Thinking of getting into silver & gold as a hobby investment. The $200 Australian coins look good for their stop loss and happy to keep a couple of them in a box somewhere but large quantities of silver would be a pain to store. What do you think of allocated storage like goldmoney ???
Just how much are you planing to stack???? Its not hard to store 50 1kg bars somewhere... Not that I have that many but I do have some
It will grow over time. But the storage cost of a safety deposit box seems to be far greater than the gram cost on goldmoney.com and the wife doesnt want it anywhere near our property.
I did my research and am comfortable having some of my bullion stored with GoldMoney. It seems to be the best service of its type. You're buying allocated physical bullion, that is stored securely and fully insured. You buy at low premiums over spot, can sell back to them any time at spot and the storage fees are low. You can choose your storage location from London, Zurich or Hong Kong. To top it off, the company was founded and is run by James Turk. Two of the most appealing aspects to me are it gives me geographical diversification (I'm not comfortable having all of my bullion stored in one location, or even in one city) and it's an extremely liquid asset. I can fund my GoldMoney account from New Zealand, then if the need arose, sell my bullion and have the funds transferred to a bank account in another country. Customers in Australia and New Zealand can now take physical delivery of their bullion from GoldMoney in the form of 100oz and 1kg bars (these countries weren't previously on the list).
Anyone using Suisse Gold? One of the best. Good prices on gold (not on silver) and free shipping over $10,000 After one year you can easily sell the gold here for the buy price and you can buy again for another year of free storage. Otherwise .05% storage fee. https://suissegold.ch/pages.php?pageid=2 We offer secure allocated Gold, Silver, Platinum and Palladium bullion storage in Switzerland to our clients free of charge for the first year after purchasing through us. Thereafter, allocated bullion storage in Switzerland is available at the following annual rates: Gold / Platinum / Palladium: 0.5% of the total market value on account
Thanks for the review. It seems like a good service. Much more exciting to hold the stuff in your hand but the quick liquidity into currency/bank account of choice and reasonable storage fees make it an attractive option.
That sounds good, but have you used them? How about proof of title and getting your money? It's not like it's easy to pop into the local branch. Otherwise I'd be up for dealing with them - seems a step above the options here in Oz.
Goldmoney is also great for liquidating quickly if you need too. The other great thing that I've only just recently found out about is you can pay with PM (goldgrams), so if you want to buy some physical (or anything for that matter) off someone with a Goldgram account (full holding and not Germany) you can pay the bill with metal in your account. Just done that with a coin from the US and saved me $ in exchange rates and paypal fees. edit: the other thing was that over Bullionvault, I prefer to pay the premium on the way in rather than on the way out....
I have not used them yet but considering that option. This is from the website: Your purchase will now appear in the 'My Vault' section of our website. From here you may view your allocated purchase, request shipping or sell your bullion back to us at the market spot price. All bullion purchased for storage is allocated to each order. Copies of bullion serial codes / numbers are available upon request. Bullion is stored in a prime Swiss Bank in Luzern, Switzerland and insured through Lloyds of London in excess of the full value held in the vaults. Clients may monitor holdings through the 'My Vault' section of our site. Once allocated, bullion stored with us is available for client collection in a secure environment directly from our bank vault in Luzern with 10 working days prior written notice required. Shipping of bullion is also available to select countries. Please note that there is a processing packageing fee of 25 CHF and a shipping fee of 20 CHF for shipments under the value of 10,000 CHF (or USD / EURO / GBP equivalent).
