Jump to content
House Price Crash Forum
Sign in to follow this  
Guest_ringledman_*

Don't Like Etfs Or Coins In The House

Recommended Posts

I own a few ETFs for gold, silver, plat and pallad.

I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust.

Likewise I dont really want to own gold coins in the house.

What is the alternative that is safe and free from possession by a bankrupt government?

Perth mint certificates?

Cheers.

Share this post


Link to post
Share on other sites

There is only real one safe alternative in a market dominated by central banks, governments and speculators. Exit at the right moment... ;)

I own a few ETFs for gold, silver, plat and pallad.

I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust.

Likewise I dont really want to own gold coins in the house.

What is the alternative that is safe and free from possession by a bankrupt government?

Perth mint certificates?

Cheers.

Edited by fallingbuzzard

Share this post


Link to post
Share on other sites

I own a few ETFs for gold, silver, plat and pallad.

I dont trust the ownership of these over the longer term. Basically I think the yanks will take possession at some stage to pay for their government bust.

Likewise I dont really want to own gold coins in the house.

What is the alternative that is safe and free from possession by a bankrupt government?

Perth mint certificates?

Cheers.

I don't trust ETFs. Just look at what happened to the value of some of them when the insurers were in trouble in 2008 - fell way below what they were supposed to track. There were certainly some anguished posts on HPC about them at the time.

Bullionvault holds your gold in bailment, rather than as an asset of theirs, so that is one option. Theoretically, your gold should be safe, provided they are not a scam and the Swiss don't just confiscate stuff. I use them for some of my gold holdings.

Perth Mint certificates are backed by the Western Australian state government iirc, so hardly a hedge against goevrnments going t*ts up. There were also some rumours around of funny goings on at the Perth Mint (e.g. allocated gold not actually having been allocated) and when gold prices got low they refused to take orders for a couple of months (late 2008), again iirc. I'm an Australian living in Australia and I just don't completely trust the Perth Mint to properly honour their certificates in a crisis, or even their allocated gold accounts to be honest. I don't have any hard evidence of this, just that is how the business strikes me.

Share this post


Link to post
Share on other sites

Perth Mint certificates are NOT the way to go. There are far too many rumours of them selling many times more certificates than they hold in silver. They are not allocated accounts as far as I am aware, so your paper certificate could end up being framed on the wall as a worthless souvenir.

All holders of paper silver/gold should be aware that they (1) have very little guarantee of the metal existing (Bullionvault and Goldmoney being two exceptions) and (2) can only be redeemed in FRNs, not actual metal, unless your holdings are substantial enough to take delivery of a London Good Delivery bar (400oz gold, 1000oz silver).

It is my belief that a LGD ingot can only be shifted to another LBMA-registered vault. If you take possession in your hands (or more likely, van) then it immediately loses the LGD status, so you are likely to be moving it from one place where it could be confiscated to another of the same ilk. Unless, of course, you don't care about that and have a ticket to Austria...

http://www.dassafe.com/index.html

Watch the video and think of Jason Bourne.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.