posted on Jun, 24 2008 @ 06:12 AM
If you want bullion - deal in gold - there are tax advantages compared with other metals.
Deal in physical gold - not paper gold.
Use allocated storage.
Removing gold from the chain of integrity devalues it. IOW, if you take personal delivery then when you sell it will be at a discount because of the
risk you have tampered with the bullion. Keeping it within the chain of integrity (only handled, moved and stored by certified professionals) means
that you will get the best price when you sell.
The only people I deal with for this are www.bullionvault.com
I spent 2 months checking them out back in 2005/6 and have been using them ever since.
They maintain an on-line 24/7/365 internal market where no debt is allowed in the system. It is audited and published daily, and they keep it liquid.
You can choose to buy and sell in Euros, Pounds or US$ and you choose whether to store your gold in New York, London or Zurich. Commissions are
ridiculously low (0.02% for the amounts you are talking about) and storage costs are negligible. You can take physical delivery of your gold if you so
Even if you don't deal with them, read their articles on the website - the educational value of them is priceless.
If you do deal with them, call them for a special quote as for the amount you are talking about they may need to adjust their orders and will probably
give you a special rate.
Paul Tustain, the founder of bullionvault, wrote much of the software for interbank trading for the BIS. He made his original fortune writing the TAB
betting/gambling software and then moved into setting up secure electronic banking systems. He knows how money really works and that is why he set up
bullionvault - to enable the average Joe to protect his wealth by owning gold without getting fleeced with commissions and storage fees far above what
the big traders pay.
I have complete confidence in them.
[edit on 24-6-2008 by News Junkie]