Everbank.com for buying gold

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neilk's picture
neilk
Status: Member (Offline)
Joined: Dec 5 2008
Posts: 10
Everbank.com for buying gold

Hi everyone,

I can't easily buy gold where I live in Bangladesh (it would likely be adulterated) or bring it here. So I'm looking at buying it through an organisation which can store it for me. Following advice from the forum I'm looking at held gold and not "pooled" gold. I just sent an application to Everbank.com to open a metals a/c.

Now I have to decide what form of gold I will hold with them. Any suggestions? They have the various coins, bars, ounces etc.

Also - is Everbank.com OK? If the dollar disappears will they keep running and holding my gold?

 Cheers, and merry Christmas,

 Neil

joemanc's picture
joemanc
Status: Martenson Brigade Member (Offline)
Joined: Aug 16 2008
Posts: 834
Re: Everbank.com for buying gold

You can buy gold/other metals at the Perth Mint and they will store it for you there

neilk's picture
neilk
Status: Member (Offline)
Joined: Dec 5 2008
Posts: 10
Re: Everbank.com for buying gold

Thanks for the suggestion. Aus is closer to me than the US. I'm also a bit concerned about US confiscation of private gold!

neilk's picture
neilk
Status: Member (Offline)
Joined: Dec 5 2008
Posts: 10
Re: Everbank.com for buying gold

Thanks for the suggestion. Aus is closer to me than the US. I'm also a bit concerned about US confiscation of private gold!

wdstk46's picture
wdstk46
Status: Bronze Member (Offline)
Joined: Nov 17 2008
Posts: 59
Re: Everbank.com for buying gold

I may be too late with this tidbit but I just found this thread.  Both GoldMoney and BullionVault will buy and store physical gold for you.  They are both located in Europe.  GoldMoney on the Isle of Jersey and BullionVault in London.  Both have vaults in Zurich.  BullionVault also has vaults in New York and London.

 

Jim 

eb_riesling's picture
eb_riesling
Status: Bronze Member (Offline)
Joined: Oct 28 2008
Posts: 49
Re: Everbank.com for buying gold

Hello All,

 

Any thoughts to the total mix one should have?  I have read in various articles that one should contain a mixture of gold stock (mining companies), stocks that hold physical gold, bullion and a couple of weeks expenses in coin.  Any comments on what the group here has done would be helpful.  I have just started the process to purchase some coin and bullion and am now realizing I must store it so I am on hold with it untill I have a good plan in place.  My ultimate connundrum is this:

- If things really break down hard you may not be able to access your vault held gold anyway so what good is it?

- If things really break down hard you may not be able to use your personal stash of gold as the government may confiscate it?

 

One last question, does anyone know of a company that provides a credit card based on gold?  I have checked out goldmoney and there was no mention of a credit card based on gold.

 

Cheers,

 

E

 

gyrogearloose's picture
gyrogearloose
Status: Gold Member (Offline)
Joined: Sep 8 2008
Posts: 480
Re: Everbank.com for buying gold

wdstk46 wrote:

I may be too late with this tidbit but I just found this thread.  Both GoldMoney and BullionVault will buy and store physical gold for you.  They are both located in Europe.  GoldMoney on the Isle of Jersey and BullionVault in London.  Both have vaults in Zurich.  BullionVault also has vaults in New York and London.

Jim 

Chris Martenson clearly state "Physical possession only"  in regards to owning gold.

Really anything else is no different from gold futures on comex.

Cheers Hamish

KKPSTEIN's picture
KKPSTEIN
Status: Silver Member (Offline)
Joined: Oct 20 2008
Posts: 120
Re: Everbank.com for buying gold

Hi Neil,

My last post was deleted by Jason the new moderator as "it was practically a full-length advertisement".  I wanted to pass on the pertinent information from that post that was not an ad.

 When purchasing gold coinage, these are really important things to know:

Can I suggest that you look into off shore silver/gold bullion accounts with a private bullion bank?  Your privately owned bullion would be stored in a vault in Switzerland.  You would have private ownership of that bullion in the vault. 

Regarding privately, owned tangible gold, here is some background, historical information on why tangible, privately minted coins are better:

Throughout history 2 distinct types of coins have circulated; Monopoly Coins and Open Exchange Coins:

1.  "Monopoly Coins" identified by:

- Government and/or 3rd party monopoly ownership (e.g. by various coinage acts and decrees.)

- A monetary face value determined by statute (e.g.1 Denarius, $1, or 50 pence)

- Government inscription (e.g. Image of "Caesar" or state "ID".)

- Little or no integrity of precious metal content.

- Little or no intrinsic value.

- Being merely tokens of inferred value.

- Government can buy back for face value only - $50 gold coin (you'll get $50).

2. "Open Exchange Coins" identified by:

- Private bearer ownership.

- Intrinsic value in their own right.

- Integrity of precious metal content.

- Absence of a monetary face value.

- Absence of government or third party encumbrances.

- Open market assessment as to their value and tradability.

- Bearer's liberty as to usage or hoarding.

With the benefit of historical hindsight, the civilizations that have embraced a system of just weights and measures and an open exchange of gold and silver coinage, not only enjoyed longevity as a power, but their citizens and those who chose to trade with such currency of integrity, enjoyed the prosperity and security it ensures.

MAXIMUM BENEFIT TEST

In order for gold and silver coinage to enjoy maximum benefit in the market place it must pass the following 5-point test.

1. The coin must be your property (Government issued coins are not yours)

2. It must be a stipulated weight (Grams or troy ounces are preferred)

3. It must be a determined purity (Preferably pure gold, pure silver or a mixture)

4. It must be in small denomination of weight (2-30 grams, or 1/10th -1 troy ounce)

5. It must be internationally recognized (Via a reputable hallmark or trademark)

pov56's picture
pov56
Status: Member (Offline)
Joined: Aug 26 2008
Posts: 14
Re: Everbank.com for buying gold

One thought to keep in mind is that hackers/criminal gangs are constantly trying to compromise systems.  The Chaos Computer Club (CCC) recently created a rouge Certificate Authority and it makes phishing far more dangerous.   What this means to an average user is that when they log into what they think is a secure site, the hackers are getting your login information.  Right now it is a proof of concept but it is only a matter of time before it is in the wild.  

http://it.slashdot.org/article.pl?sid=08/12/30/1655234

 As the economy tanks, companies will look for ways to cut costs and my guess is that computer security will be one of those areas.  Hackers and criminals will have a field day.  

 

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