Gold storage and how to store gold is a question that investors need to make a decision about before they start buying their gold bars.
You have three options for storage : you can store gold yourself, use a bank’s safe deposit box, or you can let someone else store it for you.
Burying gold in the backyard or someplace else you consider to be safe may be a bad idea (robbery, no insurance, stress…). If you lose it, it’s gone. It’s fraught with all kinds of problems. Another problem with storing gold at home is the illiquidity factor : To make it liquid, you need to return your bars to a dealer to sell them, which is a hassle. What is worse, even before the dealer accepts them, you may even need to get your gold bars refined so the dealer can verify the gold content, which costs money and takes time.
Storage in banks is not without its flaws : The obvious one is access. Bank hours are limited, as is your opportunity to get to it. There’s also the matter of insurance because the bank doesn’t insure the contents of a safe deposit box. If you want to feel really comfortable and secure, you have to buy separate insurance, which can be expensive, and it’s hard to get for precious metals in safe deposit boxes
And If your bank agency go to bankrupt, how to access to your stock ? In 1933, failing financial institutions, a suffering dollar and rising gold prices led to the government’s confiscation of gold. Could it happen again? The current economic climate resembles that of 1933, so it’s better to be safe than sorry and to take some precautions.
So the final and best option for storing gold is using a private firm, known as a depository.
Storage outside the banking system in secure vaults, in Switzerland
When someone else stores precious metals for you, you need to be able to fully rely on that supplier. Your storage partner should be located in a safety country as well as sufficient insurance.
With Goldbroker.com, your gold bars are held in secure vaults in Zurich (Switzerland), outside the banking system. The vaults are operated by a reputable European firm specialising in the secure storage of valuable goods. You can come in Zurich to check your holdings whenever you want.
Your gold is protected by extensive physical security measures, and by externally underwritten insurance.
Goldbroker.com offers the best solution for a secured gold storage.