Loading ...Vault Chain
Anybody using this? Extract from https://online.kitco.com/kitco-vault-chain-gold
“…
Physical Delivery from VaultChainTM Gold accounts
Your VaultChainTM Gold holding represents 100% ownership of .9999 pure gold bullion stored securely at the Royal Canadian Mint. Account holders can request physical delivery of this gold at any time**, choosing from many formats of fine gold. Visit Kitco’s online store for many physical gold options.
** Subject to certain requirements. Fabrication and delivery fees will apply, and are based on the products requested.
VaultChainTM GOLD Vs ETFs
VaultChainTM Gold from Kitco offers 1:1 ownership, which is an advantage over ETFs and other collective vehicles.
In an ETF, each unit represents ownership in a fund or trust that in turn holds physical gold with a bank or other depository.
Each fund or trust charges an annual fee to cover management, storage, marketing and administration. Final beneficial owners do not control the underlying asset and cannot take physical delivery.
With VaultChainTM Gold, there are no fabrication costs, and no management or storage fees. This ensures that you avoid the layers of expense associated with asset management products like ETFs.
There is no intermediary trust or fund with VaultChainTM Gold. Rather, physical gold is owned directly via a blockchain database and is deliverable in full.
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So.. the Royal Canadian Mint has gold.. but the Canadian Government has none? Cheezus.. when the going gets tough.. can I trust Oh Canada?
I use GlintPay the “gold currency”
https://glintpay.com/en_us/
Doesn’t have the mastercard for canada 🙁
I suggest looking at MF Global history might help.
OL!!! Good advise.
To be clear I am not making any statements about Kitco or their operation of which I know nothing. The clients at MF Global run by John Corzine had allocated numbered gold bars, treasury bills and when MF Global
went under so did the assets. If you have a intermediary between you and your assets you own nothing.
Right now I’m 100% paper gold (futures). With a few silver coins. I’m thinking what is the optimal setup going forward. For example, for my GOLD allocation: 50% physical buried in a hole in my backyard (could be issues during winter months!). Have multiple sized coins/bars/chips for ease of use to purchase different valued goods. 15% at GoldMoney and 15% Glintpay for ease of use in case we don’t go back to stone age, and leverage their MasterCard to purchase stuff. And maybe another 20% in a 1:1 VaultChain Kitco (not as good as phys gold, but next best thing?).
Total levity here. My metal detecting daughter could find your gold in three minutes! You hide metal near metal and hope your adversary is not as good as my expert. She would still find it. Some of the higher end models costing 2K can differentiate metal by metal. Her most common complaint. Why I did not take her to the Pilbarra or the Yukon. I told her either a Polar bear might eat her or she would be the only cute girl in the province and I did not think much of camping or roughing it.