Best option to Buy/Sell unallocated precious metals

On topic, I have some views and questions I'd want answered before putting my hard earned $ into an unallocated holding. Some of these issues have been touched on in this tread but here's my view.

1) Does the Provider (the entity providing the unallocated offering):

a) disclose who owns the Provider, their financial position and any guarantees from third parties / Govt's over the business?,
b) insure the individual unallocated purchases (against thief, fraud, other etc)?,
b) and if yes, then for how much, max limit per individual purchaser holding, max limit for the Provider in total, and
c) who provides the insurance? This is important as insurance companies can go bust too (and do). Where are they located and what exclusions are in the policy that are relevant to the purchaser/s?

2) Is the unallocated bullion held in Providers business name or in a separate trust structure on behalf of the purchasers? Heaven forbid the Provider went into VA or liquidation, but if such an event did take place and if not held in trust, purchasers of unallocated bullion would become unsecured creditors at best and would struggle to redeem / cash their holdings in full or part and in a timely manner from the liqudiator.

Same questions apply should someone wish to use a safety deposit box provider to hold their PM's and other valuables.
 
Captain Kookaburra said:
I can vouch for the Goldstackers unallocated program.
It's changed a little bit in structure since we set it up. But I still think it's still the gold standard when it comes to unallocated.
I can certainly put anyone minds to rest as to the fact that it was always fully backed, and more importantly it was never registered as GoldStackers asset, so it is safe even if the company hits problems.
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Is it independently audited? How often?
Who or what entity holds the actual asset if it's not GoldStackers?
Who insures it?
Can you check the insurance terms?

These are questions you should ask of any allocated or unallocated program.
 
Oddjob said:
On topic, I have some views and questions I'd want answered before putting my hard earned $ into an unallocated holding. Some of these issues have been touched on in this tread but here's my view.

1) Does the Provider (the entity providing the unallocated offering):

a) disclose who owns the Provider, their financial position and any guarantees from third parties / Govt's over the business?,
b) insure the individual unallocated purchases (against thief, fraud, other etc)?,
b) and if yes, then for how much, max limit per individual purchaser holding, max limit for the Provider in total, and
c) who provides the insurance? This is important as insurance companies can go bust too (and do). Where are they located and what exclusions are in the policy that are relevant to the purchaser/s?
2) Is the unallocated bullion held in Providers business name or in a separate trust structure on behalf of the purchasers? Heaven forbid the Provider went into VA or liquidation, but if such an event did take place and if not held in trust, purchasers of unallocated bullion would become unsecured creditors at best and would struggle to redeem / cash their holdings in full or part and in a timely manner from the liqudiator.
Same questions apply should someone wish to use a safety deposit box provider to hold their PM's and other valuables.
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d) will the Government make up new legislation to change the rules of the game & confiscate (STEAL) the assets held in unallocated & allocated accounts?
XYZ) IF YOU DON'T HOLD IT, YOU DON'T F'ING OWN IT. RANT OFF _JOHNLGALT.
 
JOHNLGALT said:
d) will the Government make up new legislation to change the rules of the game & confiscate (STEAL) the assets held in unallocated & allocated accounts?
XYZ) IF YOU DON'T HOLD IT, YOU DON'T F'ING OWN IT. RANT OFF _JOHNLGALT.
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Nope...already in place. Refer link below to article written by Bron back in 2008.

https://www.bullionmark.com.au/gold-silver-confiscation-australia

Section 45 – this says that you are not allowed to buy or sell gold, unless authorised by the RBA. The interesting thing about unallocated is that the gold has already been bought and thus it may be legal for the Mint to allow clients to collect their unallocated gold on the assumption that as good citizens they are requesting it so they can dutifully hand it over to the RBA, of course. This will depend upon the interpretation of “or otherwise obtain gold” within the context of the section, which is titled “limitation of sale and purchase of gold”.
 
Oddjob said:
Nope...already in place. Refer link below to article written by Bron back in 2008.

https://www.bullionmark.com.au/gold-silver-confiscation-australia

Section 45 – this says that you are not allowed to buy or sell gold, unless authorised by the RBA. The interesting thing about unallocated is that the gold has already been bought and thus it may be legal for the Mint to allow clients to collect their unallocated gold on the assumption that as good citizens they are requesting it so they can dutifully hand it over to the RBA, of course. This will depend upon the interpretation of “or otherwise obtain gold” within the context of the section, which is titled “limitation of sale and purchase of gold”.
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So there is a provision in the law to confiscate the commodities (precious metals in this case) if need be. Not surprised to know that.

An interesting punchline from the same article....

Bottom line: Gold is the ultimate hedge of Government and Central Bank incompetence.
 
As long as you only plan on holding it for a couple of years you should be fine. Any longer and I would recommend holding it yourself.
 
More people on this forum have lost gold and silver they "held" at home than through unallocated/allocated/pool products. There was a rash of bullion thefts several years ago on the east coast, a number of targeted home burglaries occurred, several safes cracked. A Melbourne safe deposit box facility was also hit around the same timeframe, with a lot of bullion taken.

Diversify your storage.
 
Agree'd Pelican. OP, if you want to buy unallocated bullion surely precious metal mining shares should be an option. Shares will generally follow spot price, easy to liquidate and similar risks. NOTE- In my opinion only!

If you don't hold it you don't own it. Lots of stackers have stacks for end of world type scenario to barter/trade with. If things go bad it could happen quickly, good luck getting your metals then.

Due your diligence and don't put all your eggs in one basket.
 
Mud Gecko said:
Agree'd Pelican. OP, if you want to buy unallocated bullion surely precious metal mining shares should be an option. Shares will generally follow spot price, easy to liquidate and similar risks. NOTE- In my opinion only!

If you don't hold it you don't own it. Lots of stackers have stacks for end of world type scenario to barter/trade with. If things go bad it could happen quickly, good luck getting your metals then.

Due your diligence and don't put all your eggs in one basket.
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Could you please name a few trading platforms for shares in Australia?
 
No sorry, I only hold physical metals. But I would be buying small mining stocks to make gains with the rising gold price instead of unallocated, or a bit of both to spread the risk.

****personal opinion and not pro advice. DYDD!
 
If you look at the rates they offer, then Bullion Now is the best value for money. Like GoldStackers, the unallocated gold or silver is held in the individuals name, and is never an asset of the company. They have done some videos on it, explaining it all. Have a look and decide for yourself
 
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