Bullion Storage Options

 

For many considering investing in bullion storage is a key consideration.  Storage of bullion can in fact be an easy, low cost exercise, with a number of options available.  Ultimately it is a risk and effort equation and that sometimes hinges on whether you own more gold or silver.  Obviously at a 70:1 value ratio you have a lot less bulk in gold to store than silver.  We’d urge people not to let this dictate your purchase as anything near a correction to historical ratios will soon have you forgetting about relatively inconsequential storage costs….

So what are your options:

  1. Taking it home –safes, hiding places, buried, the choice is yours and largely depends on how much you have to store and your home security.
  2. Secure storage – offsite secure facilities such as Reserve Vault, bank safe deposit boxes, and other Australian vaults.  Post Cyprus implications we suggest you consider the independence of the facility from bank or Government influence and to read the fine print of the Terms and Conditions of those that aren’t. Reserve Vault also offers a Custodial service that sees them manage your storage, provide full insurance, and regular inventory reports for SMSF audits etc.  Ainslie is the majority shareholder of Reserve Vault, bringing our 40+ years of experience to the business.
  3. Ainslie Bullion Storage Account
    • Allocated Storage – Ainslie Bullion can store your actual purchases in our own section of Reserve Vault for an annual charge.
    • Unallocated Storage – You can buy a share of bullion held by Ainslie Bullion at Reserve Vault.  All purchases are matched by metal held on our account and incur no charge other than a one off entry fee only for silver.

Please see Storage Accounts for more information on this service.

When considering the cost of storage we urge customers to look at the cost on a percentage of your holding’s worth basis to give the amount some perspective. You should consider this against items such as brokerage fees, barring and freight in ETF’s, property management fees and rates, etc for other investment or asset classes.

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RESUMPTION OF PICKUPS, BUYBACKS, & CASH SALES DURING COVID-19 EVENT

28 March 2020

We will implement an appointment system from 4pm AEST Monday 30 March to allow people to book a time to visit our office to:

  • pick up orders currently on hold
  • sell back gold, silver or platinum bullion bars and bullion coins to us (no collectibles, jewellery or scrap as usual)
  • pre order by phone and settle same day in cash

This system will only work with the following rules strictly enforced:

  • You must use the online booking system.  A link to that system will be inserted here and available on the website.
  • We will call each booking for the day to get the details on what you are doing.  We will need:
    • You to be available to take that call between 8am and 11am on the day of the appointment.
    • The invoice number(s) for that being picked up
    • An accurate description of what you are selling (the purchase order will be prepared on that basis and can’t be changed)
      • Your bank account details if taking payment by bank transfer
    • What products you wish to order.  
      • You need to visit the webshop (click here) to check what product is immediately available before we call.
  • Prices will be agreed and locked in at that time and can’t be varied.
  • One person only may enter our office at a time per booking.
  • On entering the office you must use the hand sanitiser provided and no one that should be in self isolation is allowed.
  • Each appointment is for 15 minutes only.  Your order (either on hold or placed that day) will be picked and waiting before you arrive.  The purchase note for the buyback will also be prepared in advance.
  • No changes can be made to that provided to us during the phone call beforehand.
  • If you miss your appointment you will need to book another time.  Timeframes will be strictly enforced in fairness to all customers.
  • We suggest you arrive well before but maintain the prescribed distance from each other in the foyer.

We would like to see pickups and buybacks prioritised over cash sales.  Please be considerate of those NEEDING to sell due to financial hardship by prioritising webshop orders over office transactions to free up appointments to allow this.

If everyone adheres to this system we are hopeful to reduce times to 10 minutes to allow more throughput all going well.

Finally we want to thank the many customers who have sent emails of support for the actions we have taken so far.  We do understand this has caused concern for some but we all need to be doing our best to ensure social distancing and the packed waiting room was not doing that.  This new procedure will.

Thank you all for your patience and understanding, and please stay safe.  Buying bullion may keep your finances safe but you need to do all you can to keep you and your community safe too.

COVID-19 Update

22 March 2020

Our webshop is still open.

For the health of our customers and staff and in accordance with the social distancing directives of the government, we have had to make the decision to close our physical store until further notice. Those who have visited recently will know of the crowding issues in the waiting room and understand.

This will also allow us to keep the webshop open longer as we will have the freed up human resources to cope with it. The webshop will reopen at 9.30am 23 March. When ordering online please look for and understand the notes for delayed delivery where we have ordered (and paid for) replacement stock but don�t yet have it in hand. We have stopped giving timing guidance given unknowns in global supply chains at present, just to be conservative. We are not, however, selling anything we don�t already own.

Alternatively you can buy Gold Standard (AUS) or Silver Standard (AGS) tokens (fully bullion backed and insured) at Ainslie Wealth or CoinSpot (24/7).

Pickups of course will also be affected however these are securely held in the interim and the 30 day period to collect will be extended accordingly. Alternatively if you wish to pay to have your �on hold� goods shipped to you, you can email us at [email protected] and quote your invoice number, provide your delivery address and we will send you an invoice for delivery. We will ship once paid (other than Thursdays and Fridays). NOTE - StarTrack Express have advised they are not taking signatures for the same social distancing reasons and this voids our insurance so please note deliveries will not be insured.

We need to stress that this is purely an interim measure for the health and wellbeing of all, and nothing more. Ainslie have been around for over 45 years with our customers our priority and these measures continue that commitment. We do understand this will cause some consternation for many and can only ask that you understand this is out of our control and we are doing our best for all concerned in unprecedented times.

We will likely still be unable to handle incoming calls as has been the case last week, however if you have an urgent query, not already covered above, email us on [email protected] and we will respond when we can. We will also update the website pop up with any developments.

We wish you all the very best of health and look forward to seeing you again in better times.