Where to Store Physical Gold?

Buying physical Gold is one of the smartest investment routes investors can undertake to ensure the sustainability of their wealth. This precious metal has the advantage of not being subject to economic inflation or monetary fluctuations. Moreover, the value of an ounce of Gold continues to grow: in 2005, it was estimated at $444.99.  Six years later, it crossed the bar of approximately $1,573.16 per ounce. Indeed, individuals in possession of gold bars, ingots, or coins during 2007, for example, are currently making a huge profit. But the issue of gold storage is sometimes the first blocking factor for holders.

In the article below, we’d discuss three ways you can store your physical gold investment.

1.   Entrust your Gold to a bank

At first glance, the most obvious avenue to store physical Gold will be the bank. Indeed, you can therefore rent a safe from banking entities. This saves you from domestic incidents like theft, fire, etc. However, the risk of losses due to a bank’s failure or bankruptcy still exists. In other words, your gold saving isn’t completely insured against losses. In addition, the vault of a bank is quite expensive to rent.

Some examples of these banks are Brink’s, HSBC Bank, and JPMorgan Chase.

Note: Before signing a contract entrusting you Gold, remember to check the insurance coverage offered by the bank- whether they adopt general liability coverage or explicit coverage.

2.  Store your Gold in a professional, secure storage

A company specializing in storing precious metals would store physical Gold on behalf of its customers in ultra-secure vaults. These storage vaults are usually located in politically stable countries and where governments have a very accommodating view of gold investments.

This option offers a highly secured yet equally flexible solution for gold investors. In addition to security is the liquidity of your Gold assets. You can sell your precious metals with just one mouse click.

3.  Store your Gold at home

Many individuals choose to invest in physical Gold and store it at home.  They might choose this storage option due to its convenience and the fact that they would always have the Gold at hand and under their eyes.  Nevertheless, like the other options considered previously, the risk is not to be ruled out. Cases of burglaries can hit you at any time.

So, if you opt for this solution, first think about doing it discreetly. Also, ensure you buy a fireproof safe to keep your Gold safe. Your safe and its contents will be kept intact against the flames in a fire outbreak.  When storing your Gold, it is advisable to store them at a less ubiquitous location like your garden.

As a rule of thumb, Before storing your physical Gold through any of the above mediums,  be sure to inform a trusted person. So, in the event of your incapacitation, your confidant can reveal the location to retrieve your gold asset. This way, your Gold wouldn’t be lost forever.

If you are interested in storing your physical gold investment with a secured storage provider, contact TRB bullion today!