Thursday, September 18, 2014

BullionVault Lowers Commissions For Buying Gold And Silver

by Roger Bond on November 26, 2012

Now The Cheapest Gold Is Even Cheaper Yet

bullionvault-lowers-commissions

BullionVault Is Cheapest Way To Buy Gold

BullionVault, often touted as the very lowest cost place to buy and store gold, has just lowered commission rates on buying and selling gold and silver.

So now you can get even more gold or silver for your money.

One of the biggest drawbacks to buying gold for many people has been the idea of commissions and spreads. Many vendors of precious metals will actually try to hide or mask the costs you pay to buy or sell gold and silver; they are ashamed of how much they charge.

Not BullionVault. They are very upfront about what fees you pay to do business with them. Now, being British, they refer to this as “tariffs”. See their full schedule of costs here.

While low cost does not always make the decision for you, if you have narrowed it down to BullionVault versus another company, you might as well save some money and get more gold for your Dollar (or Pound or whatever) at BullionVault.

At the end of the day, it’s all about how many ounces of gold or silver you own (probably expressed in grams or kilograms). So the less you pay in commissions to buy and sell, the more wealth you preserve for yourself.

BullionVault Commissions and Fees

Now, since commissions and fees change (as noted by today’s fall in rates – yeah, prices going DOWN!) I would rather you follow the link above to know what commissions BullionVault is charging at a given time. But as of today, here is what it is:

  1. Dealing commission each time you buy or sell.0.5% maximum falling to a minimum of 0.05% depending on the amount of gold or silver bought or sold in the year. Discounts start at $75,000.
  2. Storage & insurance fee for as long as you hold.0.12% per year on gold, billed monthly and subject to monthly minimum of $4.
    0.48% per year on silver, billed monthly and subject to monthly minimum of $8.

You do need to pay attention to minimums on the storage side. Just as with any vendor for buying and storing gold or other precious metals, minimums apply. If you buy $100 worth of gold or heaven forbid, silver, your fees will be outlandish as a percentage.

To actually get down to that 0.12% per year on gold, you need to be storing $40k in metal. That’s not to say that storage isn’t cheap for $10k, it is; it just isn’t as low as 0.12%.

The storage costs for silver are higher because the volume of metal to store, per dollar, is much higher (currently over 50 times more!).

Notice that there is no minimum commission, or tariff, on purchases and sales. The rate is that which is stated regardless of how small an amount – and the rate goes down if you have a large purchase or sale.

So if you are looking for the cheapest place to buy and store gold, offshore, outside the banking system, then you have found it in BullionVault.

The current promotion is that if you follow this link and open an account you will be given 4 free grams of Silver to begin trading (see terms and conditions on their site).


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{ 4 comments… read them below or add one }

Pat McConaha November 26, 2012 at 11:26 am

Great post, my friend. I have always had some gold put away in a deposit box. Should have added more to the collection a couple of years ago! Great to know there are more ways to get in at lower prices. Thanks for the great info.

Reply

Meredith November 26, 2012 at 1:22 pm

Very good information. I really do need to look into this but just wasn’t sure how. Thanks for the tips.

Reply

Ty Johnson November 27, 2012 at 7:58 pm

I may be blind but where is the sign up for the 4 free grams of silver? I was going to sign up but I never saw mention of anything free

Reply

admin November 27, 2012 at 10:25 pm

There is a banner on the right that specifically offers 4 free grams of silver, but most any link I have to their website should give you that same gift.

Thanks.

Reply

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