Dear Customer,

I want to update you on the latest development regarding your silver that was held by Euro Pacific Bank.

Over 100 of you have already followed the Receiver’s earlier instructions and emailed him written directions to have your silver transferred to Schiff Gold. Unfortunately, the Receiver has now changed his position and is treating your silver as if it is part of the bank’s liquidation estate, despite previously assuring both you, Qenta, and me that the precious metals were your separate property and outside of the estate.

This is inconsistent and hypocritical. The Receiver continues to insist that the gold still in Qenta’s custody is not part of the bank’s estate (and therefore refuses to take any legal action to recover it), yet he is suddenly classifying the silver—which remained under Qenta’s control until I personally recovered it back to the bank—as if it is part of the estate.

Because of this reversal, the Receiver is now requiring all silver owners to complete a full set of compliance documents before he will even consider transferring your silver. These documents are available here: https://epbprliquidation.com/legal-documents/. They include:

• KYC Form (Personal or Non-Personal Account) – Requires identity verification, proof of address, etc.
• Proof of Claim Form – Form A, already filed by most customers months ago.
• EDD / PEP Form – Enhanced Due Diligence questionnaire (only applies if you are a politically exposed person).
• Compliance Documentation Checklist – Requires supporting documents such as government-issued ID, proof of address, and in many cases, documents with an apostille.

These forms are burdensome and will create long delays, especially due to the apostille requirement on certain documents, which is time-consuming and expensive, especially considering that all customers reside outside the United States.

This means the transfer of silver will almost certainly be delayed by many months, and given the Receiver’s track record—he has not returned a single penny to any bank customer in over three years—the process could drag on for a year or longer. The only silver lining is that your silver is safe, and in my opinion it will likely be worth significantly more when you finally gain access to it.

The Receiver has also announced that he will no longer accept instructions sent to his personal email (the one I originally provided). He has stated that any emails sent there will be deleted. If you sent an email to him and did not receive a reply asking for additional compliance documents, you should resend your instructions to his preferred address: [email protected].

In the meantime, Schiff Gold will begin setting up accounts for all silver owners based on the personal information we already have on file, combined with what many of you recently supplied by email. A Schiff Gold representative will be in touch to confirm details and collect any missing information. All accounts will be ready to use, so if you wish to buy any additional silver or gold while waiting for the Receiver to act, you will be able to do so.

There is no urgency, as it is clear the Receiver is not prepared to initiate silver transfers anytime soon. But we want to be ready the moment he does.

Thank you for your patience. I will continue to update you on developments and press the Receiver to follow through on his earlier assurances.

If you own silver and have not yet emailed me to open a Schiff Gold account, send an email to me at [email protected] with your contact details and we will set it up. If you already sent me those instruction there is no need to send me anything else. 

Sincerely,

Peter Schiff

Sole Shareholder, Euro Pacific Bank