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Red Baron

Allocated Silver Accounts?

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Does anyone know of offshore allocated silver accounts similar to Goldmoney? Goldmoney will be offering silver in due course, but not until the end of October.

I believe there are VAT implications in buying silver, does anyone know whether that applies to an allocated holding?

Edited by Red Baron

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Note that with e-gold and e-silver you have no outright ownership of the metal. The metal is held in trust which might still be OK but is an additional level of intermediation. In my view this makes them slightly inferior to Goldmoney.

From Goldmoney's T&Cs: "Title to the pool of gold in allocated storage at a Vault shall at all times vest in the various GoldMoney Users"

From eGold's T&Cs: "Bullion backing the e-metal currencies is held in trust by The e-gold Bullion Reserve Special Purpose Trust for the exclusive benefit of all e-gold account holders collectively."

The difference is that Goldmoney is gold belonging to you. e-gold ìs instead a gold-backed currency, not gold.

I may seem pedantic but always remember that gold goes to the moon in a financial crisis. And strange things tend to happen in financial crises.....

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