BullionVault

[Phronesis]

Hi all,

What's your experience with BullionVault, if any? They look like a very good value proposition on their website, and they might have the lowest-priced gold and silver available anywhere, but I often confuse them with Bullion Direct, which was some sort of bankruptcy, possibly a scam. I have a perhaps irrational vision of BullionVault going the same way.

I'm not clear on the whole "allocated" thing, but in theory it should be cheaper and more secure than putting your metals in a closet or even a safe. BullionVault is supposed to have audits, but I haven't dug into them. Their storage fee of 0.12% a year seems incredibly low to me.

So what say you? Has anyone done business with them? Any problems?

[maxwellsilverhammer]

my only experience is here with the kitco pool account

[Hooah]

Please please please follow this advice:

IF YOU DON'T HOLD IT, YOU DON'T OWN IT.

This is so true for precious metals. Tulving, BullionDirect, etc. scams made this so apparent. Take delivery and store it yourself. The scammers in those cases still haven't been fully brought to justice.

Buy from APMEX, JMBullion, Kitco, or any other major retailers and TAKE DELIVERY.

[paxtonleiny]

Especially true for gold and silver. Cons like Tulving and BullionDirect made this quite clear. Taking delivery and storing it on your own is fine. Scammers in those instances have not yet been fully punished.