PM Storage Companies.

[Cointreau]

Does anyone else here use them? I have some metal stored in vaults for me by Goldmoney which is run by James Turk.

There is also Goldsilver (Michael Maloney) and no doubt a few others. I have metal stored in Switzerland and Singapore and it is a way of spreading risk and having wealth stored outside the UK.

[Danny-boy]

I'm afraid I don't have enough to spread around the world.

Any I do have would need to be 5 mins away from my house, I like looking at it too much!!!

I assume storage for delivered physical is pretty expensive unless you have a massive stack.

[motorbikez]

Not me buddy, I have looked at it in the past and decided against it,3 reasons 1 cost, 2 the juristrictions  outside the UK may be no safer,3 I like to look at my coins fairly often, although I do have my bullion stuff 500 odd ozs silver stored elsewhere, Location stored with my will at my solocitors.

[Danny-boy]

Location stored with my will at my solocitors.

MB, do you mind me asking if they charge a lot for this service?

[motorbikez]

No my solicitor charges nothing, They hold my will and a few other letters with it.

 

I know some do charge to hold say your house deeds but most don't

.You should have no problems in Brum getting your will held free,and a few bit of paper with it.You can get a fairly simple will drawn up for less than £200.

[Keithoil]

I have mine stored away form the house, and it can be retrieved within the hour. I looked at storing it once but decided against it as any bank vaults or PM storage I would deem to difficult to get at in an absolute emergency, but that's just me.

 

Not much use in another country in a SHTF scenario unless you have a private jet fueled and ready to go!!

 

If its stored like that then there will be records kept somewhere.

 

Keith

[motorbikez]

I agree with that Keith all of it, I too have my bullion coins stored within 20mins of my house.

[Danny-boy]

No my solicitor charges nothing, They hold my will and a few other letters with it.

I know some do charge to hold say your house deeds but most don't

.You should have no problems in Brum getting your will held free,and a few bit of paper with it.You can get a fairly simple will drawn up for less than £200.

I have a will, but it's stored at a relatives house.

Never really thought of putting it with a solicitor to be honest.

I'll have a think about it.

[Danny-boy]

I agree with that Keith all of it, I too have my bullion coins stored within 20mins of my house.

I relocated my safe out of the house last week, just had a little girl and the less attraction to intruders the better.

[Cointreau]

I'm afraid I don't have enough to spread around the world.

Any I do have would need to be 5 mins away from my house, I like looking at it too much!!!

I assume storage for delivered physical is pretty expensive unless you have a massive stack.

Storage fees are negligible and you avoid VAT on silver so long as you don't bring it home. Win win.

[Keithoil]

I have a will but it does not mention the PM.

 

I just do not want any chance the government could find out, just imagine them making you children pay tax on your collection B$%%^&*s to that, make you turn in your grave

 

Instructions have been let with my two lads, as to  who gets what etc. There is also a reminder inside the boxes!!

 

Keith

[Pipers]

I was told not to keep mine in the bank vaults as the bank won't let  you retrieve it in an financial emergency.  I was thinking of using one of Gold moneys vaults probably there Singapore vault.what price do you pay above spot for silver?

[Keithoil]

I have just manged to get 16 1 oz coins for £13 each.

 

15 are rounds and 1 2013 Britannia.

 

But it is all pure bullion.

 

Keith

[SilverPirate]

I have just manged to get 16 1 oz coins for £13 each.

 

15 are rounds and 1 2013 Britannia.

 

But it is all pure bullion.

 

Keith

Nice score where from? 

[ChrisSilver]

Bullionvault.com

Allocated silver & gold accounts. You own a share of a physical bar in a vault. If you own a big enough part you can register a whole bar and take physical delivery if you wish.

I don't have an account because I don't have enough to invest to make it worthwhile as the minimum monthly storage charge is something like $8 per month for silver and $6 per month for gold.

Storage fee is 0.1% per year for gold, and something like 0.48% for silver per year.

Transaction costs are 0.5% per buy/sell.

There is no minimum, but if you don't invest enough the minimum charge will end up being a high percentage of your investment. So you need to invest a large enough amount so the minimum monthly charge works out at around those percentages, otherwise it's expensive.

If you have a bit of money and you want to invest in very liquid holdings as close to spot as possible than this is a good option. You can sell out and receive your money the next day. You would find it hard to sell your whole stack in a day. (At least for a good price)

Singapore precious metals exchange http://wwwSGPMX.com you can buy specific coins and bars from their retail shop, e.g 1oz 2014 kookaburra coins, and store them in their vaults. Again there is a similar yearly charge to bullionvault.

The idea of SGPMX is that you can then trade your silver on their exchange. Their customer service was not great as I found they didn't answer my questions directly, specifically questions about liquidity. If you open an account you will notice not a lot of items in the exchange and none of them have actually sold. So not so good now, but in the future when there is liquidity this might be a good option.

You can also send in your own silver for them to store in the vaults in Singapore. You can also trade it on their exchange after you have paid a fee and they have verified the authenticity of it.

GoldMoney http://www.goldmoney.com is similar to bullionvault I believe but you can also send friends silver as payment, similar to paypal but with silver. Also business can accept silver as a form of payment. So this does look interesting. Again I think they have minimum fees but instead of billing you in £ they take off their fee from your holdings in grams of silver.

[Sam]

Always consider if there are fees associated with physical collection of your metal if you have it stored with a third party. Some companies charge a large percentage of the value of your holding if you wish to physically collect it or have it sent.

[Cointreau]

I was told not to keep mine in the bank vaults as the bank won't let  you retrieve it in an financial emergency.  I was thinking of using one of Gold moneys vaults probably there Singapore vault.what price do you pay above spot for silver?

Pipers, I just bought a gram of gold to be stored in Brinks's Singapore vault. The gram cost £25.50 when the spot price per gram was £24.8. So that's 3% above spot. Depending on the size of the purchase the stated Transaction fee ranges from a 2.74% premium down to 1%.

I normally buy bigger amounts than this mind.

Guernsey seems to be an option as well. Interesting that Sam says Guernsey is not part of the UK nor the EU.

I'll have to go there some day soon.

[Cointreau]

Always consider if there are fees associated with physical collection of your metal if you have it stored with a third party. Some companies charge a large percentage of the value of your holding if you wish to physically collect it or have it sent.

Sam, would it be practical to take some of my bullion to Guernsey to have it stored in your vault? I have bought some coins from Bullionrock before when you were Guernsey Mint.

[motorbikez]

I have a will but it does not mention the PM.

 

 

Neither does mine Kieth,it is an additional sealed letter to be given to my son or daughter on my unexpected demise.

[Sam]

Sam, would it be practical to take some of my bullion to Guernsey to have it stored in your vault? I have bought some coins from Bullionrock before when you were Guernsey Mint.

In all honesty it depends on the amount. We have a minimum storage charge of $10 per month. We would be very happy to open a storage account for you. This would also provide the benefit of enabling you to purchase and store VAT free.