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e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.

Other e-metals are also issued:  e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium.  However, the most popular e-metal (by an overwhelming margin) is e-gold.

e-gold is integrated into an account based payment system that empowers people to use gold as money.  Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts.  Only the ownership changes - the gold in the treasury grade vault stays put.