Glint Pay on Crowdcube



I’m really not convinced that owning a fraction of a bar in a vault in Zurich is any more safe than buying into a physically backed ETF and I can do the latter in an ISA or SIPP.

Are you going to rock up with a chisel and some scales and demand to chip your fraction off the bar?

I’ve had the card for a few months but haven’t used it.

(R) #43

Ok, so GlintPay caught my intrigue when it floated onto Crowdcube, compounding when a discussion started here. Having used it for a couple weeks now, I do have to say it’s pretty cool. “Hey, so i’m just gonna pay for this coffee with some gold. No big deal.” :smile:

Now aside from the cool factor, here’s my take on GlintPay. It’s essentially Coinbase for gold. I think that’s great. Let’s be honest, most retail investors won’t want to figure out how to store and insure their own gold. So this is a solid option. How well does buy/sell/spend work? Very well for me. I topped up my account using a linked debit card in a matter of seconds. (Be aware that this method has a daily limit and bank transfer takes days longer). Buying that cup of coffee took the same time as a normal contactless card. Transparency is also there showing the rate you paid. Having said that, would I continue to spend the gold? Probably not. That’s not why you buy gold.

I also hear the arguments for gold ETFs. Several reasons why you may not want to invest in those: backed by gold doesn’t mean redeemable into gold; we’ve seen gold made illegal before in the US (1933) so be careful where your gold is; gold should really be seen as money and not an investable security - purchasing power preservation is the name of the game. On top of this there’s a reason why large prominent investors have their physical gold stored in Swiss vaults - the security of some of these is unbelievable, seriously. Of course they’re aware of ETFs.

Finally, the following made me a little annoyed since I only found this out yesterday. I expect some of the community members above will have the same feeling. Regarding Glint’s fee free gold transactions offer, you can’t gradually build up your gold holdings to take advantage of it. Although it doesn’t take away from the merits of the platform, that’s a real shame.


Because gold is somewhat uncorrelated to equities and so serves a useful purpose in a properly diversified portfolio.

One of my favourite sites is which allows you to model the effects of different asset classes on your portfolio over time. It is very instructive to look at a portfolio such as the Golden Butterfly which has almost the same return as the overall stock market but with dramatically lower volatility and risk.

The other aspect of gold that is easy to overlook is that over thousands of years it has been the fallback as regimes fail. We live in a period of unprecedented stability, but things change, often in perilously short timescales. I wouldn’t advocate ETF or Glint for such a situation, but if you had to flee the country because your particular group has become the villain of the day, a few oz of gold coins could go a long way to easing the burden.


I can’t convince you either. It’ll come down to individual preferences/tolerances as to what Gold exposure/ownership decisions people take.

I’ll take this as a rhetorical question.

To be fair, likewise, I haven’t used the card either. More so because I see benefits using the Glint account as apposed to the Glint Card yet.


Now you’ve edited your response I’m more inclined to engage.

I agree with you that exposure to gold is a benefit, I just don’t see what glint gives me that I can’t achieve by investing in a physically backed ETF that in addition gives me the potential to avoid CGT.

Your assertion that the customers own the gold has no real benefit as far as I can see - unless you own a full bullion gold bar (currently worth just under £400k) you are not going to be able to take physical possession of your gold, so you are exposed to similar counter-party risks as a physical ETF.


All of our clients’ gold is London Bullion Market Association (LBMA), Good Delivery 12.5 kilo or 1 kilo refined bars, warranted to be 99.5% fine gold or better.

This page should be useful to many:


(Denislav) #50

I personally see having gold as a security more than a currency. Gold is not something I plan to change to being the currency I use on daily bases mainly because such practices have stopped years and I mean years ago. I rather have a small amount of physical gold stored safely.

I think most people will use this app for those reasons more than others :smile:

(R) #51

Right, of course. The idea of gold as money isn’t the transacting of physical gold. Even during the gold standard, gold wasn’t being lugged around, nor was it even being moved across borders to and from central banks frequently. It’s an anchor that preserves sound monetary policy.
The debasement of money is what boosts gold. If held as part of an investment portfolio, sure paper gold is fine. Physical gold holders purchase gold to own it in a non-financialised form. The ETFs etc contain small print and counterparty risk that wouldn’t necessarily protect an investor in a calamitous event. If AIG wasn’t bailed out, all those prophetic subprime shorts… ‘The Big Short’ may have ended differently. Ultimately there’s a distinction between the individuals holding the physical versus paper gold. Merits to both and it all just comes down to your personal reason for gold exposure. About Glint I’ll say what I did earlier - Coinbase for gold.

(Emma) #52

Reviving an old thread.

Apparently Glint decided cancel that last crowdfunding, months after it had raised £2.1 million.

2 people confirmed they received the same email last week. Anyone here invest and can confirm or knows what’s going on there?

“Dear Crowdcube Investor,

We are sorry for the delay in contacting you regarding your proposed investment in Glint. We hope it hasn’t inconvenienced you too much.

We’ve been reviewing our operations and funding requirements and, after much thought, have decided not to proceed with this round of investment at this time. This decision has come about due to changes that have occurred in our Business, most notably the timescale for our US launch which has been rescheduled for technical reasons beyond our control. We expect to resolve these issues by the end of Q1, 2019 but we don’t want to keep you waiting any longer.

We remain focussed on delivering a reliable gold-based alternative to traditional money and banking and on our US expansion plans. We very much hope that you understand our decision not to go ahead with your investment at present and we’d like to thank you very much for showing an interest in Glint. We very much hope to be able to offer you another exciting opportunity to invest in Glint next year.

Best regards

Jason Cozens
Chief Executive”

(Alex Sherwood) #53

That’s a little bit short of details. Perhaps they were overly ambitious with their plans? It’s good that they decided to return the investment though, after such a significant change.

(Emma) #54

Not sure if you know but what’s is the crowdcube due diligence process like? Do they have to look at their plans and see if they can back up their claims?

Edit: Found a link. They check out all contracts and claims for accuracy

(Luke Bebbington) #55

Agreed, crowdcube need to up their game.

In general most crowdfunding companies have exteremly poor communication. It doesn’t bode well for a company if they can’t even manage their owners…


Crowdcube does very simple checks. They even fail at this on times, search what happened with Smart Grid earlier this year :man_facepalming: Or how they have had at least 2 failures this year within weeks/months of a successful raise. Their due diligence is very poor.

The due diligence charter is a aspirational fluff piece. They mention things like “fair” or “transparent” but fall short of expectations on both. Try asking them any question on their due diligence process and you’ll see they cannot provide any answer.

In the “Live Pitch Monitoring” section they say they monitor investment manipulation, however Crowdcube added the VC funding to their pitch total and didn’t make it clear, only clarifying in the discussions when asked. If they truly believed in stopping manipulation then then they would list the pledges like Seedrs.

These are just a few causes for concerns out of many. Try looking at Crowdcube at any detail and you’ll see you are on your own, so be very careful, invest only what you can afford to lose.

(Emma) #57

Probably better to consider them as just a platform to enable crowdfunding then and leave the investor to do as many checks and ask as many questions as possible


I received the email and there isn’t much more info beyond that.
I DMed Crowdcube twice as the payment collection dragged on and didn’t get much out of them. All in all, the timing of the cancel was perfect as it coincided with Monzo’s raise & it made me reevaluate what my investment philosophy having to deal with the frustration of this Glint raise while also seeing the fallout over Emoov.

(Alex Sherwood) #59

We knew about the US expansion already obviously but not the directors stepping down from the board too.

(George Bowlt) #60

It’s now “next year”
Any news on US expansion?
Any news on when we can invest in Glint ?
Have the 2 ex directors been replaced?
How’s everything going in general?
GlintPay, Please update.