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Here are a list of Frequently Asked Questions. If you have any further questions, please contact us.
GBI, LLC, a New York limited liability company, has been formed to provide the wealth management industry with a means to directly buy, store and sell precious metals on behalf of their Retail Clients.
GBI is not a broker dealer and does not engage in any derivative, hedging or trading activities. GBI does not employ leverage in its business model and all trades are executed immediately in cash.
GBI has a very experienced senior management team and an illustrious Advisory Board. GBI’s senior management team, with over 120 years of experience in the precious metal, financial services and wealth management sectors, brings a wealth of expertise in product development, technology, operations and client service.
GBI’s Advisory Board consists of Eric Schwartz, the former co-CEO of Goldman Sachs Global Equities and Investment Management Divisions, Arthur Levitt, the former Chairman of the Securities & Exchange Comission (SEC), Sallie Krawcheck, the former President of Global Wealth & Investment Management for Bank of America, John Hathaway, Senior Managing Director of Tocqueville Asset Management L.P., Edward Mathias, Managing Director and Partner of The Carlyle Group, General Wesley Clark, a former four star General of the U.S. Army and former NATO Supreme Allied Commander and Dan Tapiero, a global macro investor and a co-founder of AgCoa, the first US farmland REIT.
Please refer to Our Team for more details.
No, but we’d be happy to direct you to one of our vendors that utilizes our operations/technology platform.Call us at 877-424-9507 for questions and to get started now!
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New York, NY 10017
GBI has a network of physical precious metals dealers, bullion banks and refiners to purchase and sell precious metals on behalf of its customers. GBI bids orders out to this market of dealers in order to ensure that clients receive best execution. Access to such a large number of dealers assures the best available price for GBI’s customers.
Currently, precious metals are stored on behalf of clients in protected and insured vaults in New York, London, Zurich, Singapore and Australia. In the future, GBI may choose to offer other storage locations based on feasibility, security and customer preferences.
All precious metal transportation and storage is fully insured by our vaulting partners through Lloyd’s of London.
Precious metal holdings are audited on a daily basis by our approved vaulting partners. An audit report containing bar lists is sent to GBI by the vaulting partners.
In addition, an internationally recognized auditing firm audits all of the precious metal holdings on a quarterly basis.
Each broker-dealer will confirm precious metal bar holdings with GBI on an aggregate basis and report individual holdings at the customer level through their existing platform.
GBI only purchases recognized branded precious metals that meet stringent refining standards (in excess of 99.99%)
Yes, you may request delivery of your precious metal holdings. All shipping and handling costs associated with the delivery are borne by the retail customer.
There are significant risks involved with taking delivery of precious metal. Once the precious metal leaves the approved chain of custody, it loses its authenticity. Risks of delivery include, but are not limited to, loss of value, inability to sell it at market value, re-assay charges and loss of insurance.
1 troy oz, 1 Kilo (~32.15 troy oz), and for certain broker-dealers 400 troy oz bars
Prices for each type of bar fluctuate during trading hours. You must contact GBI or your broker-dealer to get current market values for each bar type. Typically, market values of each bar trade at a slight premium to the spot price of precious metal.
GBI stores and secures precious metals on an “allocated whole bar” basis whereby the precious metals are held in the vault specifically on behalf of each broker-dealer client. Each bar is specifically owned by only one client.
GBI will work with various dealers to ensure customers receive the best execution price. Partnerships with a number of leading London Bullion Market Association approved dealers helps assure best execution price.
GBI can setup various types of relationships based on the broker-dealer’s preference. GBI can set it up such that brokers will be responsible for tracking precious metals holdings of their Retail Clients providing reports to Retail Clients and placing orders with GBI on behalf of Retail Clients (GBI will not know the identity of the retail client). Additionally, GBI can work on a full disclosure basis where retail client data is passed on to GBI.
Brokers will be required to certify to GBI that all anti-money laundering, “know your customer” and other requirements have been satisfied with respect to each Retail Client.
GBI will use commercially reasonable efforts to settle orders within 2 business days following trade execution. If GBI is unable to purchase or sell precious metal bars totaling the exact order amount, the Broker will only be required to pay (in the case of a purchase) or will only receive (in the case of a sale) the amount due or received in connection with the executed transaction.
Where purchase or sale orders are placed and GBI cannot match precious metal bars from a Precious Metal Supplier or the Retail Client, as applicable, exactly to the dollar amount, GBI will use its reasonable discretion to execute the transaction as close as possible to the dollar amount.
Physical precious metal is a unique asset that it bears no credit or counterparty risk, is highly liquid, and has the legacy as a monetary commodity.
Key advantages of buying physical bullion versus an ETF:
For detailed information on the advantages of precious metals and our services, please contact us.