Transferring Your Existing Physical Precious Metals Into BullionCoin
Contact us so we can discuss your existing physical gold and silver holdings.
Many people already hold and store physical gold and silver. If that applies to you, then consider adding it directly into BCX and turning its title of ownership into an electronic format to then use as a currency.
Why convert it back into the fiat currency you got out of, just to re-buy it again?
If you don't transfer your precious metals into BullionCoin and instead opt to cash out and transfer that instead, you will effectively suffering 3 sets of costs:
- The original buy cost/fee
- The sale cost/fee
- The re-purchase cost/fee
Plus you will lose money on the price gap between the buy and sell prices.
However, how it has been stored will dictate how easy you can transfer it into the BCX vault. This is because Digital Gold Ltd (the company behind BullionCoin) needs to ensure that all the precious metals it vaults and backing this digital currency are 100% authentic and not tampered with in anyway. Digital Gold Ltd will not expose any of its clients to the risk of counterfeit or fraud, so they always take the very secure, conservative approach when accepting your precious metals.
Furthermore, as your metal will need to be assayed (and possibly remelted) before being accepted, these transfers will be subject to minimum amounts to be a cost effective approach.
Please contact us to discuss further.