7 prices which are linked to the prevailing gold price, but accounts for a minting premium on Krugerrands.

The bullion bar buy and sell prices displayed in the Troy app are live, 24/7 prices which are linked to the prevailing gold price.

In both of the above instances, Troy is the counterparty and therefore you will see a spread between the buy and sell prices.

The displayed prices are live, 24/7 prices which are linked to the prevailing gold price at the time.

Troy Gold is the counterparty to all transactions, meaning that we buy and sell from all customers. 

Our margins are based on the spread between the buy and sell prices you will see within the Troy Gold app.

These margins will vary depending on the availability of stock and depth of demand at the time.

Troy Gold charges an annual storage and insurance fee for vaulting your gold holdings – calculated daily and charged monthly. 

There are also associated fees for when you redeem or upload your gold. 

For details, please refer to our Fees Schedule here.

The TroyPay function is absolutely FREE.

Troy Gold offers various payment methods, as follows:

  1. Bank Transfer/EFT
  2. Credit or Debit Card
  3. Instant EFT
  4. Debit Order

Troy Gold will do a bank transfer/EFT to your designated bank account. Depending on your bank, the funds could take up to 72 hours to reflect.

Depending on your banking institution, transfers may take up to 48 hours. Your purchase is credited as soon as your transfer reflects in our bank account.

You can withdraw funds to your bank account by selling some of your gold at any time.

Depending on your banking institution, it may take up to 48 hours for funds to appear in your bank account.

Your bank statement is required to verify your bank account as part of the KYC/registration process, in accordance with international monetary laundering regulations. You will only have to do this once and we try to make it as quick and easy as possible.

There is no separate withdrawal fee. 

 

Please refer to our Fees Schedule here.

There is no minimum withdrawal amount.

Storage

All our customers Krugerrands and Bullion Bars are stored with our global vaulting partner, Brinks Global, in either their South African or Singaporean precious metals vaults. These are the most secure vaults in the world, and Brinks is the largest vault operator in the world.

The gold is fully insured and jurisdictionally and geographically safe. There are no reporting requirements and these vaults are independent from the financial system – offering you anonymity and peace of find.

The security of your gold is our top priority. All customer gold holdings are fully insured against loss or theft by Lloyds of London via Brinks Global. As part of our commitment to safety, only Brinks has physical access to the gold – no Troy Gold employee can thus enter the vault or access the gold.

User gold holdings are audited every quarter by a top tier global auditing firm, Mazars, and this report is posted on our website as well as e-mailed to you -detailing the bars and coins in the vault.

Troy Gold simply acts as bailee for your gold. This means that you are the legal owner of the gold you own on the Troy Gold platform and we simply store and manage your gold for you.Therefore, if anything were to happen to Troy Gold, you will retain full ownership and have full access to your gold as it is your property.An appointed liquidator will be tasked to liquidated or redeem the gold according to the ownership register.

Logistics

You can redeem your gold at any time you wish, if you have ownership of a full 1oz Krugerrand or 1 kilogram bullion bar.

Simply tap “Redeem” in the Troy Gold app side bar and follow the instructions. Our team will then be in contact with you to verify your address particulars and make the necessary arrangements for delivery.

Gold is redeemed in full Krugerrands, that are denonimated in 1 ounces, or full kilogram gold bars, denominated in 1 kilogram bars. Gold redemptions can therefore only take place in whole numbers eg. 1, 2 , 3 ounces or bars etc

Once your Redeem request is submitted via the Troy Gold app, a member of our team will contact you to verify your address particulars and make the necessary arrangement for delivery.

Deliveries can take anything from 48 hours to a few days, depending on the location request.

Redemption fees are listed in the Fees Schedule

A gold upload is a Troy Gold service that we offer to South African citizens, whereby we will pick up your existing Krugerrands which you own outside the Troy Gold platform, and have it vaulted and securely stored for you. Your holdings are then accessible via the Troy Gold app.

This service will be available to international customers soon.

Please refer to our Fees Schedule here.

Troy Gold has contracts security third party logistics services for transport of the gold in secure armoured vehicle transport. Your gold holdings are fully insured at all times.

Once you’ve elected to upload your Krugerrands, one of our team members will contact you to arrange the details and schedule a time for collection.

Collection is done with secure armoured vehicle transport and your gold holdings are fully insured during transport.

Pay

TroyPay is Troy Gold’s gold-to-gold payments network.

By using TroyPay, you can do a gold-to-gold transfer by sending gold to anyone on the Troy Gold platform by simply using the beneficiary’s mobile number – you are transferring your ownership of that gold to the party you send the gold to.

No. The recipient of the gold will first have to download the Troy Gold app and register an account.

You can prompt them to do so by the Share function within the Troy Gold app.

No. TroyPay is a gold-to-gold transfer mechanism and therefore you can only send gold.

Sending of gold is only limited by the amount of gold you own on the Troy Gold platform

It is FREE to transfer gold using TroyPay.

Technical

Troy Gold is available on both Android and iOS platforms.

For iOS:

  1. Open the App Store
  2. Search “Troy Gold”
  3. Tap “Get”

For Android:

  1. Open the Google Play Store
  2. Search “Troy Gold”
  3. Tap “Install”

Troy Gold is available on both Android and iOS platforms.

For iOS:

Any iOS device running on iOS 10.0 or later with a minimum 150MB of storage

For Android:

Any Android device running on Android 5.0 or later with a minimum 150MB of storage

Please contact support@troygold.app of you experience any technical difficulties while using the Troy Gold app. 

Alternatively, you can live chat with technical support through the chat function in the app menu

Please contact us immediately on +27 (12) 943 5948 for international or (012) 943-5948 for South Africa, or e-mail support@troygold.app if your mobile phone has been lost/stolen. We will freeze your account until you are ready to access it from a different device.

When you elect to open an account and use the Troy Gold platform, you are agreeing to our Privacy Policy and Customer Agreement.

Troy Gold is a registered Krugerrand dealer with the South African Financial Intelligence Centre (FIC) and is currently registering with the Singaporean Ministry of Law and Monetary Authority of Singapore, as a registered precious metals dealer.