Bullion Direct files for bankruptcy

I've never trusted storage. That, and it's a rip off in any case i've looked at. 1-3%/yr to store. I don't think so. Buy a gun safe and put it in your basement.

 

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Ishares even sounded better to me. No storage fee and they can be sold very quickly. I invest more in Ishares but I do have on hand bullion.

 

A safe deposit box is an affordable way to store gold. Maybe not so much silver, since there's the bulk issue, but you can still fit several hundred ounces into a small safe deposit box (I have done it). Some folks don't have a basement or even a place to "safely" install a safe.

The key hook these companies are exploiting is the "tax shelter" of the IRA, where they allowed people to buy gold with pre-tax dollars and lower their AGI - which requires a government controlled/monitored holding account and facility.

Because people can't be trusted to save for their own retirement (I guess?), and if you let the government meddle in your finances just a bit more - they'll give you a discount. The benefit (for them) is that they built a whole lot of government jobs/bloat on the premise that they would help you retire. Probably because they've done such a great job with Social Security - they figured they'd expand their ranks.

"For a hamburger today, I will gladly pay you Tuesday" comes to mind.

 

At the rate physical banks are becoming obsolete, I'd start thinking now about alternatives before you get nickle and dimed to death on fees.