Storing Silver at Reserve Vault

[Silver Foxie]

Being a long term investor of gold but newbie to Silver, I decided to jump on board the silver train. As a rule I am a storage at home kinda guy but have decided to try the Reserve Vault despite the bad reviews and mess of the previous owner. So far so good. The service has been great and good people to deal with, and seems amazingly secure. Feels like Maxwell Smart getting in there! Within my self managed super fund I have to store and insure coins as I'm sure we're all aware which is really just a bit painful. Really I just want to be a pirate and store it all in a treasure chest in my backyard.

One thing I'm getting conflicting advice on is the need for an independent audit as well. Does anyone know whether you REALLY need to get this done??

 

[goldpelican]

Ask your SMSF auditor.

I'm regularly asked for "end of year" valuations on SMSF bullion by accountants and auditors - but my understanding is that it should not be required as bullion is not a collectable.

I'm not an accountant though - just the dumb shmuck bullion dealer who seems to be doing hours and hours of non-billable activities at the whim of auditors.