Investment Rarities

[xy16644]

Hello All,

I am glad I joined this forum! :p

I have bought two 1000oz silver bars from Investment Rarities. They have stored the bars in allocated storage in a bank in New York where it is insured. The agreement for storing the bars is between myself and the bank storing the bars so Investment Rarities has no say in the bars once they have delivered them to the bank. I also have the serial numbers from the bank on the inventory they issue me every year when I have to pay the storage fees.

My question is, have I made the right decision storing/buying my silver this way? I simply cannot store my silver myself as I travel all over the world for my job.

I have read LOADS on buying silver and Investment Rarities was the only choice when it came to safe 3rd party storage but having read Jasons article on the Perth Mint (and allocated storage) I am now REALLY nervous. I have emailed Investment Rarities many times with my concerns and they reply just fine but I still have this doubt. I have even (falsely) told them I will be in NY and asked to visit the storage facilty and they have said no problem...just bring photo ID with! To date I have not yet had the opportunity to visit NY (I live outside of the US).

Can someone comment or shed some light on my situation?? :confused:

Am I being paranoid?

Many thanks as always.

[Kelly]

Am I being paranoid?

No.

About the only advise you are going to get from most of the people on this forum is that you need to take physical possession of your silver. Look at the requirements in your contract for taking possession, fulfill those requirements, and hold your silver yourself.

And welcome to the forum.

[gypsybiker45]

I dont know where you live, but you need to get possesion of part/all of it,you have 2000 oz of silver sitting in a bank ,in a nation that isnt your home.rather than hope for the best, i would convert at least half into 1 oz bullion coin, or at least 100 oz bars,and keep them.

[DaveK]

Am I being paranoid?


Nope. I'd sooner bury my silver somewhere than leave it in a vault known to the government.

If I were you I'd convert those big blocks to reasonably sized bars and find places to put them where you cannot realistically be denied access.