Anyone Else Have An Account With BullionVault?

Sequitur

Just curious if anyone else is with Bullionvault. I have an account and allocated gold in Zurich and silver in London.

goingbroke

My acount is with Myvault!

Geotovore

Sounds interesting, and will check it out.

Justacommeman

Smoeone needs to say it. You don't own gold unless you take possession of it. MJ

CaptHenway

<< <i>Smoeone needs to say it. You don't own gold unless you take possession of it. MJ >>

cartermurph

+1

57loaded

yeah, just a dabble

Sequitur

What if you don't feel comfortable storing gold -- and I mean a decent amount of it -- at home? I don't disagree that actual, physical gold ownership is the best confirmation you do, in fact, own it. Also know there are some threads about home storage.

I don't want a lot of precious metal sitting in the house just waiting to be robbed, or a fire to destroy PM savings. A home safe is minimal protection. You've heard the arguments before, e.g. what good is a home safe when a criminal has a gun pointed at you or your family, etc.

So what are you people doing. Safety deposit boxes? I looked at a number of options for remote physical custody and BullionVault appeared to have very low fees, came with a number of recommendations from PM investors, and had the benefit of allowing purchase and storage in overseas vaults and can be quickly converted to the major currencies (dollar, euro, and pound). Does anyone have any other recommendations for trustworthy remote storage?

gsa1fan

Mine's in my SDB. The storage is $75 a year. My coins are in there too

You can get a boat load $$ of gold in the smallest box 3"x5"x24" which is $25 a year.

Sequitur

Any opinion on which banks are best for safety deposit boxes? I used to have one at Union Bank of California, and even had their premier "signature" account, which I think got me a free box, free certified checks, and a number of free wires per month. But UBOC sucked horribly -- bad hours, bad rates, and I mean rates that lagged the rest of the country at times.

I hate the TBTF (too big to fail) institutions. And my credit union doesn't have safety deposit boxes. So what's a good, solid California state or regional bank that isn't on the FDIC hitlist?

57loaded

SDB here, too and you can get a lot of $$$$ in bullion in an SDB unlike silver.
there is nothing "wrong" with bullionvault in regards to these types of buying/selling storage facilities.

there is also the KITCO pool, which i haven't partaken

bank take overs have nothing to do with the SDB's. if "A" bank took over your bank it would re-open under the new ownership.

there may be some time in the future when the tendency would be to flee banks and your SDB altogether, just have enough lead shot for the rifle

ranshdow

I had an acct with GoldMoney back in the day. Never had any problems with it, but like MJ the whole non-posession thing eventually weirded me out to the pt that I sold my gg.

I regret that, as in essence I sold two physical oz. for the equivalent of little better than $400/oz..

ttown

These accounts have their place (allocated physical). If you have a roll-over IRA it's one way to invest in bullion when you can't touch the money until retirement.

Justacommeman

No question every sitution is different. I guess it all boils down to why you own it to begin with. I would never feel comfortable owning all of my gold and holding it in a BullionVault etc. How do you know you will be able to get to your gold when you really need it? I'm talking a SHTF scenario where everybody would want it at the same time.

Personally, I use two SDB's in the states and one in the UK and one in Hong Kong. The one's in the states I use my bank and another bank that I don't have an account in. One's a small local bank and the other is a national bank. I also keep a small stash hidden.

As for IRA custodial accounts, it is what it is................MJ

Konahead

<< <i>My acount is with Myvault! >>



Amen, I want to know where it is and in my complete control. Myvault works great! And the branch close to me