Bringing Metal Out of a Pooled Arrangement

Unallocated storage means you hold a claim against the provider for a quantity of metal, not title to specific bars. In normal conditions that distinction is invisible. It becomes the only thing that matters if the provider fails, and by then it cannot be changed.

The practical difficulty is that pooled arrangements are frequently entered into without the distinction being understood at all. The account looks like ownership, the statement shows a holding, and the difference only becomes material at the point somebody wants specific metal rather than a claim on metal.

• Allocated or unallocated — the single most important word in it.
• Segregated or commingled, which is a separate question again.
• Whether the metal may be lent, leased or used as collateral.
• Who audits it, how often, and whether you may attend.
• What happens on the provider's insolvency.

Whether your holding is allocated and segregated, whether specific bars or coins are recorded against your name, and whether you can take delivery of those specific items. Ask in writing and keep the answer.

A provider offering genuine allocated storage will answer immediately and specifically. An answer that describes the total holding rather than yours is itself the answer.

1. 01Talk through what your current agreement actually says.
2. 02Coordinate the transfer, including insured shipping.
3. 03Verify and inventory on arrival, with you present if you wish.
4. 04Serial record and photograph everything at intake.
5. 05Allocated, segregated storage from that point.

Read your existing agreement before you call anyone, including us. If it says unallocated, that is a materially different product from what most people believe they bought, and it is worth understanding before you decide whether moving is warranted.

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