Once you have made the decision to invest in gold, the next decision to make is where to keep your investment.
There are a few different options available when it comes to storing precious metals. It is important to take a thorough look at each option, as it may be wisest to take advantage of multiple storage services.
Here you can find a quick breakdown of different secure gold storage possibilities, so that your new gold investment is as safe as possible.
The first idea that may jump to mind when considering where to store gold is a bank locker in the UK. This option works for many people, but there are a few things to keep in mind.
Firstly, while a bank locker may be inexpensive, usually, the person renting the bank locker must insure its contents separately.
Secondly, storing gold in a bank locker can work for some investors, depending on how quickly the gold can be resold. If your gold is in coins, such as American Eagles, Krugerrands, or Sovereigns, then the resale time can be quite quick, as they are all recognized currency and do not have to have an assay to certify the gold. This makes them more liquid and easier to resell if desired.
Some investors may feel that storing their gold close to home is the best option for them. If this is the option you would like to take, make sure to take extra precautions to ensure the safety of your investment.
When buying a safe for your home, it is generally advisable to pay for the safe in cash, place it in a secure, secret location within your home, and to tell as few people as possible about your safe. The fewer who know about gold being kept on your property, the better.
One large advantage of storing gold in your home is that it is very easily accessible. If there is a quick turn in the market and you have the desire to resell, it is extremely reachable.
Storing your gold investment in a vault is another highly secure option. This has a few benefits with it as well, two of them being easy access and diversification.
If your gold is stored in a vault, it then allows the flexibility of being able to buy, sell, and store your precious metals all from one place. It also remains in full ownership of the investor.
Another possibility with vault storage is the ability to store your investment in different locations around the world for maximum security. Whether that is in a gold vault in London, or Swiss gold storage, taking advantage of different locations allows for maximum security.
Any Gold Investment customer has the advantage of using our storage options as well. Physical gold bars are kept at the London Silver Vaults at a cost of £4 per one oz of gold per year.
Using one or more of these storage options allows you the ability to keep your gold in easily accessible and secure locations. Take the time to research each option in order to find which ones work best for you and your investment.