- Who are Loomis International ?
- Can you prove my bullion is in the vault ?
- Is my bullion insured ?
- Is Loomis International associated with BullionVault ?
- Does Loomis International itself warrant bullion bar quality ?
- How does the bullion get to the vault after I buy ?
- Is my bullion held in a trust ?
- Why is my bullion not stored in a bank ?
The New York (USA) vault is run on our behalf by Loomis International, one of the world's largest operators of professional bullion vaults. Only our vault operator's staff ever handle BullionVault bullion.
A section of Loomis International's New York vault is reserved exclusively for BullionVault customers. Your gold is there.
The New York vault operates under the jurisdiction of the state of New York, USA.
The New York (USA) vault stores both 100 troy oz (~ 3.1 kg) and 1 kg bars. They have a minimum assayed purity of 99.5%. Your gold balance on BullionVault consists of the 100% pure content of those bars, which is calculated by multiplying each bar's gross weight by its measured purity.
These bars are the good delivery form for NYMEX/Comex [Comex] futures, although Loomis International is not itself a Comex depository. The main liquidity in gold markets in the USA is in Comex futures, not in physical bullion, so it is important for our vaults to be able to take and make delivery in the form acceptable to Comex.
Even though gold trading in the USA is substantially oriented toward futures BullionVault gold is always physical.
The US is a favoured location for storage by some US citizens because it comes under the jurisdiction of domestic US law, which they are frequently most confident with.
The enormous military strength of the USA makes it particularly safe from the risk of invasion - which could be considered a risk in some locations and some circumstances. The right to sell abroad and immediately buy back home, as well as a right to arrange shipment, means you retain the ability to get gold back to the USA with as much speed and as little complication as can reasonably be planned for.
Our vault operator keeps customers' gold completely separate from other companies' bullion, as usual, in our own separate section of the vault.
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