/biz/ - Business & Finance

>>1203392
buy your own vault and store it in your house. If you wanna get creative you can bury it in concrete in your basement

>>1203392
The real question is why the fuck would you drop 200K on gold/silver?

>>1203392
The US government can and will seize your precious metals.

https://en.wikipedia.org/wiki/Executive_Order_6102

Only safe place for precious metals is in a safe bolted to your basement.

>>1203407
Diversification.

>>1203404
Renting. I move house, and travel a lot. Also had more than my fair share of break ins while abroad.

>>1203410
I don't live in America.

>>1203411
I would never trust a bank deposit box to hold something like that, Maybe you have a trusted friend that has permanent residence?

>>1203415
I'm not trusting the bank.

I'd either be trusting a private vault box company, or a private gold/silver selling company.

>>1203392
I have an account with BullionVault.

You don't get physical possession of the gold (it's stored in vaults run by VIA MAT) but the gold is fully allocated in your name. They have vaults in multiple countries and you can choose which vault in which your gold is stored.

Also, they do allow withdrawals of bullion in the form of good delivery bars or 100 gram bars.

I've had my account for over eight years and I believe them to be an honest business. I have a six-figure dollar value of gold with them.

>>1203492
Thanks!

Could you tell me a little bit more about it?

Are there any ongoing fees?
One time fees?
Withdrawal fees?

>>1203410
it should be executive order #66

>>1203841
There are storage fees, of course, but they are quite low. Something like 0.15% per year.

There are two ways to get your gold out of BullionVault: 1) sell your gold and then transfer the money to your bank or 2) take physical delivery.

I believe that with the exception of commissions for selling in #1, transferring the money to a bank is free.

Taking physical delivery costs money. It appears to be 1% for the gold and 2% - 5% for insurance and transport. I don't know if you could not pay the insurance and transport fee if you pick up the bullion yourself.

Their web site fully lists all fees and commissions. Check it out.

https://www.bullionvault.com/help/tariff.html

Invest in an index fund, government bonds and some good stable stocks from companies you understand. Give yourself a 10 year horizon and you'll get into the millions without a doubt. Gold won't do SHIT just sitting there. Stocks will actually make you money. If you want to hoard gold that's fine, but it won't make you any money whatsoever and the yield on it is shit.

>>1203414
Abcbullion is Australian. Australia had a similar gold confinscating law.
>In Australia, part IV of the Banking Act 1959 allows the Commonwealth government to seize private citizens' gold in return for paper money where the Governor-General "is satisfied that it is expedient so to do, for the protection of the currency or of the public credit of the Commonwealth." On January 30, 1976, this part's operation was "suspended".

>>1203392
I think it would be cool to have a few gold bars laying around the house to use as free weights. Maybe melt a bunch of them down and make a real weight set or some kettle bells.

>>1205014

>>1203392
Governments have recalled gold from public ownership before. Put it in a box. If its on paper you will never see it.

>>1205540
second this

>>1204939
Thanks. I've signed up and will be buying some silver and gold with them.

>>1205540
>>1205586
Will also be getting some physically and putting in a box.

>>1206068
I stored my golds at silverbullion in singapore. They store your real physical gold there instead of just numbers on paper.

>>1203392
It'll be confiscated either way when the shit hits the fan.

So you are really only paying the company for security so that your house doesn't get raided. Of course, you are also paying the company to actually give you your gold back and not trade it off in some scam or the other.

Just buy land.