Alan’s Money Blog

Greetings to all ye precious metals investors! I bring good news. BullionVault, one of my favorite bullion storage providers, has just announced that, in addition to gold, their clients can now buy and sell silver as well. The silver will be stored in their London vault. Yep I know, I too would much prefer a vault in Switzerland, but I’m sure that choice will come sooner or later. Here is a copy of the e-mail I received from BullionVault’s president, Paul Tustain:

Dear BullionVault user,

You can now buy, own and sell silver at BullionVault, storing it
securely at low cost in the London vault.

It works in just the same way as you already deal and hold
gold. There is no VAT sales tax to pay. Our fees – detailed below
– are the lowest you will find.

We will be telling the wider world over the next few days and weeks,
but want to give you early access. Given the recent price action,
however, there may be something of a rush.

So to keep the market balanced, access is being widened on a
first-come, first-served basis.

If you are keen to trade silver, PLEASE REPLY to this email.

You will then join our priority list, and receive email notification
the moment that silver dealing is activated on your account.

All funded BullionVault clients will be enabled by January 2nd. If
you are happy to wait until then, there is NO NEED to reply.

Here are the facts you need:

#1. Silver Dealing Commission
Runs independent of gold, but is charged at the same rates. So
you’ll pay 0.8% on your first $30,000-worth of silver, 0.4%
on the next $30,000 and so on, regardless of your gold holdings.

#2. Silver Custody Charges
Also independent of gold, but slightly higher, because silver takes
up more physical space in the vault. You’ll pay 0.04% per month on
the silver you hold (minimum $8 charge). The annual rate is 0.48%.

#3. Silver Vaulting, Larger Deals & Withdrawal
Silver is available in London only for the time being. Larger
orders for one tonne or more (approx. $500,000) can be dealt
direct on main market. Please telephone for details.

As with gold, physical withdrawal out of the vault is available but
not recommended. On silver, it will cost 10% plus VAT (currently
15%) and is only possible in whole 1,000-ounce bars.

If you have any questions or need any assistance, please contact us and
we’ll be happy to help.

To join our priority silver waiting list, PLEASE REPLY to this email.

Kind regards,

Paul Tustain
Founder & CEO
BullionVault

Cheers,
Alan
http://alansmoneyblog.com

Related posts:

1. US Residents Can Now Put Gold & Silver Into Their IRA
2. BullionVault Introductory Brochure
3. BullionVault: The #1 way to own gold
4. BullionVault – The best method of gold ownership
5. Today I made my first gold bullion purchase from BullionVault