Refractory Metals News - Banking with Metals

Banking with Metals

By Allen M. Alper

Among the guests at New York’s Hard Assets Investment Conference is EverBank, one financial institution with a different take on metals.

It’s rare to find a bank at a metals conference, but at the New York Hard Assets Investment Conference, we came across Kristin Kuchem, the Assistant Vice President with EverBank, and we discovered a very interesting connection between this unique institution and the world of metals.

A Stronger Connection

Metals like gold and silver look amazing in today’s turbulent market. Entering the world of metals like these, though, often takes a commitment that is deeper than the one necessary to enter other markets. This full service bank has been helping clients in that same position since 2000. A full service internet bank serving both domestic and foreign clients, investors can get in on some pretty unique products with an initial investment of just five grand.

“You don’t typically associate a bank with metals,” said Kuchem, “but we have three products that are perfect for metals and clients . . .We have a product called a certificate of deposit that is backed by equal weighting of gold, silver, and platinum, so you would invest in a five year CD, and you get the upside of the potentials of those markets, but the nice advantage for this product is that no matter what happens in the next five years, your principle is protected, so worst case scenario, you get your investment back.”

At a minimum deposit of $1,500, this is an amazing chance for investors. If the market increases during the life of your CD, you get an upside payment worth half of your first deposit as well as the actual principal you deposited.

This, however, is not the only option they offer for those interested in the world of metals. EverBank also offers a chance for you to add the right investment to your IRA. If you wish, you can hold gold American Eagle coins or Silver American Eagle coins to your IRA account. With an initial deposit of $7,500, it’s the best way to hedge your retirement against inflation.

Pooled, or unallocated, silver and gold metals accounts are also available through EverBank. This allows you the opportunity to buy into the physical form of metals without actually taking possession. For an investment of just $5,000, you get an amazing account. The ideal way to diversify, there are no annual or storage fees with this type of account, and you get monthly statements just as you would with any other investment account.

A Bank without the Baggage

Many investors are still a bit shaky coming out of the recent economic downturn, and even here, EverBank provides some real advantages over other choices.
“We’re a privately held bank, and we’re very strong,” said Kuchem. “Right now, we’re experiencing the best numbers ever. We have $9.1 billion in assets.”

Completely uninvolved in the subprime mortgage mess that ruined so many banks, they offer the full line of services most do. In essence, they’re a traditional bank without the strings of traditionalism. From auto loans to mortgages, EverBank offers great products with a twist. Innovations in metals accounts and even some foreign currency products make them a bit different from many others in the world of banking.

Even their newest offering is unique. Soon, EverBank will announce a chance for its clients to purchase a market-safe product backed by a Deutsche Bank Index.

The best part about this distinctive opportunity? You can apply online. Because EverBank is an internet bank, getting the products you need without leaving your laptop is never a problem. It’s one bank that may make you rethink how to diversify and enter the metals market right away.


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