Quick Bullionvault Review
BullionVault provides investors with an around-the-clock platform to buy, own and trade 100% physical gold bullion online. The process is secure yet straightforward, and prices are competitive. All BullionVault users own guaranteed professional grade gold and silver bullion, in standard gold or silver bar form. It is stored by Via Mat in a professionally recognised bullion storage facility in Switzerland, the UK or the USA. Users are able to buy and sell gold and silver directly with other BullionVault users, via BullionVault's order board. The gold and silver does not move, only the ownership changes. Private individuals can use Bullionvault to buy, own, store, and later sell, professional grade bullion – all at compelling prices usually available only in the professional bullion markets.
1. Precious Metals at Bullionvault
At Bullionvault you can purchase pure gold and silver. All precious metals are fully "allocated," meaning 100% customer ownership.... you are the absolute owner of your gold and silver.
This is a big advantage over precious metals ETFs, pool accounts and gold certificates as nearly all of these types of investment operate on a fractional reserve basis, which means that these products merely represent a “promise” to pay metal. But promises can be broken. Since these programmes do not give you direct ownership of metal, you are exposed to counterparty risk...you are dependent on the programme issuer's ability to meet all of its obligations.
At Bullionvault, the quantity of allocated customer metal recorded in Bullionvault's database is always equal to the quantity of metal stored in the vaults. This one-to-one ratio is always maintained and forms a critical part of Bullionvault's governance model.
Your precious metal holdings are fully insured and the cost is included in your custody charge. Your account has its own Burglar Alarm which sends text messages to your cellphone when there is any account access.
3. Bullionvault Vaults
When you purchase precious metals through Bullionvault, the allocated gold and silver is stored securely in your choice of international vault locations in London, New York or Zurich. Similar to Goldmoney, Bullionvault uses specialised vaults managed by Via Mat, the leading Swiss provider of global precious metals vaulting and transportation services.
BullionVault maintains the ownership records of the gold and silver, and publishes the daily register of owners on-line. All clients can see their private holding publicly listed against their alias - which of course only they know. The register's total matches the bar list total, produced independently by Via Mat, and published alongside Bullionvault's register.
4. Low Cost
Bullionvault is much cheaper than purchasing bullion bars or coins through a dealer. Dealers charge a commission of around 7% on average.
Bullionvault customers own "Good Delivery" bars, a standard established by the members of the London Bullion Market Association (LBMA). These are the large bars by which LBMA members manage their gold and silver settlements when trading with each other. Since the refinery and assay costs required to smelt and verify smaller bars and coins is avoided, Bullionvault is able to charge low commissions.
Furthermore, there is no Sales Tax or Value Added Tax (VAT) when you buy gold, silver, platinum or palladium with Bullionvault. Tax is only charged when the metals leave the wholesale vault. Since the precious metals you buy remain in Bullionvault's vault, there is no tax to pay.
BullionVault provides investors with an around-the-clock platform to buy, own and trade 100% physical gold bullion online. Trade gold and silver 24 hours a day, 7 days a week.
6. Registered/Reserved Bars
Ordinarily the gold and silver you own through BullionVault is not part of a specific bar, and most bars in BullionVault are part-owned by a number of people. But if you hold enough gold or silver in any vault to make up one or more whole standard bullion bars, then you can select bars up to your balance, and choose to have them registered against your name. Then they become "reserved bars" and are your exclusive property.
7. Physical Delivery
You may arrange to take physical delivery of your gold and silver at any time, providing you have sufficient metal to constitute a whole bar.
8. Bullionvault Legal Structure
BullionVault is owned and operated by Galmarley Ltd, a company registered in Great Britain (No. 4943684). You can see a list of their shareholders at Companies House on: www.companieshouse.gov.uk. Their offices are based in West London and their services are delivered by their own computer machinery hosted in separate locations in Britain and USA, which they connect to and manage from their London offices.
Galmarley is involved exclusively in gold and silver and related information technology. It owns www.BullionVault.com and also www.galmarley.com. The Galmarley site is a free educational resource for researchers seeking information on gold and silver’s monetary history, its modern role, and how it is traded around the world.
9. External Reviews & Endorsements of Bullionvault
BullionVault is a full member of the professional trade body, the London Bullion Market Association (LBMA).
The World Gold Council recommends and endorses BullionVault for retail gold investment.
On 21st April 2009 the U.K. Prime Minister awarded BullionVault the "The Queen's Award for Enterprise Innovation".