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Not too long ago, I received a request to do a review on Anglo Far East Bullion as a potential option for gold/silver allocated storage.  Per the request, I have done some digging and would like to report my findings. First of all, I do not and have not used the storage services of Anglo Far East Bullion.[Update see part 2 of this review]. However, based on my findings thus far they seem to be a legitimate option for gold/silver storage. I have not been able to dig up any dirt or any reason someone should avoid using them for allocated storage of their gold/silver, in fact, it is quite the opposite.

[updated 6-19-2010]

Anglo Far East Bullion seems like a good solution for those seeking extreme privacy and are looking to hold a substantial amount of silver or gold. Which can be problematic to do so safely at home, a bank, or even a relative’s place.  I would personally avoid holding any gold or silver in any bank! If you want to diversify and minimize your risk, it makes sense to spread it around at carefully chosen locations that have a history of respecting property and privacy.

Also, I would want the storage facilities to have rigorous security and 3rd party auditing. Insurance and reasonable fees are to be expected with any of the companies chosen to hold my gold or silver.  Lastly, I like to always see some sort of recommendation from at least one of the industry veterans for additional confidence before proceeding.  Anglo Far East Bullion meets all of my requirements.

“Never buy a “pool” account of unallocated silver.  Never let others hold your silver, either in allocated or unallocated form……Maybe you can invest a little bit into allocated silver; as a way to diversify the location of your physical silver.  Two companies I would trust (but do not use) are goldmoney.com and the Anglo Far East Bullion Company; they will hold silver for you in allocated form….”

-Jason Hommel src: How to Buy Silver, & Avoid Getting Scammed

Before proceeding with them you should of course do your own due diligence.  You should also understand your strategy for securing your physical gold/silver storage.  One of the things to consider is, how much precious metals do plan to buy/hold? Anglo Far East Bullion has a minimum amount to open an account of US $50,000[Update- see part 2 of this review]. Anglo Far East prefers servicing higher end customers looking to make substantial gold/silver purchases although they do have an unadvertised account minimum of US $5,000 too. [Update- see part 2 of this review for additional unadvertised accounts for as little as $50/month]If you do not fit into the higher end, don’t worry about it too much as there are other viable storage options that cater to smaller investors too. For the one I use, you can see my review here.

WHAT IS THE MINIMUM AMOUNT REQUIRED TO CREDIT MY BULLION ACCOUNT?
For bullion accounts, AFE has a minimum account guideline of $50,000 USD.

src: Anglo Far East Bullion – FAQ

You can read more about Anglo Far East in the February 2009 issue of DGC Magazine where David Morgan interviews them.

Disclosure: I am now an affiliate of Anglo Far East as I believe in what they stand for and view them as strong advocates  of the gold and silver industry. I would certainly appreciate it if you would consider using one of my links so that I can receive credit for referring you to their website. I did not get paid to write this review.

Related Posts:

• Anglo Far East Bullion Review – Part 2
• GoldMoney.com Review
• Gold vs Dollar – What a knock out!
• US Government Ready To Tax Your Gold or Precursor for Confiscation?
• Panicky Greeks Paying Over $1,700 Per Ounce For Physical Gold?