Can you trust of OneGold.com to store silver?

Discussion in 'Silver' started by Domenico, Oct 3, 2020.

  1. Domenico

    Domenico New Member

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    I bought some silver in May through the online platform OneGold.com.

    My idea was to buy some physical silver and store it in a vault, Le Freeport-Singapore, in Singapore. But, at that time, premium was too high. So I opted for OneGold.com that seems to be safe enough.

    My question is:
    Is it a good idea moving Silver from The OneGold platform, American based, and move it into the vault in Singapore?

    I'm worried about Gold/Silver confiscation in USA. I think it might happen soon and want to store my silver offshore.

    PS. I don't wanna have bullion with me cause I travel a lot and change house often...
     
    Domenico, Oct 3, 2020
    #1
  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    It won’t.

    I don’t know anything about onegold though.
     
    mmm....shiney!, Oct 3, 2020
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  3. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Barely anyone in america owns gold. It's not money anymore so no reason to confiscate.
    No one would turn it in either haha.

    Even last time it wasnt a real confiscation, it was a buyback.
     
    JohnnyBravo300, Oct 4, 2020
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  4. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    The government of Franklin D Roosevelt seized all gold bullion and coins via Executive Order 6102, forcing citizens to sell at well below market rates. Immediately after the “confiscation”, the government set a new official rate for gold that was much higher as part of the Gold Reserve Act 1934.
     
    Golden ChipMunk, Oct 4, 2020
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  5. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    This intervention was not unique, even in contemporary history. In 1959, Australia’s government put a law in place that allowed gold seizures from private citizens if “expedient to do so, for the protection of the currency or of the public credit of the Commonwealth [of Australia]”. And in 1966, to stop the decline in the pound, the UK government banned citizens from owning more than four gold or silver coins and blocked the private import of gold. This was only lifted in 1979.

    https://theconversation.com/how-the...nment of Franklin D,the Gold Reserve Act 1934.
     
    Golden ChipMunk, Oct 4, 2020
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  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Gold confiscation is of academic interest only.
     
    mmm....shiney!, Oct 4, 2020
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  7. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    Now, Why would anyone Buy Gold Certificates?? :rolleyes:



    These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored.
     
    Golden ChipMunk, Oct 4, 2020
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  8. Golden Stash

    Golden Stash Well-Known Member Silver Stacker

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    When they come to collect your gold they can get your guns too. Hahaha.
    It ain’t happening !!
     
    Golden Stash, Oct 4, 2020
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  9. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    There is an old proverb, “Store all your eggs in the one basket, then keep a bloody good eye on your basket!”.
     
    sammysilver, Oct 8, 2020
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  10. REDBACK

    REDBACK Well-Known Member Silver Stacker

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    There was a Silver stacker here who used to say
    'If you cant bone it"
    "You don't own it"
    Im not sure of the exact meaning of 'bone it'
    But I'm pretty sure the implication was about the absolute control of your Precious Metals.
    RB
     
    REDBACK, Oct 9, 2020
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