Sorry if this has been covered, but may I ask peoples thoughts on storage of precious metals , from what I have read so far the opinions and options are... 1 . Home safe ... you will be robbed! 2. Store at company such as ABC Bullion etc (safe? what happens if company folds, may not send you exact purchased item unless you pay for premium storage) 3. Bank safe deposit box seems the best option to me .. Thoughts please, and which banks offer this service. New to collecting .
Stacks PM's to escape the flawed and corrupt banking /govt system... then gives PM's back to the flawed and corrupt banking /govt system to "look after"......... did no logical person, ever.
4. Non-Bank safe deposit box is probably better than a bank as they shouldn't have an unexpected bank holiday. 5. Unallocated or allocated at Perth Mint (govt backed). Should be safer than private companies such as ABC. 6. Dig a hole, but you can still be robbed.
Unlikely if: a) No one knows about it b) It's hidden well and c) It's a good one (TDR) bolted down properly. None of that Bunnings crap. There are also a million ways to hide stuff at home so no one will ever find it. Downside is it's easy to forget, or the location dies with you. https://www.perthmint.com/storage/help/faq-storage-options.html Much better to have them stored with the Perth Mint, ABC etc, as you can resell them at any time with the push of a button. Holding physical gold yourself makes selling them a pain.
Thanks , is the Perth Mint a more reliable storage solution than say ABC (private) and can someone please explain this allocated and unallocated reference, sorry for being such an unknowing.
If you live in Melbourne or Sydney go to Guardian Vaults. They got private SDB and great security. That's where I went.
Most don't invest in PM like Christians waiting for the second coming of Christ though. Back to the original poster, it is a very sensible idea, as long you learn the differences between Have a 1. "box" in a vault be it a bank or some other service provider 2. Owning (rights) to Un-allocated gold and silver in a mints or other vendors custody 3. Having Allocated gold or silver. You need to look at the cost.
1. Safe deposit "box" in a vault be it a bank or some other service provider This is what you see in the movies, where people go in and have a private box in a vault. You pay for the box, and the cost changes depending on size etc. what you pay has no direct correlation to the value of the contents. https://www.custodianvaults.com.au/sizes-prices/ http://www.guardianvaults.com.au/safe-deposit-box-sizes/ For those that want to hold some but think it is too much risk to store it at home. 2. Owning (rights) to Un-allocated gold and silver in a mints or other vendors custody This means you usually own a share of a large bar, so if the provider had 400oz silver bar, and you own 40oz than you own 1/10 of the bar. In the future when you want to cash out, you sell back to the dealer and you can get either cash or 40oz of silver. The saving here is that there is no fabrication cost and low overheads for the dealer, each time some one buys or sells, it is just an accounting. If you ever want to cash out and close the account, you can take silver but it means you have to pay extra for the fabrication or premium to buy what ever it is you buy. Ie just becuase you have 40 ounces of silver, when you cash out phi ally you don't get 40 lunar coins. The default is low premium bars but you need to pay fab cost. The best is to take the cash and buy the coins and bars you want. This service is usually run by big dealers or mints who have big stock piles of silver/gold in storage or inventory for other uses. It just have to be owned by them. For example Perth mint could have 500,000 ounce in storage waiting in different parts of the business, some in raw 400oz bars, some in refinery, some in blank making section, some in minting press. Un allocated is the easiest for the investor that wants to buy and sell like any shares. Try buying and selling 10 ounces gold physically other than at a dealer and it will do your head in. 3. Owning Allocated gold or silver mean, they store a particular bar or coin. (There are variations to this rules and every provider is different so check out the rules Some goes all the way to storing specific gold bars for you and you get to see the serial number. This service is more expensive as the gold or silver kept a side and is not part of the inventory. So if you buy 1 ounce there literally is 1 ounce stored for your exclusive use. Allocated suit a passive investment just wanting to have exposure to precious metal.
What is Guardian Vaults like in Melbourne, prices, services, security, auditing of your gold/silver, etc ? Cheers, HAPPY STACKING
http://www.guardianvaults.com.au/safe-deposit-box-sizes/ With a SDB there is no auditing, they don't know nor care what is stored in your box, nor do they have access to open it. Some of these storage places also have deals with the bullion dealers where they will ship directly to them. i.e. You buy form the dealer and they ship it to vault for you. https://bullionmoney.com.au/bullion-storage/ I think Guardian Vaults might do it too?
Melbourne I think that prices start at $270 for a small box, service is excellent, security appears to be excellent and audits (if required) are $40 per half hour.
Just go to their website to find all those answers. http://www.guardianvaults.com.au/ [youtube]http://www.youtube.com/watch?v=Gja-EHv2-V8[/youtube]
I don't know about Melbourne but Guardian in Sydney look after the local SilverStackers very well. Might be a similar connection in Melbourne?
I got a friend who I convinced to start stacking 2 years ago. He's got about 15kg now and kept it in his house but I later found out that he told his girlfriend and children (18+) he's stacking silver. I told him he broke the first rule of stacking which is don't tell anyone your stacking and the second rule too which is not to keep it in your home. I told him if word slips and gets out that you got a stack you will be robbed and then managed to convince him to get a SDB. Some people don't think!
Don't ABC use Guardian SDB anyway? Also for those worried about ABC, they're owned by a $1billion+ company so probably not such a concern. Allocated means you have specific PMs stored and accounted for by serial number, unallocated means it technically exists within their inventory by volume but is not assigned to you.
