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Investing in gold, silver, platinum, and palladium can be a strategic move to diversify and safeguard your wealth. Precious metals often become particularly attractive during times of economic uncertainty and market volatility.
For thousands of years, gold has maintained its reputation as a stable and valuable investment. Unlike stocks, which can plummet to zero without warning, precious metals offer a reliable store of value.
If you're considering precious metals for your investment portfolio, it's crucial to evaluate and compare different dealers. The quality and reliability of these dealers can vary significantly, so thorough research is essential before making any purchases.
To assist you in making an informed decision, we present this comprehensive review of Blue Vault, a reputable precious metals dealer and storage facility based in California.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Blue Vault passed our strict customer service standards to become one of our top recommendations.
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What Is Blue Vault?
Blue Vault is a multi-function precious metals dealer and secured depository that also offers gold and silver IRAs by partnering with two IRA administrators.
This company sells a variety of investment-quality gold and silver products and provides segregated, secured storage at its two locations. The company was founded in 2012 in San Diego, California, and opened a second location in Orange County in 2017.
Investors who choose Blue Vault can purchase and store their precious metals at the same location instead of having their gold and silver bullion transported to a different IRA-approved depository off-site. Investors are allowed to visit and inspect their assets held in storage to ensure they are there.
What Precious Metal Products Does Blue Vault Offer?
Blue Vault offers gold and silver products, but it does not sell platinum or palladium items.
The gold products offered by Blue Vault include the following:
The silver products offered by Blue Vault include the following:
Does Blue Vault Offer a Precious Metals IRA?
Blue Vault offers gold and silver IRAs to investors. These IRAs are through Forge Trust, one of the largest IRA administrators in the industry. Blue Vault's depository is also IRA-approved, insured, and recommended by Forge Trust.
You can alternatively choose a different IRA administrator and have your investments stored on-site in Blue Vault's storage facility. All precious metals IRAs are self-directed, which means the administrator won't execute buys or sells for you.
You can choose to establish a traditional IRA, Roth IRA, SIMPLE IRA, or SEP IRA and fund it with your purchases from Blue Vault or with gold and silver IRA-eligible products you have purchased from another dealer and then shipped to Blue Vault's depository.
To open an IRA through Blue Vault, take the following steps:
What Are the Storage Options?
All storage at Blue Vault is segregated, helping to keep your investments from being intermingled with those of others. Investors can choose from a range of storage options at monthly storage fees based on size.
All safety deposit boxes have depths of 24 inches and heights and widths as follows:
If you rent a safety deposit box or vault, you'll be given a private key to access and inspect your investments in person.
The company allows payment of the monthly fees by credit card, check, or cash. Larger vault sizes can be ordered. The units are housed in a steel and hardened concrete bunker that is guarded by Siemens 24 hours per day.
All safety deposit boxes and vaults are insured to $5,000 with no deductibles. Insurance coverage can be increased to millions of dollars at affordable rates. The insurance is provided by A X A.
You can also have your gold and silver investments shipped directly to Blue Vault for secured, segregated vault storage.
Can People Sell to Blue Vault?
The company buys gold and silver bullion and bars only. It does not purchase scrap or jewelry. If you want to sell to Blue Vault, you will have to visit one of the company's two locations in person. There is no minimum transaction size.
Blue Vault states that it always purchases the products it sells, and it has a gold and silver scanner to check the purity of gold and silver bullion that people offer to sell. When Blue Vault purchases gold or silver from a seller, it pays by bank wire, checks, or cash.
You can call Blue Vault for a price quote before visiting the facility. Quotes given by phone are provided based on the company's assumption the items are in the company's minimum required physical condition or better.
If your gold or silver bullion is not in the same condition that the company assumed, you won't receive the quote for your bullion. The company reserves the right to re-quote or refuse to purchase a product that is not in good physical condition.
Pricing and Fees
Unlike some other dealers, Blue Vault states that it does not charge fees. It also states that it will beat live, advertised prices from dealers located anywhere in the country.
Blue Vault states that prices may vary between the company's two locations, so it advises people to make sure to choose the appropriate option on its website.
Pricing differences are based on availability. Prices of individual products are displayed on the website, along with information about whether an item is in stock, currently unavailable, or whether you can place an order if the item is currently out of stock.
Payments Accepted
Blue Vault does not accept credit or debit card payments. When people want to purchase items in person, they can pay with cash or check. Any cash payments of $10,000 or more require the filing of IRS Form 8300.
Photo identification might also be required. If you pay by check, you'll pay the cash price, and you can pick up your products in 10 days.
The purchase price will be locked in at the time you buy, and the company will not change it even if the prices increase during the interim. You must provide proper photo identification if you pay by check.
If you want to purchase gold or silver remotely, you can pay by wire. Blue Vault will give you a $25 credit if your purchase totals $25,000 or more, and Form 8300 is not required. However, you will need to submit proper photo identification when you place your order.
Under California law, you won't have to pay sales tax if your purchase is $1,500 or more. The company offers a discount for active military service members.
How to Buy From Blue Vault
To purchase gold or silver from Blue Vault, you can go to either of the company's locations in person or pay remotely for your items. If you want to purchase products remotely, you'll need to open a depository account with Blue Vault.
Our Rating
Pros & Cons of Blue Vault
Pros:
Cons:
Final Thoughts
Blue Vault provides a way for investors to purchase gold and silver and store it on-site without having to have it transported to a distant depository. Since the company only offers investment-grade gold and silver bullion coins and bars, investors can feel confident that the items they purchase meet the IRS's purity standards for IRAs.
While the company appears to have a sound business model, investors should keep in mind that it is a relative newcomer in the industry when they are trying to decide whether to choose Blue Vault or a different dealer.
Remember to read out list of the Top Gold Companies to see if Blue Vault made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
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At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
