OneGold

[Bimetallic]

Hi all – OneGold looks interesting. It's a vaulted silver product by APMEX and Sprott, with a very slick trading app (they also offer gold and platinum). It looks like they come close to BullionVault prices, but we'll find out how close below. It seems like a good way to make bank if you think silver spot is going to significantly increase – you don't have to eat the huge premiums on retail physical right now.

The vault is in the US, but OneGold also offers something called VaultChain stored at the Royal Canadian Mint.

So I was curious about pricing compared to BullionVault. Here's what I found.

OneGold: Their buy price is $14.95 right now. Spread is 46 cents and premium is 22 cents per ounce ("or 150bps" – I don't know what that is). Storage is 0.30% per year.

BullionVault: Buy price is $14.65 right now. Commission is 0.50% per transaction and storage is 0.48% per year.

Note that silver Ask price is $14.48 right now according to SilverPrice.org and $14.69 according to JM Bullion. (Don't get me started on all these inconsistent spot prices for silver....)

So one ounce at OneGold would cost $14.95 + 22 cents = $15.17 + storage.

One ounce at BullionVault would cost $14.65 * 1.05 = $15.38 + storage.

That's a surprise. I thought BullionVault would win for sure. One hitch I don't know is how storage is calculated by either one. Is it the purchase price of the metal? (Including premiums and commissions?) Or the current spot price – always changing? I have no idea, but it looks like OneGold wins. Let me know if I missed anything.

Edit: Security: OneGold is insured by Lloyd's of London. BullionVault has daily third-party audits that they post. Not sure what their insurance situation is, nor am I clear on OneGold's audit situation.

[HGr]

Has anyone tried it? I started using BV last week but I found the purchasing a bit fiddly. I would like to buy instantly close to spot if possible, not mess around with bids.