Bullionvault.com

[diorwing]

I'm sure many members have heard of this concept,buying bullion and paying to have it stored.
Has anyone used this site?
It seems legit,interested in your feedback.

[Claimjumper]

I did open an account with them in Oct, 2008. They give you 1 gram of gold, one dollar, one Euro, & one Pound, to get you started (free). I transferred $100.00 to them just to see how it went. Then, for some reason I just forgot about it. So, I just took a look at it & here is a clip from the statement for August 2011.
10477
I do appreciate the free gold. I think they are a good outfit but for some reason my close friend placed a lot of money into gold at http://goldmoney.com rather than Bullionvault.
The Perth Mint will hold "allocated gold" for you. I wouldn't go near their certificates though, & I've worked with a mint in Brisbane that has an insured depository they work with. They store everything from old cars, to paintings & jewelry, in there.

[diorwing]

Thanks for your reply.
So what are you going to do with all your profits?

Any reason why your friend chose goldmoney vs bullionvault?

[AceNZ]

I know a number of people who have used BV. Very reliable. Highly recommended.

[AceNZ]

Then, for some reason I just forgot about it.

Were you ignoring the statements they send you every month?

[phideaux]

I've had a BV account for about 5 years. They are 100% first class and trustworthy IMHO.

I too hate to look at the statements because that would tempt me to sell.

The only problem is that to open the account you have to give them nearly your entire life history including your mother-in-law's shoe size and the color of your first grade teacher's favorite dress. That's a slight exaggeration, but not much. Because the British anti-money-laundering and "know your customer" laws are so extreme, the account application is about 10 pages long.

And even more extensive paperwork is required if you have to change the US bank you have linked to your BV account.

[vintage collector]

I don't get it. Why would anyone let them hold your gold? What is the benefit and how do you get your gold if the SHTF???

Would you get a wire transfer of electronic numbers of paper money and they would keep all the gold? :bird:

Maybe I am missing something. Please educate me.

[phideaux]

I don't get it. Why would anyone let them hold your gold? What is the benefit and how do you get your gold if the SHTF???

Would you get a wire transfer of electronic numbers of paper money and they would keep all the gold? :bird:

Maybe I am missing something. Please educate me.

The basic idea is geographical and political diversification. BV, GoldMoney, and other similar services are outside the reach of the US Federal Goobermint.

You have a choice, your gold can be held in private, insured and audited vaults in London, Zurich, or Singapore.

It's not a perfect solution, but it works.

[AceNZ]

BV, GoldMoney, and other similar services are outside the reach of the US Federal Goobermint.

That's a bit of a stretch; don't fool yourself. The companies may not be based in the US, but the Feds have a very long reach.

[phideaux]

That's a bit of a stretch; don't fool yourself. The companies may not be based in the US, but the Feds have a very long reach.

If BullionVault was a bank, I would agree, but they're not. They are a private depository.

[Gcubed]

If BullionVault was a bank, I would agree, but they're not. They are a private depository.

Swiss banks are chartered by a sovereign nation. :flute:

[diorwing]

I don't get it. Why would anyone let them hold your gold? What is the benefit and how do you get your gold if the SHTF???

Would you get a wire transfer of electronic numbers of paper money and they would keep all the gold? :bird:

Maybe I am missing something. Please educate me.

You can redeem your bullion,but there are fees and shipping costs of course.
Silver has a 20% VAT if you redeem,none for gold.
Commissions are low,about .8% per trade.
Storage fees are reasonable also.

A good idea for people who are uneasy storing their own PMs?

[AceNZ]

If BullionVault was a bank, I would agree, but they're not. They are a private depository.

And yet they still have to comply with money laundering laws (among other things).

[fat panther]

FWIW

The issues boiled down to premiums to be paid and securing my investment. I got really exotic with my ideeas and investigations. Had issues with some monies in US IRAs..

After an awful lot of running treadmills, I finally looked at how much money I was actually talking about (only 100's of thousands), not bragging or complaining, and realized that simply buying coins and bars suited me just fine. Most of us are not warren buffet. KISS, it will work, and NOBODY knows what you are doing! That is key for me.

Sorry to be critical, just hope it helps

[argentos]

Swiss banks are chartered by a sovereign nation. :flute:

Sovereign Nation like Afghanistan, Iran, Libya or Pakistan (to name but a few)? :biggrin:

[Unca Walt]

What part of the oft-repeated TRUTH:

"If you don't HOLD it, you don't GOT it."

...escapes you?

Frequent exposes of fraudulent gold-holding outfits are published. Now you are looking at one that HASN'T YET (to your knowledge) joined the others.

Bad fargin odds, bro. Bad odds.

[fat panther]

Swiss banks are chartered by a sovereign nation. :flute:

Hi, cube. Where you and Zed been hangn'?

[Gcubed]

Hi, cube. Where you and Zed been hangn'?

VoIP for the most part.

[southfork]

I only trust two people in life, you and me, and sometimes I have doubts about you, I dont trust part of the system to hold my mercury dime.