Precious metals dealer BullionStar has begun this month to pay workers’ salaries with their choice of gold or silver, instead of cold hard cash.
Claiming to be the first in Singapore to do this, the company can pay issue a payout of two gold bars worth $1,600 each for someone who earns $3,200 a month, and even a one-kilogram gold bar for a high earner taking in $51,000 a month, according to Channel NewsAsia.
BullionStar’s CEO Torgny Perggson says, “Gold and silver has been used as money throughout centuries and keeps its chasing power over time better than any other asset class. By paying our staff in gold and silver, we allow them to save in real money that keeps its value over time.”
Mr. Perggson also reveals that the staff is already familiar with the process of saving and investing in precious metals, so it’s only natural for them to embrace this new arrangement.
BullionStar still makes contributions’ to its employees’ Central Provident Fund in cash.
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