Anyone tried Citadel ( USA ) for safe storage of PMs ?

Discussion in 'Silver' started by Photonaware, Jan 31, 2013.

  1. Photonaware

    Photonaware Active Member

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    Stacking physical silver can be a problem for those who have been bitten by the silver bug for a while.
    Gold less so but storage and security of storage can become an issue.

    Apmex have a scheme in place where you can have your physical PMs delivered to and stored by Citadel.
    Your stack of PMs will be logged and available to only you pending instructions.
    In other words your coins will remain your coins and bars your bars; not a share of someone else's or worse - "virtual " bullion - the paper promisory note type.

    What's the cost ?
    Annual fee is 0.55% of the total value or $180 per annum minimum.

    What's the catch ?
    Only PMs bought through Apmex can be transferred to Citadel but that's not such a bad deal is it ?
    Shipping to and from Apmex is free of charge and if you want your physical shipped to you then the shipping charges are reasonable.
    Apmex also buys back.

    Certainly for us Brits, buying tax free silver in the USA looks very attractive.
    Buy and store, don't pay any shipping or VAT then if you want fiat, sell some back to Apmex and convert into gold which is duty and VAT free into the UK.

    Thought I would pass this on in the event it is of interest to stackers.

    Full info from Apmex or www.cgdsi.com
     
  2. Jrandom

    Jrandom New Member

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    Well, GoldMoney storage for silver in Hong Kong is at .5%, so comparable. I have to say I don't like APMEX's premiums (they used to be good, but went crazy a couple years back).

    If you want to have a metals footprint in the USA, you might want to look into https://goldsilvervault.com/ . They are out of Idaho, and their storage is structured to be the same as a public storage company (aka, they don't keep records of what is in your locker, so you have maximum privacy). You can buy direct from them or ship existing product to them. I have spoken with the owner (Bob) and heard him interviewed by David Morgan. If I wanted to have metal in the USA I would use them.
     

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