royal mint and bullion vault

[kantire]

Hi there,

I completely new to bullion purchasing so any advice that could help on this steep learning curve would appreciated.

I understand the benefits of buying and storing bullion personally but was also interested in finding out if the royal mint prices for gold and silver storage are worth it if I decide to store it there.  The trade off of security for their fees are where I'm not sure if it's worth it or not.

Has anyone any options on bullionvault?

I am voraciously reading everything I can find online but sometimes it helps to have a helping hand.  I appreciate your patience with a newbie but I hope to be up to speed asap with your help

[trp]

RMB’s fees are 1% per annum + VAT. (Hopefully you already have their bullion account if you are considering storage as they have been notoriously difficult to set up in the past their systems aren’t the most intelligent).

I don’t do storage so I don’t know if that’s a good deal or not!...but as a example £1,000 of PM over the year will cost you £10 + VAT = £12.

If you owned physically, a privately run safety deposit box would cost you more.

Haven't looked at BullionVault for a long time but I believe it’s less than RMB for storage.

It’s hard to measure security over anything you don’t have control over, and why I personally prefer to hold myself responsible and hold what I own physically.

Many here will have differing opinions, but it’s what you are comfortable with! 

[5huggy]

5 minutes ago, trp said:

Many here will have differing opinions, but it’s what you are comfortable with! 

NOPE totally agree @trp

[Tattoedamat]

Biggest issue with any vaulted bullion is the amount to pay to retrieve if want it in hand... I made that mistake last year they charge a % of total asset to deliver, plus postage costs which can seriously mount up.  Most will offer free delivery on larger amounts or at least it will be a conciderable amount less than storage retrieval fees

[Uksilverstackers]

I think RM also charge VAT except on gold. They only recently introduced this. Certainly on their Signature product which is stored.