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Old 04-02-2016, 01:08 AM
richardthebrave richardthebrave is offline
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Default Your recommended gold/silver storage facility

Hi everyone, i would like to ask if anyone has tried or is currently using Bullionstar or any other precious metals facility in Singapore. Which one would you personally recommend?

I am thinking of storing a small percentage outside Manila. (I have enough physical metals on-hand)
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Old 09-02-2016, 08:29 AM
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MasterID MasterID is offline
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All storage companies are only as good as the company itself. So far, none of these players come out and shout they are the biggest with the deepest financial pockets. But given the reliability for being branded Singapore company, the difference probably is how easy and convenient to access your stuffs at a reasonable price. Maybe also how promptly they will buy your stuffs should you sell it and buy somewhere for storage, instead of shipping them over.

I don't have enough even to fill up the smallest bank safe deposit box.
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Old 13-02-2016, 04:10 AM
richardthebrave richardthebrave is offline
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Originally Posted by MasterID View Post
All storage companies are only as good as the company itself. So far, none of these players come out and shout they are the biggest with the deepest financial pockets. But given the reliability for being branded Singapore company, the difference probably is how easy and convenient to access your stuffs at a reasonable price. Maybe also how promptly they will buy your stuffs should you sell it and buy somewhere for storage, instead of shipping them over.

I don't have enough even to fill up the smallest bank safe deposit box.

Thank you for your insight. I have been checking them out including other options. Right now I am deciding whether to physically buy and deposit in Singapore with any of the available players there OR just buy in BitGold.
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Old 13-02-2016, 06:41 AM
moyyewhon moyyewhon is offline
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Quote:
Originally Posted by MasterID View Post
All storage companies are only as good as the company itself. So far, none of these players come out and shout they are the biggest with the deepest financial pockets. But given the reliability for being branded Singapore company, the difference probably is how easy and convenient to access your stuffs at a reasonable price. Maybe also how promptly they will buy your stuffs should you sell it and buy somewhere for storage, instead of shipping them over.

I don't have enough even to fill up the smallest bank safe deposit box.



bluff
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bitcoins are disruptive in nature, but banks are going to use it. So, my prediction is, the next industry to be UBER'ed will be gold...
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Old 29-04-2016, 03:03 PM
Johntan Johntan is offline
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Quote:
Originally Posted by richardthebrave View Post
Hi everyone, i would like to ask if anyone has tried or is currently using Bullionstar or any other precious metals facility in Singapore. Which one would you personally recommend?

I am thinking of storing a small percentage outside Manila. (I have enough physical metals on-hand)
It really depends on what you want.
For some people, they go for the cheapest box (of course most people would want this).
While others that I know of, don't mind spending that extra few hundreds of dollar per year just so they can have a peace of mind considering the fact that you yourself is not living in Singapore. Some of the safe depository here in Singapore has insurance coverage and all etc..

Really, it depends on what you require
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Old 08-05-2016, 11:31 AM
admin admin is offline
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Quote:
Originally Posted by richardthebrave View Post
Hi everyone, i would like to ask if anyone has tried or is currently using Bullionstar or any other precious metals facility in Singapore. Which one would you personally recommend?

I am thinking of storing a small percentage outside Manila. (I have enough physical metals on-hand)
Have you made any moves in offshore storage already?
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Old 17-05-2016, 04:33 PM
stektan stektan is offline
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Actually, I do not recommend putting any gold or silver in banks or gold bullion depository. You will not have access to it when you need it most. Better to invest in storage facilities in your home or office where you can have access to it when you need it without asking for someone's approval.
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Old 01-06-2016, 09:11 PM
thinkvesting thinkvesting is offline
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Originally Posted by stektan View Post
Actually, I do not recommend putting any gold or silver in banks or gold bullion depository. You will not have access to it when you need it most. Better to invest in storage facilities in your home or office where you can have access to it when you need it without asking for someone's approval.
This is a feasible option in Singapore. However, I understand richard's concern about having his precious metals overseas instead of in Manila, Philippines. For tax purposes and personal safety and security, it is more beneficial for him to store these in Singapore.

There are numerous differences in both countries. Importing pm coins or bars for example can be taxed up to 22% in the Philippines. If he is thinking of continually making large purchases per year, then a safety deposit box in SG more than pays for itself in terms of his duties/taxes savings.

Hope this helps,

TVPM
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