Bullion Vault (bullionvault.com)

Bullion Vault, partly owned (11%) by the World Gold Council, is the largest online gold dealer in the world. The company is based in London, England. They specialise in investment grade gold and silver bullion. The company was founded in 2005 and in September, 2008, was elected into the London Bullion Market Association (LBMA).


bullionvault

Services offered

Buying, selling and storage of gold and silver. Contrary to other gold dealers, Bullion Vault does not offer gold or silver coins, but rather specialises in investment grade bullion. Bullion Vault does not ship precious metals to its customers.
Instead of shipping gold to customers, they store it in vaults and put it in your name. After opening an account, you are given an alias to check on your holdings through their site, which provides daily audits of bars sold and bought and by whom, along with the corresponding serial numbers, therefore guaranteeing the existence of your holdings. Their platform provides for easy trading of your holdings.

Offshore storage

They have vaults in Zurich, London, New York, Toronto and Singapore, and clients can choose which one they want to have their gold stored at.

Delivery / Shipping

Bullion Vault does not ship precious metals directly to its customers. However, it is possible for them to withdraw their gold from the chosen vault, albeit with an exit fee.
Prices
Due to its strong position in the market, its large inventory and its ties to major gold producers, Bullion Vault is able to procure gold and silver at very low prices.
Their commissions rates are 0.5% (under $75,000), 0.10% (under $750,000) and 0.05% for larger amounts.
Their storage fees are 0.01% monthly for gold (min. $4) and 0.04% monthly for silver (min. $8).

Exit fees

While it is possible to withdraw one’s bars at any time, there is a cost of 2.5% for withdrawing whole gold bars and an additional 5% surcharge for withdrawals under 400 ounces. For silver, there is a cost of 10% (whole bars only).

Payment options

Payments can be made through bank wire transfer.
Currencies accepted : US dollars, euros, pounds Sterling.

screenshot-bullionvault

Advantages

>> Low rates for buying and selling in any quantities
>> Reasonable storage costs
>> Offshore storage

Disadvantages

>> Exorbitant cost of withdrawing one’s investment
>> No certificate of ownership issued
>> No full ownership (mutual ownership)

Conclusion :

For those who wish to invest in gold or silver in small or large quantities and are not interested in gold or silver coins, Bullion Vault is highly recommendable, especially for investors who wish to trade back and forth, since their platform is conceived for that express purpose.
However we find that their exiting fees are prohibitive.