Interesting!

[Scorpio]

Apmex now has a separate storage company for pm's. With free shipping to it. They say you retain ownership of the exact items your purchased.

------


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WITH STORAGE FROM CITADEL

Your precious metal assets deserve storage from a trusted source with complete documentation, ease of access, and delivery when you need it.
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¹. Offer expires March 31, 2012. In order to be eligible for the 3 month free offer, the Citadel account must be opened by March 31, 2012.
². The 3 month free offer begins at the date of your “first storage”. For example, purchases made on April 1, 2012 will be stored as ‘first storage’ for free until July 1, 2012. Any subsequent purchases after April 1, 2012 will be stored without charge only through July1, 2012. The 3 month free storage offer applies to new purchases of APMEX products only, and purchases must be made within 90 days of opening the Citadel account. This offer does not apply to previously purchased items. Shipping new purchase(s) to the Depository is free. Withdrawals of stored products during the 3 month free period will incur normal shipping and handling charges. Once the “3 Months Free” promotion ends, the account will be charged normal storage fees and minimum charges may apply. Only one promotion is valid per account at anytime.


APMEX
Questions? info@APMEX.com
Shop our mobile site at www.mobile.APMEX.com
Call to speak to an account manager: 800.375.9006


Copyright (c) 2012 APMEX, Inc.
Our address is 226 Dean A McGee Ave, Oklahoma City, OK, 73102-3413

[Scorpio]

you guys already know how I feel about holding your own,

but there are some who may not be able to do so, apartment living, etc.

it may be an option for them, but you have to have your eyes wide open, find out if it is insured, by whom, how much, etc. While also asking who has access to it, who can have access to it under court order, etc.

This would be better than a bank deposit box, but how much better? How about someone in a divorce, who knows about it, etc.

In other words, the old adage still applies,

loose lips sink ships

and

If you don't hold it, you don't own it

Keep Stackin'

[Meetzos]

Gainsville Coins has a similar offer. I think they came out with it about a month ago.

[StateofJefferson]

Miles Franklin is doing this with two depositories, one in the USA and one in Canada.

[<===Foolsgold]

Safe, Secure and Private as a Swiss Bank account (LOL)

[Gcubed]

Safe, Secure and Private as a Swiss Bank account (LOL)

I'm waiting for the Monex style margin account.

[<===Foolsgold]

I'm waiting for the Monex style margin account.

It's like the old Rodney Dangerfield line, take my wife...please, only different.

Take my money....Please.

[<===Foolsgold]

Before I get drawn and quartered for bad mouthing our sponsor....I have spent more money at APMEX than anywhere else.

[southfork]

I think I'll stick with the boat thing.

[TomD]

It didn't mention whether the storage is coded to your SS#. If it is, the storage has all the disadvantages of a safe deposit box plus a couple of extras but no advantages at all that I can see. Cost maybe but my SD box costs me $20 a year.

[ralleia]

It didn't mention whether the storage is coded to your SS#. If it is, the storage has all the disadvantages of a safe deposit box plus a couple of extras but no advantages at all that I can see. Cost maybe but my SD box costs me $20 a year.

And at least with a SD box you can drive over and hold it once in a while.

In remote storage, it is sight unseen.

Not suggesting that the custodians aren't totally trustworthy, but I'm a visual and tactile creature...

[andial]

On a trust scale from 1 to 10 I would give Apmex an 8 as far as storing my metal. The Comex or any other wall street firm would rate a -10, not even in positive territory.

[Scorpio]

I do find it interesting though,

as in a perfect hidey hole considering the right circumstances, or as a backup plan, like toss 100 oz of silver there,

as TD pointed out, what are the parameters on the front side, and the back side,

as in, hidden in plain sight

or another option, what if they allowed you and only you, to loan against your metal, then you pay the dough back over time, while retaining your metal. How many out there have sold metal to do something in life? Only to regret it later. What if you had the capability to get your dough from yourself without ever losing your metal? The risk quotient could be covered by them whereas if the metal declined by x, you either make up for it toot sweet, or they sell off product to alleviate the issue?

There are some ideas jingling around in my head that may help out the metal heads in a good way.

S

[GodspeedMetals]

I can't imagine with all the costs of doing business, someone would want to hold your PMs as a stand-alone business. There are a few businesses / depositories that do this (storage, escrow, etc), but just doesn't seem viable unless there's a catch or your costs will be low.

Storage space, equipment, locks, employees, security, marketing, sales, insurance, yada yada. And the metals are just sitting there??

I hate to accuse anyone of wrong-doing (giggles), but this doesn't pass the smell test.

[hoarder]

I can't imagine with all the costs of doing business, someone would want to hold your PMs as a stand-alone business. There are a few businesses / depositories that do this (storage, escrow, etc), but just doesn't seem viable unless there's a catch or your costs will be low.

Storage space, equipment, locks, employees, security, marketing, sales, insurance, yada yada. And the metals are just sitting there??

I hate to accuse anyone of wrong-doing (giggles), but this doesn't pass the smell test.

Maybe Citadel plans to "lease" some of the metals they store.

[REO 54]

Miles Franklin is doing this with two depositories, one in the USA and one in Canada.

Where in Canada? East side or West?

[GodspeedMetals]

Maybe Citadel plans to "lease" some of the metals they store.

Precisely.

[Malus]

People seem to have a lot of trust with entities they have never met or known. "Trust", I reserve for people I have met or done previous "good" business with. Might be old school, but, anything I've put my money in where I have to go on others "judgement" or "reputation" has generally lost me money in the long (and sometimes short) run. Trust your family, friends and neighbors, everything else is suspect........... You've been warned. Be careful who you invest your "blind" trust in.

[EO 11110]

this was a natural progression after opening their nyc operation

holditownit

next? private equity takeout or ipo?

[StateofJefferson]

Where in Canada? East side or West?

Not certain but it might be North Dakota and Toronto

[hoarder]

All other things being equal, if I were to choose between buying PM's from a dealer who offers storage or even suggests not holding it personally and one who doesn't, I would choose to buy from the dealer who doesn't.

[Goldhedge]

You know what's really interesting? I just began storing PM's for people too.


PM me and I'll give you an address to send it to...

[platinumdude]

If I had to choose between this or a safety deposit box, I think I would choose the sdb. Reason being, I could get physical access to it right away in case of a personal emergency. Also being able to see the metal when you want is more comforting, at least to me.

[d-lod]

Gainsville Coins has a similar offer. I think they came out with it about a month ago.

Sharks have tested the blood

[REO 54]

Sharks have tested the blood

They have "tasted" it indeed....

[Not Sure]

If I were to trust a company to store my valuables, APMEX would be in the running.

Operative term is "if."

[~BS]

lol...

form separate company why? to limit their liability?

Honestly, a decent alternative to hold a small portion of your stash (diversification and all that), but not something I'd bet the farm on. IIRC apmex is located at an old fed building, so I'd imagine that they have access to a large vault setup.

[Fiat Metaler]

It didn't mention whether the storage is coded to your SS#. If it is, the storage has all the disadvantages of a safe deposit box plus a couple of extras but no advantages at all that I can see. Cost maybe but my SD box costs me $20 a year.

well said.

one possible advantage would be insurance and a third party record of what is in the box but in general i agree with you. with a bank your lease limits their liability, usually about 100X your annual rent.