BullionVault Review. 

Firstly, what exactly is BullionVault?  

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In essence, BullionVault is an online precious metals dealer specialising in gold, silver and platinum. 

In fact, BullionVault is one of the world’s largest and most popular online gold and silver dealers, boasting more than 90,000 users from over 175 countries, holding approximately $3 billion in stored bullion.

With more than 40 tonnes of gold and 900 tonnes of silver, BullionVault’s customers are already holding significantly larger reserves than most of the world’s central banks.

Launched in 2005, BullionVault has grown rapidly by providing a simple, transparent and convenient bullion service online. 

Many precious metal enthusiasts would already have heard of BullionVault due to the site’s excellent search engine optimisation and targeted advertising on various online platforms and forums. 

BullionVault allows access to the professional bullion market whereby customers can buy and store, trade and sell gold, silver and platinum in a cost effective manner.

Gold and Silver UK aims to bring readers top quality reviews and in depth content about gold and silver and the precious metals markets. 

Gold and Silver UK has been using BullionVault’s online platform for a while now and, therefore, decided to go a little bit more in-depth into the site to review the features and products BullionVault offers. 

Gold and Silver UK has focused on usability, navigation, information, price, reliability, history and more. 

BullionVault is a full member of the LBMA. 

The LBMA stands for the London Bullion Market Association, who essentially set the standard for the global wholesale market of bullion grade gold and silver. 

The LBMA’s job is to ensure the integrity and quality of certified gold bullion as well as approve, review and audit companies within the precious metals market. 

You can read more about the LBMA here.

How easy is it to use BullionVault?

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The web site itself is clear and simple to use. 

The website is packed full of lots of various information on precious metals, as well as a handy investment guide, precious metals price charts, news, how to purchase, reviews and more. 

Although the website has quite a bit of information, the site is extremely user friendly and easy to navigate. 

To open an account with BullionVault is a very easy process, it usually only takes a few minutes. 

It requires a name, e-mail address, username, and password. Account verification is via a copy of your ID and a copy of a bank statement. This is mandatory.

Once you have added your usual personal details and your account has been verified, your account can be funded by bank transfer or card payment. You can then essentially buy and sell vaulted gold and silver via the online trading screen.

BullionVault is very quick and easy for the customer to sign up and start buying vaulted gold and silver. Technically, you could actually own any quantity of physical bullion in about 2 hours of signing up and verifying your account. 

What are the benefits of using BullionVault?

The main advantage of using BullionVault is the fact that they store your gold, silver or platinum safely and securely in top tier vaults at a very reasonable price. 

Storing precious metals at home for example, could be risky and it isn’t as easy as you think. 

You need to be creative with your home storage of gold bullion and most of all, have a home safe. You could still lose all your gold due to theft. 

A safety deposit box could be another option. With a safety deposit box, it is secure to a degree. 

However, technically, a safety deposit box could be seized, or the law could change whereby your access is denied. 

With BullionVault, you don’t have to worry about potential hassle and risks related to storing gold bullion yourself, or dealing with ongoing shipping and other fees. 

The gold is 100% allocated gold . This means all the gold you purchase is in your name as your legal property. BullionVault or other entities, can never claim it.

Where does BullionVault keep the gold? 

The gold bars are stored in secure vaults in London (UK), Zurich (Switzerland), New York (USA), Toronto (Canada) or Singapore. 

The gold is certified as investment grade, and is held in a named and numbered account. These accounts are audited daily, with lists of client holdings matched off against its actual holdings. 

You can buy as little as 1 gram and there is no maximum purchase. 

Is the gold and silver insured? 

Yes. BullionVault is responsible for ensuring that the cover maintained by each vault operator is at least equivalent to the value of all the gold, silver or platinum that the vault operator holds on behalf of BullionVault clients. 

The storage and insurance is covered.

How does BullionVault keep costs low? 

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▪ You can invest in gold in 1 gram increments within LBMA approved wholesale bars

▪ You pay prices that are closer to the wholesale market price

▪ There is No VAT or Sales Tax

▪ There are No delivery costs

▪ Using professional vaults mean you pay the lowest storage & insurance costs

▪ BullionVault manages $3 billion in client property for over 90,000 users, economy of scale keeps costs low. 

You have access to your account 24hrs a day. 

As a BullionVault investor, you have access to your account 24hrs a day 365 days a year. 

This is great for active precious metal investors as well as those wanting to access their account day or night. 

Can I buy gold to be delivered to my house? 

If you are a UK resident, then you can buy physical gold coins from BullionVault that can be delivered to your home. 

They offer purchases of Gold Sovereigns, Gold Britannias, and 1oz Australian Kangaroo Gold Coins.

Bullion Vault do not offer delivery of physical Gold Coins outside of the UK. 

Although you can buy Gold Coins for delivery to your home, you have to think about where to store gold. Bullion Vault encourage customers to consider owning vaulted gold, because it’s usually cheaper, safer and easier. 

What currency can I use to buy gold and silver from BullionVault? 

You can buy gold, silver or platinum in either Euros, UK Pound Sterling, US Dollars or Yen. This is useful as it avoids the potentially costly exercise of exchanging currencies. 

What is the difference between buying gold from BullionVault or an ETF? (Exchange-traded funds)

With ETFs, you never actually own physical gold. According to their trust deeds some ETFs are not even backed by gold; they are designed to track the gold price using complex derivatives. 

At Bullion Vault it is 100% allocated gold. You own your bullion outright. It’s your legal property. 

Is BullionVault a scam? 

No. 

Galmarley Ltd T/A BullionVault is a registered Ltd company with a registered office address in the UK. 

The company address is 7th Floor, 3 Shortlands, London, England, W6 8DA. This is the headquarters for BullionVault, however, the Vaults are separate and distributed between London (UK), Zurich (Switzerland), New York (USA), Toronto (Canada) and Singapore.

BullionVault is a trustworthy company. In fact, it is one of the oldest and most trusted online bullion dealers. 

What is the BullionVault trading platform like? 

BullionVault offers traders the opportunity to buy and trade physical gold, silver, and platinum bars via a trading platform. All the bullion bars are held in professional vaulted storage facilities with highly secure systems. 

Buy and sell orders are placed from your account via a drop down link. As a trader you can select which precious metal to purchase from which market. The Live Order Board displays the current bid/ask prices. 

You can essentially become an online precious metals trader by dealing directly with other members of BullionVault.

Because you are trading directly with other buyers and sellers, this keeps brokerage fees low.

Here is a simple video on how it works:

“BullionVault allows active traders to choose to behave like a market professional by quoting prices.  This allows the true trader a negative cost per trade, through the opportunity to earn the spread.”

“To see the power of this examine the net effect of continuous quoting on BullionVault on an unmoving price with a $2.66 spread at $1300 per ounce of gold.  The quoter earns rather than pays the spread – just like a market professional. It soon outweighs the cost of commissions”

Fees. 

Full details of fees can be found on their website here.

What happens to my gold if anything were to happen to BullionVault? 

As the gold is 100% allocated, your ownership and title of your bullion would not be affected.

For example, a liquidator could not claim title to your bullion. That’s because you are the legal owner of all the metals that you buy through BullionVault.

Technically your bullion is the subject of a bailment – a legal status through which physical property remains yours while it is in the care of another. A liquidator cannot consider it an asset of the company, so would have no claim over it. 

Should BullionVault, or any of the associated operators file for bankruptcy, a liquidator would return the assets to the owner, as ownership always remains with you the client.

The BullionVault app. 

BullionVault has a great, simple, easy to use app that you can download to your device on the app store or google play. 

This is a great feature, as it allows access to your account 24hrs a day via your phone or tablet. 

You can check your balance and orders as well as browse the price charts, markets, and do your buying and selling on the go. 

You can also set price alerts so you can be notified of any fluctuations in price. This is a great feature if you are trading regularly. 

Why is the gold stored in secure vaults? 

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Allocated vaulted storage is arguably the most secure way of storing gold bars and coins. 

Having your precious metals in a private, secure vault (using an established and trusted provider such as BullionVault), offers ultimate peace of mind.

You have flexibility when it comes to accessing your gold via the 24hr online account. 

Knowing your gold is secure means you can buy more gold and silver, or sell your bullion in whatever quantity you want, whenever you want. That is not so easy when you have the physical precious metal at home. 

With allocated storage you have the flexibility to buy, sell and store your gold all in the same place. 

Remember storage costs.

There are usually monthly fees for storing your metals within secure vaults

BullionVault recommend avoiding overall investments below $2,000 (roughly 50g) because the minimum monthly storage charge ($4 for gold and $8 for silver or platinum), may make your investment inefficient below this level.

What is the customer support like? 

BullionVault actually has a great customer support service. 

This is shown by the many positive online reviews that focus on the quality and ease of the customer service. 

The fact that you can actually phone and speak to someone (within business hours) is good to know.

They also have a ‘Live Support’ online chat option which is a truly fantastic and very convenient feature, giving customers easy access to answer questions quickly and easily when needed, (again, within business hours). 

BullionVault have a frequently asked questions section on the website which is very comprehensive. 

This would usually answer the majority of questions a customer might have. 

You also have the standard e-mail, complaints procedure contact and standard address for postal correspondence. 

What are ‘Good Delivery Bars’ and why does BullionVault use them? 

If you hold or receive gold bars that are “LBMA Certified”, then these claims can only be specifically made by bullion refineries that meet a specific high standard. These stringent criteria, are put in place and regularly monitored by the LBMA. 

It produces a standard that is trusted around the world (also known as, ’Good Delivery’). 

The London Good Delivery List, was originally set up by the Bank of England in 1750 to formally recognise refiners who produce physical gold bars to this specific high standard. 

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The LBMA eventually took over and are now tasked with regulating the bullion market, setting purity and refining standards, facilitate trades, and even set rules regarding weight, safe handling and stacking.

The most competitive gold, silver and platinum prices in the world are enjoyed by the participants in the professional bullion market: large gold dealers, refineries etc.

This professional market only deals in what are known as Good Delivery bars.

Good Delivery bars are kept in vaults recognized and monitored by the local gold dealing community. 

Every time bars are moved, a careful record is maintained, showing continuous storage through trusted hands.  This guarantees gold bar integrity. 

Good Delivery bars.

Gold Good Delivery bars are usually 400 troy ounces each (12.4kg) 

Silver bars are 1,000 troy ounces (31.1kg) 

Platinum is between 32.2 to 192.9 troy ounces (1 and 6kg). 

Purity is: 

99.5% for Gold. 

99.9% for Silver.

99.95% for Platinum. 

Is BullionVault safe to use? 

BullionVault has been operating since 2005. It is a well-established and reliable online bullion exchange that has put a lot of effort into ensuring customers have the most secure systems available for storing both bullion and currency. 

It uses the very latest technology and security systems to ensure the site is secure and safe. 

Other security features. 

For a start, the physical gold is stored in highly secure vaults, so no one can easily access your precious metals. 

If someone does manage to somehow get hold of your password and account details, the worst they could do is potentially sell your precious metal. 

However, the account is only linked to your one bank account. 

You can’t simply add or change any other accounts without full verification, so any money from selling the precious metal would only be able to be directed to your own account. 

SMS Security Alert option. 

BullionVault can also send you an alert in the form of an SMS message sent to your mobile phone. It can be set to sound whenever your account is accessed, or an order placed. It will always sound when a withdrawal request is entered. They charge $0.20 per SMS for this service. 

Daily Audit. 

BullionVault is the only bullion business that publishes a daily audit online, which explicitly reconciles your physical gold, silver and platinum to formal third-party Bar Lists.

Why should I buy gold or silver anyway? 

You can read more about some the benefits of owning gold and silver in these posts: 

Gold.

Silver.

What if I want to close my BullionVault account? 

Closing an account with BullionVault is a very straightforward and simple process. 

First of all, it is FREE to close your account at any time. 

All you would need to do, is simply send an e-mail to the support team at BullionVault stating you would like to close your account. 

The team would then sell your precious metals at the current price, and any money would go back into your account. 

Price charts. 

BullionVault features its own spot price charts, so you can check the spot price easily whenever you visit the site. 

You can also set price alerts. You can be notified via e-mail when the spot price moves through a selected price range that you can set yourself. 

The Cost Calculator. 

The cost calculator is a very useful tool for any customer using the platform. This is a very transparent and clear way of working out how much you would potentially pay in fees for buying, storing and selling your precious metals. 

Simply go the calculator tab. Then choose between gold, silver or platinum, add your preferred currency then you can choose either weight or value. 

Set your storage time of say, 1 month for example, and then click the ‘what will I pay’ button. 

BullionVault then instantly works out your buy, sell and storage fees and gives you a total cost. 

This is a very transparent service and makes it easy for any customer to work out exactly how much they would be pay in overall fees. 

Who founded BullionVault and what is the backstory? 

BullionVault was founded by Paul Tustain.

Seeing a gap in the market, Paul started planning BullionVault in 2002.

The development of BullionVault, which he funded, started in late 2003, and the BullionVault service was launched in 2005, supported by investment from 30 friends, family and business angels. 

The business has grown to become the world’s biggest online investment bullion service.

Paul is now Chairman of the Board and majority shareholder. 

What are the customer reviews like? 

BullionVault has over 1600 customer reviews on Trustpilot with 83% rating excellent, 11% great and only 1% as poor. 

Overall, BullionVault reviews are positive.

The Trustpilot ratings are excellent with a star rating of 4.6 out of 5 stars. 

What are the negatives? 

As soon as you buy any gold, silver or platinum, they do have a minimum monthly storage charge – $4 for gold and $8 for silver or platinum, which is still reasonable.

However, they do recommend avoiding overall investments below $2,000.

Although the site is very easy use and has a clear, user friendly style, in Gold and Silver UK’s opinion, it could do with an update in the overall look of the site in order to bring it more up to date. 

There is currently no option to use cryptocurrencies such as Bitcoin to deposit funds, which again in Gold and Silver UK’s opinion would be slight negative for any crypto fans. 

Conclusion. 

BullionVault is one of the largest online bullion companies with many years of experience, which makes them an ideal option for private investors who want access to the professional precious metals market. 

With years of experience you can’t go far wrong buying bullion from BullionVault.  

It is one of the most user friendly and reliable online bullion services out there, offering a simple interface and making it easy to buy, store and trade gold and silver.

If you want to convert some of your currency savings into a more physical asset such as precious metals, then buying physical vaulted gold and silver with BullionVault could be the perfect option for you.

Gold and Silver UK also like their free app, which is very user friendly, and the ‘price alerts’ feature is very useful. Their customer reviews speak for themselves. 

BullionVault also has a more personal customer service than some of the other online bullion competitors. The online chat function in particular is a fantastic feature. 

Overall, you can tell this is a company that is passionate about precious metals, and this comes across in the more personal customer experience. 

What do I need to do to register? 

Simply click here and claim your FREE Silver. 

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New subscribers receive 4 grams of vaulted Silver absolutely FREE!

Disclaimer:

Gold and Silver UK is an account holder and affiliate of BullionVault, which may provide us a commission at no extra cost to you. The articles or blog posts on this website are for general information/opinion purposes only and does not constitute either goldandsilveruk.co.uk or the author(s) providing you with legal, financial, tax, investment, or accounting advice. You should not act or rely on any information contained in the articles without first seeking independent professional advice. Care has been taken to ensure that the information in the articles are reliable; however, goldandsilveruk.co.uk does not represent that it is accurate, complete, up-to-date and/or to be taken as an indication of future results and it should not be relied upon as such.

The website goldandsilveruk.co.uk will not be held responsible for any claim, loss, damage, or inconvenience caused as a result of any information or opinion contained in these articles or blog posts and any action taken as a result of the opinions and information contained in these articles or blog posts is at your own risk. All rights reserved www.goldandsilveruk.co.uk 

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BullionVault UK review
  • BullionVault Review
4.5

BullionVault Review

BullionVault is one of the world’s largest and most popular online gold and silver dealers, boasting more than 90,000 users from over 175 countries, holding approximately $3 billion in stored bullion.

It is a well-established and reliable online bullion exchange that has put a lot of effort into ensuring customers have the most secure systems available for storing both bullion and currency. 

Launched in 2005, BullionVault has grown rapidly by providing a simple, transparent and convenient bullion service online.

BullionVault allows access to the professional bullion market whereby customers can buy and store, trade and sell gold, silver and platinum in a cost effective manner.

As a BullionVault investor, you have access to your account 24hrs a day 365 days a year. This is great for active precious metal investors as well as those wanting to access their account day or night. 

Pros

It is one of the most user friendly and reliable online bullion services out there, offering a simple interface and making it easy to buy, store and trade gold and silver.

Overall, you can tell this is a company that is passionate about precious metals, and this comes across in the more personal customer experience.

BullionVault also has a more personal customer service than some of the other online bullion competitors. The online chat function in particular is a fantastic feature. 

Gold and Silver UK also like their free app, which is very user friendly, and the ‘price alerts’ feature is very useful. Their customer reviews speak for themselves.

 

 

Cons

Although the site is very easy use and has a clear, user friendly style, in Gold and Silver UK’s opinion, it could do with an update in the overall look of the site in order to bring it more up to date.

There is currently no option to use cryptocurrencies such as Bitcoin to deposit funds, which again in Gold and Silver UK’s opinion would be slight negative for any crypto fans.

Gold and Silver UK
goldandsilveruk is a precious metals enthusiast who wants to give authentic, clear, simple, transparent information and opinion to readers.