Nomad Capitalist’s ’10 Tips For Buying Gold In 2018′

Still on the topic of gold (often socked away in safe deposit boxes) today, back on November 13 Andrew Henderson penned an article on the Nomad Capitalist website entitled “10 Tips for Buying Gold in 2018.” I’ve mentioned Andrew and his company before on the blog, but for those readers not familiar with them, Henderson is the founder and managing partner of Hong Kong-headquartered Nomad Capitalist, billed as the “world’s leading offshore consulting firm.” Anyway, from the piece:

Not too long ago, my friend Claudio Grass – an expert in the gold business – shared the short version of his top ten tips for buying gold. Knowing the wealth of knowledge he possesses, I asked him to sit down for an interview so we could create the long version of that same list. His insights into the world of gold did not disappoint.

(Editor’s note: Bold added for emphasis)

Some particular “insights” that jumped out at me:

• “As a general rule, if you have over $50,000 to invest in gold, store it in a safe jurisdiction. For anything less than that, keep it nearby.”
• According to Grass, two European nations qualify as safe jurisdictions. Joshua Rotbart, a “global expert on precious metals for investment” mentioned in the piece, added two more countries in Asia to the list.
• “Physical gold is the antidote to the current system. The current banking system is based on credit, paper, and computer digits. The crisis that we are expecting- the reason so many people are buying gold to protect themselves- will be a huge banking crisis. Therefore, if you decide to purchase physical gold, it’s only logical to store it outside of that banking system. Property rights in the banking system are of a temporary nature. Banks in the past have confiscated physical gold and cash, and there is always the possibility of a bail-in where all assets will undoubtedly be confiscated.”
• Echoing yesterday’s blog post about Jim Rickards and the information he received about gold being moved from banks to Swiss private vaults, Joshua Rotbart added:

Clients are moving their assets from bank vaults to privately held vaults. There are a few reasons for that:

Better access to their assets (they are no longer dependent on business hours, the goodwill of the banker etc.);
Increased distance from the reach of governments and regulators;
Better service; and
Better value for money.”

Henderson was right. Claudio’s insights into the world of gold did not disappoint. You can read the entire piece here on the Nomad Capitalist website.

Still more on the yellow metal later.

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

(Editor’s note: The mention of a particular individual/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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James Rickards Reports Gold Still Moving From Banks To Swiss Private Vaults

Late last week I was reading the Daily Reckoning website when I came across a November 28 article by the American lawyer, economist, investment banker, and best-selling author James (Jim) Rickards. The editor of Jim Rickards’ Strategic Intelligence mentioned the following in his discussion about potential triggers for the next financial crisis:

I was in Switzerland not long ago, and I met with one of the big four “secure logistics” firms in the world. These are the people that handle the actual physical metal.

They’re building vaults as fast as they can. They’ve been negotiating with the Swiss Army. Over the years, the army’s hollowed out some of these mountains in the Alps to build these extensive warehouses and storage facilities and tunnels that will withstand nuclear attack.

So these vault contractors have been in negotiation to lease the mountains — these nuclear bomb-proof mountains — from the army. My source told me, “We’re building vault space as fast as we can. But we’re running out of capacity.”

I asked, “Where’s the gold coming from?”

He said, “UBS and Deutsche Bank and Credit Suisse, and customers are taking it out of the banks and giving it to us.”

(Editor’s note: Bold added for emphasis)

The above might ring a bell for regular readers of Offshore Safe Deposit Boxes. Back in the spring I blogged about a March interview of Rickards by London-based Tip TV Finance show in which viewers were warned:

Keep away from the paper contracts. Get physical gold. Put it in a safe place. Don’t put it in the bank. I spent a lot of time in Switzerland. I visited… when I go to Switzerland I don’t spend much time with the banks, I spend it with secure logistics operators, vault operators, refineries- the people that actually handle the physical gold. They see gold coming out of Deutsche Bank, Credit Suisse, UBS, and others, going into Loomis and the private vault operators. That does not change the total supply of gold, but it changes the floating supply. Once you take it out of the banks there’s less available to prop up this paper gold market. The banks will probably be closed, at least temporarily. You won’t be able to get your gold

(Editor’s note: Bold added for emphasis)

“Get physical gold. Put it in a safe place. Don’t put it in the bank.”

So what qualifies as a “safe place” for Rickards?

Late last year, the author of the USA Today and Wall Street Journal business best-seller The New Case for Gold told The Capital Network’s Lelde Smits at Custodian Vaults, a private, non-bank safe deposit facility in Sydney, Australia:

Well you know, Lelde, we’re in a private vault. And I recommend private, non-bank storage. Now this is a vault. It’s very secure. You see we have some gold right here obviously and there is a lot more in these boxes. But this is not a bank. This is private. And that’s what I recommend.

You don’t want to put your gold in the bank because banks are controlled by the government. When you most want your gold, that’s when the banks will be closed. You won’t be able to get it. So, I recommend again, a place like the one we’re in, which is a private, non-bank, secure storage

(Editor’s note: Bold added for emphasis)


“Jim Rickards: How to make a fortune before 2018”
YouTube Video

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

(Editor’s note: The mention of a particular organization 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.)

Source:

Rickards, Jim. “Waiting for the Avalanche.” Daily Reckoning. 28 Nov. 2017. (https://dailyreckoning.com/waiting-for-the-avalanche/). 3 Dec. 2017.

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The UK’s Royal Mint Now Offers Non-Bank Safe Deposit Boxes

I recently learned that the United Kingdom’s Royal Mint, one of the world’s leading manufacturers of coins and medals whose roots extend back some 1,100 years, now offers safe deposit boxes to the general public. The Royal Mint Secure Storage program was launched this past summer, and has since been labeled as “the most secure in the industry” by Charles Holmes, Chairman of the British Safe Manufacturers Association. From a Royal Mint news release dated August 11, 2017:

The Royal Mint has launched a new service- The Royal Mint Secure Storage- that will enable members of the public to store their items of value within the organisation’s high-security walls at its site in Llantrisant, South Wales.

Director of The Royal Mint’s Consumer business, Anne Jessopp, said “We wanted to create a secure storage facility that is ‘safer than houses’ for members of the public to store their high value jewellery, heirlooms, documents and even articles of sentimental value – objects that may be at risk when stored in the home.”

To date, purchasers of The Royal Mint’s bullion coins and bars have been able to take advantage of the organisation’s secure vaulting service. Now, the brand new facility – The Royal Mint Secure Storage – will enable customers to place other valuables in the hands of the 1000-year organisation, safe in the knowledge that they are guarded by some of the most stringent ex-military security services in the land.

Once entering the site, which is minutes from M4 junction 34, north west of Cardiff, visitors to The Royal Mint Secure Storage will be greeted personally before passing high barbed wire fences, 360 surveillance and biometric security measures to access the secure storage area. Safe deposit boxes in a range of sizes can be hired from as little as three months, and a concierge service is on offer to help with transporting items from vehicle to storage.

“The Royal Mint already has world class security in place,” said Ms Jessopp. “The creation of The Royal Mint Secure Storage was the next logical step, giving customers complete peace of mind for the storage of their valuable items.”

(Editor’s note: Bold added for emphasis)

As far as I know, this is the only government-owned mint that offers safe deposit boxes to the public.

An interesting program, which you can read all about here on The Royal Mint’s website.

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

(Editor’s note: The mention of a particular organization 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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List Of Offshore Private Vaults Updated Again

The list of private, non-bank vaults outside the United States (offering safe deposit boxes/lockers at a minimum) located on this blog’s sister site- Offshore Private Vaults- has been updated again.

Safe deposit facilities have been added under the following countries:

• Australia (Australasian Vaulting Industries (AVI), Bella Vista (Sydney suburb) and Kuber Vaults, Castle Hill (Sydney suburb))
• Poland (Slaskie Sejfy, Katowice)
• United Kingdom (The Royal Mint Secure Storage, Llantrisant, Wales)

Any facilities I missed? I’d be grateful if you let me know about them. In the meantime, readers can view the updated list of offshore private vaults here.

Christopher E. Hill
Editor

(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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Australasian Vaulting Industries Opens Non-Bank Vault, Safe Deposit Box Service In Sydney Suburb

A new private, non-bank vault offering safe deposit boxes and a precious metals bullion trading desk has opened its doors in a suburb of Sydney, Australia. From a Newswire.com press release Tuesday:

Australasian Vaulting Industries (AVI) has just opened its high-security vault and safe deposit box depository in Bella Vista, Sydney. The business offers a unique blend of world-class security, combined with an in-house bullion trading desk, the first of its kind in Western Sydney…

The company provides world-class storage for gold bullion and other valuables in a specially designed and purpose-built security vault. The vault is owned and staffed by security system experts, with a collective of over 50 years’ experience in the industry serving private enterprise, the banking sector and military security applications in Australia and abroad…

The facility can also accommodate the storage of important documents, including passports, deeds, titles and birth certificates, along with valuable heirlooms, jewellery and data drives.

(Editor’s note: Bold added for emphasis)


“On Foot Advertising Australasian Vaults Industries Ad”
YouTube Video

According to the Australasian Vaulting Industries website, the private vault can also “arrange the collection and delivery of your assets from Australian or Global locations, using our secure transit partners from around the world.”

More information about the business is contained in the press release here. Readers can also visit the AVI website here.

Offshore Safe Deposit Boxes wishes Australasian Vaulting Industries all the best with their new facility.

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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Royal England Safe Deposit Box Ltd. Featured On Hong Kong Tatler Website

Funny I should mention Hong Kong’s Royal England Safe Deposit Box Ltd. yesterday and an article about the private, non-bank vault pops up on the website of luxury magazine Hong Kong Tatler the same day.

While I brought up the new safe deposit box facility’s use of smartphone technology to improve customer service/experience, the Tatler piece went into more detail about the Royal England operation (first blogged about here). For example, regarding the security/technology utilized in the secured storage space:

When devising the vault technology, Royal England enlisted the help of security experts from Wynn Macau and the Venetian Macao to develop a fully automated security system to encrypt client data. The system requires no staff and uses computer and biometric identification to ensure accuracy in verification of identity. Just one person is able to enter the vault at a time, meaning you can access your valuables free from any interference. Royal England does not number the boxes, so the location of your box cannot be leaked. Instead, it uses a lighting system to indicate the whereabouts of your box once you’re inside the vault.

(Editor’s note: Bold added for emphasis)

That box location procedure is a nice touch, providing an extra layer of security for personal belongings of significant worth. And attracting wealthy clients particularly interests the Hong Kong business. As director Ray Li stated in a recent interview:

Our target customers are the well-heeled in the society, to appeal to them, we hope to present Royal England as the top safe deposit box service brand in the world.


“Royal England- Exclusive Art Appreciation & Whiskey Tasting”
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As mentioned previously, Royal England Safe Deposit Box Ltd. is a member of the Safe Deposit Federation, “a self-regulating federation of independent safe deposit box companies.”

Head on over to the Hong Kong Tatler website here to read the entire article. And for more information about Royal England, readers can visit their site here.

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

(Editor’s note: The mention of a particular business/organization 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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South Africa’s Knox Safe Deposit Boxes Modernizing And Expanding

This morning while reading the “news” section on the website of the Safe Deposit Federation (first blogged about here), I learned South Africa’s first private, non-bank safe deposit box facility is undergoing modernization and expansion. According to the SDF, Knox Safe Deposit Boxes (aka Knox Titanium Vault Company) in Johannesburg is launching a smart phone application that will allow a customer to interface with the business in real time, and is moving forward with a multimillion-rand expansion project resulting in additional boxes, increased security, and rooms for client use.

This is the second time this month I’ve observed private vaults capitalizing on smart phone technology to improve customer service and experience. On November 14, I wrote about Hong Kong’s Royal England Safe Deposit Box Ltd., which allows clients to “manage the authorised person’s access and trace the situation of the safe deposit box at any time via our mobile phone application.”

Both Knox Safe Deposit Boxes and Royal England Safe Deposit Box Ltd. are members of the Safe Deposit Federation, “a self-regulating federation of independent safe deposit box companies.”

A short but interesting article, which can be read on the SDF website here. And for more information about Knox Safe Deposit Boxes/Knox Titanium Vault Company, visit their site here.

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

(Editor’s note: The mention of a particular business/organization 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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