Buy it and hold it in your hands. A friend of mine bought gold and silver from a company that offered to store it in their vault and not charge him. They told him he can get it shipped whenever he wants. During the last banking panic he called the company and asked for his PMs. Guess what? They told him it will be about a month, since they are out of PMs due to the huge number of orders. He was super pissed and threaten to sue them if they did not get his PMs shipped by the end of the day. They told him read the fine print in his agreement with them. He got his PMs about 3 weeks later and learned a valuable lesson. If you do not hold them in your hands you really do not own them.
Some really big names in investment banking (like UBS and Morgan-Stanley) got sued for taking silver storage fees for decades for silver they’d long ago apparently disposed of.
I know of one client who’d threatened for over 3 months to get their 50,000 ounces back and when it finally started showing up in 1,000 ounce bars they were all different, not all same as when originally purchased, looked like they’d scrounged the market desperately trying to settle up.
Panic Early, Beat the Rush!
- Shane