Questions about Gold Claim

Posted: Tue Sep 19, 2006 3:03 pm

Probably the one program that is a little difficult to understand. But it comes easily once you have actually completed (1) cycle.

Post your questions here.

Posted: Tue Sep 19, 2006 3:03 pm

The owners of Gold Claim are firm believers in the value of physical gold, and through the program they offer investors like you and I to gain physical gold in the form of sovereigns and bullion (depending on stock availibility) at a discounted rate.

This is a program that requires an invitation, and allows a new investor 30 days to browse and decide whether this program is what they are looking for.

All currencies have lost value in the past with no exceptions PERIOD. The value of gold may have fluctuations, even drastic ones, but it has only increased in value decade on decade.

They have (3) levels of participation:
a. (1) unit with a term of 100 days.
b. (10) units with a term of 500 days, with payments every 100 days, and
c. (25) units with a term of 500 days, with payments every 100 days

Each purchased unit has a fixed fiat value.

Program (a) returns 33% in 100 days. Half of these funds are returned to your account for withdrawal or re-investment. The other half must be used to purchase GOLD!!

Program (b) returns 33% of the capital every 100 days which must be used to purchase GOLD, for a total of 165%. At the end of the term, i.e., 500 days, you receive your entire capital back.
Please note that program (b) has a small non-refundable set up fee of $ 50 per entry which is not included in the investment amount.

Program (c) returns 33% of the capital every 100 days - 60% of which is for the purchase of GOLD and 40% can either be withdrawn or reinvested.
This gives you the following totals:
100% of the capital which is used to purchase GOLD
66.66% of the capital over the 500 days which you can withdraw or reinvest.
100% of the capital at the end of 500 days for withdrawal or reinvestment.
The non-refundable setup fee is $ 250 for this program which is not included in the investment amount.

Levaz

EDITED: The original entry is below.

Quote:

There are (3) investment lines, all of which work the same way, just with different amounts, and vastly greater returns for the higher amounts.

Basic program outlay is that you purchase a claim for $ 75. After 100 days, you receive $100 (133%).
$50 is sent to you "holding" account where you can either withdraw the money or add a little more and repeat the process. The other $ 50 is sent to your "gold" account, which you can use to purchase eLD or gold sovereigns for 50% off. $25 is your capital + $25 interest paid.

Now ask your questions.

Investor Joined: 21 Sep 2006 Posts: 160

I saw that one several times in my good program hunt, but never search into details as sending gold coins to Europe would be too expensive between the mail and the taxes. And as for the eLD, not sure of a sue for that one lol

Do you saw happy European customers with that one Levaz?

Posted: Mon Nov 27, 2006 1:09 pm

Gray Eminence wrote:

I saw that one several times in my good program hunt, but never search into details as sending gold coins to Europe would be too expensive between the mail and the taxes. And as for the eLD, not sure of a sue for that one lol

Do you saw happy European customers with that one Levaz?

eLD was dropped almost as soon as it was listed as an option. The admins of GC had spend quite some time to approve this option because many members were asking for a cheaper option, which was ideal with eLD. This option was available for a couple of months and removed.

Right now, they only have sovereigns.

The shipping cost is fixed, so it does not get any more expensive to ship to N.America or Europe. I believe that there are many from Europe that prefer to collect gold as opposed to fiat money. They have even successfully shipped to Russia!!

Also, I believe that the coins are shipped from Europe to begin with!

Levaz

Investor Joined: 21 Sep 2006 Posts: 160

Thanks, I will review it again so.

I was remembering some people scared by the custom taxes on Gold Coins, which would kill the initial savings.

Posted: Mon Nov 27, 2006 3:10 pm

Gray Eminence wrote:

Thanks, I will review it again so.

I was remembering some people scared by the custom taxes on Gold Coins, which would kill the initial savings.

I must agree that customs duties and tariffs would be the biggest problem with the program. But I have seen many reports that small orders of single or a few coins get through most of the time.

Levaz

Investor Joined: 25 Sep 2006 Posts: 194

Everything is ok with GC?

I see their Admin in the forum is not answering, their deliveries are "forever pending" (me too) and 20 days ago GC Admin was even sending other kind of coins (that definitely would be not welcome!), without giving big alternative options to the members.

I found in a thread in GC forum a link to a site where sovereigns are available, even at a better price than GC.
http://www.onlygold.com/Coins/BritishSovereignsFullScreen.asp

If GC does not have sovereigns (ok but buy them!), GC can give us the money to buy them in elsewhere! We don't want "Panda" coins!

One program like GC would be able, by theory; to keep going months and months without paying and without anybody notices it, because everything moves around the gold that you can buy after 100/500 days... and after you wait some month to have the gold too.

Make a quick calculation: how long would you stay without receiving a dime (because you reinvest the money!) and you would wait for your coins without noticing that the man is facing problems?

My answer is long time! I am concerned.

Posted: Tue Dec 19, 2006 10:29 am

Fabio wrote:

Everything is ok with GC?
I see their Admin in the forum is not answering, their deliveries are "forever pending" (me too) and 20 days ago GC Admin was even sending other kind of coins (that definitely would be not welcome!), without giving big alternative options to the members.

There has been nothing to indicate that something is wrong. Admin has announced that changes will take place. The last time, it took a couple of months before everything was in place.

Quote:

I found in a thread in GC forum a link to a site where sovereigns are available, even at a better price than GC.
http://www.onlygold.com/Coins/BritishSovereignsFullScreen.asp

There price difference is $ 5 - 6 per unit, and note that the min. order on this site is 10 units. GC allows you to purchase even (1) at a time. The price reflect the single piece orders.

Quote:

If GC does not have sovereigns (ok but buy them!), GC can give us the money to buy them in elsewhere! We don't want "Panda" coins!

They are not restricting you to Panda's, they suggested that they would also offer Maples (the best in the market right now), and some other options as well.

Quote:

One program like GC would be able, by theory; to keep going months and months without paying and without anybody notices it, because everything moves around the gold that you can buy after 100/500 days... and after you wait some month to have the gold too.
Make a quick calculation: how long would you stay without receiving a dime (because you reinvest the money!) and you would wait for your coins without noticing that the man is facing problems?
My answer is long time! I am concerned.

You must have noted on the forum that the latest delivery was received by some one as late as the first week of December. I know that person from another forum, so I know the post is not BS. There was another person who posted that he received his very first coin recently.
I know that we have all faced several program closures in recent times, but I do not think this is one of them. Just be patient till they sort the new coins out.

Levaz

Investor Joined: 25 Sep 2006 Posts: 194

Hi Levaz

............so?..............

Posted: Thu Dec 21, 2006 1:50 am

Fabio wrote:

Hi Levaz

............so?..............

Still waiting for a reply. Just hang in there.

Levaz

Posted: Thu Dec 21, 2006 9:52 pm

Here is an update from the Admin

Quote:

Started by GoldClaim Admin

Later than originally indicated, we bring you a further clarification of the current delivery situation for gold pieces. In a posting we made at the end of November we said:

Quote:

"A series of changes are underway within GoldClaim which will mean that the Sovereign and Kruggerrand will not be listed for several months. In their stead are 3 new gold pieces which we will be providing further information on in a more detailed update during the course of next week.

In practical terms, what will occur is that recent orders made for Sovereigns will be re-credited back to the clients Gold Account so that these funds can be used by the client to then purchase the new pieces. The pieces comprise of 1/10th, 1/4 and 1 oz weights and are 24k pure gold and are akin to Maples and Pandas.

In addition, GC clients who reside in North America will also be able to buy silver pieces in the form of 1 oz Silver Liberty's. Shipping and tax issues mean that the silver pieces are only viable for North American clients at this time.

Our apologies for the delay in announcing this and also the delay some clients are experiencing with delivery. A more seamless changeover was anticipated but was not possible due to certain logistical arrangements which have had to be restructured.

We will have pictures of the pieces and background information on them during the course of next week.

(Further to that update, we have to inform you that the Silver Liberty's will not be made available for now. The much higher shipping weight of silver is an additional item we do not wish to deal with at this time.)

The delivery arrangements for the new pieces were agreed upon during the first week of December. Because there are certain changes within the system and also because of the global postal glut that comes with this time of year, it was decided to defer the start of the new delivery process until the beginning of January. It is not uncommon for packages of all sorts and sizes to go missing in the post at this time of year and we did not want to start a new delivery system on a bad note. If there are any gremlins in the new system it would have made the job doubly difficult in identifying them should pieces have gone missing over the Christmas period.

Packages to clients will be mailed from new locations starting in January. In some cases we will include a note asking the recipient to inform us as to when they received the package and its condition, this is so we can gain a better understanding of the time frames involved.

As mentioned above, pictures of the new pieces will be posted on the GoldClaim shopping cart, replacing the Sovereign. All unfulfilled recent orders placed for Sovereigns will be re-credited back to client accounts where clients can then order the new pieces.

We look forward to resuming a steady delivery service at the start of 2007.

And on that note we wish you all a merry Christmas and a prosperous and happy new year.

Investor Joined: 21 Sep 2006 Posts: 160

Levaz,

What's the minimum to invest to be able to at least buy one coin after a cycle?

I'm your new referral, n idea if you see that or if you earn something from me, but i hope so Wink

Posted: Fri Dec 22, 2006 1:47 pm

Gray Eminence wrote:

Levaz,

What's the minimum to invest to be able to at least buy one coin after a cycle?

I'm your new referral, n idea if you see that or if you earn something from me, but i hope so Wink

GE, with the existing sovereigns, you needed to place at least (3) claims ($ 225.00). Your return would have been $150 in the Gold account and $ 150 in the holding account. A top up of $ 10 - 15 from the hold account to the Gold account would have got you (1) sovereign. You can either withdraw or top up the holding account for another cycle.

They are changing the coins, and you will be allowed to purchase smaller units. They are going to update the new coins soon. There has been a lapse for the month of December.

Yes, I see that you signed up. I believe I get $ 5 per claim that you purchase. More if you opt for the 800 and even more with the 4000. The referral earnings are clearly shown to you if you see the home page after you have signed in.

Levaz

Investor Joined: 25 Sep 2006 Posts: 194

Hi Levaz

Thank you for updating us regarding GC delivery issue.

Do you have a link regarding the new coin, to see how it looks like, the gold percentage weight etc?

Are you comfortable with these coins?

Thank you

Investor Joined: 21 Sep 2006 Posts: 160

levaz wrote:

Gray Eminence wrote:

Levaz,

What's the minimum to invest to be able to at least buy one coin after a cycle?

I'm your new referral, n idea if you see that or if you earn something from me, but i hope so Wink

GE, with the existing sovereigns, you needed to place at least (3) claims ($ 225.00). Your return would have been $150 in the Gold account and $ 150 in the holding account. A top up of $ 10 - 15 from the hold account to the Gold account would have got you (1) sovereign. You can either withdraw or top up the holding account for another cycle.

They are changing the coins, and you will be allowed to purchase smaller units. They are going to update the new coins soon. There has been a lapse for the month of December.

Yes, I see that you signed up. I believe I get $ 5 per claim that you purchase. More if you opt for the 800 and even more with the 4000. The referral earnings are clearly shown to you if you see the home page after you have signed in.

Levaz

Thanks for the info, some recent events in Belgium convince me to get some additional gold coins in addition of the Napoleons I already got Confused

But don't dream too much to a 4000 Wink

, you know my kind of investment, even if it's growing, I didn't yet reach the average of that kind Smile

Posted: Fri Dec 22, 2006 5:15 pm

Fabio wrote:

Hi Levaz
Thank you for updating us regarding GC delivery issue.
Do you have a link regarding the new coin, to see how it looks like, the gold percentage weight etc?
Are you comfortable with these coins?
Thank you

You are most welcome, Fabio. I was waiting for some news myself. It was good that the Admin responded fast, and addressed the issues entirely.

Well, if the newsletter is any indication, we are looking at Canadian Maple Leaf, Chinese Panda's, etc, which are some of the highest rated "Later Mint" coins for the past 2 decades.

Panda's - check them out your local Gold Market, They are very popular where you are!! Maple are more well known int he Western Market. Other than Credit Swiss, the Eastern Gold Market does not trust or like Western bullion treatments. West uses more nickel whereas East uses more copper for various reasons. West uses gold more as bullion, and less (10 - 18K for jewelery), East uses Gold (22K only for jewelry) and pay making charges for intricate designs and patterns (which are lost on the Western markets).

These two mints, however, are highly regarded for their quality and workmanship.

Levaz

Posted: Fri Jan 12, 2007 1:07 pm

Gray Eminence wrote:

Thanks for the info, some recent events in Belgium convince me to get some additional gold coins in addition of the Napoleons I already got Confused

But don't dream too much to a 4000 Wink

, you know my kind of investment, even if it's growing, I didn't yet reach the average of that kind Smile

GE,
If you haven't already purchased a goldclaim, your account will expire on the 19th of this month.

If you are still undecided, let me know later when you are ready and I will give you the code again.

Levaz

PS. I am expecting my first coin shortly. I will post a picture of it after I have it evaluated at my local goldsmith.

Investor Joined: 21 Sep 2006 Posts: 160

Sorry about that, my funds are blocked for another project and I still have some doubt about their "50% cheaper than the market" Confused

Posted: Fri Jan 12, 2007 2:36 pm

Gray Eminence wrote:

Sorry about that, my funds are blocked for another project and I still have some doubt about their "50% cheaper than the market" Confused

No problems, there should never be a hurry to invest. Especially, if you have even the slightest of doubts. The 50% cheaper is a generally misunderstood concept. Here is the break down of the "50% off market prices".

You buy at least (3) claims at a cost of $ 225.00 At the end of 100 days, you earn a total of $75.00 making your total amount $ 300.00

Half of the $ 300, i.e., $ 150 (a), is returned to your holding account. Which you can either withdraw or reinvest with a little top up.

The other $150 (b) is placed in your gold account. The way GC looks at it is the amount (a) transfered to your holding account is you principal only. The amount (b) that is placed in your Gold account (with which you HAVE to purchase the gold) is $ 75 of your principal and $ 75 of your accrued profit. Therefore when you purchase a coin for $ 150, you are actually paying only $ 75 for it!! That is your 50% discount!!

It gets interesting if you purchase the 800 or 4000 series claims. In both cases, since you entire principal is returned to you at the end of the term, less the account fee of $ 50 and $ 250 respectively, essentially, you are getting the gold FREE!!

Here is the breakdown for the 800:
Invested amount: 750.
Set up cost $ 50.
Total layout 800.
You will receive $ 250 to your Gold account every 100 days, with which you HAVE to purchase gold.
On the fifth installment, you will also receive 750 (principal) to your Holding account which you can withdraw or top up with $50 and repeat the process.

Here is the 4000:
Invested amount: 3,750.
Set up cost $ 250.
Total layout 4,000.
You will receive $ 1,250 every 100 days, $ 750 to your Gold with which you HAVE to purchase gold, and $ 500 to your Holding account which you can withdraw or purchase more claims.
Total to the Gold account in 500 days - 3,750.00
Total to the Hold account in 500 days - 2,500.00
Principal returned at the end of term - 3,750.00

Not bad really!!

Levaz

Investor Joined: 21 Sep 2006 Posts: 160

Do I nedd to invest to have access to the forum? I've never been allowed into the forum where i wanted to see some Europeans comments about Custom Fees

Posted: Fri Jan 12, 2007 3:19 pm

Gray Eminence wrote:

Do I nedd to invest to have access to the forum? I've never been allowed into the forum where i wanted to see some Europeans comments about Custom Fees

No, they want you to check everything out. Only invest once you feel comfortable.

Customs is based on your luck. Sometimes your package passes right through, and other times, you are held liable for customs. Depends on whether the postal people are thorough or not on the day your package arrives!!

Levaz

Apprentice Joined: 24 Nov 2006 Posts: 98

I am new in this private section. I wonder...
What about the DD auditions? I have just read the GC webpage and it looks like a ponzi.

In general, there is little information about the programs. Why do you trust them? Are they old? Do you know the admins? I think I missed something Rolling Eyes

Investor Joined: 25 Sep 2006 Posts: 194

Dear Levaz

Did you receive an answer to your post or GC means lately Gold Fading?

Investor Joined: 25 Sep 2006 Posts: 194

Oh sorry, my mistake

... GC ... but Gold Fading in this moment really got a meaning if I think at my "imaginary coins"... in eternal "pending delivery"... (since the 14th December).

Posted: Sun Jan 21, 2007 8:23 pm

salterus wrote:

I am new in this private section. I wonder...
What about the DD auditions? I have just read the GC webpage and it looks like a ponzi.

In general, there is little information about the programs. Why do you trust them? Are they old? Do you know the admins? I think I missed something Rolling Eyes

Hi salterus,

Yes, there is little information on how they make their money. There were some snippets about them making it from loaning the funds to DPC and PI who in turn make the returns.

Trust has been build over the past 3 years - the program has been operating since early 2004. There is no DD offered. This one, I personally watched form the side lines for at least 9 months before adding it to the list.

Right now, they are facing some hiccups - all people are waiting for the new gold coins to be delivered, as you can see from Fabio's above posts. They have changed the coin supplier and the delivery system also.
The e-gold payments were delayed through December, but when the admin. came back in Jan, ALL payments were completed!

No I do not know the admins personally.

I am quite confident that things will fall in place with this program especially since the payments were honored. I, myself, am waiting for a coin ordered first in December, refunded the value of that order, and a new order placed in Jan. The old system took 2 - 3 weeks for delivery. So we are waiting now.

Levaz