Direct Into Storage, That Is

In the past I’ve talked about passbook-type accounts, like the general public Bank silver investment, that are aimed at tracking the spot price of valuable metals but ultimately be redeemed in the federal government issued currency in play. Instead of passbook accounts “linked” to yellow metal, you can pick to buy bullion direct from entities that will store the steel on your behalf. I like to get my steel at hand, but some people want others to guard it and prefer to buy bullion immediate from companies that inherently store the bullion within their business model.

Buying bullion direct from a person who sets it aside for you is way better, Perhaps, than putting money in a merchant account that is supposed to mimic precious metal price techniques. Note that when you get bullion direct in one of these suppliers, you will usually choose between pooled accounts (general storage space) and allocated accounts (where your metallic is set apart with your name on it).

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Theoretically, all the metal is anyhow said to be there, so it technically shouldn’t matter which you go with. But, being the realist that I am, I’m nervous about there not being enough metal to go around. You can sell certificates. And if it’s all “there,” many of these planned programs are permitted to provide their silver out.

What happens in a mass redemption and some of the loaned metal never finds its way home? I must believe the allocated accounts would receive a number of priority, which the missing goodies would result from the universal stash. Having said that, and even though you can inform I’m not crazy about buying bullion direct from these programs, I at least want to present one to a few so you can make the best decision. 7,500 minimum with an allocated account.

Check for current trading fees, storage fees, conversion fees if you want physical possession at some point, and delivery fees. Yes, the fees. You can also take a look at GoldMoney and BullionVault but note that physical delivery minimums are no unique of ETFs, so you have to be prepared to take delivery of a 400-ounce bar!

If you insist upon a certificate program, my favorite is the Perth Mint Certificate perhaps. I want to reiterate, however, which I am not personally committed to this, neither do I see that happening. At any rate, this is actually the only bullion storage arrangement backed with a national government, in this case the state of Western Australia.