Tag Archives: gold bullion

Nomad Capitalist’s 5 Best Countries For Offshore Gold Storage

Research related to Monday’s post about precious metals storage in Singapore led me to a piece published last fall by Andrew Henderson over on the Nomad Capitalist website. 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.”

Back on September 28, 2016, Henderson wrote in “The five best countries for offshore gold storage”:

The world is a big place and not every country is made alike, especially when it comes to offshore gold storage. The following are our top picks here at Nomad Capitalist for best countries for offshore gold storage

(Editor’s note: Bold added for emphasis)

Their top picks? In alphabetical order:

-Austria
-Cayman Islands
-New Zealand
-Singapore
-Switzerland

Henderson proceeded to explain why these countries made the “top 5” for offshore gold storage before ultimately selecting a single nation for the “number one spot on this list.”

Another insightful read from Andrew Henderson, which you can view in its entirety here on the Nomad Capitalist website.

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

(Editor’s notes: The mention of entities marketing themselves as consulting businesses 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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Jim Rickards On Storing Gold: ‘Don’t Put It In The Bank’

American portfolio manager, attorney, economist, and best-selling author James Rickards was recently interviewed by the London-based Tip TV Finance show. Rickards answered questions about a number of topics, including the next financial crisis and how to prepare for it. The editor of the financial newsletter Jim Rickards’ Strategic Intelligence believes physical gold should be part of preparations. He told listeners:

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)


“Brexit is a good separation; Scexit could be a reality- James Rickards”
(Gold discussion starts at 10:15)
YouTube Video

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 information 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.)

Rickards’ latest book…

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Related Reading: MarketWatch Article About Rare Coins As Investments

Collectible coins are frequently stored within safe deposit boxes. Particularly rare and expensive ones.

I came across an article on the MarketWatch website (a subsidiary of Dow Jones & Company) this afternoon which might interest coin collectors and (prospective) investors. Ryan Vlastelica reported:

With inflation expected to rise this year, and a concurrently strengthening U.S. dollar seen eating into any gains that might be made by pure gold, investors may want to consider a niche asset class as a protection against market turbulence: rare coins

Between 1979 and 2014, the most recent year for which data is available, coins with a minimum score of 65 posted an average annual return of 11.9%, according to a study by Penn State University. That’s near the average annual return of 13% posted by equities and more than twice the 5.5% average annual gain of gold bullion. Coins with a lower score, between 63 and 65, had an average annual return of 10.1%.

Coins posted a higher correlation with inflation than other asset classes, according to the study, with the relationship about twice as strong as for gold. The correlation between coins and inflation is 0.58 (perfect correlation would be 1.0). It’s 0.27 for gold bullion and 0.15 for stocks. The higher the correlation, the better it works as a hedge

(Editor’s note: Bold added for emphasis)

You can read the entire piece on the MarketWatch website here.

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. 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 contained herein.)

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Related Reading: Main Street Embracing Idea Of Keeping Precious Metals Outside The Banking System?

Wednesday evening I came across an article on the website of The Post-Crescent (Appleton, Wisconsin) which mentioned safe deposit boxes. Back on January 20 Vern Sumnicht of family wealth managers Sumnicht & Associates in Appleton- population 73,596- talked about the Trump administration and his suspicion there will be “a lot of stock market volatility in 2017.” One sector Sumnicht thinks will do well in such an environment is precious metals- specifically gold and silver. He wrote:

According to Reuters, Italy’s Banca Monte dei Paschi di Siena (Monte Paschi) plans to issue no less than $15 billion of debt next year “to restore liquidity and boost investor confidence.” This kind of “irresponsible” banking policy could easily cause a worldwide currency crisis. This is why I also suggest that our clients hold at least six months of annual expenses in gold and/or silver bullion and keep it outside of a bank safety deposit box where they can easily get at it as insurance against potential currency problems

(Editor’s note: Bold added for emphasis)

Sumnicht’s suggestion to clients reminded me of what American lawyer, economist, investment banker, and best-selling author James Rickards wrote on The Daily Reckoning website just this Monday (blogged about here):

The thing about gold and silver is that it needs to be in physical form, in safe storage, and a non-bank. Putting it in a safety deposit box in a bank is troublesome because by the time you want it the most, that will be when the banks are going to be closed

(Editor’s note: Bold added for emphasis)

For more information about Sumnicht & Associates, head on over to their website here.

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

(Editor’s note: The mention of any business in this post 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:

Sumnicht, Vern. “Winners and losers under Trump.” The Post-Crescent. 20 Jan. 2017. (http://www.postcrescent.com/story/money/2017/01/20/winners-and-losers-under-trump/96555852/). 25 Jan. 2017.

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Newcastle Vaults Opens In The North-East Of England

A new private vault- Newcastle Vaults- launched last month in the United Kingdom. Located in Newcastle upon Tyne (Newcastle), the most populous city in the north-east of England, the first independent safe deposit box facility in that region opened its doors on December 11, 2016. From the “About” page on the non-bank vault’s website:

Newcastle Vaults is part of a larger collection of vaults including Glasgow Vaults Scotland and Merrion Vaults Ireland – the largest independently owned safe deposit box centres in both countries. We offer safe-keeping services to private individuals and businesses, allowing the safeguarding of their most valued possessions in a secure state-of-the-art purpose-built vaults.

Our Vault facilities offer safe deposit boxes and lockers in various sizes to suit all client requirements. Smaller boxes are perfect for the storage of cash, jewellery, precious metals, valuable coins and computer back-up discs. The mid-size boxes are designed to keep documents and papers, house deeds and other important items. The large boxes would be ideal for luxury watch collections or jewellery items in-boxes, and are designed to hold larger amounts of valuables, paperwork and even artwork which need to be stored securely. We are also the only safe deposit box company to offer high security private walk-in vaults for the storage of fine Art and/or valuable furniture.

We are situated in Cloth Market, in the centre of Newcastle. We aim to provide a unique and five star service to our clients, ensuring the safety and security of their most valued possessions, documents, jewellery and irreplaceable items.

Newcastle Vaults, Glasgow Vaults & Merrion Vaults were founded by Séamus Fahy and David Walsh…

There’s also the following from a January 5 article on the website of the Safe Deposit Federation (SDF blogged about here), of which Newcastle Vaults is an approved member:

Boasting an underground/basement vault, with 7 day access – Newcastle Vaults has a range of box sizes available for rent on a monthly or yearly basis. Prices start at less than £3 per week (£150 per year), fully insured, with free insurance for year 1 on any locker/box rental…

With multi-level security access for clients, including Bio-metric fingerprint entry and facial recognition access, the vault is state-of-the-art and offers 5 star service and surroundings for box holders. “Our intention is to offer a world-class facility and service, with unsurpassed security and privacy for our clients, across all of our facilitys” says Nigel Doolin – Communications Director with the company – “We are looking at other locations in the UK and will strive to constantly improve both our service and offering with each new opening.”

In addition to being an SDF approved member, the Newcastle Vaults home page indicates it is also a registered company with the Financial Conduct Authority (FCA), “the conduct regulator for 56,000 financial services firms and financial markets in the UK and the prudential regulator for over 24,000 of those firms.”

It was also mentioned in that piece on the Safe Deposit Federation website that Newcastle Bullion, “a premium gold buying and selling service based in Newcastle,” is also located within the same facility as the vault. From Newcastle Bullion’s website:

We offer clients the facility to buy and/or sell gold coins or bullion at highly competitive prices. Our pricing is based upon the realtime / current spot trading price of gold throughout the day. Call us to receive an up to the minute quote on your gold purchase or sale. We are located within the same facility as Newcastle Vaults allowing our clients a complete purchase and storage solution within the one location

We offer our clients the ability to purchase all of the leading gold coins such as; krugerrands, gold sovereigns, gold eagles, gold maples, Australian kangaroos plus many other varieties and types of gold coin. We also stock the finest quality gold bullion bars in a variety of sizes from 1 gram, 5 gram, 10 gram, 20 gram and 1 troy ounce up to 1 kilo from gold refiners such as Umicore and Argor Hereaus…

(Editor’s note: Bold added for emphasis)

Congratulations to Newcastle Vaults on their launch. Offshore Safe Deposit Boxes wishes them all the best with their new safe deposit box facility. For more information about Newcastle Vaults, visit their website here.

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

(Editor’s note: The mention of entities marketing themselves as private vaults outside the U.S. offering safe deposit boxes/lockers at a minimum, or other businesses named above, 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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