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> The spread on current paper national currencies is something like
> 2- 2.5%. If the gold economy wants to compete, exchange rates will
> have to come down when goldcurrencies are purchased with non-
> repudiable payment methods like wire transfer. It make sense that
> the spread remains higher only when the payment method used is
> highly repudiable like credit cards.
>
> Alread, a few exchange providers offer exchange at 3-5% exchange
> rates.. As volumes grow, these rates will be the norm rather than
> the exception.
Claude you are very right,
all the market makers are in currency exchange business and sooner or
later we have to play by the (unwritten) rules of currency exchange -
small spreads (1-2%) when accepting hard money.
Brendan, you might consider our service too - we accept wires and
Australian dollars (along with other 16 national currencies). Our
sell rate is 4% above e-gold spot and our buy rate 1% above e-gold
spot, making our spread only 3%. And if you want to buy bigger
amounts - 10,000 AUD and up, we can give you better rate than 4%.
Regards,
Paul Vahur
General Manager
IceGold | http://www.icegold.com
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