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Gold/Silver Bullion Investment

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The transaction you are talking about is Allocated, which has ongoing storage fees so yes there is a cost that has to be paid for by increase in gold price. Alternatively suggest you look at unallocated gold which has no ongoing fee or just buy some physical from your local coin dealer and store it at home or in a private vaulting facility (not bank, you won't be able to get to your gold if there is a bank holiday).
 

Bron is correct,

As for storing gold if its anything less than a few kilo's (200k mark) i would store it in a safe place (heavy safe). You see yrs ago people stored their wealth themselves, today everyone is too scared to have anything on them.
 
Size wise gold valued at less than $50k is so small it can be easily hidden. This does not suit everyone of course. FYI about 85% of the Perth Mint's Depository clients go with unallocated, the rest allocated, but given how much physical metal we sell, there would also have to be a fair number of people storing it themselves.
 
https://www1.gotomeeting.com/register/205878896

freebie.....wont try and sell you anything.....
 
Just got an email on silver backed debit card from euro pacific.


For anyone interested the link went here

Just a curiosity thing, not something I myself would be interested in just thought I would share. I know nothing about the product.
 
Gold is the only money that has never failed in the 5,000 year history of its use by humans.
Currently, there is only enough investment-grade gold available on Earth for every living person to have 1/3rd of an ounce.
Time and again throughout human history, gold has been revalued to account for all excess currency in circulation. Today, to account for all the U.S. dollars printed by the Federal Reserve, gold would have to be revalued at $15,000 per ounce.
 

Been watching Mike Maloney have we?
 
I went to the ABC Bullion company today in the city (Sydney) at lunch time, planning to have a look around and maybe even buy something as a present, but just as the recent news article stated, there was a lot of demand for it at these prices - there was a sizeable queue along the narrow hallway.
 
Gold scam a $610m hit to taxpayers as ATO tries to stop GST fraud



    • The Australian
    • 12:00AM December 27, 2016
A national gold scam has cost taxpayers at least $610 million in lost revenue as the Australian Taxation Office struggles to stamp out criminal syndicates defrauding GST in the multi-billion-dollar industry.

The Australian can also reveal that tax officials have referred one brief of evidence to commonwealth prosecutors, who are considering criminal charges, while another case is being investigated by the Serious Financial Crime Taskforce.

Industry sources say it is “extraordinary” that no charges have been laid as the fraud has grown exponentially in the past three years, and have criticised the ATO for punishing legitimate operators being caught up in the crackdown.

The $610m the ATO now believes has been lost in GST fraud is almost 10 times the estimated $65m under investigation in 2013 after it formed Operation Nosean to crack down on the “carousel” gold scam.

The fraud involves a criminal buying GST-free pure gold from a bullion house with the intention of breaking it up and selling it on to a gold refiner.

Pure gold is treated as currency, and therefore cannot be sold with the addition of GST.

The scammer takes the gold bullion and breaks it down into another form, such as jewellery or scrap.

Given the gold is no longer considered bullion, the refiner must pay GST to the criminal, meaning the gold now attracts a 10 per cent premium. As one industry source explained: “You buy the bullion, you smash it up, and it’s worth 10 per cent more.”

After selling to the refiner, the criminal pockets the GST payment rather than remitting it to the ATO as required.

Jewellers and pawnbrokers are also understood to be involved in the scam activity that authorities appear powerless to stop.


 
One of the often "forgotten" aspects of owning physical bullion, is the ridiculous spreads between buy and sell for the products.
For instance, with the spot price of silver at AUD$35.28 an ounce, ABCBullion advertises that you can buy the 1OZ beneath the southern cross silver coin for the sum of aud $46.50. However, if you then tun around and try to sell that same coin back to ABCBullion, they are offering to buy at AUD$34.12. Thats a discount of around 27%. Nice money if you can get it.
So someone who decides to make and investment in these coins, needs to have the coins appreciate by 27% before they break even.
 
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