Scottsdale, Ariz, October 25, 2019—Monetary Metals® announced today that it has leased platinum to Money Metals Exchange® to support its U.S.-based business of selling precious metals at retail and wholesale. Investors earn 3% on their platinum, which is held in Money Metals’ inventory vault in the form of platinum coins, bars, and rounds. The lease fee is paid in gold.
Monetary Metals has a disruptive model, leasing gold and silver—and now platinum—from investors who own it and providing it to businesses who need it, typically for inventory or work-in-progress.
Investors benefit, because they earn a return rather than pay storage costs on their metal. Metal-using businesses benefit, as the lease tends to be their lowest-cost capital. And the lease is more user-friendly, with no need to be hedged, because it is off balance sheet. Because the precious metals remain the property of the investors, this structure also reduces their risk.
“Money Metals is a well-managed business and benefits from additional metal,” said Keith Weiner, CEO of Monetary Metals. He added, “Leasing to them is a win-win deal for them and for metal owners.”
“Monetary Metals has become an excellent financing solution for our company,” said Stefan Gleason, president of Idaho-based Money Metals Exchange. “We’re proud to participate in a program which is working globally to remonetize precious metals, and we’re also gratified to be paying lease fees to precious metals investors rather than paying interest to bankers!”
The two companies are not affiliated, despite their similar names.
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, Simplified™ to gold-using businesses. The company manages the Gold Exponential Fund™, which provides a way for investors to own gold and earn a yield, by trading between gold and silver. Monetary Metals publishes groundbreaking research to help investors understand the emerging role of gold as the ultimate measure of wealth, including the MM GOFO™ gold forward rate.
About Money Metals Exchange
Founded in 2010, Money Metals Exchange is a national precious metals investment company and news service recently named “Best in the USA” by an independent global ratings group. Money Metals specializes in buying and selling bullion coins, bars, and rounds – as well as educating investors. Meanwhile, Money Metals Depository operates a UL-rated Class 3 precious metals vault and provides secure, audited, and physically segregated storage to individuals, IRA holders, and institutions.