Why You Should Store Your Precious Metals in New Zealand
BullionStar, which is one of the world’s premier precious metals dealers, allows our customers to purchase and store precious metals in multiple countries - the United States, Singapore, and New Zealand - for maximum geographic and jurisdictional diversification.
There are many reasons why New Zealand ranks as one of the world’s best jurisdictions for bullion vault storage. New Zealand has strong property rights, a strong rule of law, political stability, high levels of personal and financial freedom, low crime, and is one of the top three most business-friendly countries in the world.
We store our customers’ bullion in an extremely secure vault that was originally built and used by Bank of New Zealand. The vault is built from 600 mm-thick high-density concrete and exceeds Class III standards. We utilize all of the industry-leading security and surveillance measures, including surveillance cameras, motion detectors, and seismic detection.
You’re in Control
BullionStar’s revolutionary vault storage service lets you buy, sell, and store precious metals bullion in multiple countries while giving you full, 24/7 online control from your BullionStar account.
We insure all customer bullion against all risks at full replacement value. View our evidence of insurance certificate here. We offer 5 different audit methods to verify the existence and correctness of your stored precious metals.
- You maintain direct legal ownership of your precious metals.
- All bullion in our vaults is allocated & segregated.
- Opening a BullionStar account is simple & quick.
- Our bullion ordering process is seamless: just add your preferred bullion products to the shopping cart and choose “Vault Storage” upon checking out.
- You can physically withdraw your bullion at your convenience either via shipping or in-person pickup. Please contact us to set up an appointment for in-person pickup.
- Customer bullion is insured against all risks at full replacement value.
- We offer 5 different types of audits, including in-person customer audits, 3rd party audits, and Live Audit Report.
- Customers can conduct in-person audits of their holdings in our vaults. Please contact us to set up your audit appointment.
- Each customer has a vault certificate as proof of legal ownership of their bullion.
- Pictures of your bullion are taken and uploaded to your account.
- We carefully guard the confidentiality of our customers and their bullion holdings.
- Our customers’ bullion is stored in a treasury-grade vault that exceeds Class III standards and uses state of the art security and surveillance measures.
- Our storage costs are some of the lowest in the industry.
- Manage and analyze your precious metals portfolio online.
- You can value your bullion portfolio based on buy price, sell price, and spot price, in addition to different currencies.
- Access your latest vault certificate which verifies your legal ownership of your precious metals that are stored in the vaults.
- View pictures of your precious metals.
- Use funds in your BullionStar account for additional purchases or withdrawal at your convenience.
- View the Live Audit Report to verify the presence of your bullion in BullionStar’s vaults.
- View the audit protocols by our LBMA-approved third party auditor, Bureau Veritas.
- Review your transaction history online.
- Insurance coverage is provided by Marsh, a world-renowned insurance broking and risk management firm, and underwritten by various syndicates at Lloyd’s of London.
- Our insurance policy covers all precious metals, bullion, cash, and other property held in BullionStar’s name or entrusted to BullionStar.
Bullion Savings Program (BSP)
- The Bullion Savings Program allows customers to purchase gold, silver, and platinum one gram at a time. Each gram is fully backed by physical precious metals.
- BSP grams of gold, silver, and platinum have some of the lowest price premiums & spreads in the industry, which helps our customers to save money.
- Bullion Savings Program grams are a great vehicle for people who are looking to trade precious metals without having to deal with the logistics of physical delivery and self-storage.
- BSP grams can be sold back to BullionStar at your convenience.
- Once minimum holding thresholds are met, BSP participants may choose to convert their gold, silver, and platinum grams into gold, silver, or platinum bullion bars from LBMA refiners at no additional cost.
- BullionStar publishes a daily report of the physical gold, silver, and platinum that back each of the three BSP programs.
- BSP grams can be purchased here.
- Our vault exceeds Class III standards and is constructed from 600 mm-thick high-density concrete using a full tang and monolithic design.
- A highly-trained security team guards the vault at all times.
- The vault is under constant surveillance with multi-redundant security systems such as surveillance cameras, motion detectors, and seismic detectors.
- BullionStar’s NZ vault is managed by New Zealand Vault. The vault is privately owned and independently run outside of the banking system.
- Though highly unlikely to be used, BullionStar and our customers are fully insured against all risks including fidelity and mysterious disappearance.
- Customer bullion is fully allocated and segregated.
- When we store your bullion, we take pictures of your bullion and their serial numbers and upload them to your BullionStar account.
- Your bullion pictures help you to identify your bullion and verify that the serial numbers in the uploaded pictures match the serial numbers on your invoice and in the Live Audit Report.
- We monitor the handling of all precious metals under high-resolution video surveillance and require two administration officers to sign off.
- Bullion owned by BullionStar is segregated from all customer-owned bullion.
- All bullion is regularly audited internally in addition to annual audits by our LMBA-approved third party auditor, Bureau Veritas.
- Vault customers can view their proof of ownership certificates within their online BullionStar accounts.
1. Customer Audits
- Customers can conduct in-person audits of their bullion holdings in the vault located at the Aon Centre at 1 Willis Street, Wellington 6011. Please contact us to set up your audit appointment.
- To conduct an in-person audit, please bring identification that matches the name on your BullionStar account. We charge USD 99 for each in-person audit.
2. Third Party Audits
- Our LBMA-approved 3rd part auditor, Bureau Veritas, conducts annual audits of all customer-owned bullion.
- Bureau Veritas verifies the physical existence of all customer-owned precious metals, matches the serial numbers of randomly selected bullion bars to verify whether they match the serial numbers listed in the Live Audit Report, and verifies the weights of randomly selected bullion bars to ensure their legitimacy.
- Bureau Veritas audit reports can be downloaded here.
3. Live Audit Report
- Our Live Audit Report lets you verify the existence of your precious metals within an anonymous list of all customer-owned bullion. Customer bullion lists can be viewed by product type and vault account number.
- Live Audit Report data is sourced from BullionStar’s vault inventory system and updates when bullion is deposited or withdrawn from the vault.
4. Internal Audits
- BullionStar regularly audits all bullion stored within our vaults to make sure that they are properly organized, segregated, and documented.
- BullionStar’s internal bullion audits fulfill an important commitment to our insurance underwriter, Marsh.
5. Financial Audits
- BullionStar is a fully audited company.
- BullionStar is subject to yearly auditing by a licensed Singaporean auditor in compliance with Singaporean law.
- BullionStar's auditor performs a physical stock inventory as part of the auditing process.
- Audit results are included in BullionStar’s annual report.
- Our pictures include your bullion’s serial numbers so that you can match them against the serial numbers included on your invoice and in the Live Audit Report.
- After the pictures are taken and uploaded to your account, BullionStar will send you an e-mail and text message to confirm that your pictures are available for viewing.
- Customers can view their bullion pictures here.
Vault Storage Fees
- U.S. vault storage is completely FREE of charge for the first year.
- Gold bullion: 0.59% per year
- Silver & platinum bullion: 0.88% per year
- Gold BSP grams: 0.09% per year
- Silver & platinum BSP grams: 0.19% per year
- We charge a daily minimum storage fee of SGD 0.19 for each storage jurisdiction. The minimum fee only applies if the calculated daily fee is below SGD 0.19 per day. Customer accounts that don’t hold any bullion in New Zealand or only hold the free BSP Grams that are awarded when new accounts are opened do not have to pay the minimum fee.
- It’s free to convert or withdraw BSP gold, silver, and platinum grams.
- Vault withdrawal of bullion products (excluding BSP grams) costs SGD 129 each time.
- In-person auditing of bullion held in the vault costs SGD 199 each time.
- If storage fees are paid late, we charge SGD 49 for each reminder plus monthly interest of 2%.
- Storage fees are calculated each day based on the metal’s spot price at 11:01am CST.
- Storage charges are invoiced on March 1st of each year or when you sell or withdraw your bullion — whichever happens first. We calculate the storage charge each day. For example, if you store SGD 30,000 worth of gold bullion in New Zealand, we will charge you SGD 0.32 each day (SGD 30,000*0.0039/365). Visit the Storage Charges section of your BullionStar account to view your accrued storage charges.
FAQs – Storing Precious Metals in New Zealand
Q: How do I buy gold and silver from BullionStar and store it in New Zealand?
A: It’s very easy: choose the precious metals products that you want on our website, add them to your shopping cart, and checkout. During the checkout process, choose “Vault Storage New Zealand” as your delivery method. Once your payment clears, you will receive an e-mail and text message to confirm your payment.
We pride ourselves on our speedy processing of customer orders, which typically take just 1-3 business days after payment has cleared.
Next, we place your bullion into vault storage, take pictures of your bullion, and send a confirmation e-mail and text message once the process is completed. You can manage all of your vault holdings online through your BullionStar account.
Q: Can I buy precious metals from BullionStar in New Zealand and have them shipped to me in another country?
A: Absolutely! Simply choose the precious metals products that you want on our website, add them to your shopping cart, and checkout. During the checkout process, choose "Shipping by Courier from New Zealand" as your delivery method. Once your payment clears, you will receive an e-mail and text message to confirm your payment. We will send you a tracking number when your items are shipped. Click here to learn more about shipping from New Zealand.
Q: Can I buy, sell, and store precious metals from the same BullionStar account?
A: Yes, you only need a single BullionStar account to buy, sell, and store bullion across all of our vault locations. Your BullionStar account gives you full online control of all your bullion at all times and you are free to buy, sell, or withdraw your holdings at your convenience.
From your BullionStar account, you can also view the uploaded pictures of your bullion, view your latest vault certificate, analyze your bullion portfolio, audit your precious metals, and view third-party audit protocols.
Q: If I store my precious metals in BullionStar’s New Zealand vault, are they insured?
A: They certainly are! Our comprehensive insurance policy covers all bullion for all risks in New Zealand. Learn more about our insurance coverage here.
Q: How do I sell or withdraw bullion that I’ve stored with BullionStar?
A: Your BullionStar account allows you to control all of your bullion in all locations and lets you sell back to us or physically withdraw at any time. When you withdraw your bullion, you can choose to have it shipped to you or arrange to pick it up personally at our vault in Wellington, New Zealand.
Q: Does BullionStar insure vault withdrawal shipments?
A: Yes, we fully insure all outbound precious metals shipments. In addition, we bear the risk of your shipment until you have picked up your parcel(s).
Q: What does it cost to store my precious metals in BullionStar’s New Zealand vault?
A: For gold bullion products, we charge 0.59% per year. For silver and platinum bullion products, we charge 0.88% per year. There is a minimum daily storage fee of SGD 0.19 for each storage location that applies in case the calculated daily fee is less than SGD 0.19.
Customers are exempted from the minimum fee if they don’t hold any bullion in a particular location. We charge SGD 129 each time bullion is physically withdrawn from our vault. We also charge SGD 199 for in-person customer audits of their bullion stored within our vaults. We invoice storage charges on March 1 of every year or when you sell or withdraw your precious metals - whichever occurs first. We calculate storage charges each day and add up the costs for all days of the storage year to determine the total storage cost. You can view your accrued storage charges via your BullionStar account in the “Storage Charges” section.
Q: How do I pay for my storage fees?
A: Storage fees can be paid via bank transfer, debit or credit card, or cryptocurrency.
Q: If I sell my precious metals that are stored with BullionStar in New Zealand, can the proceeds be credited to my BullionStar cash account?
A: Unfortunately not. For legal reasons, cash proceeds from bullion sales can only be credited to your account for vault sell orders in Singapore.
Q: Can my storage fees be paid for with cash that is held in my BullionStar account?
A: No. For legal reasons, your BullionStar account can only be used for transactions in Singapore.
Q: How can I learn more about the process of buying & storing precious metals with BullionStar in New Zealand?
A: Please review our help texts here. The process of buying, selling, and withdrawing bullion in New Zealand works in a very similar manner to the way it works in Singapore and can all be handled from the same BullionStar account. If you have any further questions or comments, feel free to contact us here.
Q: Where is BullionStar’s New Zealand vault located?
A: All physical transactions and storage of bullion is handled by our partner, New Zealand Vault in Wellington, which is located in Basement Level 2 in the Aon Centre at 1 Willis Street, Wellington 6011, New Zealand. See the map below.
Basement Level 2
1 Willis Street
Monday - Friday: 8 am - 4 pm