I'm thinking of grabbing some unallocated Ag and/or Au. I know most stackers are believers in the adage "If you don't hold it, you don't own it" to one degree or another, so I was wondering where the forum thinks unallocated bullion fits in the spectrum. Some seem to consider it scarcely better than ETFs, yet it seems fairly close to physical as far as I can see. If there is any warning that the S might be about to HTF, just head in to Pitt St, pay the dollar difference between spot and the type of bar you want to get, and walk away with physical in hand. I know that with some unallocated schemes, you carry counterparty risk in that if your bullion bank goes bust, you are not due your actual physical bullion, but rather your share of their remaining assets, whatever they may be. Is this the case for all such providers though? Does anyone have experience with the Australian outfits like ABC or Goldstackers?
Unallocated does vary widely from instituion to dealers, from how they are bought/stored/sell-back. Would be best to goes throughly and see which one fits your strategy. Better still, write down what is your strategy, and cross check them with different business. I personally use Goldstackers for their easy access/low buy in/low premium/easiness in taking physical delivery of my unallocated and their no fees. Where else you can buy unallocated silver by the ounces?
Did quite a lot of research on this one myself as storage is a PITA and settled on the PMDS. If going this way I would familiarize myself well with the procedure for getting it into phys and have a down pat plan for doing so
I use Goldstackers' facility and treat it like a savings account; a few grams or ounces here and there until I'm ready to redeem or if the situation requires, sold back. As Bloomst said, no fees, easy to add and view your holdings online.
Probably showing my ignorance AGAIN but could you tell us what PITA and PMDS stand for? Wiki has PMDS down as "Persistent Mllerian duct syndrome" which does not seem to fit this topic, well I hope it doesn't...
PMDS requires an amount to be in credit in your account before you can order and has a minimum purchase amount in $ which I think is in the $1000's, I can't remember and couldn't be stuffed looking it up. Goldstackers is a buy now pay later scheme, and minimum order is 1gram of gold, 1oz of that other industrial metal. I set up my PMDS account for our SMSF before Goldstackers had an unallocated option. I have experience with both now and if I had the choice for my SMSF initially, I would have chosen Goldstackers over PMDS.
http://www.perthmint.com.au/investment_depository_overview.aspx You're right! Where did I get $US250k from??
http://www.perthmintbullion.com/au/About-The-Perth-Mint/Government-Guarantee.aspx Not much of a "guarantee"!
I have been told different things by different people at Gold Stackers recently and was going to be charged a ridiculous fee for a simple request based on this I would go with PMDS if I had my time over again.
Dunno what jesters on about.. I saved up 10 or so ounces in allocated just to see if this product was for me. I sold my ounces back & was happy with the speed of the transaction & communication from gold stackers. I will be buying more unallocated from them in future as it saves me a fortune in postage costs and is a great way to acquire more pm's
I have started using Gold Stackers. Its so easy just to buy a couple of oz and its a great savings plan. Plus the added bonus of no fees and can stay as long as I want it there. Win Win.
