Storing PM's overseas

Discussion in 'General Precious Metals Discussion' started by Caput Lupinum, Feb 24, 2014.

  1. Altima

    Altima Well-Known Member Silver Stacker

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    I have only dealt with Silverbullion, GoldSilverCentral, BullionStar but only for making purchases. Have yet to try their storage facilities but I prefer to go with Certis Cisco or the banks for that.

    As for SPMX, we had a stacker here who tried ordering a 10oz Scottsdale stacker bar and it wasn't a pleasant experience (delay tactics, defective product). I hope they get their act together cos they have quite the potential.
     
  2. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    I didn't realise you could go directly through Certis Cisco, but looking at their website it could be the best option. I take it that if I wanted to buy gold or silver through SilverBullion it couldn't already be stored with my existing holding with Certis Cisco. I've sent them an email asking just that but I don't like my chances.
     
  3. Altima

    Altima Well-Known Member Silver Stacker

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    My guess is that Silverbullion has a separate vault with Certis Cisco where they actually just label your items in sealed packages and store them with all the other customers' bullion.

    This is unlike the case where you open your own SDB with Certis Cisco and personally store/withdraw your items there.

    Another option would be to consider those tax-free zones/ports to trade/store your valuable items. An example would be the Singapore Free Port
     
  4. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Yeah I'm waiting for a reply from the free port but I would assume they're a lot more expensive than the other facilities.
     
  5. Cimexus

    Cimexus Member

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    Right - I understand that. I was just responding to the "6 coins at a time won't be noticed" post above, by saying you can take out substantially more at time without any issues. You may of course still have to take multiple trips, depending on the size of your stack.

    It was more of a "don't worry, airport security/customs don't care as much as you think" post, rather than a practical suggestion :)
     
  6. Silver Saver

    Silver Saver Member

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    From my experience, just do the sums as it maybe cheaper to store at Certis Cisco. You could access your SDB 7 days in a week. I prefer to eliminate the risk of storing with a dealer as it may just takes ages to get the PM back if the company is in financial trouble. :)
     
  7. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Got an email back from Certis Cisco but they were vague on details which I guess is understandable as I was only asking in relation to an initial enquiry. They still use contracted logisitics companies like G4S to move people's bullion to the facility but couldn't give me a rough quote how much this would be. G4S wouldn't give me a quote either as they only deal with companies and not personal quotes. I think I'll let it be until I go over there in person to get a better idea.
     

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