Amsterdam Safe Review
What Amsterdam Safe offers to gold investors
Amsterdam Safe provides investors with storage of gold and silver in its vault at the Schiphol Airport in Amsterdam. Customers have to purchase gold through one of the precious metals dealers of the Precious Metals Center Amsterdam – such as The Silver Mountain – and during the order process they have to opt to store their holdings with Amsterdam Safe. Investors have outright ownership of their gold or silver holdings and can visit or withdraw their holdings. The members of the Precious Metals Center Amsterdam guarantee to buy back any precious metals purchased from them.
About Amsterdam Safe
|Headquarters||Amsterdam, The Netherlands|
|Number of clients||ca. 2,000|
Amsterdam Safe started in 2011 to offer storage of gold and silver to investors. Amsterdam Safe only offers custody of precious metals but no trading, i.e. purchasing or selling of gold or silver. Investors can purchase gold or silver through the partner The Silver Mountain and opt for storage of their precious metals by Amsterdam Safe.
The Silver Mountain and Amsterdam Gold are subsidiaries of the stock listed holding company Value8 NV. Both companies, The Silver Mountain and Amsterdam Safe, are located at the Schiphol Airport Amsterdam.
Customers can purchase gold and silver bars or coins through The Silver Mountain and have them stored by Amsterdam Safe, starting from a minimum amount of EUR 10,000.-.
|Precious metals||Gold, silver|
|Minimum investment||EUR 5,000.-|
|Delivery of gold||Optional, by courier; fees may apply|
|Vault locations||Amsterdam (the Netherlands)|
|Currencies||Clients of The Silver Mountain can trade in Euros|
|Additional features||Clients can also store existing precious metals holdings with Amsterdam Safe|
The gold and silver of Amsterdam Safe’s customers is stored in Amsterdam Safe’s vault at Schiphol Airport Amsterdam. The security of the vault is managed by the international security services company Securitas but there is no independent storage by another party than Amsterdam Safe.
Investors have outright ownership of their precious metals holdings. The holdings are insured against typical risks.
Audit is conducted five times per year by an accountant. The reports can only be accessed by clients of Amsterdam Safe, not by the public. Clients receive quarterly and annual statements of their holdings.
Customers are entitled to access and inspect their stored precious metals at Amsterdam Safe by appointment.
The terms of conditions of Amsterdam Safe do not guarantee a buy back of purchased precious metals, although the members of the Precious Metals Center Amsterdam, e.g. The Silver Mountain, state that they guarantee to buy back precious metals purchased from them.
The Silver Mountain/ Amsterdam Gold have a license from the Dutch Authority for the Financial Markets (AFM) for the provision of gold an silver as a physical investment.
The Silver Mountain does not guarantee specific delivery times and states that delivery can take several weeks.
Rating – Trustable Gold Safety Criteria
|Outright Ownership of 100% Gold||Insured, independent storage||Transparent, external audit||Price transparency||Liquidity||Regulation||Trusted Provider Seal|
|Clients of Amsterdam Safe own their gold, it is their legal property||The gold is insured; there is no independent storage, but the gold is stored in Amsterdam Safe’s own vault||Several audits per year by independent auditors; the reports are not published but only available to clients||Yes, see below||Clients have to trade through (associated) bullion dealers like The Silver Mountain; delivery can take several weeks||Amsterdam Safe is independent of banks; The Silver Mountain holds a license from the AFM (Dutch Authority for the Financial Markets)|
Premium/mark-up for buying and selling gold (The Silver Mountain)
- 5 grams gold bar: 9.88%
- 10 grams: 6.96%
- 20 grams: 3.96%
- 50 grams: 2.93%
- 100 grams: 2.13%
- 250 grams: 1.64%
- 500 grams: 1.33%
- 1 kg: 1.17%
Transaction fee delivery to/ withdrawal from Amsterdam Safe
- EUR 35 per entrance
- EUR 35 per removal
Costs for storage and insurance of gold
- 0.75% of the value annually
Applicable transportation costs in case of delivery to the vault will be quoted by the bullion dealer. Clients have to bear transportation costs in case of delivery.
Last update: 07.01.2016
In order to buy gold or silver with Amsterdam Safe/ The Silver Mountain, investors have to perform the following steps:
1. Place your order with The Silver Mountain.
2. Fill in your details and confirm your identity by uploading or posting your ID.
3. Select the transport option “Storage”.
4. Select the preferred method of payment.
5. If you select secure storage by Amsterdam Safe you will receive a message by post from Amsterdam Safe.
6. Within two working days of receipt of your precious metals in the Amsterdam Safe repository you will receive confirmation of storage by post, together with Amsterdam Safe’s General Terms and Conditions and fiscal information about investments in precious metals.
7. Each quarter you will receive a quarterly statement of your precious metal holdings in the repository, and also an annual statement of your precious metal holdings in storage with Amsterdam Safe.