It's been covered in here before but the legal situation with GoldMoney and Bullion Vault is way too murky. The downside to Perth Mint is the ridiculous storage and purchasing fees, plus you can only buy and sell via local dealers that may not be open or not be overwhelmed during a crisis on amounts under $50K.escafandro wrote: Does anyone in the forum actually use Goldmoney, Perth Mint, Hard Assets Alliance or Bullion Vault?
If so, I would like to ask what is your experience, what are the key points to consider, and the pros and cons you have found.
I think a lot of people in here have forgotten the purpose of the gold allocation in the HBPP is not just as part of an overall portfolio to withstand different economic regimes; it is specifically for crisis insurance where gold is being used as money in the underground economy when the government screws up its own currency and imposes anti-hoarding, capital controls, transaction restrictions, etc... So holding up to several indirect layers of "paper gold" that cannot be used as medium of exchange serves purely convenience and maybe inertia denial about our rapidly decreasing Rule of Law. The SEC just washed its hands of prosecuting Goldman Sachs for its role in the subprime debacle.
Look at the increasing cash and gold transaction restrictions occuring in the Eurozone right now. It is far too late to wish you had direct ownership of gold coins in the peripheral countries. With France's latest restictions on gold transaction, the gold-cash market there has collapsed and Belgium (across the border) has taken up the slack.
) A minimum international order of 20 oz is a bit high!
