Anybody on here involved in the above program?? Just trying to get some feedback without it disolving into a " you dont own it if you dont hold it" discussion.
No involvement but you should be fine unless GoldPelican has set up an elaborate multi year sting in creating this site and goldstackers to steal a few ounces years later. I think a few members here use the program and I have not heard any complaints so unless GP is a cartoon villain deleting negative posts and buying tons of gadgets from acme for big $ to in effect steal a roast chicken dinner I think you should be fine using it.
Better check with the tin-foil hat Brigade - they may be able to shed some light on the probability. Doesn't some Bank somewhere in the world have a pelican as its symbol?
No Problems i can see .Suits me for a small fix on a regular basis.Good fun to save a few cents on an ounce on a small dip. Im sure Goldstackers credibility is top of their list.
Thanks for the replies everyone, muchly appreaciated still getting over feeling like a complete noob for not being able to connect the dots earlier Goldstacker = Silverstacker, who woulda thought??? Doh
I'll poke my head in now I'm involved in both Silver Stackers and Gold Stackers, but they are separate companies - Silver Stackers is this discussion website, Gold Stackers is a separate bullion company. Different companies with different goals - which is why you will see advertising on Silver Stackers from a multitude of bullion dealers some of which are competitors to Gold Stackers. From Silver Stackers' perspective, Gold Stackers is just another advertiser. Happy to answer any sales enquiries regarding the Gold Stackers unallocated silver program via the Contact page on the Gold Stackers website. It's a relatively low-key product launch at the moment.
STOP THAT! STOP THAT! - I'm in charge of administrating this program. Please send silver of all denominations to me at: Evelyn de Rothschild The Penthouse Bilderberg Manor Reigate-on-Zambezi Botswana No returns. No refunds. No transparency. EdR
Great idea Only a small fish but have some. Hope to add a few grams a month. Total trust in Gold stackers. Where else can you buy 1g with only 3%premium.
It's great for small Stackers, I guess that's what it's aimed at. Just wondering though, can my 7 year old have his own account and do his own saving? Does he need to send in his "Biro Licence" as ID?
Have not started with the unallocated program yet, but have multiple purchases from Goldstackers, and can attest to nothing but excellent customer service and honesty. Happy to recommend without reservation.
I have started using Gold Stackers for the unallocated gold and just today bought a few ounces of unallocated silver because I could. I don't have huge volumes of cash wasting away under the mattress or in my undy draw. Wish I had of realised this was available sooner. I have now purchased a number of grams of gold and plan to add a couple of grams to that each week and maybe an oz or 2 of silver. A very cost effective way for those in the same position as me to get into the gold market without ridiculous mark ups for the smaller purchases. When I have 40-50g of gold or 40-50oz's of silver I will convert to bars for what I think is a very good price and have it sent as a single postage. Not very concerned about the unallocated part of it as I'm not overly worried about the Government stealing my gold just yet and have no reason to doubt the credibility, trustworthiness or reliability of the Gold Stackers site or its owner. I will continued to use this option without any concerns to add a gold portion to my stack that I other wise may not have had.
Speaking of which... I was thinking of goin.g unallocated and buying a few grams each week, is that possible to then 'cash out' as a certain product? I'm sure I'm not the only one really keen on doing this with the combibars... What are the chances of you supplying these babies in the near future?
Perth Mint stuff for now... but I know a guy who knows a guy... The idea of unallocated is that you do cash it out as physical in future - e.g. a 5 gram bar is 5 grams of unallocated plus $14, a 50 gram bar is 50 grams and no further premium etc. There's some redemption products being added to the site as backing accumulates for the unallocated sold to date.
Gold Pelican I was recomending the silver unallocated to my family - so what I hear you saying is that it is backed by physical in your possession? And if we want to take delivery - it may take time to fabricate some bars but we will def get the physical if we want it?
It's absolutely backed by physical - our accounting program won't let us complete a sale for unallocated without the inventory movements in the background to account for it - we have to transfer inventory from "working" to "unallocated" in order for an unallocated sale to complete. So at the moment I don't have 10oz Perth Mint bars to sell - but there's a stack sitting in unallocated. Which also means they're available for unallocated silver holders to redeem, right now. Not backing the unallocated with physical would be a very fast way to go out of business - it would be creating unhedged liabilities in what we all hope is an ongoing bull market.
I am a customer of Goldstackers. I like the idea because Im a small time investor .I buy small quantities when I can afford it . I havent actually got any delivered yet ,so I shouldn't count my chickens. Three problems I have with the site are- 1) it doesnt have a simple accounting for what you have accumulated. You have to go through all your orders and add it up. 2) Also the price over spot should be a percentage rather than a fixed price in my opinion, and its a little steep considering you've still got to convert it at a premium to coins/bars. One dollar over silver spot would be fair for the service , or a percentage 3) Doesnt follow spot in the dips, reliably Other than that I think its a great way to accumulate, save on postage , buy in dips. If they fix those issues I'll stop looking for someone better to buy from
I would be keen to jump into the unallocated program, as I think it'd be a great way to accumulate gold/silver in a sort of 'savings plan' - however making that leap from holding the physical stuff in my hands to someone else having it in a vault somewhere is really rather daunting (at least for me). Not discrediting GP at all here, I believe it's a solid model and I know it's definitely backed by something physical... it's just a mindset thing
Hi RomanControl, Thanks for the feedback - let me see if I can respond to these points. Painfully aware of this - we're prototyping an online statement at the moment that will show your accumulated total ounces and grams, and the status (e.g. pending, paid, pooled, converted) of each historical purchase in a statement style view. The product was in soft-launch (we've done very little promotion) and it took off faster than we expected - but it's demonstrated the need to get this info up and running for our customers! This information when launched will be accessible from your account view on the Gold Stackers website - we will advertise when available (likely in December). The premium needs to at least partially cover the purchase of physical backing - and the backing is in the form of our retail format fabricated items, like Perth Mint 10oz bars, 1oz and 10oz coins etc. To offer lower premiums would mean we are selling unallocated ounces for far less than the cost to us of providing the physical backing (not to mention storage) - there's no possible way we could compete with say the spread on a derivative like ETPMAG, or Perth Mint Pool Unallocated, that is backed by say 1000oz bars at cents per ounce over spot. Depending on the physical item moved from inventory to pool backing, it usually costs us money short term to back the unallocated - when we use Perth Mint 1oz coins for example, we certainly aren't obtaining them for $2/oz over spot from the Perth Mint. Premiums for physical items in our catalog are fixed dollar amounts over spot - and the cost of buying say ten ounces of allocated silver and then paying the "redemption" fee to take delivery of it as a 10oz bar is exactly the same combined premium as buying the 10oz bar upfront. For example, using prices taken right now: Spot feed: $32.19/oz AUD Unallocated silver: $34.19/oz Redemption fee for Silver Stackers 10oz bar: $25/bar Silver Stackers 10oz bar: $366.90 (10 x 34.19) + 25 = 366.90, the same price The intention is that unallocated customers are not disadvantaged when paying the final redemption fee/premium, and the premium over spot is a balance of providing the unallocated ounces up front at close to revenue-neutral, and keeping it at a spread reasonable enough to dissuade day traders trying to jump on and use it as a trading platform rather than as an accumulation platform, which is what it is intended for. In other words, buying silver (or gold) from us via Unallocated and then converting it to a specific physical form for delivery should cost exactly the same premium as if you just bought the physical item in the first place. You're not penalised at delivery time with extra fees. Should do so during business hours - prices follow spot and are updated every five minutes from 8am to 6pm Melbourne time business days. Overnight only increases in spot are reflected, as we're not awake 24 hours a day to hedge overnight sales, so there is an overnight floor. It does mean that dips outside of these hours cannot be taken advantage of - but dips during business hours certainly can. Thanks - we are working on the first one at least, and I hope my explanation of the second two provides some clarification.
