UbonOz Posted August 27, 2013 Share Posted August 27, 2013 Anybody have any experience with this company? Pros & cons would be appreciated. Link to comment Share on other sites More sharing options...
howerde Posted August 27, 2013 Share Posted August 27, 2013 (edited) I use them for buying and selling silver, as there is no 20% vat as you don't physically hold it. i have not encountered any problems,, i'm based in UK, but that should make no difference. Edited August 27, 2013 by howerde Link to comment Share on other sites More sharing options...
dddave Posted August 28, 2013 Share Posted August 28, 2013 Since you do not physically hold the gold; if there is ever a panic run on the market, chances are they won't have enough gold on hand to cover it. Link to comment Share on other sites More sharing options...
UbonOz Posted August 28, 2013 Author Share Posted August 28, 2013 Since you do not physically hold the gold; if there is ever a panic run on the market, chances are they won't have enough gold on hand to cover it.Not sure about that. You can only purchase gold that physically exists. It is allocated gold. Link to comment Share on other sites More sharing options...
UbonOz Posted August 28, 2013 Author Share Posted August 28, 2013 Allocated Gold We believe allocated, insured, overseas storage is your safest way to own gold. Many people disagree with us, and they frequently buy coins to keep at home, but we believe history shows them to be making a serious mistake. Allocated gold is held as your personal property in explicit physical form. It is not used to support a lending program, or any other financial device. It is held away from company balance sheets under a safekeeping, or custody program, so it could not be accessed by a liquidator in the event of company failure by us or the vault operator, because you are the owner, not a creditor. We like allocated gold because it is very well protected from default. Allocated gold should be insured, because it is yours. Curiously, because it is not yours, you do not need to insure unallocated gold, because you would not necessarily have suffered a loss if it were stolen. You suffer a loss with unallocated gold if your supplier becomes insolvent, which is a separate issue. We like holding gold overseas because history clearly shows that gold is at its most relevant during currency crises. These correlate closely to the imposition of exchange controls, which are used by governments to retain gold and currency inside a country in crisis. It's better to store outside the country before a crisis develops. We offer you a choice: Zurich (Switzerland), London (UK), New York (USA), Toronto (Canada) and Singapore. Switzerland is the most popular, though if you wish you can spread your gold to multiple locations without paying an extra storage charge. Link to comment Share on other sites More sharing options...
jmccarty Posted August 28, 2013 Share Posted August 28, 2013 No experience with them but they say they charge you for storage and insurance plus between .02% and .08% per trade. They appear to be legit along with GoldMoney.com and Goldsilver.com I really think gold is overpriced at the moment in any case and was way overpriced a year ago. Still room to go down. When a commodity outpaces world GDP growth by leaps and bounds, the numbers don't add up in my book and expect to see it come crashing back down soon. Hope I'm wrong for people now buying it up. Link to comment Share on other sites More sharing options...
LivinLOS Posted August 28, 2013 Share Posted August 28, 2013 Getting delivery from BullionVault is non trivial.. Secondly theres allocated and theres allocated.. BV sells gold in golg grames and fractions of grammes as part of a larger bar.. While it may be an allocated bar, should anything happen with BV or you wish to have that allocated sent to you, its not possible to ship 56.27 grammes of a 400oz good delivery bar. They do this to keep costs down and offer very tight spreads.. this they do and so that gets sales. Its up to you to decide if thats a big enough drawback to look for someone who offers allocated and segregated storage like goldmadesimple.com in the UK. The more secure the setup, the more costs you end up having to handle. I mix paper gold (leverage) and gold promissory notes (Perth Mint) with physical both in storage and under my own control. Link to comment Share on other sites More sharing options...
stoli Posted August 29, 2013 Share Posted August 29, 2013 (edited) Why do people think that in a time of crisis, all they need to do is grab their knife and gold bar, along with a scale, and only they will be able to buy groceries at 7-11 by shaving the bar of gold? If this is for the aforementioned emergency, what year was the last time this happened? Invest in something that can really help you for the worst that can really happens, not something imaginary. Edited August 29, 2013 by stoli Link to comment Share on other sites More sharing options...
UbonOz Posted August 29, 2013 Author Share Posted August 29, 2013 Why do people think that in a time of crisis, all they need to do is grab their knife and gold bar, along with a scale, and only they will be able to buy groceries at 7-11 by shaving the bar of gold? If this is for the aforementioned emergency, what year was the last time this happened? Invest in something that can really help you for the worst that can really happens, not something imaginary.What do you suggest?One if my pet hates is banks. I choose to keep funds elsewhere. Link to comment Share on other sites More sharing options...
yoshiwara Posted August 29, 2013 Share Posted August 29, 2013 Why do people think that in a time of crisis, all they need to do is grab their knife and gold bar, along with a scale, and only they will be able to buy groceries at 7-11 by shaving the bar of gold? If this is for the aforementioned emergency, what year was the last time this happened? Invest in something that can really help you for the worst that can really happens, not something imaginary.What do you suggest?One if my pet hates is banks. I choose to keep funds elsewhere. Right then, do what the wise guys do in Thailand, put a safe into the ceiling or floor of their small apartment and wait for the end of the world. Link to comment Share on other sites More sharing options...
midas Posted August 30, 2013 Share Posted August 30, 2013 Why do people think that in a time of crisis, all they need to do is grab their knife and gold bar, along with a scale, and only they will be able to buy groceries at 7-11 by shaving the bar of gold? If this is for the aforementioned emergency, what year was the last time this happened? Invest in something that can really help you for the worst that can really happens, not something imaginary.What do you suggest?One if my pet hates is banks. I choose to keep funds elsewhere. Right then, do what the wise guys do in Thailand, put a safe into the ceiling or floor of their small apartment and wait for the end of the world. Or if you have a tiny apartment you could do as the Indians are being invited to do, which is to sell their gold to the government India might buy gold from citizens to ease rupee crisis http://www.reuters.com/article/2013/08/29/us-india-economy-gold-idUSBRE97S0IW20130829 Link to comment Share on other sites More sharing options...
Naam Posted August 31, 2013 Share Posted August 31, 2013 India might buy gold from citizens to ease rupee crisis the roaring laughter of Indian citizens could be heard in neighbouring Pakistan and Bangla Desh. Link to comment Share on other sites More sharing options...
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