How title to gold works with Bitgold and Brinks
Our Corporate By-Laws require the company to secure all gold at LBMA or COMEX approved Vaults under fully allocated, segregated, accounts for the benefit of customers.So this question has been in the back of my mind -- my understanding of "segregated" is that there is some method of separating my own gold in the vault from every other Bitgold customer's gold in the vault. And yet I've seen elsewhere that gold is held in the vaults in certain sized bars (1kg I think?), which I have not yet deposited enough to meet the minimum size of. So my first question is, where does that leave someone like me? How are small account holders and fractional gram values handled?
Also, in an extreme scenario, such as if Bitgold were to go under, if I show up to Brinks New York and present my ID, are they able to deliver my holdings then and there? In other words, is title really in my name? Or would they hassle me over delivery of the gold I've purchased?