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Tuesday, June 30, 2009

Buying Philharmoniker Gold Bullion Offshore in Austrian Banks

Austria has a long-standing gold tradition and still mints a variety of coins that are legal tender in Austria at face value; among the most popular is the .9999 Vienna Philharmonic coin, which is minted in 1 ounce, ½ ounce, ¼ ounce, and 1/10 ounce denominations. These are available at any bank in Austria and are generally available at a fairly low premium even though demand has recently skyrocketed; sales were up 544% in the first two months of 2009.Buying the coins is a simple process that requires no documentation or identification, and once the purchase is complete, Vienna has a variety of secure storage facilities; one of the oldest and most advanced is Das Safe, well located on Auerspergstrasse near many major banks and a coin shop.

Founded in 1983, Das Safe offers named as well as anonymous safe deposit boxes, with roughly 1,000 total safes under its roof. The facility is high-tech and a bit reminiscent of the Swiss Bank scene from The Bourne Identity, replete with polite, well-dressed, tough-looking security agents in the lobby of the building. Security cameras are present, but the footage is only for immediate surveillance purposes and is never recorded.

We rate the security at Das Safe to be satisfactory. The building itself is almost castle-like, one of the older structures in Vienna's first district, located at the intersection of two fairly busy roads... the façade suggests that it may be a museum of some kind, and you could walk by it three or four times before noticing the non-descript sign "Das Safe" over the singular entrance.

For customer ease and privacy, there is an adjacent underground parking structure to the rear of the building. Entering Das Safe, you will find a spacious foyer and several desks for managers of the facility, similar to how banks have loan officers scattered throughout the floor of their main branches. Around a corner is a security booth, though a verbal exchange is not necessary. You are armed with your box number/password combination, and this is all that is required to gain entry.

Entering the correct sequence will open the bullet-proof glass doors. Once inside, the doors behind you securely close before the next set of doors opens - Das Safe's override to lock up would-be thieves. Within a few seconds, the next set of doors opens, leading you down a corridor to the safe room.

Annual fees range from 480 euro to over 3,500 for anonymous boxes, though the smallest box can fit over 4,000 one-ounce Philharmonics.

[expert=Peter_Macfarlane]

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