Our New Endorsed Solution for Purchasing Precious Metals

News & Current Events Public News & Current Events
,
1

We're very pleased to announce our participation in the Hard Assets Alliance, our newly endorsed solution for purchasing precious metals.

For years, we've received a continuous stream of questions from readers, all essentially asking where's the best place to buy gold and silver?

While we've done our best to review and present an assessed list of the top bullion vendors, the remaining work readers needed to do in comparing each of them was still more challenging and confusing than we were comfortable with. It's been clear that folks are hoping for a single "best of the best" recommendation.

That's why we were so glad when the Hard Assets Alliance was formed, and we had the good fortune to be invited to be a Founding Member. This new platform offers so many clear advantages to customers that we were happy to throw our support behind it.

What is the Hard Assets Alliance?

The Hard Assets Alliance (HAA) is an industry association of well-known economic and investment research firms that strive to help their clients and readers better understand prevailing economic trends and how to intelligently position themselves. Other founding members in the HAA include Casey Research, Agora Financial, Mauldin Economics, and other names likely known to many of our readers.

These firms all share the desire to offer a better way for individuals to buy, store, and sell precious metals than has been historically available to the retail customer.

They have collectively identified an innovative solution, the SmartMetals platform, which offers a superior level of quality, price, and service to the individual bullion investor, and they have agreed to support its development.

The SmartMetals platform was initially developed to provide a robust precious-metals trading platform to governments and the biggest investment banks. Until recently, it has only been available through institutional broker/dealers. But with the advent of the Hard Assets Alliance, the retail customer can now access the benefits of this platform directly.

What are the benefits?

Basically, this solution makes the same advantages enjoyed by institutions available to the retail bullion investor.

Among the most notable are:

  • Excellent pricing - For every order, a least four suppliers provide a bid to meet it. The platform compares them and offers you the best one.
  • Quality of product - The HAA only offers sovereign coins and standard bullion bars, which hold their value more consistently than any other forms.  No numismatics or rare coins. You can buy gold, silver, platinum, or palladium through the HAA.
  • Delivery options - Take physical delivery immediately of your purchased bullion, or opt to have the HAA store it for you safely at low cost.
  • Allocated storage - All bullion (bars or coins) that you purchase and store through the HAA is held in your name at the vault location of your choosing. If you purchase bars, the serial numbers are provided to you. Bullion stored by the HAA is never pooled, margined, or otherwise leveraged.
  • Storage options - You can choose to have your bullion stored in vaults in the US (New York and Salt Lake City), the UK, Switzerland, Australia and/or Singapore. (Metals available at any location are subject to availability) 
  • Storage security - HAA bullion is stored in the same secure vaults as for the major global investment banks and governments that use the SmartMoney platform. These vaults have around-the-clock armed physical security, state-of-the-art electronic protection, and insurance for the full value of your deposit. Their precious metal holdings are audited every day and an audit report containing bar lists is sent to the Hard Assets Alliance daily. In addition, an internationally recognized Big Four auditing firm audits all of the precious metal holdings on a quarterly basis. Precious-metal bar holdings are confirmed with Hard Assets Alliance and reported on the Hard Assets Alliance website. 
  • Low storage fees - Between 0.5%-0.8% per year for gold and silver
  • At-will delivery - Any bullion you store with the HAA will be shipped to you, fully-insured, within 48 hours of your request.
  • Easy, anytime, instant transactions - Once your HAA account is funded, the online system lets you buy and sell bullion and/or request delivery with just a few mouse clicks. You can perform any of these transactions 24/7.
  • Reliability - Since the SmartMoney platform must meet the service requirements of the world's largest investment banks, you can have confidence that if worldwide bullion inventories become tight, the HAA will have the highest reliability that it can fulfill your order when you need to transact.
  • World-class support - In addition to the online system, live support via phone, email, and chat is available to help you 12 hours a day, 5 days a week.
  • IRS reporting - HAA accounts are considered US accounts, even if your bullion is stored in a vault overseas. Therefore you are not required to file IRS foreign-held asset reporting forms such as TD F 90-22.1.

How can I learn more?

Visit the Hard Assets Alliance website. In particular, check out the helpful Frequently Asked Questions section.

What else do I need to know?

The members of the Hard Assets Alliance, including Peak Prosperity, receive a portion of the proceeds transacted through the platform. Because the low-cost structure is a major feature of the program, such commissions are very modest and do not affect the prices paid by clients.

There are minimum purchase requirements: $5,000 for delivery and $10,000 for storage. If you do not have those amounts readily available, you can add funds to your HAA account over time until you have sufficient levels to transact.

Our endorsement of the Hard Assets Alliance in no way refutes the quality of service offered by the other providers listed on our Where to Buy Gold & Silver page or recommended previously through this site. We simply think this new solution offers the best combination of benefits for the widest audience of retail precious metals investors.

We hope our new and longtime readers find this new service of as much value as we think you will. For those who decide to become HAA customers, please share feedback with us about your experience.

Go to the HAA website

 

This is a companion discussion topic for the original entry at https://peakprosperity.com/our-new-endorsed-solution-for-purchasing-precious-metals/

2

So CM endorses Bullionvault, GoldMoney and HAA?
Would be interesting to see the relative merits of each compared, but I guess we'll only know when the excrement hits the fan. 

How much gold/assets does HAA actually have? 

3

This new platform and storage opportunity fits right into our larger strategy for owning gold and silver, which, I will remind everyone, has at its core physical that you have at your immediate disposal.  For some that will mean a safe deposit box at a local bank(s), for others careful storage (and silence!) somewhere on their property.  
But for many, there will either be additional gold and silver they'd like to purchase, or there is not a local storage option that makes sense at the time, and thus the ability to safely store gold and/or silver, coupled with the ability to rapidly buy and sell electronically is something of a necessity.

Bullion Vault, Gold Money, and now HAA all offer ways to diversify various risks and meet different needs.  It is wonderful to have these options to recommend…the offerings have expanded a lot since I first bought my first ounce of gold.

4

Thanks, Chris. I'd also be interested in a comparison of these three services, since they are quite similar.

5

Chris, thanks for this valuable information on the HAA. 
I have used Bullionvault for several years. 

I did some research this morning comparing HAA to Bullionvault and here are some considerations  - Chris and fellow subscribers, please comment:

1.  Annual custody fees (storage and insurance); silver is more because it takes up more space per unit of value.   HAA :  0.5% to 0.7% Gold, 0.6 to 0.8% silver.  Bullionvault: 0.12% for gold; 0.48% for silver.  Bullion is up to 1/2 the cost of HAA.

2.  Transaction commissions:   HAA:   gold: 1.7% to 3.0%;  silver: 1.7% to 3.5%.    Bullionvault transaction commission, gold or silver:   0.8% max, less for transactions above $30k.  BullionVault is much cheaper. HAA also charges a one-time $35 account set-up fee.

3.  Best price.  I compared gold trading prices simultaneously on both platforms twice today, three hours apart.  The second check pretty much reflected the same as the first; prices per ounce for HAA / Bullion Vault:   Buy: 1633 / 1587, Sell: 1534 /1581.  If this three-hour market window is typical for both platforms, then it's cheaper to purchase on BullionVault (about $100 cheaper!) and just about the same sale prices, so looks like Bullionvault is more lucrative, if I am understanding the platforms correctly  - better check this out, folks.    

4.  HAA is an international platform, like Bullionvault, but may have more bidders and so could yield more competitive offers?  Bullionvault has 39,000 users but they may be less active traders than HAA users?  Some of the HAA traders are big money boys /banks and governments so would they be interested in competitive pricing of indivdual small holdings when things get tight?  Bullionvault is sometimes the buyer on their platform and my impression is that they keep things moving along by participating  - for their legitimate trading profit and/or to keep trading active?

  1. If HAA participants want to withdraw their gold, and if for any reason it is not all there, the big players could have first dibs on what is there due to their power  - governments and big banks?

  2. Certified purity and weight, and so instant tradeability.  Both platforms seem equally dependable.

  3. Bullionvaut requires the hassle of filing the TD F 90-22.1, HAA does not.  Not a big deal for me to complete the form.

Everyone should confirm the accuracy of my online and phone research before making a decision of platforms.  I did the research on the fly.

thanks,

   Phil

 

 

6

I quickly compared Hard Assets Alliance's prices for some random items with my usual dealer, Northwest Territorial Mint.  What I found is below:
                                               NWTM                                                          Hard Assets Alliance
Gold Krugerrand:            $1,635.84 delivered (10 or more coins)             $1,661.68 + shipping costs
                                            $1,640.84 delivered (5-9 coins)
 

Gold philharmonic:          $1,645.89 delivered (10 or more coins)            $1,671.50 + shipping costs
                                             $1,650.89 delivered (5-9 coins)
 

Gold American Eagle:     $1,665.99 delivered (10 or more coins)            $1,683.37 + shipping costs    
                                             $1,670.99 delivered (5-9 coins)
 

Canadian Maple Leaf:     $1,641.20 delivered (10 or more coins)            $1,656.90 + shipping costs
                                             $1,646.27 delivered (5-9 coins)
 

Credit Suisse
10-oz gold bar                $16,307.80 delivered                                     $16,386.16 + shipping costs
 

These prices do not include HAA's mandatory $35 membership fee which is necessary to "keep your costs…as low as possible."

This is not to criticize: these prices are only for physical delivery.  I'm sure that many of HAA's real benefits probably derive from their flexible physical storage options.  More information on that subject from anybody else would be helpful.

7

@solarphil, I appreciate all the detailed notes, but are you sure you are comparing them correctly?  The prices you indicate seem to be for 1 oz coins on HAA vs. 400 oz bars on BV.  Also, have you considered that with BV you need to pay a liquidation fee to take possession of your gold?  It's up to a 4% back end load basically – like a mutual fund in the 1980s or something. 

8

Good questions, all - I've spent much of the day in contact with the Hard Assets Alliance team to make sure we best address them.
Ed D'Agostino, the General Manager of the Hard Assets Alliance, will be logging on the site shortly to provide answers himself.

In the meantime, be cautious of the comparative conclusions drawn in some of the comments so far. There are some apples-to-oranges comparisons that don't accurately reflect the true relative values of either service. Ed will clarify.

Also, on Monday, we'll receive and post here the asked-for comparative matrix of HAA/BullionVault/GoldMoney. We're simply waiting for Compliance sign-off before we can do so.

9

Suppose there IS a reset and gold is suddenly MUCH more valuable?!
First it would present a big temptation to try to 'cash' clients out (even though they had allocated gold). This happened already with the MFGlobal collapse…and gold was just priced as it is now.

Second, while government confiscation of individual gold seems unlikely, large piles of gold in corporations would be a very tempting target for the Feds…I'll let you make up your own list of reasons they might give as to how they 'find it necessary, at this time to make this unusual claim on assets'. I got dibs on 'for the children'…but the list is long believe me.

There is no substitution for POSSESSION of your gold. A million dollars worth weighs less than 50 pounds and fits in a small safe. Unless you absolutely cannot keep your own…consider doing it.

10

[Hidden - Jason]
I started reading your site and following the course when you were posting up the chapters one at a time.  My partner and I would anxiously check in from day to day to see if the next chapter was up.

I am sad because once you get into bed with this or that product in the way you have here then the perspective you give is less valuable; your interest in gold has changed from impartial advocate to financially interested businessman.  

There are so many people out there, like Mike Malone, who I never listen to as they are always so very much down 'one road'.  You were flexible, I listened to you. I own and hold gold and silver and have since 2007, and yet I am so very close to selling some in line with the arguments of people like Nicole Foss.  I now find it harder to rely on your thoughts about such matters, as you have a financial interest in selling me the gold story.

Good luck, go well, and thank you very much for the journey you have helped me along up to this point.

Stewart 'Straight' from Brisbane.

11

I spoke to one of HAAs reps today.  They are not yet set up to handle IRAs.
Doug

12

Thanks for your reply above.
For me, Chris is a beacon of integrity, indepedence and intellectual rigour among gold advocates. I have followed his advice and improved my way of life and my family's prospects. 

Despite never having met him, I trust and like the guy.

However, we have seen all too clearly how incentives change behaviour. Is there a danger that now Chris is 'selling' gold, that his independent, honest voice might be compromised? 

I find many of the famous gold advocates genuinely creepy and intellectually dishonest. Although they may be technically right, their arguments are more like sales pitches, as they 'talk their books'.

As the world economy goes through many twists and turns, what will happen if, say, the price of gold peaks, and Chris' business interests no longer align with the site-members' interests? 

 

 

13

Also, please add a vault in the South part of Scandinavia!!
Thanks s

14

Thank you for your comments regarding the Hard Assets Alliance.  I'm Ed D'Agostino, the General Manager.  As Adam said earlier, we are working on a detailed comparison that will be available next week.  In the meantime, I'll try to highlight a few key differences.
First, GoldBullion and some of the other companies I've seen mentioned are great companies that provide excellent services.  They may be a good fit for your needs, but everyone's needs are different.  That's why we offer a different option.  BullionVault and GoldMoney both provide investors with an efficient way to own metals.  They do this by offering fractional ownership in large bars.  This is a great way to maintain very low per ounce cost of ownership. 

Our approach to precious metals ownership is different.  We believe the best we to own gold, silver, platinum, and palladium is to own the physical asset (as opposed to owning "paper" in an ETF).  Furthermore, we believe the best way to own physical metal is to own an undivided interest.  So, we offer bars and sovereign coins in a wide range of sizes.  As you are aware, the cost of producing a 1 oz coin is greater than producing a 400 oz bar.  The cost per ounce will always be higher when comparing smaller, individually owned bars or coins to fractional ownership of large bars.  The same goes for storage.  It cots more per ounce for a vault to store a wide variety of coins and bars, in various weights, than to store large bars. 

Other features of the Alliance: we offer an online trading platform that (during NYSE trading hours) bids your purchase out to a network of wholesale dealers and refiners.  The platform fills your order with the best price available at that moment.  From there, you have the option of taking delivery or placing your metals in storage at a US or international vault.  You may take delivery whenever you want, for as much or as little of your holdings as you choose, and delivery will be made to your address of record.  We do not charge a redemption fee, surcharge, recasting fee, etc.  The only fee you pay is the direct cost associated with the delivery. 

I hope I've addressed some of your concerns while remaining respectful to the companies mentioned.  Our service are unique and, in my opinion, unrivaled when you take into account the full range of services and products offered.  Our prices are available on our website, with discounts available for larger orders.  Please take a moment to compare to similar services.  I think you'll be pleased. 

Thank you for letting me post!

-Ed

15

Ed, when do you anticipate being set up to handle IRAs?

16

searesponse (and others wondering the same thing) -
I understand the concern about conflict of interest. And while the best measure for judgment will be to watch how we act in the future, I'll offer the following:

  1. There is no real 'book' to talk here. Chris has been advocating owning gold & silver, based on a core position of physical holdings (i.e. in your hands), for many years. That advice is not changed in any way by this announcement.

  2. Due to the wide spectrum of choices (vendors, forms, storage options, etc) for owning precious metals, we receive a HUGE number of requests each month from readers pleading for us to cut through the clutter and recommend the "best" one. Because we think it offers the most attractive overall package of benefits to the widest audience of customer types, we have decided to officially endorse the HAA in order to meet this request from our readership.

  3. In NO way are we discouraging folks from considering the other bullion vendors we have favorably reviewed in the past. For certain customers, it may make better sense to transact through them. We will continue to list them as options for consideration on our Where to Buy Gold & Silver page and our Guide to Buying Gold & Silver.

I hope the above helps set some minds at ease  - but as I said, the best way for us to keep your confidence in our integtrity is to continue earning it each day by our actions. We'll be doing our best to do so.

17

[quote=Adam Taggart]searesponse (and others wondering the same thing) -
I understand the concern about conflict of interest. And while the best measure for judgment will be to watch how we act in the future, I'll offer the following:

  1. There is no real 'book' to talk here. Chris has been advocating owning gold & silver, based on a core position of physical holdings (i.e. in your hands), for many years. That advice is not changed in any way by this announcement.
  2. Due to the wide spectrum of choices (vendors, forms, storage options, etc) for owning precious metals, we receive a HUGE number of requests each month from readers pleading for us to cut through the clutter and recommend the "best" one. Because we think it offers the most attractive overall package of benefits to the widest audience of customer types, we have decided to officially endorse the HAA in order to meet this request from our readership.
  3. In NO way are we discouraging folks from considering the other bullion vendors we have favorably reviewed in the past. For certain customers, it may make better sense to transact through them. We will continue to list them as options for consideration on our Where to Buy Gold & Silver page and our Guide to Buying Gold & Silver.
    I hope the above helps set some minds at ease  - but as I said, the best way for us to keep your confidence in our integtrity is to continue earning it each day by our actions. We'll be doing our best to do so.
    [/quote]
    Adam,
    Is there a financial and/or contractual relationship between CM/PP and HAA?
18

To me, this presents as an appearance of conflict of interest
& in today's world chancing that seems risky for you all (in my opinion)

You have worked hard to build up a resevoir of trust amongst your readers.  You have a legion of volunteers that believe you are 'different' than the talking heads on CNBC.

I agree with others post (above) that the question now presents itself 'will they continue to sell this if they see the market going a different direction?'

I subscribe (and I suspect so do many others) not for the deals on water purifiers, food storage & now gold/silver - No, I subscribe for unbiased advice and insight.

I emailed you all, before, when I was worried about conflict of interest.  I suspended my account for a while.  I came back for the insight but am considering stopping the subscription for good.

For me - I do not want an insight/advice service that receives commission for 'preferred vendors'.  I already feel like a tax-mule, medical-mule, etc. … I do not want to pay for the priveledge of being a subscription mule.

Based on the posts above & my own research I see no tangible benefit to this for the PP members.  

This saddens me as I fear CM/PP are going down the slippery slope.

 

19

Adam,I have the same question. Is there a financial relationship?
 

20

HAA prices (Gold- 1oz ) seem to higher than at Bullion Vault and other sites?