This article published today, describes a new class action lawsuit against UBS the worlds largest investment bank and a member of the LBMA for fraudulently charging fees to store unallocated silver. Its a great read to familiarize yourself with the difference between 'allocated' and 'unallocated silver' (or gold); http://www.gata.org/files/RamseyV.UBS_.pdf Could the real reason The Perth Mint does not charge storage fees for 'Unallocated silver' be because it would be inherently illegal to charge storage fees on metal that does not exist?
Chuckey, I suggest you poke around a little more on the forum (and the Perh Mint's own website) and read up on how Perrh Mint unallocated works before throwing those debunked allegations about. The mint is a working mint and refinery unlike most if not any of the other unallocated storage providers.
Just spoke to Ainslie Bullion...they contacted me by phone within 10 minutes of asking about their unallocated storage. Said that their unallocated storage is backed by about 6 tonnes of physical metal held in the Reserve volt. Commented that ETF's and unallocated issues are probably more of an issue wthin the United States rather than here in Australia. I asked if the price kept going up and people requested silver if this would become an issue. Obviously they said that this would not be an issue and if physical metals are required that they could deliver upon request. It is probably not the best detailed information....I probably need to ask some more specific questions but it certainly made me feel more secure with their response. With my holding of Silver I would rather not hold physical in my house....I do not keep large amounts of fiat in my house...so why Silver at large quantities? I do have coins and bullion to fondle and am looking at buying more Gold with ABC at smaller amounts and possibly more 10 gram bars. To sell and re-buy into physical atm is not possible as I am long term (4-5yrs) Silver. Should the price rocket any time soon I can still sell my holdings with Ainslie bullion even though it is 'unallocated' storage. Thoughts comments???
Has anyone an opinion on household storage facilities and hiding the bullion in common objects ? e.g book safes in boxes of books, or lamp bases etc?
Hi all have recently caught the silver bug back in December 2010. Coming from a day trading background which i tinkered with years ago i decided that i would open a comex account and trade future contracts. Didnt end up using this account after reading all the negative comments surrounding the comex and the slv market. In late feb decided to purchase physical and chose to go with Australian Bullion Company. I chose the allocated storage option however now i am worried that i made the wrong decision. Does ABC Sydney have a good reputation? Havent heard it mentioned on here as a viable storage option yet. Cheers
Hello All If ur friend is serious about investing in Ag and Au he should look into "real Safes" like CMI Commander Safes or Chubb vaults.... and he needs to learn to shut his mouth..... I would never leave my PM with third party storage...EVER... as issue will be access when the "TIME Comes" I started stacking last year.. Like ur friend we sold a few investment properties and invested in PM and to increase my stack I also trade Silver Stocks.. Physical PM is the way to go...
Hi Whitepointer.. Yes ABC is o.k to buy from, bought from BullionMark but also check the site sponsors..they all have great buyer reviews
They're one of the biggest dealers in the country. Many members on here hold the view that you should always take possession of your physical, but naturally this is not an option for everyone depending on your circumstances. Just ensure that with ANY allocated storage program, you hold title to actual metal, not an "interest" in metal that would see you become an unsecured creditor in the event of business failure. Most storage offers from bullion dealers are arrangements where your own physical metal is stored on your behalf, but I have seen one or two questionable offerings in the marketplace that look more like business loans under the guise of allocated storage. Always check and ask questions, and do your own due diligence. cheers
Hi Julie Its going to be hard to hide 145 kg Pamp behind bookcases or Normal household items Just sayin
I have a few book cases with a bottom shelf built up about 6 inches off the ground - if you remove that shelf (10 minute job) there is a cozy compartment in there.....but why would a burglar want to dismantle a bookcase? Edit: Carpentry - way of hiding things for those to lazy to dig.
A house is supposed to be something that you can use. Houses that have doubled in price (sorry "value") over the past ten years are not keeping the rain off twice as well as they used to.
