How to Store Gold & Silver Bullion
At MyGold® we believe that ‘if you can’t touch it, you don’t own it’. We do not offer storage on-behalf and recommend customers take physical receipt of their orders and store their items safely in a secure location.
Which Option is Best for me?
Generally we prefer non-bank-owned storage options and would question how independent a company can be if they provide sales of bullion and security deposit services. Key for most investors is to remain anonymous and have complete control over their precious metals. Points worth considering include:
- Your own security-risk profile/tolerance for risk
- Your physical location and ease of access to your storage location
- The space and costs required to safety store your metal
Most retail customers choose to store items at their home, however we recommend considering a few points related to home storage:
- Do you have an appropriate safe? There is no upper limit on what you can spend investing in a safe to store gold. Most cheap home-safes are not worthwhile and you should consider talking to a specialist provider. Things to consider are the weight of the safe, it’s capacity, suggested cash rating, grade, price and fire-rating.
- Is your property protected by a monitored alarm? A simple monitored alarm solution can be a good deterrent to burglars and will provide you notifications when the alarm has been triggered.
- Will you also list these items on your insurance? Paid Safety Deposit Boxes are not covered by insurance, meaning you have the same consideration when keeping items in a residential location. You will need to declare every high-value item on your insurance policy separately to be covered.
- Who really needs to know you own gold? Consider telling no one that you own gold and silver. While it’s tempting to bring out a few gold coins or silver bars when friends are visiting, this exposes you to unnecessary risk. The less people know the better for your security.
Safety Deposit Boxes in Auckland, New Zealand
Auckland, New Zealand is among the safest locations in the world to store your precious metals. With low crime and corruption, it is one of the freest and most peaceful countries. Storing at an Auckland depository vault can ensure the safe storage of your precious metals.
MyGold® has studied all the major Auckland depository vaults in Auckland, including New Zealand Vault, Commonwealth Vault, New Zealand Mint and Security Deposit Vault.
NZ Vault, established in 1931, is the longest-running safe deposit vault in New Zealand. It is trusted by three New Zealand banks and a trustee company to provide their safe deposit boxes operations.
Commonwealth Vault provides a premium service with complete privacy and security. The vault never closes and you can access your safety deposit box 24/7.
New Zealand Mint provides two types of safe storage options to cater to individual needs (we recommended other options).
Security Deposit Vault is open 7 days a week with security levels that exceed the US 5R National Insurance rating.
Opening a safety deposit box in Auckland, New Zealand is easy, cost-effective and gives investors peace of mind.
Weighing the Options
It’s not uncommon for customers to dig a hole in their backyard to bury their gold and silver. What one investor is happy with, may not work for another person that has less trust or faith in “the system”.
MyGold® has special knowledge on bullion storage and can recommend the best options for our customers. Your own safe storage requirements are unique to you – for recommendations specific to your requirements please contact us to discuss.