Investing in gold is one important decision but deciding how and where to store it is another. There are a variety of options available for you and we’re here to show you exactly what. It’s important you thoroughly research each option and consider taking advantage of multiple storage options to keep your gold safe at all times should one option be compromised. We have provided you with a breakdown of the options for your consideration, read on for more information.
Safe Deposit Boxes
Your gold bullion broker may give you the option to store your gold in an in-store safe deposit box with complementary insurance cover. You will have the flexibility to grant authorised access to your deposit box with peace of mind that your valuable commodity is being watched over 24-hour CCTV.
Vault storage is another highly secure storage option for your gold bullion. As with safety deposit boxes, storing your gold in a vault allows you to buy and sell all from one place whilst remaining in your full ownership. One recommended approach to vault storage is to spread your commodity across a variety of vaults, this can include different countries. If you have all your gold in one place you run the risk of losing the entire investment should there, be a security breach or natural disaster.
Many people opt to store their gold bullion at the bank. One thing to bear in mind with this form of storage is the insurance. A lot of the time with safety deposit boxes and vault storage you can include insurance in your monthly premium or at least benefit from some form of insurance up to a certain amount. With bank storage its solely down to you to provide insurance for your commodity, although the bank will be able to recommend how and where you do this.
Many gold investors choose to store their bullion at home, for a variety of reasons. Some like to be close to their commodity to enjoy viewing their investment, whilst others trust in their own abilities to store their gold bullion. We strongly advise when purchasing a safe for your home that you do so in cash, followed by placing the safe in a secure location inside your home, telling few, if any people where it is and that you even have gold in your possession. Being able to access your gold quickly is advantageous for most people as you can quickly liquidate your asset should you choose to sell if the market turns.
Typically, investors choose to make use of more than one of the storage options available to eliminate risk and protect their asset. In addition to storing your gold in a safety deposit box at your bullion broker you may choose to store some of your hard commodity in Switzerland. Storing your gold offshore in Switzerland is a popular choice due to the neutral democratic political system and overall safety and stability of the country.
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