Loco Zurich - silver/gold purchases and storage.

Harry227

Has anyone experience of this type of precious metals purchase with overseas storage?  A number of sites offer this, one of which, for example, is Chards.

https://www.chards.co.uk/vat-free-british-1oz-silver-coins-switzerland/13363

"These VAT Free Silver 1 oz CGT Exempt Coins - Loco Zurich are stored in a bonded warehouse in Zurich, Switzerland and intended for investors looking for long-term bullion storage."

Questions include: while Chards promise to buy back your PMetals, what happens if the company goes bust/is nationalised/etc./etc.  and a host of other possibilities?

I've purchased from Chards previously and they seem to be a decent, competitive bullion dealer, but this alternative option hasn't been something I've considered, until now.

InvesterJones

My first question would be why would you want to? Previously you've posted about wanting possession of precious metals as a kind of 'what if' scenario, but if they're held by someone else would that still meet your objectives?

Mickie2323

Harry227 said:

Has anyone experience of this type of precious metals purchase with overseas storage?  A number of sites offer this, one of which, for example, is Chards.



"These VAT Free Silver 1 oz CGT Exempt Coins - Loco Zurich are stored in a bonded warehouse in Zurich, Switzerland and intended for investors looking for long-term bullion storage."

Questions include: while Chards promise to buy back your PMetals, what happens if the company goes bust/is nationalised/etc./etc.  and a host of other possibilities?

I've purchased from Chards previously and they seem to be a decent, competitive bullion dealer, but this alternative option hasn't been something I've considered, until now.

Basically pros are VAT free for UK residents; secure storage/temp controlled/insured; out of country investment so you're diversifying your holdings internationally; etc.  Cons include: the storage costs for smaller holdings; sell back only to the dealers usually; costly if you want your holdings out of the bonded storage facilities and delivered to your country/home.

Yes, Chards offer this form of investment/holding and others such as Goldcore; Bullionbypost; Auronum; Britihbullion; etc. Some are for large investors/companies, others for smaller investors. 

wmb194

Harry227 said:

Has anyone experience of this type of precious metals purchase with overseas storage?  A number of sites offer this, one of which, for example, is Chards.

https://www.chards.co.uk/vat-free-british-1oz-silver-coins-switzerland/13363

"These VAT Free Silver 1 oz CGT Exempt Coins - Loco Zurich are stored in a bonded warehouse in Zurich, Switzerland and intended for investors looking for long-term bullion storage."

Questions include: while Chards promise to buy back your PMetals, what happens if the company goes bust/is nationalised/etc./etc.  and a host of other possibilities?

I've purchased from Chards previously and they seem to be a decent, competitive bullion dealer, but this alternative option hasn't been something I've considered, until now.

Buyback promises are always nonsense but to be fair to Chards I cannot see that it actually makes any promise.

"You may be able to sell your investment products back to Chards at the current buy back rate. "

https://www.chards.co.uk/info/terms-and-conditions

"Section E...

1.1 We may at our sole discretion agree to purchase from you any gold, silver, platinum, palladium, brass, copper or other precious metal or base metal goods (including UK coins, bars and medallions) or jewellery products or any other similar goods you wish to sell to us (all together “Goods”)."

If it goes bust you'll have the usual issue of going through administration and waiting to see whether you'll get back the items for which you're the supposed beneficial owner and you might have to pay something towards administration fees.

ColdIron

Semicolon alert; 9 in 2 small paragraphs