The buying and selling of gemstones is harder than one would think. This is another market which is very hard to penetrate. We are not going to go into detail about the buying and selling of gemstones, but would like to relay how difficult it is to use gemstone product for a private banking program.
The most important part of using gemstones for a private banking program is the stones have to be of bank specification. What does that mean? The stones have to be cut and polished, each stone has to be certified by a gemologist, and the stones have to have documentation from a Top World Bank. Gemstones in a non-bank vault do not qualify because the majority of the stones are uncut, or in laymen terms, they are not cut and polished.
What is the likelihood you will have gemstones from Top World Bank? Very slim. Anyone can take the stones and have them stored in a bank vault for security, but to have the Top World Bank issue a SKR, (Safe Keeping Receipt) is a different task. Why, the bank will not issue any documentation, including a SKR, if the stones are not “high” quality. Lastly, the stones being cut and polished, having bank specification quality, and issued documentation including a Safe Keeping Receipt has to total fifty million US dollars.
Any vault, like the Sarasota Vault, non-bank vault, or the like are stones which will have to be transferred to a top world bank, cut and polished, and receive bank specified quality which will cost a sum of money.