Gyroscopic Investing

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?

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.

They are heading for political instability

https://old.reddit.com/r/ChurchOfCOVID/ ... tria_come/

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...

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.

Singapore maybe? Or is it too close to China?

MangoMan 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 .
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.

Hal wrote: ↑Sat Dec 04, 2021 3:21 pm

MangoMan 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 .
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.

Hal wrote: ↑Sat Dec 04, 2021 3:21 pm

MangoMan 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 .
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.

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.

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..).

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.

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