GoldCore: Classic Christmas Film Lesson In Danger Of Exposing Wealth To Banking System

While visiting GoldSeek.com earlier tonight, the following article title jumped out at me:

“It’s A Wonderful Life Is A Wonderful Lesson To Hold Gold Outside of The Banking System”

Penned by the folks over at international bullion dealer GoldCore, the piece began with:

Frank Capra’s 1946 film It’s A Wonderful Life is one that many families will be settling down to watch this Christmas weekend. A story that is ultimately about a suicidal man is one of the most watched holiday films of all time…

There are some important lessons to be learnt from the film’s protagonist George Bailey. For us the main takeaway for cautious investors and savers is in reference to trusting banks and deposit companies with your hard earned cash.

It is a lesson on how exposing your wealth to various counterparties is exposing it to an incalculable level of risk. Furthermore it should be a lesson on the importance of having savings and learning how best to protect them…

(Editor’s note: Bold added for emphasis)

An interesting piece, which you can read here on GoldSeek.com.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Merry Christmas

I’d like to wish Offshore Safe Deposit Boxes readers a Merry Christmas if you celebrate it.

New material will appear on the blog tomorrow.

Thank you for your continued readership and support.

Christopher E. Hill
Editor

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BullionStar Highlights Advantages To Storing Precious Metals In Singapore

These days, the Southeast Asian city-state of Singapore is a popular destination for the storage of gold and other precious metals. A number of private vaults can be found there, as well as safe deposit boxes outside the banking system.

Last week, the Singapore bullion dealer BullionStar published a blog post entitled “Gold Demand in the Singapore Bullion Market” in which the advantages of storing precious metals in the “Switzerland of Asia” were highlighted. From BullionStar’s Blog on December 11:

One of the early initiatives that transformed Singapore into a precious metals trading and storage hub came in February 2012, when during a budgetary speech to parliament, finance minister Tharman Shanmugaratnam announced that the importation and supply of investment-grade gold and other precious metals in Singapore would become exempt from Singapore’s Goods and Services Tax (GST)…

Apart from the GST exemption on investment precious metals, there are a number of other jurisdictional advantages that have supported the growth of Singapore as a gold trading and storage hub, and that reinforce the logic for buying gold and storing gold in Singapore.

In Singapore, there are no other taxes when buying gold, silver or other precious metals. This means no capital gains tax, no other sales tax, no death tax, in short no taxes. There are no reporting requirements when buying or selling gold or silver or other precious metals in Singapore. This means no reporting requirements to any Singaporean authority and no reporting requirements to any international authority.

There is no GST when importing gold and other precious metals into Singapore, or exporting gold or other precious metals out of the country. Singapore is also famed for its strong rule of law, making the country one of the safest and most secure countries on earth to buy and store gold. If taking delivery or selling precious metals, it is quite safe, apart from the usual precautions, to walk in and out of bullion dealer shops in Singapore carrying your precious metals.

Furthermore, the Singapore legal system is very protective of private property rights, and the nation of Singapore has strong military capabilities, both of which are reassuring when storing gold or silver in the city-state. Finally, because it’s a thriving gold trading hub, with a buoyant wholesale and retail bullion market, Singapore has a very well-developed gold storage and vaulting infrastructure, and is very well serviced by secure transport companies

(Editor’s note: Bold added for emphasis)

An informative blog post about Singapore’s growth as a precious metals trading and storage hub, which can be read here on BullionStar’s website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Hacked.com Article About Buying, Storing Gold While In Hong Kong

A couple of days ago I came across an article on the financial website Hacked.com which certain readers may find useful. Back in October Fredrik Vold penned a piece entitled “Buying and Storing Physical Gold in Hong Kong.” He wrote:

If you are one of the many people who feel uncertain about the direction of the global economy and stock market, you should be looking for other options to preserve and grow your wealth. Cryptocurrency is obviously one option, but with the high volatility that comes with it, some people may prefer more traditional stores of value. In this article, we will guide you through exactly how you can buy and store physical gold in Hong Kong, widely regarded as one of the best places in the world to buy gold

(Editor’s note: Bold added for emphasis)

For those looking to rent a Hong Kong safe deposit box and acquire gold while physically present in this autonomous territory of China, information provided in the article, such as the “more reputable jewelry shops in Hong Kong” and the “most often recommended” banks that “actually let you buy gold bars and coins directly over the counter,” may prove useful.

An interesting article, which can viewed in its entirety at the following destination at Hacked.com:
hacked.com/buying-storing-physical-gold-hong-kong/

(Editor’s note: Following the link directly from my piece may trigger the paywall which was intended for me)

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Degussa Numis Day In January

I ended last week blogging about a promotion being offered by Sharps Pixley in England. The parent of the London bullion store/safe deposit box facility is Degussa (leading international player in the precious metals world which also offers boxes at branches in Germany, Spain, and Switzerland), which recently posted information about their next Numis Day (first blogged about here) at their Geneva and Zurich showrooms. From their website:

The Next Numis Day

We appreciate and appraise your treasures- in Zurich and in Geneva

Coins tell of great civilisations; they bring history to life. And they are of enduring value. Do you wish to put a lovingly curated collection or individual items in the best of hands while benefiting from the extensive expertise of a renowned precious metals trading house? Then you have come to the right place. A simple phone call is all it takes to arrange an appointment at our next Numis day.

Location:
In our showroom in Quai du Mont-Blanc 5 in Geneva
Date:
On January 18, 2018 from 9 am to 5 pm.

Location:
In our showroom in Bleicherweg 41 in Zurich
Date:
On January 19, 2018 from 9 am to 5 pm.

We provide comprehensive advisory service.

Our coin expert Robert Eberlein will be there all day to evaluate your pieces and give you tips. He looks forward to discussing the finer points of numismatics with you.

You can rely on us to provide a fair market value determination, and, on top of that, to offer other marketing options: If you wish, you can sell directly to us at a fair price on Numis Day. Or we can consult with you and jointly determine the best marketplaces for your special treasures, for example, international coin auctions or prestigious Internet platforms.

Are you interested in coins as an investment? If so, our experts will also be happy to advise you on Numis Day. Numismatists have been collecting historical coins for centuries, and the popularity of this pursuit has not waned. If you wish, we can also represent you at auctions worldwide.

Do you wish to sell old gold?

Numis Day is all about historic coins.

Please arrange a separate appointment with us if you wish to evaluate and sell gold jewellery, old gold or silver.

For more information about Degussa’s next Numis Day or the company, visit their website here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Sharps Pixley Promo: Free Gold Bar With A Safe Deposit Box In London

Regular readers of Offshore Safe Deposit Boxes may remember my mentions of Sharps Pixley, which dates back to 1778 and is an original member of London’s twice-daily gold price fixing establishment, opening up a private, non-bank safe deposit box service last year.

Yesterday I learned of a promotion being offered by Sharps Pixley, whose parent company is Degussa, which also has vaults/boxes outside the banking system (under the Degussa name) in Germany (Berlin, Cologne, Hamburg, Hanover, Munich, Nuremburg, and Stuttgart), Spain (Madrid), and Switzerland (Geneva and Zurich). From a LinkedIn post Thursday by Sharps Pixley CEO Ross Norman:

“FREE GOLD BAR WITH A SAFE DEPOSIT BOX IN LONDON”

We are giving away a free small gold bar for every SAFE DEPOSIT BOX taken at our St James’s Street, London bullion showroom.

(Editor’s note: Bold added for emphasis)

For more information about this promotion, contact Sharps Pixley directly (website here).

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of a particular business should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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