Keeping your valuables at a secure storage facility away from your residence is crucial for ensuring you’re protected against personal threat, theft, fire, flood or building damage.
Bayside Bullion recommends The Reserve Vault for storage of your precious metals.
Bayside Bullion provides allocated storage with insurance (not unallocated) and can provide an annual Statement Of Holdings
You can buy or sell instantly any of the stored items you have with us
Not sure the difference between Allocated and Unallocated ? Lets take the below section to help clarify this often misunderstood (but critical) choice
“The investor can typically select between an unallocated deposit account and an allocated deposit account. The gold is physically attributed to the account holder only in the case of allocated deposits in specially assigned accounts. In the case of these allocated accounts, the bank cannot lend this gold and if the bank becomes insolvent, the bank’s creditors do not have an interest in this gold. A customer with an unallocated account is an unsecured creditor of the bullion bank or gold dealer. Gold held in unallocated accounts, just like with many other bank deposits, may be lent by the bank…”. (Source)
For this reason, we ONLY provide Allocated storage and strongly recommend our customers do the same
Ever wondered how some businesses and bullion storage providers can offer free storage and insurance? We also wonder the same but know better and keep well away from any such options
The Statement Of Holdings is Self Managed Super Fund (SMSF) compliant and can be provided to our customers on an annual basis.
We offer this service to all our bullion storage customers
The Statement Of Holdings is only charged at $10/year and is an excellent way for SMSF customers to met their annual mandatory obligations.
Our current rates:
Gold – starting from $15/oz * (minimum 10 ounces)
Silver – starting from $15/Kg * (minimum 15 Kilograms)
We believe this is the cheapest allocated storage available in Australia!