01. Title
Which legal entity holds your contract? Is your claim to identified metal, a pool, an issuer or a fund?
THE OWNERSHIP GUIDE
Understand what sits
behind the holding.
A practical guide to the differences between possession, custody and financial exposure.
THREE ROUTES, DIFFERENT RIGHTS
| Route | What to establish | Costs to investigate | Exit questions |
|---|---|---|---|
| Physical delivery | Product authenticity, title on settlement, delivery and responsibility for safekeeping. | Retail premium, delivery, insurance, storage and local taxes. | Who will buy it back, at what spread, and with what testing requirements? |
| Allocated vault custody | The exact contractual title, custody records, verification and treatment on insolvency. | Dealing fees, minimum custody fees, insurance, withdrawal and transfer costs. | Can you sell, transfer or withdraw? What sizes, limits and charges apply? |
| Fund or other financial exposure | The security or contractual claim being purchased and the issuer's obligations. | Management fees, dealing costs, spreads and currency exposure. | Market liquidity, redemption eligibility and settlement terms vary by product. |
Educational comparison. Specific legal rights, tax treatment and investor protections depend on the product, contract and jurisdiction.
BEFORE YOU COMMIT
Six questions to take with you.
02. Verification
What ownership records, bar lists, independent inspections and financial reports can you inspect?
03. Storage
Where is the metal? Who operates the vault? What insurance limits, exclusions and responsibilities apply?
04. Price
What reference is used, when is it fixed, and how are the premium, spread and transaction charges stated?
05. Access
How are account access, settlement, physical withdrawal and transfers handled? What minimums apply?
06. Exit
What will selling or withdrawal cost? What happens if a provider, custodian or payment route is unavailable?
Read the primary terms.
Provider descriptions can explain a business model, but the operative agreement determines your rights. For examples of ownership and verification disclosures, explore the official resources below.
TURN QUESTIONS INTO ASSUMPTIONS
Make the costs visible.
Use the planner to compare two sets of charges. Enter your own prices and fee schedules; the results are calculations, without a recommendation.
Open the cost planner