Note: Please consider that the PGM (Pt, Pd, Rh) content might change from one catalytic to another (with the same serial #) due to its condition affected by mileage, weather conditions, etc. *Assay made with Niton XLT3GOLDD+
Why Do People Store Gold Offshore?
I received this mail from Paul Tustain, Founder & Chairman of BullionVault, and I found it to be an interesting topic for the tip of the week. I have added one personal insight at the end of this piece.
Opinion on gold storage is extremely polarised. Almost exactly half of the world’s gold buyers strongly prefer to store gold at home, because they trust domestic property rights, while the other half strongly prefer to store it abroad. Surprisingly this ratio is consistent regardless of which country people live in.
This is why – uniquely among retail gold providers – BullionVault provides a storage option in five separate jurisdictions: UK, Switzerland, Singapore, Canada and the USA. This gives BullionVault users the choice of five storage locations.
On BullionVault you can switch between vaults in a few seconds, by selling in one and buying in another [you can only do this where settlement is instantaneous, as it is on BullionVault]. And because all our vaults are operated by LBMA accredited vault operators you can also arrange for shipments of whole bars direct from vault to vault.
These are some of the ways in which BullionVault has been set up to give you the storage flexibility you need to stay secure.
At BullionVault we believe increasing economic imbalances pose a significant threat to personal wealth. It is for you to judge the threats to your wealth, the alternate strategies, and the potential benefits of gold, and to decide for yourself what to do. If you make the decision to buy gold we are here to provide exceptional value for both your purchase and your ongoing secure storage, and to see that it is you who benefits if your decision to own gold is a good one.
An additional point, that can be a game changer, is the fact that in some countries, as a private investor, you must pay VAT as well as taxes on revenues from selling gold. In these cases, buying and storing gold offshore not only diversifies risk but also saves money in taxes.