SiPlaGo - True Values
Why you shouldn't keep precious metals in bonded warehouses.
There are quite a few Germans, Austrians, Swiss and other nationalities who keep their precious metals in a bonded warehouse, e.g. in Switzerland. There are enough precious metal dealers who offer this service to their customers. The big advantage at first glance is the omission of VAT when buying silver, platinum and palladium. But you should think through the storage of your own precious metals in a bonded warehouse to the end. Then you will realize that not everything that glitters is gold in the bonded warehouse.
Before you store precious metals in a bonded warehouse, you should think about the following points:
1.
The bonded warehouses are transit warehouses and were created for traders who need to
transport goods through different countries. Instead of importing the goods into a country
(a lot of paperwork, authorities, customs, etc.) and exporting them again (the same work
again), the goods are stored in a duty-free warehouse without much effort and can be
exported again without much effort. The bonded warehouse is actually only intended to
temporarily store the goods for a specific, manageable period of time. Anyone who uses the
duty-free warehouse for the long-term storage of goods is abusing the duty-free warehouse.
2.
The bonded warehouse is under official supervision and is closely monitored.
3.
Switzerland is in the process of checking the status of its bonded warehouses, as
international pressure is increasing here too. Switzerland is accused of using the bonded
warehouses as a hiding place for illegal money and tax evasion by criminals.
4.
Do you know how and under what conditions you get your precious metals that is in the
duty-free warehouse? Picking it up yourself could be problematic, maybe even impossible, as
your name is unknown there and only the name of your dealer is known. How do you get your
precious metals if your dealer is no longer there (keyword insolvency)? Should you still be
able to pick up your precious metal, a customs officer (= state) will be present, fees and
taxes will apply, you will have to identify yourself to a state official and you will be
officially registered.
5.
Can you sell or collect your precious metal in a crisis? How?
6.
During a crisis, the physical removal of your precious metals from the bonded warehouse is
hardly possible in practice. The bonded warehouses are huge warehouses that store goods
belonging to tens of thousands of people and companies. In a crisis situation, thousands of
people and companies will probably try to get their goods out of the bonded warehouse.
However, there are only a few customs officers on site who have to document and account for
every removal. Be prepared for very, very long waiting times.
This makes it clear that a duty-free warehouse is a very bad form of storage for precious metals in an emergency. In contrast, working with Atlantic Canada Metals Inc. offers you the following benefits:
Storage in a 24/7 high security warehouse in Canada.
Canada is one of the most economically and politically stable countries in the world.
Precious metals can be bought VAT-free in Canada.
No official registration, no customs officer.
Diversification out of the euro area and out of Europe.
Storage outside of the banking system.
The stored precious metals are fully insured.
The customer becomes 100% economic and legal owner.
Every time there is a change in stock, the customer receives a new stock overview and a new certificate of ownership of his precious metals.
VSale and delivery is possible at any time.
Viewing, touching, counting and photographing your own precious metals is possible.
There are no taxes on sale or delivery in Canada.