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Transfer Existing Precious Metals to BullionCoin

Investors can directly transfer their precious metals to BullionCoin in order to avoid transactions fees and losses through the buy & sell prices offered.

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There is no need for you to enter into a process whereby you need to sell your physical bullion into fiat, just to re-buy it again. It just makes no sense, unless you're the one wanting all that selling & buying to go through them for a nice bit of profit.

You've already paid once, so you need to keep any more costs to a minimum.

If you don't transfer directly then you have lost money on the following areas if you go the cashing route:

  1. The original purchase costs
  2. The selling cost/fee
  3. The offered selling price
  4. The cost/fee to re-buy
  5. The offered buying price

Now with the ability to move your existing holdings, you can avoid all the above costs and you won't even have to make or arrange any cash payments for the transfer process.

If you want add your precious metals to BullionCoin in time to be part of the founding investment window – Act Now! Don't miss the opportunity to receive double the yield rate being given to the founding investments as a lifetime passive income.  Contact us & create an account.

Streamlined Process Transferring Your Precious Metals BullionCoin

The process requires you do little more than to contact us to give us the details of what to collect and where from. It's one of the many advantages of using BullionCoin and needing to repurchase your physical in BCX's primary wholesale market.

Once you have given us the details we need, the following will happen:

1. We give a secure logistics company like Brinks the details you gave us, regarding the what and where

2. They will collect your precious metals from the agreed location

* Check below to see if you can skip the refining stage and add your precious metals to BullionCoin Geneva directly.

3. Your bullion will then transport it securely to a top Swiss refinery

4. The refinery will re-refine the precious metals content into the following top tier investment grade bullion products:

  • 100 gram gold bars at 9999 fineness, or 1 kilo bars if it's a large quantity
  • 1 kilo silver bars at 999 fineness

5. The refinery will deliver the newly refined bars to BullionCoin's Geneva vault

6. Upon receipt of the precious metals to BullionCoin's vault, the title of ownership to it will be automatically digitised as BullionCoins

7. The cost of the transport and refining process will be deducted, at charge, from your BullionCoin balance

8. The BullionCoins, minus the costs, will be added to your wallet for you to access

Because any transport and refining costs are deducted frdom your BullionCoin balance, it means that you don't have to arrange for or make any cash payments for this to happen.

Your ability to transfer precious metals to BullionCoin is basically a collect and deposit process (with possibly a little refining in between). Like the rest of of BullionCoin, it's safe, simple and hassle-free.

Basic Summary of the transfer process into BullionCoin

Do Your Precious Metals Need the Refining Stage?

There needs to be strict control on the guaranteed quality and authenticity BullionCoin's precious metals in order to maintain its integrity. The refining process is required where it is necessary to confirm the total precious metals content in the product items.

Therefore, only certain products will be accepted directly and not need refining. To be accepted directly, it must meet the following criteria:

Product Type

All products must have been made by an LBMA refinery or Primary Mint.

Gold bullion will need to have a minimum fineness of 9999 and silver needs a minimum of 999 purity.

Where products don't meet those specifications, depending upon what it is, it will either be swapped into appropriate sized bars by a refinery or will need to be re-refined in order to verify its metal content. The new high grade bars will then be deposited into BullionCoin's Geneva Vault.

Place of Purchase

You will need to show that you've sourced your physical from either a refinery or a prime dealer that buys from the refineries. Retail or third party dealers are not considered acceptable.

However, if you have precious metals stored with reputable companies such as GoldMoney or BullionVault, then the bars they give you to send to BullionCoin are acceptable.

But, irrelevant of where your bars came from they must all come with their certificates and proof of purchase documentation/receipts.

Method of Storage

Your bars must have been directly delivered into a secure, restricted access commercial vault, by the refinery or the dealer.

If the vaulting account is in your name (i.e. not operated by someone like GoldMoney or BullionVault), then you will need to provide evidence of continuous storage such as invoices / receipts.

For vaulted goods, BullionCoin may request that an inspection team check your holdings so a certificate can be issued. This will be in cases where the provider stores your assets on a "said to contain" basis and also where they are not responsible for the content, authenticity, fineness, value, weight, or accuracy of the identification markings of any of what you store with them.

Items kept in a safety deposit box do not count as you, and possibly others, are free to access them.

Any products not kept in a secure vault will need to go via the refinery to be re-refined so that the total metals content can be verified.

Basic Rule of Thumb

As a simple rule of thumb, BullionCoin's precious metals transfer process will only directly take into their vaults; high purity products sourced from primary suppliers that have always been maintained within an LBMA grade chain of integrity.

Whether going via the refinery or direct, you will need to do very little other than to give the authorisation for the transfer, tell us what it is and where to collect it and BullionCoin will review your request and arrange what is necessary.

Costs

After your precious metals have been received into BullionCoin's vault then its title will be automatically digitised into BullionCoins. At that point the costs associated with the transfer of your metal will be deducted from your balance..

This means that you don't need to arrange to make a payment for any of this to happen.

What You Need to Do Next

In the first instance, all types of investors both large and small will need to contact GoldVu first to discuss your holding and get the process started.

Part of the process of transferring precious metals to BullionCoin for both institutions & individuals requires you to open an account in order to allow the bullion to be added to it.

Join one or all of our Social pages to keep up-to-date with important news & events, or just to learn & ask us questions about physical or digital precious metals:

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Or, use our registered hashtags #GetBullion and #BullionCoin to join our Tweets about physical & digital precious metals on the ABX & BCX.

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Have your say about what you just read! Leave me a comment in the box below.

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. GoldVu.com also reserves the right to edit comments for grammar and spelling errors.

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