A refresher on our UNALLOCATED

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  • Опубліковано 25 гру 2024

КОМЕНТАРІ • 85

  • @BullionNow
    @BullionNow  3 роки тому +5

    With the recent robust debate over unallocated gold and silver programs, Michael gives you a quick refresher course on how Bullion Now's unallocated program works, how it's backed and highlights the advantages it may offer you. Learn even more about it here (bit.ly/38ylejD) and buy it at bullionnow.com.au/product-category/unallocated

    • @silverslave333
      @silverslave333 3 роки тому +4

      Do you see the new 1 kilo bar rationing at the Perth Mint ? only 10kilos allowed per household ... why restrict people if everything is fine ? Obvious there is massive demand yet spot price drops ???

    • @BullionNow
      @BullionNow  3 роки тому

      @@silverslave333 We assume restriction would be to slow sales, so they can play catch up with production. But you'd have to ask them, we're just a customer of theirs like you are.

    • @silverslave333
      @silverslave333 3 роки тому +3

      @@BullionNow Ever wonder why in this day and age why they still cant meet demand ? Such a tiny percentage of people buy silver and they cant meet their own contract obligations. Why you think the spot price falls when there is such demand ?

    • @Native_love
      @Native_love 3 роки тому

      I'm gonna buy some gold or silver from you because I like your videos! Thanks!

  • @bah667
    @bah667 3 роки тому +26

    Richard Hayes , the CEO from Perth Mint , is asking us keyboard warrior's NOT to buy Physical Silver from PM.

  • @andrewbest4608
    @andrewbest4608 3 роки тому +5

    Bullion Now is the only company l deal with, 100% integrity.
    Have been using the unalocated program for 1 year now, works well.
    Keep up the good work

  • @drumtin1717
    @drumtin1717 3 роки тому +2

    The unallocated system with Bulliom Now is helping me save up for a big fat gold bar. Thanks a bunch guys!

  • @moriorinvictus
    @moriorinvictus 3 роки тому +3

    Dearth Mint is empty?

    • @BlueMax109
      @BlueMax109 3 роки тому +3

      Incorrect! They've got so much silver they are rationing it. Because they have too much.....

    • @moriorinvictus
      @moriorinvictus 3 роки тому

      @@BlueMax109 😂

  • @BlueMax109
    @BlueMax109 3 роки тому +11

    Your paper is safe guys. We've got plenty of paper! Keep stacking that paper

    • @BullionNow
      @BullionNow  3 роки тому +3

      What part of "We don't deal in paper, only physical" did you not understand?

    • @benwilliams3539
      @benwilliams3539 3 роки тому

      Calm your emotions they're the enemy of a smart investment.

  • @couchsquad9227
    @couchsquad9227 3 роки тому +2

    How do you get around the $5000 cash limit. Asking for a friend

    • @BullionNow
      @BullionNow  3 роки тому +1

      Thats not something we can help you with sorry Wili!

    • @benwilliams3539
      @benwilliams3539 3 роки тому

      Is it a hard limit or just it needs to be declared if over 5k? Could your friend just use 5k cash in one transaction then walk back in and do it again next hour/day/week?

    • @BullionNow
      @BullionNow  3 роки тому +1

      @@benwilliams3539 You can spend as much as you want with us, but over 5k daily transaction volume, we need ID. You can't come back in an hour and spend another 5k and rinse and repeat. You CAN come in the following day and spend under 5k once before ID is required. Remember, it's under 5k per person, per day.

    • @benwilliams3539
      @benwilliams3539 3 роки тому

      @@BullionNow does it work the exact same when instead selling it and taking cash away?

    • @BullionNow
      @BullionNow  3 роки тому

      @@benwilliams3539 No, ID is required for all sell backs to us, regardless of $ amount.

  • @koalabear206
    @koalabear206 3 роки тому +3

    Is there a insurance certificate from a 3rd party that ensures the unallocated product is guaranteed for withdrawal in the case of the business going into liquidation? (not inferring that you guys are going out of business, but Perth mint has the government backing). There's always a risk regardless of the chances.
    Also do you provide audit reports from an independent auditor annually or quarterly regarding your vault inventory against liabilities?

    • @benwilliams3539
      @benwilliams3539 3 роки тому +1

      I've wondered similar about the insurance.

    • @koalabear206
      @koalabear206 3 роки тому +3

      @@benwilliams3539 One of the biggest reasons why people invest in bullion is they don't trust the system. I wouldn't be able to sleep at night if I had an large unallocated position without any sort of legal concrete guarantee.

    • @BullionNow
      @BullionNow  3 роки тому +1

      Yes, the unallocated is fully insured by a 3rd party insurer who is underwritten by Lloyds Of London.

  • @patrickmcfly3264
    @patrickmcfly3264 3 роки тому +2

    So my question is what happens in that rare situation where your online stores does not have any 1kg or 1oz available for sale? Would you have generic stock set aside for unallocated to take physical possession?
    The point is if there turns out to be a global silver shortage someday .... at continued suppressed price say under US$50, would you have actual stock in the back to allow customers to redeem the 1oz and 1kg lots?
    Or is it only backed up by 1000 oz bars in storage as last resort?

    • @BullionNow
      @BullionNow  3 роки тому +1

      The great thing about our unallocated program is that you can redeem it for anything physical we have available at the time. If we don't have 1kg or 1oz sizes (in a very RARE case)... we will have other sizes (10oz, 1/2kg, etc). We generally don't back the unallocated with giant bars for this reason... so that when people come in, we have the general smaller sizes that people want. To back unallocated, we buy the regular items that everyone normally wants.

    • @patrickmcfly3264
      @patrickmcfly3264 3 роки тому

      @@BullionNow So what's the physical availability scenario for unallocated when you have no physical listed for sale even 10oz or 1/2 kg, would you then provide unallocated owners physical that's been set aside so they can top up if buying more than their allocated or do you need to go out to the market to buy to fulfil physical allocation?

  • @wayneryan7631
    @wayneryan7631 3 роки тому +6

    The only thing I don't like is on my bullion now account it has no balance on my unallocated holdings I have to look through my purchases.

    • @BullionNow
      @BullionNow  3 роки тому +10

      We hear you! We want that feature too. We'll be working on that this year.

  • @anthonybostock4854
    @anthonybostock4854 3 роки тому +6

    I only have a few words to say about Michael and Bullion Now, they are honesty and integrity.

    • @BullionNow
      @BullionNow  3 роки тому +1

      Thanks maaaaaaate! Pay you later 😏

  • @DanPresland
    @DanPresland 3 роки тому

    so if everyone who has unallocated silver, or paper silver lets say, came in at once to your shop and requested it all in physical, you could definitely fulfil those orders with physical silver?

    • @BullionNow
      @BullionNow  3 роки тому +9

      Yes. They may not get it in the form they specifically wanted (brand, size, etc) as it depends what form we have it in on the day... but yes everyone would get their weight value of their unallocated. Make sense?

  • @robertsweet5212
    @robertsweet5212 2 місяці тому

    Can you convert between metric and imperial weights? If I have unallocated gold grams can I redeem them for a physical one ounce gold coin? Unallocated silver ounces into physical silver one kilogram bullion?

    • @BullionNow
      @BullionNow  2 місяці тому

      You absolutely can, the numbers just won't be as clean as redeeming 1 ounce for 1 ounce. If you wanted a 1 ounce gold coin, but had 31 grams of unallocated (slightly short of the full ounce) we would simply send you the invoice for the additional amount on top. Same thing for the silver :)

  • @s.a.wilson3455
    @s.a.wilson3455 3 роки тому +2

    Good video. Still confusing. If your holding the physical, is it not then Pool allocated?
    What are the real benefits for bullion dealers to offer unallocated? Is it used to provide dealers with extra cashflow?

    • @patrickmcfly3264
      @patrickmcfly3264 3 роки тому

      Exactly what I was thinking. Bullion now sounds like they are doing pool allocated, it's getting the answers from fringe scenarios that determine if it's really pool allocated. If they can confirm this, I would buy 500oz unallocated from them right now.

    • @BullionNow
      @BullionNow  3 роки тому

      @@patrickmcfly3264 Yes. It has small differences but for all intent and purposes it could be considered a pool unallocated.

  • @benwilliams3539
    @benwilliams3539 3 роки тому

    Can this all be done online through the site?

    • @BullionNow
      @BullionNow  3 роки тому

      Buying yes, selling and redeeming via phone/email/instore.

  • @petergracemeguide1280
    @petergracemeguide1280 3 роки тому +2

    I love your un allocated scheme, it works for me. When I sell a bail of hay I buy half in physical and balance of unallocated. Then when I need it I can pay for my seed or capitalise on a new release product. Works well for me

  • @firearmsstudent
    @firearmsstudent 3 роки тому

    How do you purchase and accept delivery of new COMEX bars?

    • @BullionNow
      @BullionNow  3 роки тому

      Do you mean in general or are you asking if we have the ability to supply Comex deliverable 1000oz bars for you to purchase from us?

    • @firearmsstudent
      @firearmsstudent 3 роки тому

      @@BullionNow I'm asking for two reasons:
      1. I am interested in one day buying a gold or silver contract from the COMEX and having it delivered to my house. Do you need to travel to a depository to pick it up and if so what is the process?
      2. I am also curious because before the run-up in 2019, you could get a 100 oz silver bar for a $0.40 premium. Assuming that bar is made from non-recycled silver, (We know that isn't normally the case, a refiner buys scrap for way below melt and resells it for 95% melt, but let's assume) how can the logistics/business of buying that 1000 oz bar off of the COMEX, shipping it and probably a 100 of its buddies to a refiner, remelting it into 100 oz bars and delivering those to a person's house work off of $0.40 above the spot price? The margins for each business would be insanely small.
      I think this would make a good topic for your investing series because it doesn't seem like anyone really goes over taking contract delivery.

  • @silverlover5817
    @silverlover5817 3 роки тому +1

    Thanks for the video......

  • @benwilliams3539
    @benwilliams3539 3 роки тому

    Curious about the cost per ounce when selling back gold rather than the 1 dollar silver ounce cost

    • @BullionNow
      @BullionNow  3 роки тому

      Sell back rates are:
      Spot minus $30 per gold ounce or minus $1 per gold gram
      Spot minus $30 per silver kg or minus $1 per silver ounce

  • @dproulx222
    @dproulx222 2 роки тому

    1. I live in South Korea... If I join this unallocated program (which I'd really like to do) could I sell one metal for store credit ( you would hold my cash) and then buy a different metal or do you have to rewire the money back to Korea?
    2. What are the benefits of this program for foreign buyers? What are the drawbacks as you see them.
    3. I would like to use this program because of the simplicity of using PayPal and possibly take advantage of price swings between different metals... I'm primarily interested in settling in cash. Therefore would you wire the money back to my Korean bank account or would I have to take possession of the metal after I sell back to you?
    I also sent you an email... Maybe, you could address this question during mail bag episode on Friday.

  • @briansmythe3219
    @briansmythe3219 3 роки тому +1

    Can you Keep Paying into a Unallocated account , Say with Silver Could i keep paying into it like a Bank account , Till Ive Built it up then Take the metal when its up to a Decent amount ?

    • @BullionNow
      @BullionNow  3 роки тому +3

      Yep, exactly. You have to buy in whole ounces or kilos though. You can't put for example, exactly $100 in per week. Make sense?

    • @chichfm5108
      @chichfm5108 3 роки тому +1

      pretty sure you can

    • @briansmythe3219
      @briansmythe3219 3 роки тому

      @@BullionNow Yeah shore does , I Get it I think i preaty much answered my own Question , Cheers I will have to give you guys a ring

    • @ozgal606
      @ozgal606 3 роки тому +1

      Yes I do this

    • @briansmythe3219
      @briansmythe3219 3 роки тому +1

      @@ozgal606 Cool

  • @benharvie4341
    @benharvie4341 3 роки тому +2

    I was considering this last night, to lock in the price on the dip.

  • @angelalovarco2680
    @angelalovarco2680 3 роки тому

    Thank you - timely, clarifying and reassuring. 🙏👌👍

  • @moriorinvictus
    @moriorinvictus 3 роки тому +2

    So who verifies you have the metal? No independent audit?

    • @BullionNow
      @BullionNow  3 роки тому

      Our next independant audit for unallocated is due by June 30th.

  • @manxman9630
    @manxman9630 3 роки тому

    So if --- I buy 10 ounces of silver @ $30 per Oz ($300 purchase value ) and then a week later the spot price of silver goes to $10 == Do i still have 10 ounces of silver unallocated or $100 worth of silver ? - cheers

    • @wayneryan7631
      @wayneryan7631 3 роки тому +1

      You still have 10 ounces.

    • @BullionNow
      @BullionNow  3 роки тому

      Both. You still have 10 ounces of silver. The value of it at that time would be $100. Selling back to us for cash incurs a $1 per ounce fee, so you'd get $90. Converting to physical costs you the normal premium associated with the specific product/s you want, which will vary. Hope that all makes sense.

    • @manxman9630
      @manxman9630 3 роки тому

      @@BullionNow OK - so this option protects the amount of silver i initially bought regardless of any later spot movement, converting to physical would include paying just the premium in this example for say 10 kangaroo coins and the shipping to have them delivered ? - cheers

  • @ozgal606
    @ozgal606 3 роки тому

    Thanks for that

  • @borisbuliak3626
    @borisbuliak3626 3 роки тому +5

    Michael sounds like you personally got a good unallocated program. However, have you read the SLV changed prospectus? Am sorry to say but you’re a very small fish in a big pond. JP Morgan pay $950 million fine like it’s nothing for spoofing, the squeeze is worth the juice. This are the banksters in charge of SLV it’s rather hard to disassociate from such bad press even if you’re a good guy. I say unless your homeless or live in a promiscuous house, keep your own. Keep up the good work. Btw I know your a busy man suffice to say one of the changes of the prospectus us that: the price of SLV may NOT reflect the real silver price??? Uh? How’s real silver price determined then? I’d really like to know that one

  • @whatastud1000
    @whatastud1000 3 роки тому

    Happy Easter and God bless!

  • @steveward8713
    @steveward8713 3 роки тому +1

    Michael,
    I am a happy customer - my question is “do you have an independant audit

    • @BullionNow
      @BullionNow  3 роки тому +1

      Yes. Our next independant audit for unallocated is due by June 30th.

  • @jbouma4756
    @jbouma4756 3 роки тому

    Great to actually have a choice what to convert your unallocated into, be it cast bars, minted bars or even coins. PM only allows converting into certain cast bars (if/when they are available!)

    • @BullionNow
      @BullionNow  3 роки тому

      Yep, you can literally convert to anything we sell on the website.

  • @SuperMooshrooms
    @SuperMooshrooms 3 роки тому

    Lets put something into perspective and go back 100 years. If you had gold and silver kept with 100 major banks in 1921 how many of those banks would still honour their obligation to pay you the gold and silver you had deposited with them in the year 2021?
    USA nope it would have been confiscated, South America? Nope. Japan or China? Definitely not. India? Africa? South East asia? the truth is that basically only gold and silver kept in a swiss vault would have been safe for all these years. A unallocated program is simply a fractional reserve system where if a major upwards move in the silver price occurs and masses of people demand physical delivery of metal, most people will just receive a fiat currency amount that is tied to the price of silver.

    • @BullionNow
      @BullionNow  3 роки тому

      Not all unallocated programs are created equal. Ours is not a fractional reserve system. Our program is backed 1-1 with physical. If there ever was a "run" on the store, everyone would get physical metal of some kind, if they wanted it.

    • @SuperMooshrooms
      @SuperMooshrooms 3 роки тому

      @@BullionNow If that is true then all is well. However most investors have to be taught the difference between a claim on metal and actually holding it in your personal possession.

  • @sctpc
    @sctpc 3 роки тому +1

    I have used Bullion Now's Unallocated for both Gold and Silver several $$$ and Its a fantastic Program, Not at all like Perth Mints or the old Perth Bullions Scam Programs

  • @Wilson18Tutorials
    @Wilson18Tutorials 3 роки тому +2

    I didnt know this existed. cool idea, thanks for the infos :D

  • @glennmerriman8382
    @glennmerriman8382 3 роки тому +1

    You said that you do not always have the unallocated product in stock when people purchase unallocated, and make orders or sales sometimes multiple times in a day to 'balance the books' so to speak. But that is not what consumers are lead to believe at time of purchase. On your website, in unallocated products, it lists the number of 'available' ounces or kilograms of product to purchase. That leads consumers to believe that you have the product already in stock, set aside for unallocated purchase, and that once purchased, will be taken off the 'available' list and put into the unallocated pool. This 'available' number also suggests that you would not make any more unallocated sales once this number reaches zero, and would only continue making sales once new product has arrived & is in your possession.
    You stated at 2:32 'we will never ever sell unallocated that we can't back', then straight away contradict yourself by saying 'most times the stuff we are selling we have already backed, we've already secured'. Most of the time is not 'never ever'.
    At 2:43 you say 'sometimes it's a phone call after we have done the transaction with you'. This means that you ARE selling unallocated that you cannot back. Can you not see the contradiction there. Calling a supplier to order more product after you have made a sale, is not 'backing' a product, because your suppliers might be out of stock.
    So basically you are now admitting that the website "available' numbers are deceitful, by saying you are making purchases for unallocated after the fact. This is the reason you are copping some flak, because of lies & misinformation such as this.

    • @BullionNow
      @BullionNow  3 роки тому +1

      Glenn - great questions. Let me go through them one by one.
      Our unallocated is always backed by physical. When we agree to list more on our website or take an unllocated sale we already have in stock what we need to back it (ie as a company we are already long physical silver) so if we were unable to secure more then we would use our "shop stock" to back the unallcoated. This shop stock is quite often very high premium items (coins, smaller sized bars etc) and as we are "footing the bill" for the premium of the items in the unallcoated we obviously want to change this as quickly as possible. It is always our preference to back the unallocated with low premium product therefore several times a day we secure low/lower premium items (bars usually) to "replace" the shop stock that we have temporarily used to back the unallocated order. These higher premium items are then released back to the shop for sale (This is sometimes why you will see our premium coin numbers on our website vary up or down).
      Alternatively when people "cash out" their unallocated we then either bring those lower premium items back into stock or use them against a new unallocated sale/website listing.
      So - by saying that "most times the stuff we are selling we have already backed, we've already secured" means that mostly we have the lower premium bars in stock but sometimes we don't and we need to secure them so we can release the shop stock being used to back. Also the reference to "making the phone call" is also referring to securing more low premium physical. The unallocated product is backed - just not with the items we want it to be backed with (ie low premium).
      You will somtimes see that our unallcoated disappears off the website. These occaisions are when we have not secured more product to back new unallocated sales or alternatively, the overall shop stock is getting close to a neutral position and therefore we cannot guarantee new orders will be instantly backed by physical.
      Hope this makes sense. If not - just put your questions below or give us a call (1300 84 84 10) and we'll answer them there.

    • @glennmerriman8382
      @glennmerriman8382 3 роки тому

      @@BullionNow Thanks for you reply. That makes more sense now. As you're probably aware, there is allot of mistrust in the silver market right now, mostly warranted & due to JP Morgan's illegal activities & SLV. Because of this, many people have become sceptical of all unallocated programs, and are attacking Perth mint & yourselves. I can understand the frustration & difficulty in explaining every minute detail of your business operations, but understand many consumers are also equally frustrated by the lack of transparency.

  • @moonshotsilver
    @moonshotsilver 3 роки тому

    Stop buying silver now. I want some left at the end of the year plonkers 🤫😂