What do you think about these three websites to ask for a loan using silver bullion as collateral?

Discussion in 'General Precious Metals Discussion' started by Domenico, Jan 5, 2021.

  1. Domenico

    Domenico New Member

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  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    Stupid thing to do.
    I doubt any institution will lend you $ against bullion.
     
  3. Domenico

    Domenico New Member

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    They do it! if you store bullion with them
     
  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The laws are there but they are all private companies that are liable only up to the share capital.
     
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  5. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Interesting concept, I would not do it though.
     
  6. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    I'll stick with it's a stupid way of going about
    There was a buyer in Melbourne who used to buy a lot of gold & then borrow $ against it .
    It didn't work out for him .
    His a lawyer & tried BS legaise = didn't work
    He lost everything
     
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  7. Domenico

    Domenico New Member

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    Thank you for that. I'll keep in mind
     
  8. Domenico

    Domenico New Member

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    I completely agree with you about worthless currency. my idea is using bullion as collateral to get cash, in order to buy more bullion with it.
    I agree with you about the risk-taking.
    but, if you take a risk of storing your metals with a business that offer segregated storage, take a loan out of it is just a bit more of a risk.
    They already ''have'' your bullion...
    That's my way of thinking. And, instead of just paying for the storage, you actually use your bullion to make more money.

    I know is risky. I'm just evaluating my options for know.

    Thank you for your feedback
     
  9. Jason1

    Jason1 Well-Known Member

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    cash converters would lol ahahaha
     
  10. Jason1

    Jason1 Well-Known Member

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    borrowing money to buy bullion would be the most unproductive exercise you could undertake. the interest would kill your money quick. you wouldnt be making money from your bullion doing that you would be losing money.
    if you want more bullion you would be best to save up and buy it.
     
    Last edited: Jan 5, 2021
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  11. STKR

    STKR Well-Known Member Silver Stacker

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    https://silvergoldbull.com.au/bullion-loan/

    When I was looking into a few exit strategies, I considered this pathway as a means to invest the capital into property, rent it out and use the proceeds to service the loan.

    'Silver Gold Bull' claim to offer "up to 70% of your precious metals value". I'm sure there's a lot more to it than just dropping off your metal and leaving with 70% of its "value" in cash. The term of the loan and the interest rate could easily burst that bubble, but it's an option worthy of investigation IMO.

    I would never loan against my PM's to buy more PM's, but I'd consider buying an income producing asset if certain conditions were met (i.e undervalued property and grossly overvalued PM's + favourable loan terms).
     
  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Just find a credit card with decent interest free period, apply, buy your metals and pay back within the interest free period. If you struggle to make repayments sell the metal pay it off and cancel the card as long as you haven't made a loss
     
  13. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    Credit cards are against my religion :eek:
    Try again :D
     
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  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Same but that didn't stop me when I got a 15month interest free offer :p
    What religion allows copious amounts of scotch but no credit cards?
     

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