Purchase Gold at discount! Here is how.
The following I pulled from Jim Sinclair URL. He explains how to take delivery of Gold and silver from the comex and help fight the fraud.
Posted: Dec 08 2008 By: Jim Sinclair Post Edited: December 8, 2008 at 2:06 pm
Filed under: General Editorial
Trader Dan says:
“The more buyers that can be recruited to this effort,
particularly buyers of large size, the more difficult the life of the
paper shorts will become. Short of taking delivery of the actual metal,
preferably pulling it out of the warehouses, the shorts can reign
supreme over this market. What’s more – they are doing this with
impunity as they pay no price financially to do so and profit quite
handsomely I might add. Strip them of the metal and they are cooked.
Then they will have to compete on a level playing field like the rest
of us. Who was it that said, “He who sells what isn’t his’n, must pay
the price or go to prison”? If the paper shorts are selling what
doesn’t exist, namely tons of actual gold, forcing them to show us the
actual metal will work to modify their behavior. This is the only way
to keep the Comex gold market honest.”
CIGA JB Slear of Fort Wealth Trading Comments on the Comex Delivery Process:
I wanted to give you a quick update on the delivery process. I have
to say, this is not difficult at all, it just requires some time.
- You must have an account with a commodities firm to take delivery
of COMEX Gold/Silver. Some clearing houses will not allow you to take
delivery, so don’t hesitate to ask your broker.
- We started taking delivery in November Gold and these people got their gold bars by the first week of December.
- The process starts with the purchase of the contract in the
delivering month, now December gold. With the account fully funded, we
simply buy the futures and inform the clearing firm of our intent to
- The costs out of the commodity account is (at the time of this
writing) $756.1 per ounce, x 100 (for a 100 ounce bar), plus
commissions and receipt fees totaling no more than $200 total per bar
(Fort Wealth Trading Co.). So $75,810 in the account and about a week’s
time to process the warrant/receipt, and your gold will be ready to be
- I will phone and receipt numbers once the stopper contacts us.
“Stopper” is a term referring to the warehouse that holds the product.
If your stopper is HSBC, they will require a faxed ID with the name and
address of where the bar is to be shipped, along with a check for the
freight and insurance/handling. HSBC has an account with the US postal
service, and can tell you how much the shipping costs will be for
sending an insured package. (I’d suggest Next Day Air, after all, it’s
gold). If your stopper is Brinks, there is a slight difference in
delivery. They will allow a credit card to be used for these additional
fees and shipping, but require the bars be delivered to an institution
(rightfully so too, you don’t want a Brinks truck stopping at your
home). They will deliver to a Post Office, Bank, or business address.
- I haven’t had any stoppers from the other 2 warehouses yet, but the
delivery procedures should be the same – minimal. Please be patient
with these people, these procedures are in place to make sure the
product goes to the right person, and from my understanding, these
warehouses are busier now than ever before. I wonder why?
- This is it! Don’t let your broker tell you any different. It’s even
easier to will call the product too. These warehouse people are
absolutely wonderful and will do what they can to make it easier.
For our foreign investors, the process is the same. Jim tells me
that the shipping process is different. Shipping cost quoted below
include full value insurance.
I’m here of course to answer any questions or concerns you might
have so feel free to call me and we’ll push the snowball downhill
together. You save $200 an ounce over local coin and bullion dealers.
CIGA JB Slear
Fort Wealth Trading Co. LLC
866-443-0868 ext 104
Jim Sinclair’s Commentary
For those Non- US entities the following shipper has been more helpful than any other contacted:
Based on 1000ozs of gold and a weight of 62.5lbs being picked
up in Sharon, CT and delivered in Zurich the costs will be a total of
If you have any questions, please feel free to contact me at (609) 903-1100.
I look forward to doing business with you.
Securities and Precious Metals
Dunbar Global Logistics
7717 NW 62 Street
Miami, FL 33166
P: (305) 436-7999
F: (305) 436-2808
C: (609) 903-1100