Any E-gold Exchanger?

April 4, 2008

I am a subscriber in the e-gold newsletter and received this email:

Does anyone knows on this list of a reliable outexchanger with affordable fees?
I used before me-gold.com but they are charging nowadays more then 50%, then I used eurogoldsales.com, but they days and days to make a transaction, who else is there?

It is this kind of thing which will ultimately destroy e-gold, they are making e-gold a monopoly currency.

The best method now to sell your e-gold is with get a frelancer. You sign up and then sell the e-gold which is Fee: $0.05 fixed and 20.00% fee is taken. Is Instant. Then buy their Pioneer Debit Card and withdraw your money!

Based on what I’ve heard, the reason for the high out-exchange fees is that demand has dried up on the buying side. With no Omnipay available to act as a buyer-of-last-resort, there is, in effect, no way practical way to bail the physical gold out of the system and so the exchange business is at the mercy of the retail marketplace.

If retail e-gold buyers would show up, the exchangers could sell them what they’ve bought and could then start again redeeming it for reasonable fees. But when their inventories pile up build because no one is buying any more, they have to discourage more sellers by moving the fee structure to what you’re talking about.

Paul Davis

Posted in Debit Cards & Credit Cards