Our Business Processes
At MGS Bullion Investment & Storage LLC, we want to provide you with a way to purchase physical bullion that is low cost, yet highly secure. Here, you can view our entire transaction process for all the information you need to start buying bullion online. If you have any questions or concerns, please contact us and we will gladly assist you.
A client account is required for all transactions with MGS Bullion Investment & Storage. Visit our client portal to apply for an account, or to login and manage an account you already have. When creating a new account, please allow up to 2 days for approval. After the account is approved, clients can fund their account via check, wire, or ACH transfer. All payments to MGS Bullion Investment & Storage are deducted from the balance in your client account as USD. When you sell any of the bullion you have stored with us, MGS Bullion Investment & Storage will add the funds to your client account. Refer to the account Settlement section below for further details.
For existing MGS clients
MGS Bullion Investment & Storage LLC is a distinct business from Manhattan Gold & Silver and requires a separate account. Existing MGS clients must go through registration process on the MGS Bullion Investment & Storage website to create a new account for their MGS-registered business, or any new entities they wish to register for trading or storing precious metals through MGS Bullion Investment & Storage.
1. Client selects products to purchase by specifying metal type, form factor, amount, and whether to use our bullion storage services or direct delivery.
2. Best execution price is obtained from a dealer network (approx. 12 dealers) of precious metal vendors via competitive bidding process based on 24-hour day trading of precious metals in real time. Trading is executed on the same platform and competitive dealer network that is utilized by large multi-billion dollar hedge funds, asset managers, pension funds, global investment banks and government entities.
3. Cash is wired to the dealer to pay for the cost of the client’s order.
4. MGS-approved vaulting partner transports the bullion from the dealer’s vault to the client’s allocated space in our bullion storage facilities, or delivered to the address specified by client.
Record-keeping for Stored Bullion
• Third-party non-bank commercial vaulting partners verify precious metals stored in our client-allocated storage facilities for authenticity.
• Account books and records are fully audited on an annual basis. Audit personnel will enter the vaults for a full audit review. Account positions and balances are reconciled on a daily basis, with 1-to-1 reconciliation between client statement and the contents of storage vault.
• MGS provides the client with monthly statements of account value and holdings via email.
Trades of precious metals may take up to 2 business days for the funds to settle. Funds will be deposited in client account once received via settlement process. Once settlement is complete for a sale of precious metals, the client may use the funds to purchase other precious metals. Clients can request a withdrawal of the cash as USD or CCY. MGS will issue the client an IRS 1099 form listing the gross proceeds from all sales of precious metals. Certain min sale limits apply, to be included in the gross proceeds.
MGS Bullion Investment & Storage offers ability to deduct small amounts of USD or CCY ($100 USD min) from your account at any schedule specified. Gold and silver can be incrementally purchased in small amounts, then converted into a physical 1 oz gold bar or 100 oz silver bar for storage or direct delivery. This provides effective dollar cost averaging feature to accumulate more precious metals over time.