21: Silver Bullion CEO: Why and How to Buy Precious Metals
By Sam Marks / Johnny FD
Gregor Gregersen is the Founder and CEO of Silver Bullion in Singapore. It’s a state of the art facility that is truly innovating the category through transparency, technology and cost efficiency. If you do nothing else with this episode, checkout the video loop here of the Silver Bullion “Safe House”, you’ll be impressed. Gregor had an interesting experience during the 2008 financial crisis that led him to starting Silver Bullion that is a fascinating story in itself. On this episode we compare different ways to buy and sell gold, what types of mints and coinages are most common, the comparison of holding physical gold at home or abroad, Singapore as a safe have, and evaluate a few of the systemic risks that face the global today. We also discuss the unique and intriguing P-2-P lending platform that Silver Bullion created where loans are secured by the borrowers precious metals. No matter what your experience in purchasing precious metals has been in the past, there will be something you can take away from this episode. Relevant links for guest: Silver Bullion Recommended: Currency Wars –James Rickards Discussed (relevant links): The Safe House (video) US Gold Confiscation in the USA Show notes: 02:00 – Why did Gregor get into precious metals business 05:12 – Gold nationalization in Western Nations 05:50 – A history on the gold standard 08:10 – Systemic risks in the global economy 10:30 – Comparing the different ways to buy and sell precious metals 12:50 – What precious metals does Silver Bullion sell 13:50 – Why the name Silver Bullion 14:30 – When did Gregor buy his first piece of bullion 15:55 – Living through the financial crisis as a trader 16:30 – Starting the storage component of Silver Bullion 19:30 – Creating consumer transparency in Silver Bullion 21:00 – Different mints and coinages 23:45 – Gregor’s favorite mint to purchase 26:34 – A 1000 oz bar! 27:35 – Why Singapore as a safe place to store metals 28:37 – Singaporean politics 35:00 – Trust, confidence, and security in Singapore 35:00 – Caning in Singapore! 39:05 – At what point does it make sense to use Silver Bullion 40:45 – Quarterly audits of the inventory 41:45 – Minimum buys at Silver Bullion 42:30 – A walk through the buying process at Silver Bullion 44:50 – Overview of storage capabilities 48:00 – Fees for storage 51:40 – The liquidity in selling gold held at Silver Bullion 53:15 – P-2-P lending through Silver Bullion (Asset backed) 57:05 – Collateralizing the debt in a conservative way 58:20 – Who can lend money on the P-2-P platform 1:01:25 – Who can open accounts with Silver Bullion? 1:04:30 – Shipping the gold overseas from storage 1:03:00 – Summary of owning precious metals and systemic risks 1:03:45 – Where does Gregor invest his money 1:10:40 – See Silver Bullion for yourself! If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5 star review on iTunes and claim your bonus here! Copyright 2016. All rights reserved. Read our disclaimer here.