Opened an account at Monetary Metals (gold leasing)

[hernancortes]

This is the outfit founded by Keith Weiner. The idea is you have an allocated pool bullion account that earns interest payed in gold. Current leases earn 2-4%/yr. For wealthy investors they offer gold bonds paying better. Also they have leases in silver paid in silver. Minimum gold deposit 10 oz and I think minimum for silver is 400 oz. The leases are for one year at a time.
So far so good on my end. No fees on storage, unlike a vault service. I sent them some bullion and shipping was free. You can also make a cash deposit with them and they will.purchase bullion for your account. I'm in it for what I'm prepared to lose. We'll see how it goes.

 

[pmbug]

We have a thread discussing the silver program here:

Monetary Metals 12% Silver return fund/bond

Sep 6, 2024

Any thoughts about this? Send them money and lose your ass when they go out of business?

Earn interest on silver | Monetary Metals

Monetary Metals® is a different kind of gold company. Others buy or sell gold. We are a platform for products that offer investors a yield on gold, paid in gold®. The gold yield marketplace™.

monetary-metals.com

• Viking
• Replies: 14
• Forum: Silver Bug

• 

Is the gold program structured the same way? Please do let us know about your experience with it. Thanks!

 

[Goldhedge]

Minimum gold deposit 10 oz and I think minimum for silver is 400 oz.

Gold $32,540 & Silver $12,800 at today's prices!

 

[JayDubya]

@hernancortes you have more faith in them than I do.

Seems every time I hear anything about those types of operations it's always bad.

I sincerely hope you do well with no loss of principal.

 

[hernancortes]

We have a thread discussing the silver program here:

Monetary Metals 12% Silver return fund/bond

Sep 6, 2024

Any thoughts about this? Send them money and lose your ass when they go out of business?

Earn interest on silver | Monetary Metals

Monetary Metals® is a different kind of gold company. Others buy or sell gold. We are a platform for products that offer investors a yield on gold, paid in gold®. The gold yield marketplace™.

monetary-metals.com

• Viking
• Replies: 14
• Forum: Silver Bug

• 

Is the gold program structured the same way? Please do let us know about your experience with it. Thanks!

Thanks for the link. If I'd seen that I would've posted on that thread instead of starting a new one. It looks like Ewinslow joined a bond while I joined the leasing program instead. There's more inherent risk in a bond (and better return) than a lease but according to MM all 46 of the bonds and leases they've ever offered have paid out as promised.
The monthly statements they send showing gold interest earned are nice and everything but yes, collecting physical at lease's end is where the rubber must hit the road.

 

[nickndfl]

I almost olened accounts for Kitco's pool and Vaultchain. I bought some maples instead.

 

[CopperSilverGold]

@hernancortes you have more faith in them than I do.

Seems every time I hear anything about those types of operations it's always bad.

I sincerely hope you do well with no loss of principal.

Exactly....Ponce's spirit was screaming in my ear as I read this. What could go wrong? I wouldn't even send them 1 ounce of silver if that was an option.