BullionVault was founded in 2005 and has its headquarters in London, England. This peer to peer precious metal exchange allows you to purchase bullion and store it inside a vault. That means you can avoid having it delivered.
BullionVault is similar to a stock brokerage, due to the fact that it assists you with the trading and monitoring of your precious metal investments. Since October 2013, over 50,000 people have utilized the business to purchase, trade and keep precious metals. Overall, these people own gold bullion appraised at a total of $1.4 billion, which surpasses the amount by most central banks throughout the world. Those dealers also own silver bullion worth $305 million.
One feature that sets apart BullionVault is that the WGC (World Gold Council) is a co-owner. The company’s plentiful resources and huge network of investors enables it to offer competitive precious metal rates as well as low premium costs. Consequently, many private traders and retail investors have been able to try out professional bullion investing for the first time.
The Exchange Facilities.
BullionVault clients keep their precious metals in vaults which are managed by the organization, under an official bailment contract. All of the purchased bullion is placed into allocated storage in London, New York, Singapore, Zurich, or Toronto (through Brink’s or Via Mat International), depending on the customer’s choice. The market order board provided by BullionVault shows the ask and bid rates for silver and gold. New customers have to provide proof of address and identity, as well as assign a specific bank account to fund their account with BullionVault.
Differently from DGC (digital gold currency), BullionVault does not allow units of gold to be transferred directly between customer accounts. Nonetheless, clients are allowed to buy and sell gold to each other on the trading platform. Every day, BullionVault performs an audit to connect the holdings of each customer with the latest bank statements and bar listings. This proves all the clients’ precious metals are stored securely inside the vaults.
Usually, the silver and gold you acquire through BullionVault is not associated with any specific bar. In fact, the majority of BullionVault bars are jointly owned by a number of different traders. However, in case you have a certain amount of precious metal in a vault which is the equivalent of at least one standard bullion bar, you can choose your bars as you see fit and then opt to sign them up in your name. Then, they are categorized as “reserved bars” and you have exclusive ownership of them.
The Daily Rates
Since March 2013, BullionVault has allowed its customers to buy and sell vaulted precious metals at the values set by the London gold/silver fix, which are independently calculated each day. This option is provided on the BullionVault site, in addition to the company’s market order board. Also, BullionVault introduced a plan for “Regular Gold Investment”, by which investors can automatically purchase gold which is stored in Zurich at daily prices. Customers fund their BullionVault accounts every month, with a standing order payment from their financial institution. After the money is credited, it is used by BullionVault to obtain precious metal at daily prices.
Ratings and Evaluations
BullionVault is not accredited with the BBB (Better Business Bureau), although it has an A+ rating — the highest possible score. That is not typical because usually, the BBB only gives the best ratings to accredited businesses. Notwithstanding, this is certainly a positive sign, since the BBB charges firms for accreditation. Therefore, critics have remarked equivalent to buying a good reputation. Considering the fact that BullionVault has not paid the Better Business Bureau anything, this frequent objection is not relevant, so the company must have earned its A+ rating on merit and nothing else.
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