Offshore Gold Is Easy To Do
Dr. Marc Faber was recently interviewed and asked about owning Gold and Silver. His specific reply was “I prefer to own PHYSICAL Gold and to store it OUTSIDE the United States” (emphasis ours, hear it at around 13:30 in the video below). If you want to take his advice you may be wondering how the average person can easily do this.
The U.S. Government does throw some paperwork in your way (if you are a U.S. citizen, you know, “Land of the Free”) that you MUST fill out annually if you have any financial account offshore, but it is NOT difficult to comply. Note that if you hold physical Gold in a safe deposit box in your own name (not a trust, corporation, etc) that appears to NOT require the reporting. BUT, you need to travel!
Learn about the reporting here.
There is one vendor we recommend that (check your own tax advisor!) seems to legally allow you to sidestep the reporting since they are a U.S. company offering offshore Gold storage.
In general, though, it is extremely easy to open an account, fund it, then buy Gold, Silver or even Platinum (the 3 precious metals mentioned by Dr. Faber) and store it outside the United States.
The companies that we personally use and recommend – and are small investor friendly besides – are: