How to Store Gold & Silver Bullion

At MyGold® we believe that ‘if you can’t touch it, you don’t own it’. We recommend customers safeguard their bullion using insured segregated storage, or by investing in a high-grade gold safe to control and protect their investments.

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 both sales of bullion and security deposit services. The key for most investors is to remain anonymous and have complete control over their precious metals. Points worth considering include:

  1. Your own security-risk profile/tolerance for risk
  2. Your physical location and accessibility of your storage location
  3. 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 contents 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 may ensure the safe storage of your precious metals. Some offer 24-hour, 7-day access. Opening a safety deposit box in Auckland, New Zealand is usually straight-forward, not too expensive and may give the investor peace of mind.

The Better Option – Private, Discreet & Secure Gold Safes

MyGold® recommends using a gold safe, of suitable grade, at a location you control for the maximum security, protection and peace of mind. High-grade safes offer excellent burglary resistance and when combined with other security measures, provide an ideal solution for you to hold and control your metal.

Contact the friendly MyGold® team for any questions you may have regarding Safety Deposit Box or other storage options.

Insured Custodial Gold Storage

MyGold® now offers select customers the option to store gold and silver bullion at their central Auckland headquarters. All items are 100% allocated, insured and segregated in tamper evident boxes.

MyGold® Custodial Gold Storage is perfect for high-net-worth clients, companies, trusts and wealth management professionals to help their clients acquire bullion products produced by the world’s leading mints and refineries.

We provide a highly liquid two-way market and you can sell your metals directly back to MyGold®. Settlement from the sale generally occurs within 2-48 hours and the proceeds are credited directly to your nominated account.

Your bullion products are available for inspection with 24 hour’s notice. Bullion held in Custodial Gold Storage is fully insured up to its replacement value and storage rates are calculated based on a percentage of the value of your precious metals holdings.

 

 

Weighing the Options

It’s not uncommon for customers to have unique requirements for safe storage of their gold and silver. What one investor is happy with, may not work for another person – for example one customer might have more silver by weight, and other has more gold by value. Both options require a different approach, grade of safe, level of security and location.

MyGold® has special knowledge on bullion storage, safes for gold and silver bullion, 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.

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