Purchasing gold bullion is one of the best investment options people look forward to investing in. But once you possess them, the next question is where to store them protected from damage and theft. You have two options: either to take responsibility for the storage yourself or to entrust professionals like goldstackers.com.au to keep them in vaults for you.
Are you worried about the storage of your gold bullions? Here is some useful information you must know.
Storage at Home
Many people are more comfortable keeping their bullion at home under their custody. But here are a few things you must consider before doing that:
- You will need to dedicate some space to store the bullion.
- You have to find a place that is away from corrosives and dampness.
- You have to keep them a secret, as the more people know about them, there are more chances of theft.
- You have to find different storage spaces for different metals to avoid tarnishing and damage.
- Contents insurance usually does not cover bullion portfolios. You will need to get separate insurance for them.
Storage in a Safe
If you purchase a safe, you have to lock it away safely out of sight. Ideally, instead of freestanding, it should attach to the floor or wall. While purchasing a safe, give attention to its cash rating, which is the cover level the insurance underwriters give to the safe’s cash contents. It is multiplied several times for bullion, jewellery, and other valuables. The higher the cash rating it has, the more security level it will offer.
Custom-built vaulting facilities are a popular choice for gold bullion storage. There are various options to choose from:
- Pool Allocated Storage
A pool-allocated storage option is a cost-effective way of keeping gold bullion safe. If you regularly buy and sell gold bullion, the storage option gives you full physical metal insurance, which would be a significant savings program for gold investors who are just starting. When you decide to resell your bullion, you will get your funds in cash or deposited into your account.
- Allocated Storage
When you purchase gold bullions of particular denominations from service providers, you can ask them to vault your asset in their facility. Your bullion bars are identified by weight, purity stamps, and mintmark. Your bullion is vaulted with bars of other clients of the same size. You are free to get your bullions delivered any time. However, it requires a 2-3 days’ notice period to collect your items.
- 60 Days Hold for Shipping
Some vaulting services keep your bullion stored conveniently for a certain period, after which you have to collect them or request shipping.
- Private Storage
A private storage facility offers storage for your serial numbered gold bullions. The products are stored under your specific account name, and you can collect them any time after three days’ notice.
You may also request storage of the items you bought from anywhere else. The vault service providers photograph, weigh, register, and segregate your bullion in their vaulting facility to keep them safe.
These are some of the options you can choose from. Your final choice depends on the length of storage you desire and the type of transactions you want to make.