GoldMoney vs. BullionVault

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sms594's picture
sms594
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GoldMoney vs. BullionVault

The website recommneds BullionVault for larger holdings of gold.  Does anyone have experience with GoldMoney.  I was leaning toward GoldMoney over BullionVault due to ability to take physical delivery from the former.

sms594's picture
sms594
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treebeard's picture
treebeard
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Perth Mint

I was going to use Europacific capital to purchase at the perth mint in Australia, has anyone any experience with that? 

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ao
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treebeard wrote: I was going

treebeard wrote:

I was going to use Europacific capital to purchase at the perth mint in Australia, has anyone any experience with that? 

Not a good idea.  Check the archives.

mryuri's picture
mryuri
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GoldMoney vs. BullionVault? Physical possession.

You can take physical delivery from Bullion Vault. I admit they are a bit, 'hemm and err...' about it, as not many people take possession, but they do offer that as part of their agreement with customers. I wanted to take delivery of a kilo of gold and they said that was such a small amount, that they didn't have any bars that small, but said they would source one for me and deliver that, at the original agreed costs. 

szuberi's picture
szuberi
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Gold and Silver ETF

Does anyone know what is Chris recommendation for holding Gold and Silver ETFs (GLD and SLV) as they could be bought and sold like stocks and their prices reflect the daily price of gold and silver?

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hollysurly
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One thing I like about

One thing I like about GoldMoney is if you travel, they’ll catechumen your gold to banknote in abounding altered currencies. They add new ones every already in a while.

Also, it acclimated to amount $50 to wire money from the US to England, now I anticipate they accept a area in the US so that fee is abundant beneath (or gone, haven’t acclimated it in a while).At Goldmoney you purchase pure, physical gold, silver, platinum or palladium bars. Ordinarily, customers part-own the bars with a number of other customers. If you purchase enough precious metals to constitute a whole bar, you are able to register it in your own name.

___________________________________________________________________________________________

“Books are for people who wish they were somewhere else.”

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torotoro
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Bullion Vault versus Gold Money

I have accounts at Bullion Vault,  Gold Money, and Gold Switzerland.  Without a doubt, Gold Money is the worst of them all.  Bullion Vault is the best. Gold Money quoted 60 days to credit an account and quoted 60 days to get funds back to that account.  Customer Service is a horrific company and there business practices appear to be quite shady.  Do yourself a favor a STAY AWAY from GOLD MONEY.  They are the worst of the worst.  Also, to open an account, it cannot be done online.  You must notarize and mail and then wait for an eternity for follow-up.

SingleSpeak's picture
SingleSpeak
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You may be right

that other companies are better, but I have had no problem funding or withdrawing funds from Gold Money. It has never taken more than 2 days.

SS

Travlin's picture
Travlin
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I did it

torotoro wrote:

Do yourself a favor a STAY AWAY from GOLD MONEY.  They are the worst of the worst.  Also, to open an account, it cannot be done online.  You must notarize and mail and then wait for an eternity for follow-up.

Torotoro

I opened an online account with them two years ago.  According to their web site this service is still available.  http://www.goldmoney.com/usa-customers.html

The process was easy and quick.  Online application is not available worldwide, but if you have a credit history with Equifax, which is most people in in the USA, then you should have no problem.  I will also confirm, from my own experience, what SingleSpeak said about fast transfers.  GoldMoney processed them promptly, but international wire transfers take a day or two to move between banks.

I note that this is your first post and you just became a member today.  Would you care to explain why you have gone out of your way to blast GoldMoney with inaccurate information?  In particular, what is your basis for calling them "shady".  This is a serious charge that requires an explanation.

Travlin 

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Rwrek
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I like GoldMoney

Tarvin - My expeience with GoldMoney has also been quite positive. I have had several email interactions with them. Also have spoken with one of their representative on a startegic suggestion and exchanged ideas on several occassions since. BTW - I am not a large investor.

Most puzzled by torotoro's comments

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nameofthegame
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Weird to hear such a problem

Weird to hear such a problem with GoldMoney. I think I'll take with a grain of salt such a declaration from a first-time poster.

I admit I don't know much apart from what I've read from the site and some articles, but BullionVault seems to be preferable. Great articles, FAQ. Customer service is awesome, fast and detailed, they apparently have enough resources to take the time in explaining things. It's the physical delivery thing that they're not as adept with, they probably deal mostly with large bars. I just hope that in the event of a Roosevelt-like confiscation, my ownership would still be affirmed.

EuroPac is another intriguing choice, but I don't want to invest there just because someone famous like Peter Schiff oversees it, even tshough I do like Schiff. HAA is great as well.

robtompkins's picture
robtompkins
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Gold Money experience

I have had no problems at all with GoldMoney.com and would highly recommend them.  The question I would consider is, do you really want to take physical delivery?  The possibility of gold confiscation in the future is not without precedent, and the last thing you would want is to have your physical gold somewhere in a country that issued a confiscation order.

 There is a new way to purchase gold that has been apparently setup to reduce the possibility of confiscation as much as possible.  This is the Ultimate Gold Trust.  It has only recently started business and I do not have any views pro or con on it, other than Julian Phillips has been involved with its formation, which gives it some credence in my mind.  You should definitely make inquiries to them if you do not already have physical gold with another company.  

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MasterOfMyDomain
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Confiscation vs. Repatriation

Chris has mentioned the dangers of repatriation (taxes) for gold stored outside the US. This makes me hesitate to use GoldMoney as they have no vault in the USA whereas BullionVault does. On the other hand, if it's stored in the USA there is the confiscation concern.

Any comments on confiscation vs. repatriation concerns?

Unfortunately, I need to set this up for an IRA so the bigger issue for me is what self-directed IRA custodian to trust. None of them seem to stand out. GoldMoney has an exclusive relationship with Entrust Group for IRAs so if GoldMoney is a reliable entity than I'm assuming they've done their homework...

sand_puppy's picture
sand_puppy
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Joined: Apr 13 2011
Posts: 452
Good Experince w GoldMoney

I've also had very good experience with GoldMoney.com.  When I first opened the account in 2006, I had to mail in paper copies of my ID, proof of address, etc and it took 2 weeks to set up the account.  Now, however, it can be done online in by scanning and emailing all documentation.  My wife set up her account last year in about 48 hours.  Response times for withdrawing funds has always been 24 hours or less with the funds being wired directly to my checking account. 

Keeping some money in a different legal domain sounds like a good idea to me.  Diversification.  Since we don't know what the future will bring, spreading out the risk seems to make sense.

And I trust James Turk, the founder. :-)

politicalmetals's picture
politicalmetals
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They are unique in their own ways

I am using both services and find them to be complimentary, each with their unique strengths & weakness. If you're unsure, best to diversify and use both. You may want to check out my comprehensive comparison and individual reviews of GoldMoney & BullionVault.

CleanEnergyFan's picture
CleanEnergyFan
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Joined: Jan 29 2012
Posts: 38
BullionVault and GoldMoney are both great

Bravo Travlin for defending GoldMoney.   I have accounts at both BullionVault and GoldMoney and like them both.  Unlike some earlier posts I found GoldMoney very easy to join, BullionVault required more work to get accredited but I really like both companies.  I tend to store my bulk gold at BullionVault and a lesser amount at GoldMoney which has somewhat higher gold storage costs.  GoldMoney seems to be setting itself up to be smaller and more daily transactional $ amounts (ie when we use gold grams in place of Dollars and cents) whereas BullionVault is more long term wealth-preservation and larger $ amounts (at least thats the way I view it).  PS...I really like the Gold Money podcasts.

Magnum03's picture
Magnum03
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Posts: 31
I use Goldmoney and can

I use Goldmoney and can recomend them. I have used BullionVault, but did some reading on the Internet and several people reported issues with the physical delivery of gold. Don't know if its true or not.

I would not recomend any trading, where you can't take delivery - "If you can't hold, you don't own it".

Magnum

mpraghav's picture
mpraghav
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Posts: 1
torotoro, your comments are incorrect

torotoro,

That's definitely not true. I have a goldmoney account and their service is great. Stop misleading people and take your "shady" comments elsewhere.

markjr's picture
markjr
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Posts: 15
Goldmoney and Bullionvault both make it hard to be resilient

After wrestling with goldmoney for about 6 weeks to get my old old account upgraded to a full holding, I wired them some money from my business (only my business is setup to easily send wire transfers) and they are sending it back because the wire source is different from my account.

I don't want to send it to them personally because that would mean taking the funds into my own hands which is taxable (kiss half of it good-bye)

So to send funds from my business I need to create a business account. A basic business account can only send and recieve funds from the same bank account, to attach multiple bank accounts to the business account I then need to do a full business account which apparently, by their own admission "is lengthy and cumbersome".

What I'm trying to accomplish is to amass savings in the form of precious metals outside my own country (this is money I've already paid taxes on, so there is nothing illegal going on) and if TSHTF and I need to relocate (in case it suddenly becomes illegal to not be on welfare) I want to be able to receive said funds into my hands in another country.

I just talked to a rep at bullionvault and again, you can only have a single bank account for in/out - but "in a pinch" (it's hard, again, by their own admission) you can get the physical stuff out. I have to read the document they just sent me.

This is harder than it sounds.

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