Wheaton Precious Metals (WPM) is on track to meet or exceed its guidance both for this year and for ...
Owning Gold as Property
07/08/2014 9:18 am EST
Anthem Blanchard highlights the pros and cons of owning gold as outright property and several ways to buy and hold it.
SPEAKER: Hi, I am here with Anthem Blanchard, CEO and founder of Anthem Vault, a custodian for holding gold as a property. Anthem, how does it work and why would somebody want to use your services?
ANTHEM BLANCHARD: Well, we store gold in the form of kilo bars. We store silver in the form of 1000-ounce Komag silver bars and people can buy parts of a bar or bars. They can buy as little as $25 at a time and they can buy as much as $5 million per order. They can sell as little as a dollar at a time. When we buy back our metal, it is at our dealer cost, so there is a little bit of logistics, but it is really affordable for most folks. Typically, when people go to sell their physical precious metals, they experience a much larger markup and that is simply for the reason that the precious metal dealer that they bought from is not necessarily the same dealer that they are selling back to. The dealer has to account for that spread and in our case…
SPEAKER: You have a very tight spread.
ANTHEM BLANCHARD: Very tight spread, anywhere from 1% to 5% or 6% for a tiny, very small under $100 order. It is very, very affordable. It is orders of magnitude more affordable, especially for smaller amounts of metal for folks out there.
SPEAKER: How does it work with your organization and what does somebody get? Do they have a piece of paper or a title?
ANTHEM BLANCHARD: In our account terms and service, which is the legal document binding us and our clients that clients actually own the metal outright and we state that, so all of the metal is audited every year. We have a PCAOB AICP audit firm, Squire Milner that audits. We have daily audits for Brinks. We will provide our clients with any bar statements from Brinks and the audit upon request and actually clients can even ask to see the metal at Brinks as long as they give us fore notice.
SPEAKER: It is kind of like public storage, getting a storage unit somewhere instead of renting space, except you put the stuff in there for them?
ANTHEM BLANCHARD: Precisely, it is like public storage but for precious goods, so at Brinks and insured by Lloyds of London, so you are getting commercial grade storage and insurance as an everyday retail investor.
SPEAKER: How does somebody find out about Anthem Vault if they are interested?
ANTHEM BLANCHARD: Sure, well they can go to our website, www. Anthem Vault.com, they can follow us on Facebook. Twitter and they can keep abreast of what we are doing there.
SPEAKER: They could call you and get a customer service representative?
ANTHEM BLANCHARD: They can call us toll free, 855-428-2858 and say 554 A Vault and they can reach us at live client support. We are based here in the U.S. and they can also message us if they like as well. It is free to open up an account just to take a look, poke around and call us with any questions. No high pressure buying, no boiler room sales people here; we are just straightforward technology liquid gold provider.
SPEAKER: Thank you, Anthem.
ANTHEM BLANCHARD: Thank you, Jeff.
SPEAKER: Thanks again for joining us at the Money Show.com.
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