Frequently Asked Questions
What exactly is a Quint?
A Quint is a digital certificate of ownership of 1/1000th of a U.S. Minted Gold Coin. A QuintS is 1/20th of a U.S Minted Silver Eagle. These “tokens” allow gold and silver dollars to circulate as digital money.
What are the advantages of Quintric in a nutshell?
Quintric allows you to move out of debt/hype-based currencies and into a more stable, enduring monetary system. Each Quintric token:
- Certifies audited precious metal coin on deposit
- Appreciates with the gold price over time
- Is inherently inflation-proof
- Can circulate as legal tender, like cash
- Will never be subject to fractional reserves
- Never generates recurring costs for the user
- Can be used for near-instant, global transactions
- May provide tax benefits within certain jurisdictions
How do I convert to Quint?
Simply create a Quintric account by clicking here. You can fund your account with the following deposits;
- Fiat cash (debit/credit cards, bank wires, checks or ACH transfers)
- Cryptocurrency (Bitcoin, Ethereum, Litecoin, Bitcoin Cash or Bitshares)
- Precious Metals (gold/silver bullion or specie coinage)
How does Quintric establish the value of these tokens?
Token pricing is pegged to the U.S. Mint published retail rate for a 1oz Gold Buffalo Proof Coin divided by 1,000. A portion of the premium realized upon token creation is placed in trust to cover the cost of vaulting and insuring your metals.
Why are Quint and QuintS tokens priced the same?
So long as the Gold/Silver price ratio remains above 60, we price our silver and gold tokens the same for ease of use and because they represent roughly the same net USD value—once the pre-paid vaulting packaged with every coin is factored in.
Will the USD/Quint exchange rate change over time?
Yes, but not frequently or dramatically. Quint and QuintS are stable tokens, based on the value of precious metals, not speculation and hype. Their assigned exchange rate only changes with updates to the U.S. Mint published retail rate for a 1oz Gold Buffalo Proof Coin, which occurs only at times of major gold market swings.
Do I have to be an investor to own Quint?
No, anyone can open a Quintric account. Owning Quint is no different (legally speaking) than carrying a gold coin in your pocket.
Is there a minimum buy-in amount?
No, you can literally fund your Quintric account with pennies at a time. Quint tokens themselves are divisible to four decimal places (equalling one ten-millionth ounce of gold).
How many Quintric Tokens will be issued?
Because every Quintric token represents a fractional interest in physical precious metal coinage on deposit, a natural scarcity limits the total number of tokens possible. Between 1986 and 2019, the U.S. Treasury minted around 25 million ounces of gold and 500 million ounces of silver into Specie Legal Tender (coins stamped with a dollar value). This means that if every single U.S. Eagle and Buffalo coin were to end up in Quintric vaults, around 25 billion Quint (~$40 billion) and 10 billion QuintS (~$16 billion) would be possible.
How is Quintric able to guarantee no recurring account fees?
Each and every Quintric token represents a fixed quantity of gold or silver. A portion of the premium charged on the creation of each token is held indefinitely in a trust fund which generates enough annual income to cover the cost of vaulting and insurance in perpetuity. Because of this, your Quintric holdings are not subject to erosion by recurring carrying costs.
Who accepts Quint as payment?
Anyone with a Quintric account can send or receive funds through our online portal. The question you should be asking yourself and those around you is: “Would you rather be paid in paper money, or in real money (gold and silver)?” The best way to revive the Gold Standard is simple—spread the word!
What blockchain technology does Quintric use?
Quintric is available on the Bitshares Graphene Blockchain, which uses the Delegated Proof of Stake (DPoS) algorithm—an extremely fast and secure way to process cryptographic transactions. In addition, Quintric supports off-chain payment processing at escrow.quintric.com. Thus Quint can be used as a means of private, legal tender payments, or as cryptocurrency exchanges recorded on the publicly available Bitshares distributed ledger. All Quint activity is subject to Quintric's escrow processing systems.
How does Quint compare to other gold products?
Proprietary Quintric patent-pending technology supports the only blockchain-based alternative currencies payable on demand in specie legal tender. The Quint is not simply asset-backed, it constitutes a monetary certificate of ownership—in contrast to a commodity warehouse receipt or corporate stock investment. Quintric will soon offer the world's most transparent repository with a 24-hour livestream of all gold holdings any Quintric holder can compare against the public ledger. With proven reserves, no annual fees and a high degree of liquidity, a Quintric account is one of the best ways to build and preserve your wealth, both in the short-term and for years to come.
Does Quintric offer registered securities?
Quintric monetary tokens are not securities, rather they constitute claims to 100% reserve, insured, specie legal tender holdings on deposit. As such, these tokens enjoy preferred tax treatment over all other types of cryptocurrencies. Quintric Holdings, Inc. does offer a security token, the QuintX, which is available to accredited or otherwise qualified investors under applicable exemptions from securities registration requirements.
What is QuintX?
Each QuintX token represents a fractional interest in the transaction fee revenue generated by the Quintric monetary system. Those interested in the QuintX offering may request more information by emailing firstname.lastname@example.org.
How does Quintric screen for potential bad actors?
Quintric performs Know Your Client (KYC) and Anti-Money Laundering (AML) screening of all account holders through a third-party service provider. Higher level KYC/AML checks are performed for those handling larger sums of money. These precautions can help assure Quintric clients that those they may be transacting with have undergone such scrutiny. Bear in mind, however, that much of the information required for such KYC/AML is either not retained by Quintric or subject to one-way encryption in the interest of client privacy and remaining fully compliant with the General Data Protection Regulation (GDPR) requirements recently instituted in the Eurozone.
Who actually owns the vaulted precious metal coins?
You (the account holder) own your gold and silver legal tender, which is insured and held in trust through a contracted fiduciary service provider for your exclusive benefit. Because Quintric allows account holders to own as little as 0.0001 Quint, you may have factional coin ownership with other Quintric account holders.
Can I withdraw physical coin from my account?
Of course, simply email your withdrawal request to email@example.com. Be sure to include the amount you would like to withdraw along with the authorized recipient's name, picture id, shipping address, and if the picture id does not list that address, third-party documentation, such as a utility bill, showing the recipient's connection with that address. Quintric will then invoice you for the amount requested plus shipping and handling fees through the Quintric webapp hosted at escrow.quintric.com. Once you receive emailed notification of the Quintric invoice, login to confirm your order. If you require assistance at any stage of the process, feel free to call our +1 (385) 498-4653 help line any time between 9am and 6pm Mountain time.
I made a deposit - why hasn't my balance updated yet?
Quintric does not make tokens fully available for use until the corresponding gold or silver coin has actually been vaulted. Processing precious metal acquisitions, during which your incoming funds (Dollars, Euros, Bitcoin, etc.) are converted into specie coinage, can take anywhere from 7 to 10 business days to complete. That said, as Quintric builds up its surplus holdings, processing times will improve until they may become virtually instantaneous, especially for smaller amounts.
How can I best resolve technical difficulties with my account?
Simply email a description of the issue you've encountered to firstname.lastname@example.org or call our support line, +1 (385) 498-4653, any non-holiday, weekday between 9am and 6pm Mountain time.
How do I name a beneficiary for my Quintric holdings?
Quintric does not presently support account beneficiary designations. Access to your Quintric account is contingent solely upon combined access to your email account, mobile phone and knowledge of your Quintric password. Whomever you grant simultaneous access to all three of these resources will be able to access your funds. If you are interested in designating beneficiaries for gold and silver legal tender accounts we would recommend that you consider using United Precious Metals Association, which offers this service.
Can Quintric tokens be circulated anywhere in the world?
Yes, anyone who clears the Know Your Client and Anti-Money Laundering screening provided by our third-party KYC/AML service provider can open a Quintric account. Beyond that, each account holder is responsible to remain informed of any local laws which may impose restrictions upon the ownership or use of precious metal legal tender or cryptocurrencies outside the U.S. — Quintric's home jurisdiction.
Does Quintric have a debit card option?
No, Quintric offers escrowed payment processing of fractional interests in actual gold and silver legal tender coin. For those interested in support for paper dollar transactions, the United Precious Metals Association does offer a debit card that can be reloaded from a member's Liquid Gold or silver accounts.
What happens if Quintric fails?
Your Quintric monetary tokens entitle you to payment in precious metal legal tender on demand. Your gold and silver coins are fully insured and held in trust by an independent, third-party fiduciary. Quintric operating funds are not commingled with your holdings. Were Quintric to fail, your gold and silver would remain separate and apart from Quintric assests and liabilities, fully available to be withdrawn by you on demand.
Does the Quintric system offer any tax advantages?
Unlike Quint, most cryptocurrencies constitute fully taxable, intangible property. While Quintric does not offer legal or tax advice to its user base, account holders may do well to consult with their own advisors regarding planning opportunities and strategies, as well as potential pitfalls. The implications for U.S. taxpayers are particularly significant.
Is Quint susceptible to government confiscation?
In 1933, the now infamous Presidential Executive Order 6102 required U.S. citizens to relinquish their gold for paper dollars. Unlike today, this occurred during the U.S. gold standard era. The justifications asserted then, simply do not apply today. Since that time, the Federal gold confiscation has been widely criticized as unwarranted, even then, and entirely unconstitutional. After all, the U.S. Constitution tasks the States, not the Federal government, with making "gold and silver coin a tender in payment of debts" (Art. I, § 10). Thus, gold confiscation is highly unlikely to recur, especially in those States taking part in the growing trend towards embracing precious metal coinage at the State level, which began with the 2011 Legal Tender Act of Utah—Quintric's home State. In fact, Utah's Attorney General has vowed to block any attempted repeat of Roosevelt's gold grab.
How do I know Quintric isn't a scam?
All Quintric holdings are subject to regular third-party audits and are fully insured. Requests for insurance certificates should be directed to email@example.com. In addition, Quintric will soon be launching accesss to livestream video vault footage that may be viewed online by registered account holders. This new service will offer an unprecedented level of transparency in that account holders will be able to independently reconcile blockchain totals against physical, vaulted reserves. Finally, Quintric’s directors and advisors bring significant, highly relevant, experience and capabilities to the enterprise.