International Precious Metals Depository And Accounts
Allocated Or Unallocated Precious Metals Accounts?
First of all let us define allocated and unallocated precious metals accounts. If you have an allocated precious metals account then you own a designated amount of coins or bars that are yours but held for you. If you have an unallocated precious metals account, then you have a certificate that shows you how much the metal depository owes you, but you own no designated coins or bars that you could visit or hold. Allocated versus unallocated precious metals accounts - which are best?
If you look into the Perth Mint program that offers both allocated and unallocated precious metals accounts, the government backing and reputation is very attractive. They use a similar structure to SGPMX where they have approved dealers throughout the world to facilitate the client's transfer of currency to metal. Click on orange to get access to our international and offshore precious metals accounts introduction package.
One person said, however, that the one big thing missing with the unallocated precious metals positions was the comfort of knowing that his metal would remain his metal. He says that the way their program reads seemingly leaves it up to their discretion. He also mentioned it was nice to be able to visit your metal and maybe write off the trip.
With the Perth Mint liquidity would not be an issue, but what if you wanted to move metal out, and maybe bring some back to your country at some point? This person claims they did read a forum some time back where a client had been waiting over three months for delivery of their physical metal back to them from the Perth Mint. Obviously there could've been a host of variables out of the control of the Perth Mint.
Looking at the allocated Perth Mint Programs, the Perth Mint “allocated” storage fees are also really expensive. Compare these “allocated” gold account storage fees below:
- BullionStar: 0% (zero percent)
- GoldMoney.com: 0.12%/yr
- BullionVault.com: 0.12%/yr
- Perth Mint allocated: 1.00%/yr
If you wanted to diversify your no storage fees holdings, you could go with Perth Mint “unallocated”, where there are no annual storage fees, but then you just own paper gold, and you don’t legally hold any physical gold. If Perth Mint were to go bankrupt, you would be exposed. At least BullionStar is allocated with no storage fees.
Keep in mind also that the Perth Mint is not backed by the national government of Australia. It’s backed by the government of Western Australia, which is more like a state government. And the government of Western Australia was recently downgraded by both Moodys & S&P, and is no longer a AAA rated entity (it’s now rated AA+/Aa1)
http://www.watc.wa.gov.au/home/investors/
http://www.smh.com.au/business/national-business/western-australias-aaa-credit-rating-downgraded-20140826-108dm7.html
But the risk with Perth Mint “unallocated” is still pretty low. It might be okay as a third or fourth global diversifying option, If you already have “allocated” physical gold with BullionStar (Singapore location), Goldmoney (Switzerland location), or in a private vault safety deposit box.
Either way, if you go with Perth Mint “unallocated”, then once a year, you’d probably want to check on the credit rating of Western Australia, to make sure it hasn’t dipped into the BBB level or lower.
For example, when the Cyprus banking sector collapsed, the Cyprus banks went through a series of credit downgrades from A > BBB > BB > B > CCC > Collapse, in a matter of 18 months.
Unallocated Perth Mint certificate metal can be a component of PM holdings (but not the core). At some point, the PMs will experience a significant rise in price; at that point, it is the Perth Mint paper metal that you could sell. The actual physical that you hold can go to your heirs, since you probably will have no plans to sell it, ever, or at least not under the current monetary system.
Congratulations! Your BullionStar account has been opened! This is the message I got when I opened my account at BullionStar. You also get free Vault Grams of gold or silver when you register an account with BullionStar.
"Your account is now open" is the first message I got. Then they said: "Congratulations on your 10 free Vault Grams of silver received for registering an account! Read more about how to use your free Vault Grams here. Go to "Buy Gold & Silver" to place your first order or go to "My Vault Storage" to trade your Vault Grams.
By registering an account, you will be assigned a personal customer service rep. that you may contact if you have any questions about BullionStar or if you would like to discuss precious metals or the economy in general.
BullionStar is your trustworthy supplier of precious metals. They offer you a wide range of investment-grade precious metals as well as different shipping and storage solutions.
BullionStar offers everything from small coins to large bars for gold, silver and platinum. Most of their customers buy precious metals as investments, but their products are also ideal for giving away as gifts or for collecting.
BullionStar also provides you with information about the precious metals market and industry. They update you on what is happening in the world of precious metals through their editorials, news and articles.
By registering an account you have access to the following services:
- Buy, sell and trade precious metals - You can buy, sell and trade products from BullionStar for physical delivery or for storage in our storage solution called My Vault.
- Store in My Vault - Trade and store allocated physical precious metals in My Vault. When you register an account, you will receive 10 free Vault Grams that you can trade today in order to familiarize yourself with My Vault. You can choose to either trade and store fully allocated, but unsegregated Vault Grams of gold, silver and platinum, or choose to store specific products that you have selected yourself.
- Transaction history - You can view your order history for all products bought and sold.
- If you have questions, please see the help section on their website or contact them.
On the 8th of September 2015, BullionStar allowed customers to add and keep currency in their BullionStar accounts.
As a BullionStar account holder, you are now able to keep liquid currency funds within your BullionStar account in Singapore Dollars, US Dollars and Euros.
Keeping currency funds in your BullionStar account will greatly simplify trading in and out of bullion positions as well as making it easier to stay liquid without involving bank transactions. This will speed up the transaction flow within BullionStar as well as save you repeated and costly bank fees.
When selling bullion to BullionStar, you have the option of keeping the funds within your BullionStar account to re-purchase at a later time. You can keep funds in your BullionStar account as long as you like and you can withdraw the funds at any time.
You will be able to check your balance, fund your account, and withdraw funds under "My Account" after logging into your BullionStar account.
It is completely optional to fund your BullionStar account prior to making purchases. If you want to, you can place your precious metals order, lock in a price, and settle orders by sending the wire transfer after you lock in your purchase. Click on orange letters to get access to the international and offshore precious metals accounts introduction package.
U.S. Citizens and residents click here for a special package designed specially for you.
Disclaimer and Warning: U.S. citizens and residents can not purchase an introduction to these precious metals accounts from us. We can not service U.S. citizens or residents. We are very sorry for this restriction.
