Gold storage in Austria

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LazyInvestor
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Gold storage in Austria

Post by LazyInvestor » Fri Dec 03, 2021 2:05 pm

What do you think about this gold storage option in Austria? https://www.muenzeoesterreich.at/eng/in ... ld-storage

This seems to be the company that's producing Vienna Philharmonic coin. Their markup on 1 oz coins seems to be around 3.5% and storage fees with insurance range from 0.3-0.48% per year depending on the amount. Does this seem like a fair deal or it's a ripoff?
coasting
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Re: Gold storage in Austria

Post by coasting » Fri Dec 03, 2021 6:07 pm

Mark up and storage fees seem like a fair enough deal.

My takeaways:
This is the Austrian Mint.
It appears you must be an EU citizen or permanent resident to open a gold storage account.
If you want to sell, the Austrian Mint is not permitted to buy back. Instead you arrange terms and sell to a designated dealer Schoeller Münzhandel.
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Re: Gold storage in Austria

Post by boglerdude » Fri Dec 03, 2021 10:12 pm

They are heading for political instability

https://old.reddit.com/r/ChurchOfCOVID/ ... tria_come/
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Vil
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Re: Gold storage in Austria

Post by Vil » Sat Dec 04, 2021 1:47 am

boglerdude wrote:
Fri Dec 03, 2021 10:12 pm
They are heading for political instability

https://old.reddit.com/r/ChurchOfCOVID/ ... tria_come/
I've been several times in this country and also pretty much aware of what the 'national mentality' is... Would not put instability and Austria in the same sentence, despite the current chancellors shuffle. For me Austria is pretty much in the same league as Germany, even though their economic powers are no way comparable ( so does their population base, territory, etc.). Moreover, Austrians are the same folks that are the least susceptible in whole EU for receiving loads of immigrants from Africa, Iraq/Syria/Afghanistan , which is not necessarily a bad sign too...

Disclaimer: my kids are learning German as 2nd language, so it might be my opinion is biased...
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Re: Gold storage in Austria

Post by pugchief » Sat Dec 04, 2021 12:12 pm

If you're going to store gold overseas, I wouldn't do it in Europe. They aren't as insane as Australia, but they're close. Pick a country that will likely keep some level of protection going forward. That means nothing in the collapsing 'West'.
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Vil
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Re: Gold storage in Austria

Post by Vil » Sat Dec 04, 2021 1:47 pm

Pugchief, I am genuinely interested which normal countries beside the collapsing West do you refer to? Or I do not get the irony in your post.
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Xan
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Re: Gold storage in Austria

Post by Xan » Sat Dec 04, 2021 2:08 pm

Singapore maybe? Or is it too close to China?
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pugchief
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Re: Gold storage in Austria

Post by pugchief » Sat Dec 04, 2021 2:54 pm

Vil wrote:
Sat Dec 04, 2021 1:47 pm
Pugchief, I am genuinely interested which normal countries beside the collapsing West do you refer to? Or I do not get the irony in your post.
Yes, Singapore, or maybe some of the second world countries in central/south America like Panama.
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Hal
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Re: Gold storage in Austria

Post by Hal » Sat Dec 04, 2021 3:21 pm

pugchief wrote:
Sat Dec 04, 2021 12:12 pm
If you're going to store gold overseas, I wouldn't do it in Europe. They aren't as insane as Australia, but they're close. Pick a country that will likely keep some level of protection going forward. That means nothing in the collapsing 'West'.
They aren't as insane as Australia . ;D
Spot on Pugchief, spot-on. You made me remember an old video clip
https://www.youtube.com/watch?v=SECVGN4Bsgg
It's a choice between bad and worse. My choice is still having your Allocated holdings in Switzerland and Singapore.

Edit:
GoldMoney for Switzerland. Last time I looked, allocated was 100g bars. At 1kg, you can physically transfer/withdraw.
SGPMX for Singapore. Just look at their website! Concierge service for unloading your 400 Oz bars from your private jet...
Also do smaller sizes for us mere mortals.
Last edited by Hal on Sat Dec 04, 2021 3:39 pm, edited 1 time in total.
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Vil
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Re: Gold storage in Austria

Post by Vil » Sat Dec 04, 2021 3:38 pm

Hal wrote:
Sat Dec 04, 2021 3:21 pm
pugchief wrote:
Sat Dec 04, 2021 12:12 pm
If you're going to store gold overseas, I wouldn't do it in Europe. They aren't as insane as Australia, but they're close. Pick a country that will likely keep some level of protection going forward. That means nothing in the collapsing 'West'.
They aren't as insane as Australia . ;D
Spot on Pugchief, spot-on. You made me remember an old video clip
https://www.youtube.com/watch?v=SECVGN4Bsgg
It's a choice between bad and worse. My choice is still having your Allocated holdings in Switzerland and Singapore.
I would vote for Swiss, there are some decent options out there, but nothing that fits overseas retail investors AFAIK.
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pugchief
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Re: Gold storage in Austria

Post by pugchief » Sat Dec 04, 2021 6:17 pm

Hal wrote:
Sat Dec 04, 2021 3:21 pm

https://www.youtube.com/watch?v=SECVGN4Bsgg
Good lord, the lead singer's eyes go laterally in different directions. That is a known endearing feature of pugs, known as pugeye.
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Re: Gold storage in Austria

Post by coasting » Sat Dec 04, 2021 6:39 pm

Hal wrote:
Sat Dec 04, 2021 3:21 pm
pugchief wrote:
Sat Dec 04, 2021 12:12 pm
If you're going to store gold overseas, I wouldn't do it in Europe. They aren't as insane as Australia, but they're close. Pick a country that will likely keep some level of protection going forward. That means nothing in the collapsing 'West'.
They aren't as insane as Australia . ;D
Spot on Pugchief, spot-on. You made me remember an old video clip
https://www.youtube.com/watch?v=SECVGN4Bsgg
It's a choice between bad and worse. My choice is still having your Allocated holdings in Switzerland and Singapore.

Edit:
GoldMoney for Switzerland. Last time I looked, allocated was 100g bars. At 1kg, you can physically transfer/withdraw.
SGPMX for Singapore. Just look at their website! Concierge service for unloading your 400 Oz bars from your private jet...
Also do smaller sizes for us mere mortals.
How about Hard Assets Alliance? Switzerland storage in Loomis vault. Singapore storage in Malca-Amit vault.
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Hal
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Re: Gold storage in Austria

Post by Hal » Sun Dec 05, 2021 1:02 am

coasting wrote:
Sat Dec 04, 2021 6:39 pm
How about Hard Assets Alliance? Switzerland storage in Loomis vault. Singapore storage in Malca-Amit vault.
Haven't heard of them. Found this ->https://greenbullresearch.com/hard-asse ... ce-review/

If they have not been in business for, say 10 years, I would be cautious. Wait until they have a track record.
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Vil
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Re: Gold storage in Austria

Post by Vil » Sun Dec 05, 2021 4:01 am

What happened with the notorious ZGLD (Zurcher Gold) ETF ? Think it's now (though not sure) available only on SIX and for Swiss users ...?
Back then, it was popular as one of the 'marketing' points were that you can exchange what you have in the ETF to physical metal in one of the Zurcher Cantonal Banks branches (though a quick check in their prospect show that the gold is held in the form of bars, each with a standard weight of approx. 12.5 kg..).
LazyInvestor
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Re: Gold storage in Austria

Post by LazyInvestor » Sun Dec 05, 2021 6:20 am

The storage fees for the mentioned providers:

Austrian Mint 0.4%
Hard Assets Alliance 0.7%
GoldMoney 0.18%

It's hard to judge what's going on without knowing how much it costs them to store the stuff.
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Re: Gold storage in Austria

Post by johnnywitt » Tue Jan 04, 2022 6:29 pm

Seems like Austria & Germany are returning to their Authoritarian Roots.
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