Super-rich rush to buy 'Italian Job' style gold bars

UK Telegraph ^ | September 28, 2014 | John Ficenec

[C19fan]

The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts. The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost. "These gold bars are usually stored in the vaults of central banks and are the same ones you see in the film 'The Italian Job'," added David Cousins, bullion executive from London based ATS Bullion.

[Praxeologue]

This article was published as a scare tactic, yesterday, on the day of the Scottish referendum.

Note that it was written on the level of he average voter, not an investor. For example, the references to "The Italian Job" and narrowing down Scottish investors.

You don't need to deal with a central bank, or even with a bank. 400 Troy Ounce London Good Delivery gold bars can be stored in non-bank warehouses in London, Zurich or Singapore. You need a broker, assayer,insurer and storage warehouse. ViaMat, for example, can carry out all four functions.