Abstract: A system for trading precious metals in an efficient secondary market facilitates bidding/accepting transactions between a bidder/buyer and an accepter/seller, the system may also facilitates offering/taking transactions between an offeror/seller and a taker/buyer. Alternatively, or in combination, the system may be a true gold leasing system in which title remains with the owner at all times, though the lessee may have physical custody of the metal. Alternatively, or in combination, the system may be a gold backed currency system.