2011 GOLD high $1,500.00, SILVER high $24.00

Not sure what you are looking for in this thread but I'm sure Canada has more than two sources for your needs. I suppose you're looking for Canadian-only sources for your bullion. Have you checked BMG?

 

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BMG appears to be a company that only sells bullion then stores it for you at the Bank of Nova Scotia,the same bank I mentioned currently had no 10 or 100 oz silver bars.
Minimum order for silver is 1000 ounces and no mention on their website in regards to the cost to store.

 

This bill looks like it secretly blinded sided everyone. Dems and GOP.

Even Obama mentioned he didn't like this. It's good not to celebrate too early, I think we are good to go with this one though.

As Cloud mentioned, it will just come back in a different form later so we have some breathing room......

 

It would still be easier if you defined what you are looking for rather than others here making a stab in the dark at suggestions. BMG Storage/Delivery Info

 

BMG appears to be a company that only sells bullion then stores it for you at the Bank of Nova Scotia,the same bank I mentioned currently had no 10 or 100 oz silver bars.
Minimum order for silver is 1000 ounces and no mention on their website in regards to the cost to store.


Read more: http://www.cointalk.com/showthread.php?t=127483&pagenumber=#ixzz1DBzOb2eE​

Costs to Store ???

If you mean paying the company you are buying PMs from being the same entity that stores it for you.................RUN, very fast !!!

NEVER, NEVER, NEVER let a vendor hold your stuff !! That's a classic Ponzi scheme. Besides, gold, sliver, diamonds, etc. are portable. You only own what you possess.

gary

 

Thanks, looks like something I should start researching.

 

Don't you let your bank hold your cash?


=)

 

Obama doesn't like it because the polls tell him he better not like it...for now. I think Cloud is right...it was put there for a reason and will likely return, buried deep in the bowels of some otherwise palatable bill.

 

Most politicians are poll driven.... =)


What kills me is the $600....where did they come up with that number? Why not make it $50 and absolutely collapse our economy from the start so your kid can't even sell lemonade without filling out a 1099.....

It is frustrating for small business owners who will be spending more time with paper work than building a solid business.....

 

Pool accounts are Ponzi schemes? Really?

 

Gary was talking about precious metals, not cash. As long as banks are insured by the FDIC, there's not really a chance that they're going to be like the wildcat banks of the mid-1800s that pulled up stakes in the middle of the night and left their depositors high and dry.

On the other hand, who insures the PM storage outfits? How can you get your deposited precious metals back if they go bankrupt?

 

I understood that he was talking about PM's.


The FDIC has its good and bad as well. By being insured, you think you are being protected if the bank fails or if the bank is careless with their investments right?

So who funds the FDIC? Where does that money come from?

The FDIC will insure you get your money, they won't insure the value of it.

If the FDIC didn't exist, it would cause more banks to be careful with their investments, it will cause people to do a little more research into who they want to hold their money.

Banks are ponzi schemes in that they will loan you money they don't have.....

 

Banks were making bad loans long before the FDIC came into existence. In fact, they made so many bad loans that there were bank runs-- people lining up at banks to try to get their money out in a hurry, only to find out that the banks didn't have any. And if the bank went belly-up, they had no recourse. That's why the FDIC came into existence-- to make sure that depositors wouldn't get left holding the bag.

 

Amen!!

 

Right, and that's the danger that I see. The banks win every time don't they? If they are irresponsible, they get bailed out, if they are irresponsible(without FDIC) the people lose out.....

You can pay your home loan for 29 years but if you lose your job and can't make 12 more payments, they have the nerve to foreclose your home and sell your home to someone else, and start the 30 year process all over again leaving you high and dry...


I don't think it's a good idea to leave your PM's with anyone, if you can't touch it anytime you want, you don't own it. There is no FDIC for PM storage. Just don't advertise where you are holding your PM's.

And certainly, do not put your PM's in "Safe" deposit boxes!!!

 

The problem with letting a vendor hold your gold or silver is that a few years ago during one of the gold runs several companies sold gold bullion coins. ie Maple Leafs, Kuggerands, etc and charged to store them in their vaults. The problem came about when several people claimed ownership of the same coins. Banks I use carry insurance for my cash. I never heard of a bullion broker who was covered by the FDIC.

You do what you want with your money and gold. I feel that gold or silver you don't have access to is not really owned. I happen to use a 24 hour Vault I can access to store part of my holdings and the rest is secreted. I gave you good advice, but you certainly can choose to ignore it.

But comparing FDIC insured deposits to a private company vault holding your bullion is not really the same thing.

gary

 

I'm not sure where the disconnect is, I was simply stating that I don't trust banks or anyone holding my PM's. My PM's are not with a vendor claiming to hold my bullion, I take possession of them.... Anyone that has read my posts here knows that I have always pushed physical possession of PM's.

Unfortunately with banks, we are left with having them to hold some of our money since our daily transactions are in USD currency. So there's really no way out for that, just don't leave too much cash with them.

Next time I will leave my sarcastic and smiley faces to myself since it doesn't seem to convey nicely......

 

FideliTrade Inc. have been in many numismatic related topics as of late because they are a US Mint Authorized Purchaser of bullion products, who have currently opened a retail channel to collectors who are seeking to obtain the new 5 oz. America the Beautiful National Parks bullion coin series.

FT mainly serve physical bullion investors in several ways, one of which is that they offer an Individual Custody Service that is commerically insured:

Regarding that last line of exclusions, do banks FDIC policy insure against same, do SDBs? does your home owners policy protect against any loss?

 

I would be a bit concerned that the insurance doesn't specifically cover corporate fraud, which is the primary risk when using a depository service. If the company sells you gold that never existed in the first place, it sounds like you are just another unsecured creditor at the end of the line.

But I'm not an attorney and haven't read the policy so this is only my concern, and should not be considered fact.

 

First State Depository is another bullion custody service provider which I have linked to in the past on CT. I notice that their insurance policy indicates they use Hugh Wood, also sponsored/recommended by the ANA due to their comprehensive replacement policies for coins and bullion not typically covered under normal insurance companies home owners policies. Hugh Wood also offers particular insurance for items stored in bank SDBs and during transport between points. For individuals these rates are considered very reasonable for the customized policies they write above that of under-insured policies that do not afford such protection of these items in standard retail insurance policies.

As for 'corporate fraud' not identified in the FT insurance described on the web site, for the sake of brevity it may not be a specific circumstance disclosed online. The mention of "includes all risks of physical loss and/or physical damage, including mysterious disappearance and/or unexplained loss and shortage, employee dishonesty and theft" would certainly need to be fully reviewed and if not named, then inquired about adding to the policy rider. If it cannot be reasonably explained then other options may need be sought if a private vault service is in ones need.

My point is simply to point to certain degrees of security and insurance being available if one seeks such services. At some point neither the individual protecting their holdings at home in safes, behind security systems and by arming themselves, nor leaving items secure in a bank or a private vault can ultimately secure anything without any an inkling of risk involved. Each person has to weigh their risk and personal security securing what they choose to protect. It's not so easy to just say if you can't hold it you don't own it, when you may simply be stomped out and relieved of your "holdings" by a home invader if one finds themselves in that unfortunate situation. This is something that wouldn't easily occur with items stowed in secure bank vaults or private safe depositories. I'd be more in fear of SDBs and vaults in unstable nations than in those with realatively strong records of political security. In over 25 years of protecting collection and investment items along with personal records in bank SDBs, even those not within a short walk or drive from my home, but states apart, I report no loss, no threats to security of these items and no need for excessive home defense and loss of sleep. For most individuals, an adequately insured SDB in a commercial bank is security enough to ward off losses and perhaps also the tendency to become paranoid about not having these metals at arms length 24/7. It's risk avoidance and that comes at each individuals own personally defined comfort level.