That's outstanding! I was just poking around for gold sources and am planning to buy from California Numismatics. Of course there's the issue of do you trust this bank to store your gold, deliver it on time etc.
It does cost a bit more than buying from a traditional gold dealer. Currently they are selling 1 oz Eagles for $1,278.27. CNI's site lists a sell price of $1,263.30. However, the convenience could be worth the price difference...if, again, you trust this bank. Also, selling your gold will likely result in a report to the USG, which I'm not crazy about. On balance, the Perth Mint might be a safer bet.
New Gold Source
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MachineGhost
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Re: New Gold Source
Interesting, but they don't specifically state this is allocated storage and not a liability on their books, although it sounds like it might be since there's a delay in having it sent to the vault as well as having it sent to you. Their storage fee is not competitive with other storage options. Also, how much are their bid/ask prices? They're no doubt making a markup profit as a counterparty as there's no mention of competitive bidding from third-party dealers.
Pert Minth would be fantastic if they would lower their ridiculous fees. It's as bad as a traditional active management fund.
1099 reporting is only for specific non-American bullion coins and bars due to CFTC reporting requirements. If you stick to domestic coins and avoid selling at least 100 oz of bars at a time, you'll be fine.
Pert Minth would be fantastic if they would lower their ridiculous fees. It's as bad as a traditional active management fund.
1099 reporting is only for specific non-American bullion coins and bars due to CFTC reporting requirements. If you stick to domestic coins and avoid selling at least 100 oz of bars at a time, you'll be fine.
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Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!