Tuesday, October 10, 2006

Who is this Bullion Vault?


I am on vacation this week and so am surfing the internet more then I usually do. In the process, I found an interesting website. One that seems to go along with the late night commercials that try to encourage people to buy gold. While, I personally don't believe buying gold is a wise idea, since it tends to be harder to aquire and/or liquidate. (Note: It's another area where I agree with Dave Ramsey. Buy mutual funds, besides there are funds out there that invest in gold.) Still though, I have always had a fantasy of owning a bar of gold bullion and having it sit in my safe deposit box.
According to the website,

You can buy gold here. You will own proven, pure gold grams of market-approved bullion bars.

Well that's nice, but who are these people? How do I know I can trust them?
There website continues,

The gold you buy is stored in the Brinks vault of your choice: in New York, London or Zurich.

Well that's nice, I know I can trust Brinks, but I still don't know who BullionVault.com is. As such, I still would rather hold on to the bullion myself, in my own safty deposit box.
They continue by saying,

Buying gold, or selling it, on our public, online gold exchange gets you a better gold price.
Buy gold bullion with rock-solid safety, no hassle, and at the best gold prices in the world.

Well, geez, if they have their very own public gold exchange, they must be ok. Yeah, like that would really set me at ease. If their safty is rock-solid, how come I have never heard of them? I am intriqued, but besides needing to have the funds for such an investment, I need to know more about this BullionVault.com. That's the way I see it, and now for your thoughts.

3 comments:

  1. I would exercise caution with this unknown online company. I suggest asking for free samples of their products, so you can try it out, before you decide on a purchase. Incidentally, gold prices today (oct 10, 2006) are $572 an ounce! thanks, sean

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  2. There are other sites like this. GoldMoney.com is another example. Gary North, a self-professed gold bug, uses GoldMoney.com.

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  3. If you really want to own a bit of gold, one decent way is to buy a gold coin from the US Mint. You want to make sure you are buying their investment grade gold bullion coin though. Their url is www.usmint.gov.

    It's not a bar of gold but it's gold.

    db

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