Bullion Audit Procedures & Policies

BullionStar’s Bullion Audit Procedures & Policies

In order to maximize the safety and integrity of our customers’ precious metals that are stored in our vaults as well as our own company inventory, we utilize no fewer than five different audit methods.

1) Live Audit Report 

BullionStar’s Live Audit Report lets customers monitor, audit, and verify their precious metals holdings that are stored in our ultra-secure vaults in all of our storage locations. Our Live Audit Report lists every piece of customer-owned bullion that is stored in our vaults and organizes that bullion by product category and vault account number.

The Live Audit Report is an anonymous version of BullionStar's internal reconciliation system that doesn’t disclose customer details. We welcome our customers to locate their vault account number in the Live Audit Report for the purpose of verifying their bullion holdings.

Our Live Audit Report is very reliable and is updated in real time whenever precious metals items are stored or withdrawn from our vaults. Due to its high reliability, BullionStar uses the Live Audit Report for internal audits and the report is also utilized by our LBMA-approved third-party auditing firm Bureau Veritas when it performs audits of customer-owned precious metals that are stored in our vaults.

2) Third-Party Audits

BullionStar conducts bi-yearly third-party audits of all customer-owned precious metals that are stored in our vaults. Our third-party auditing firm is Bureau Veritas, which is highly respected in the industry and is approved by the London Bullion Market Association (LBMA).

Our third-party audits entail:

• Verifying the physical existence of all customer-owned bullion items that are stored in BullionStar’s vaults.
• Checking the serial numbers of random bullion bars to see if they match the serial numbers listed in the Live Audit Report.
• Verifying the weights of random bullion bars to see if they match expected weights for those particular bars.

Click here to view Bureau Veritas’s audit protocols.

3) Customer Audits

BullionStar is so unique in our commitment to transparency that we allow and encourage our customers to conduct their own in-person audits of their precious metals that are stored in our vaults. Please contact us to schedule your in-person bullion audit. We charge a minor fee for in-person customer audits.

4) Internal Handling & Auditing

BullionStar has very stringent policies and procedures for handling customer bullion.

Before we place customer bullion in our vault(s), two vault officers verify and sign off to confirm that the proper items have been designated for vault storage. All handling of customer bullion — whether for shipping or for vault storage — is performed under the watchful eye of a high-resolution camera.

Before placing your bullion products into our vault for storage, we take photos of those products and upload them to your online BullionStar account. We make sure that the serial numbers of your bullion bars can be seen in the photos that we take so that you can view and identity each of your products.

BullionStar frequently conducts internal enumeration audits that utilize a blind count feature within BullionStar's in-house enumeration module. These internal audits entail having the vault officer conduct a hands-on count of the stock inventory without having access to the quantities recorded in the enumeration module. All internal enumeration audits are saved in the enumeration module. Any discrepancies discovered will show in the enumeration report and BullionStar management will be alerted.

5) Financial Audit & Stock Inventory Audits

BullionStar is a fully audited company in compliance with the prevailing laws of the respective jurisdictions in which we operate. In our annual reports, we publish the findings of our internal bullion inventory audits.

Our goal is to provide the most trustworthy, secure, straightforward, and economical precious metals storage service possible. BullionStar’s five audit methods help to ensure that your hard-earned precious metals holdings are extremely safe under our watch.

For Additional Information:

Direct Legal Ownership of Bullion in BullionStar’s Vaults

How We Allocate Bullion in Our Vaults

BullionStar’s Vault Insurance Procedures & Policies

How to Buy & Store Bullion in BullionStar’s Vaults

Storing Precious Metals in BullionStar’s Vaults