Need to SKR a Gold Reserve Note

Need to SKR a Gold Reserve Note

Posted in the Banking Forum

Phil

Miami, FL

#1 Apr 11, 2011
I have a Gold Reserve Note that I need SKRd prior to submitting to a Trading Platform-can someone explain the most efficient way to SKR this note & what does the letters S-K-R stand for?
jstork

Petaluma, CA

#3 Apr 11, 2011
Phil,

This response is not meant to be negative or construed to be a criticism of you personally... I am only sharing because the meaning of an "SKR" is very basic, it stands for "Safe Keeping Receipt". It allows a banking institution to proscribe value, aka validate a holding. Phil... even if you could get a qualified SKR on your GR Note (likely very difficult but not impossible) you would still need a funder to be able to convert to cash and participate in a trading platform because... the bank is not going to provide funding for your SKR.

Please be careful, I just do not want you to be led astray via some "joker broker" looking for an opportunity to scam you.
BS Spotter

Yucaipa, CA

#4 Apr 11, 2011
jstork: You are 100% correct.

Phil, I am just going to add a little bit more information to what the other poster stated above.

SKR = Safekeeping Receipt or also known in the banking sector as "depository receipt".

A bank will never ever issue a depository receipt with the value you hope to obtain from the bank, because the bank will not commit to such value. In order for any bank to commit to a value on any asset, it requires a ton of research and banks will not provide that service 'pro bono'(free). You will have to pay for (a) deposit box at the bank.(b) enlist the service of a research firm recognized and accepted by the bank.(c) pay for forensic research...etc.

There are firms in the USA who make a living at providing what you seek. But, like I said, they are not expensive and hard on anyone's pockets.

By the way, who issued the gold reserve note?
Sentinel

Scottsdale, AZ

#5 Apr 12, 2011
Phil,
Whoever issued the GNR should be made aware that you are seeking an SKR. It's likely they can help you instead of looking for help on a public forum.
As I understand it these are valuable items and should not be flashed around.

Not to be too critical but how is it you don't know what an SKR is for a Trade Program? Are you out of your league?
BS Spotter

Yucaipa, CA

#6 Apr 12, 2011
Sentinel has brought a very important point to this topic.

If the issuer of the Gold Reserve Note (GRN) the same issuing entity should have offered a way to secure the note and avoid the note being lost or copied by a professional counterfit service. But, since we are in the dark as to the issuer of the GRN and inside information details, we can only wonder and wonder.
Sentinel

Scottsdale, AZ

#7 Apr 12, 2011
Thanks Spotter.

Part of my concern is that my mining operation issues GRNs as a way to secure funding for future gold deliveries. We're very careful to keep them secure and we have security features in the Note and matching paperwork to avoid fraud.

I checked around and thankfully this is not one of ours. Phil should refrain from this kind of forum and keep the GRN and it's Issuer's information to himself.
habibi

Jakarta, Indonesia

#14 Jan 11, 2012
can SKR ISSUED BY PERSONAL OR A COMPANY
Jstork

Windsor, CA

#15 Jan 12, 2012
The context of the above conversation was concerning a normal SKR proscription via a banking institution. Banks issue SKR's and in some cases a bonded warehouse may do so as well. Send me an email and explain what it is you are trying to do?

Email: "jstork88 AT Yahoo DOT com"
Yankee63

Quincy, IL

#16 Oct 30, 2013
I'm new....What is the true definition of SKR ? Thanks for your help.....Sincerely, Yankee63

Since: Nov 12

Location hidden

#17 Nov 1, 2013
Yankee, contrary to what others may tell you a Safekeeping Receipt is NOT a "banking instrument" per se, meaning that anyone CAN issue a receipt for an item of some value deposited with them.... For example if you leave a briefcase with a Hotel's front desk, they will issue you with a safe keeping receipt.....meaning that they will deposit your briefcase into their safe and hold it for you....this does NOT infer any value to the briefcase.

However there is a wider definition in the financial arena which is generally accepted : "Safe Keeping Receipt or SKR, or Safekeeping, is where an asset owner elects to place that asset in the care of an Agent, which can a Bank or a Financial Institution, or else a known and renowned depository for the type of assets involved, and receives an acknowledgement from the institution as to their “Safekeeping” of that asset. The asset owner may elect to have such an acknowledgement sent to a third party. A fee may be required for these services."

Definition of Safe Keeping Receipt: the storage of assets or other items of value in a protected area.

SO. By themself an SKR is a simple ackowledgment of the deposit of something which the asset owner deems to have a value.

If there are supporting independent valuations, appraisals and other confirmations of the value of the asset so deposited, some financial institutions MAY accept that the "SKR" represents assets which have a genuine and indeperndently assesed value....

This does NOT mean the financial institution WILL accept the SKR and other documents as evidence of the value of the asset, but it can be the first step on a long and winding road to borrow funds or arrange credit lines against such valuable assets.......

Good Luck to all!!

Since: Jul 11

Location hidden

#18 Nov 1, 2013
I believe BS spotter and St-John are the only two with knowledge of what a SKR is and how it can and not be used.

My input is this:

If the SKR was issued by someone whose reputation is requestioned, the SKR is worthless.

The asset behind the SKR is what holds the value. Not the receipt (like St-John correctly stated).

Jokers posting offers to be able to monetize SKRs are confused. There are some institutions who will issue a SKR with value. But, it takes a knowledgeable team to be able to make the numbers add-up to pluses and not the minuses most of us come across in real life.

If my "algo-traders" won't accept a SKR to trade, then, don't waste your time.

I got to run. Time to relax and enjoy the weekend.
A Justday

Dunkirk, NY

#19 Nov 1, 2013
Nothing but nonsense: What Gold Reserve Note???

David Fraud Cheever is having fun again for pissing in the wind!!!

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Banking Discussions

Title Updated Last By Comments
The Old Fishing Boats Of US Again Suffered The ... 13 hr It Takes A Tug Bo... 1
I Say Thanks + Wish the Performers in The Confu... 17 hr Many Thanks 1
Crook Fisher Tried to Lie For David Cheever.. W... Fri The Crook Fisher 1
The Fakers In The West Are Known To Steal and R... Fri All Fakers 1
David Bit Con Cheever's Dream To Be Super Rich ... Fri Liar Fisher 3
How Long Could David Cheever Stay Above The Law... Fri Cheating Game 3
Peter Ozimba (Jul '12) Nov 16 Ramon Grullon 5
More from around the web