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The Processing Fees for investors taking delivery of their gold ("Delivery Applicants") are comprised of an Exchange Fee and a Delivery Fee.

Delivery Fee

No Delivery Fee is charged for the delivery of physical gold to destinations in the lower 48 States.

Exchange Fee

The Exchange Fee below is effective February 28, 2024 and supersedes any previously published Exchange Fees, including those in the prospectus:

Type of Gold Bar Exchange Fee Purity
Fee per Application Fee per Ounce
1oz Perth Mint Gold Bar
1oz 2024 Royal Canadian Mint Gold Maple Leaf
1oz 2024 Royal Mint Gold Britannia
1oz 2024 US Mint Gold Buffalo
1oz Gold Bar Royal Canadian Mint
1oz 2024 US Mint Gold Eagle
1oz 2024 Perth Mint Gold Kangaroo
1kg Kilo Bars
London bars
95.00% - 99.99%

Sample Exchange Fees

Type of Gold Bar:
Number of Bars:
Exchange Fee in USD:

During times of high demand for coins in the market, Processing Fees may be updated frequently and may be updated after the time a Delivery Applicant submits an application before it is pre-approved; in this case, the Delivery Applicant may have to pay a higher Processing Fee to have the Delivery Application pre-approved.

You may also use our online calculator to determine the number of ounces your shares correspond to.

The Exchange Fee covers the cost of exchanging OUNZ shares into gold bars in the form of London Bars which the Trust holds in the vault, as well as the cost of converting London Bars into the gold coins or smaller gold bars that investors may prefer for delivery. The Exchange Fee for gold coins and bars, outside of London Bars, reflects the premium such coins and bars are trading at relative to the spot price of gold.

In an effort to keep Exchange Fees predictable, the precious metals dealer will choose coins and bars from inventory regardless of date. Special requests may be accommodated, but are subject to inventory and may be subject to higher fees. We would publish the pricing for special requests on this page, making it available to other investors as well.

London Bars vary in size between 350 and 430 Ounces; the current median bar size held by the Trust is 405 Ounces. As a result, the Exchange Fee for 1 London Bar is set to $0.00 per Ounce * 405 Ounces + $0 = $0.00.

Aside from being able to request delivery of London Bars, investors may request to have their shares exchanged for other gold bars and coins, without numismatic value, having a minimum fineness (or purity) of 995 parts per 1,000 (99.5%) or, for American Gold Eagle gold coins, with a minimum fineness of 91.67%.

All fees are subject to change upon notice and the Sponsor may waive or reduce the Exchange Fees from time to time.

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