Sprott Money Canadian Storage Program
Sprott Money Canadian Storage Now Available!
Fully Insured
Allocated and Segregated
Canadian, Private and Non-Bank
Competitive Storage Fees
General
What is the Sprott Money Canadian Storage Program?
How is Sprott Money different from all the other companies that provide bullion storage?
Why should I store in Canada?
What is ‘segregated’ storage?
What does ‘allocated’ storage mean?
Will my precious metals be stored at a bank?
Where are your facilities located?
Can I store my precious metals in multiple facilities?
How do I apply for a storage account?
What is the process to set up a storage account?
What information do I need to provide to set up an account?
What are your storage costs?
What are Basis Points?
Is there a minimum to store with Sprott Money?
I bought from Sprott Money before. Can I transfer my existing bullion into storage?
I did not buy my bullion from Sprott Money. Can I still store with Sprott Money?
What happens to my precious metals if Sprott Money goes bankrupt?
What happens if the storage facility goes bankrupt?
Billing and Payment
What forms of payment do you accept?
How am I billed for storage?
When am I billed for storage?
How will I receive my account statements?
Does SM provide me with the reports of my stored holdings?
Do you charge taxes on storage fees?
Security
How do I know my bullion is really in the vault?
Can I come to the vault and perform a self-audit?
Are the contents of the vaults secured and insured?
Will my bullion ever be stored along with other customers’ bullion?
Delivery and Transfer
How long does it take to have my bullion sent to storage from the time of purchase?
Can I store my bullion now and take delivery later?
Can I transfer my holdings from one Sprott Money vault to another?
I want to sell back my precious metals. How can I do so?
I no longer wish to store with Sprott Money, how do I recover my precious metals?
How do I take delivery of my precious metals from your storage facility?
How much does shipping to my address cost?
Can you ship to my PO Box?
How are large orders shipped?
General
What is the Sprott Money Canadian Storage Program?
The Sprott Money Canadian Storage program allows you to purchase precious metals from Sprott Money and have them stored in our secured storage facility in Canada. Existing Sprott Money clients can also transfer their purchased precious metals to our storage facility.
How is Sprott Money different from all the other companies that provide bullion storage?
- Your precious metals will be fully insured by Brink’s and Sprott Money. In the event of a loss, theft and/or physical damage to your products, you will be fully compensated.
- Your precious metals will be allocated to your account and physically segregated from precious metals owned by Sprott Money and its clients.
- Our storage facility is located in Canada, one of the safest and most politically stable countries in the world.
- We store with Brink’s, a private and non-bank storage facility that is renowned for its integrity, security and efficiency. Your precious metals will be safe under the protection of Brink’s world-class technology and infrastructure.
- We offer one of the lowest costs for silver storage in the industry.
- Sprott Money is a recognized and trusted name in the precious metals industry.
| Segregated Vault Storage | |||
| Allocated Vault Storage | |||
| Self-Audits Permitted | |||
| Accredited – Better Business Bureau |
As one of the most prosperous countries in the world, Canada is considered one of the safest places to store bullion due to its economic and political stability. By storing with Sprott Money’s Canadian storage program, we can guarantee that your metals are stored securely and privately with little risk.
‘Segregated storage’ means that your precious metals are stored separately from others in individual boxes assigned to each client.
What does ‘allocated’ storage mean?
‘Allocated storage’ means that your precious metals are recorded under your name and you hold direct ownership of the metals. Sprott Money and our storage facility do not hold any claim on your precious metals.
Will my precious metals be stored at a bank?
No. Your metals will be stored with Brink’s Canada, a non-bank facility and one of the most trusted storage facilities in the world.
Where are your facilities located?
Sprott Money has a storage facility in in Toronto, Ontario, Canada and in Wilmington, Delaware, USA.
Can I store my precious metals in multiple facilities?
Yes. You are welcome to store with both our storage facilities in the US and in Canada. You will receive two invoices each month with a detailed account of your precious metals from each storage facility.
How do I apply for a storage account?
You can speak to a Sprott Money representative for more information on opening a storage account toll-free at 1-888-861-0775. There is a minimum requirement of $15,000, in inventory value, of any combination of precious metals to open a storage account with us.
You can also add our Canadian Storage Program as a product when placing an order with us. Upon receiving your order, a Sprott Money representative will contact and provide you with further instructions.
What is the process to set up a storage account?
If you would like to set up a Canadian storage account, please call us at 1-888-861-0775 to speak to a representative. A minimum order of $15,000 is required to open a storage account.
Once your order has been placed, you will be sent an application form and a storage agreement. When you have completed the application form, you can submit it to our team via email at sales@sprottmoney.com or fax it to us at (416) 861-9855.
When your application is received and approved by our team, we will transfer your products to your assigned storage account at Brink’s.
The application approval process can take up to 72 hours.
What information do I need to provide to set up an account?
Sprott Money complies fully with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and our reporting obligations with the Financial Transactions Reports Analysis Centre of Canada (FINTRAC).
As part of the Know Your Client (KYC) program, we require our clients to provide contact details as well as two pieces of identification or submit to a bank reference check to verify your identity. Businesses that wish to store with us must complete additional forms and provide copies of entity-formation documents.
| Inventory Value | Standard Rate |
|---|---|
| $15,000 – $100,000 | 65 Basis Points* |
| $100,001 – $500,000 | 55 Basis Points |
| $500,001 – $1,000,000 | 50 Basis Points |
| $1,000,001 + | 45 Basis Points |
The yearly minimum storage fee is $200 + HST. The minimum monthly fee is $16.67 + HST. This means that by the above calculation, if the storage fee amounts to less than $16.67 + HST in any month, you will still be charged $16.67 + HST in that month.
Basis Points are an annual percentage rate. For example, 100 basis points = 1.00% of the account per year. Thus, 50 basis points = .50% (or ½%) of the account value per year.
Is there a minimum to store with Sprott Money?
Yes. The minimum requirement to store is $15,000, in inventory value, for any combination of gold, silver, and platinum, purchased from Sprott Money.
I bought from Sprott Money before. Can I transfer my existing bullion into storage?
At this time, Sprott Money will transfer existing bullion of Canadian clients to our storage facility. Please contact a representative toll-free at 1-888-861-0775 to arrange your transfer.
I did not buy my bullion from Sprott Money. Can I still store with Sprott Money?
Unfortunately, Sprott Money is only accepting bullion that has been purchased through us to maintain the chain of integrity.
What happens to my precious metals if Sprott Money goes bankrupt?
In the unlikely event that Sprott Money files for bankruptcy, your precious metals will be safe and secure. Sprott Money acts as a storage provider for your precious metals and does not hold any claim on your assets. Your precious metals will not be affected and you will be able to withdraw them from your storage account.
What happens if the storage facility goes bankrupt?
Your storage account will be segregated and allocated to your name. Brink’s acts as a storage provider and does not hold any claim on your assets. Should our storage facility file for bankruptcy, you have the option of either having your precious metals returned to you or have it transferred to another secure storage facility.
Billing & Payment
What forms of payment do you accept?
Sprott Money will accept all major credit cards as a form of payment for storage.
You will be billed on a monthly basis by using your pre-authorized credit card.
You will be billed the first of every month.
How will I receive my account statements?
You will receive your electronic statement via e-mail on a monthly basis, unless a paper copy is requested.
Does SM provide me with the reports of my stored holdings?
Yes. You will be provided with a monthly report of all your holdings with Sprott Money along with the fees and charges owed for the month electronically via email.
Do you charge taxes on storage fees?
Yes. While all investment-grade bullion is tax-exempt, applicable taxes will be charged on storage fees.
Security
How do I know my bullion is really in the vault?
Sprott Money will provide quarterly and annual reports to our clients, free of charge. Sprott Money’s Financial Controller will conduct a quarterly audit and an annual audit will be conducted by an independent, third party auditor.
Can I come to the vault and perform a self-audit?
Yes. Annual self-audits are welcomed, which can be conducted by the client and a Sprott Money associate. There is a minimum charge of $1000 for 4 hours. Additional time is subject to $500/hour.
You must provide Sprott Money with at least (30) days’ written notice to arrange an appointment at our storage facilities.
Are the contents of the vaults secured and insured?
Yes. All our clients’ bullion is safely secured, allocated, and insured. Your storage fees are insurance inclusive.
Will my bullion ever be stored along with other customers’ bullion?
No. Sprott Money ensures that your bullion will be fully segregated and allocated.
Delivery & Transfer
How long does it take to have my bullion sent to storage from the time of purchase?
Your bullion will be shipped to our storage facility within 48 hours upon signing the storage agreement.
Can I store my bullion now and take delivery later?
Yes. You are welcome to store now and take delivery after a minimum term of 1 year. There will be an administration fee of $75 plus the cost of shipping and insurance.
Can I transfer my holdings from one Sprott Money vault to another?
Yes. You are welcome to transfer your holdings from one account to another or from one Sprott Money facility to another at no cost. You will need to submit a transfer request form 5 business days before the transfer.
I want to sell back my precious metals. How can I do so?
If you would like to sell back your metals to Sprott Money, please contact one of our representatives toll-free at 1-888-861-0775. Once the sale has been confirmed, an invoice will be sent to you and the metals will be taken out of your account. Your payment will be mailed to you within the next 48 hours.
Please visit http://www.sprottmoney.com/sell-to-us for our current buy back rates.
I no longer wish to store with Sprott Money, how do I recover my precious metals?
You will have to provide Sprott Money with a 30 business days notification along with a completed withdrawal form after a minimum of 1 year of storing with us. Once we have received your form, Sprott Money will arrange a transfer of your metals from your account to your provided address. There will be a $75 administrative fee plus the cost of shipping and insurance.
How do I take delivery of my precious metals from your storage facility?
You may have Sprott Money arrange for delivery of your precious metals through Canada Post, FedEx or other commercial couriers, or by armored carrier to a destination you designate.
How much does shipping to my address cost?
Shipping via courier service will cost an administrative fee of $75 plus shipping and insurance (0.75% of the dollar value of silver and 0.4% of the dollar value of gold/platinum at the date the request was submitted). If shipping is being completed by an armoured courier, costs are subject to vary based on the size of the shipment and location.
Yes. Your precious metals can be shipped to a P.O Box via Canada Post or USPS (this depends on the size of the shipment). If you would like to arrange an alternative form of shipment, please contact a representative at 1-888-861-0775.
Large orders will be shipped through an armoured courier, arranged by Sprott Money. Please consult a representative at 1-888-861-0775 for more information about high-value orders.
Please call us toll-free at 1-888-861-0775 regarding any storage questions that you may have or fill out the form below
