Minyan Mailbag - Purchasing Gold Bars
Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.
Do you have any contacts I could use to buy full size gold bars (400 oz, London Good Delivery). I have a client that is interested in purchasing and storing in size at these levels. Any help would be appreciated.
Also, II look forward to seeing everyone again at the next Minyanfest.
If it is to be stored out of one's control (which I do not recommend) then the Perth Mint (Govt g'tee for what it's worth) is a great place for unallocated bars. My old mate, Roy Edmonds who I've known and dealt with for 10 years, should be able to fix it all up. I haven't dealt with him for a year or so but I'm sure he's there still. A good South African lad.Tell him you're a mate of mine and all will be sweet. Spot rate at the time will be the price.... allocated costs about 2% p/a but you get bar numbers etc and they can't lend it out or anything else that I despise.
Think about who has control of it and ask yourself why you don't take delivery yourself through comex contracts... get a bank rated safe and some big friggin weapons which would be less than 2% storage I guess!
HSBC London is also good from all accounts, but I have never dealt with them in physical...
I have no relationship with them apart from as a customer occasionally, nor do I receive anything from them for any referrals etc .. I don't give a bugger if you deal with them or not. I just love hearing about someone looking for the real stuff!!!
In the interest of transparency.
Just my 2 aussie cents worth...
The folks at SafeWealth Services (Switzerland) SA (email@example.com) provide this service (and a host more that are in the same vein) for a reasonable fee. I'd encourage you to query them to see how they compare to Laurie's folks.
Just a quick point to Laurie: the benefit of having it domiciled outside of the U.S. is that one can never outgun the U.S. Gov't. If the 'benevolent' Roosevelt was able to steal the nation's gold without shots being fired, I suspect the possibility of it happening again are real. Just a thought...
In the U.S. use Monex, 4910 Birch St., Newport Beach, CA 92660 (800-949-4653 ask for Peter).
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter