Storage of gold

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Here you will find answers to the following questions:

1. What are the options for storing gold?
2. What are the advantages and disadvantages of storing gold at home?
3. What are the advantages and disadvantages of storing gold in a bank?
4. What are the advantages and disadvantages of storing gold with a supplier?

At a glance

• The main feature of investment gold in the form of bars and coins is its physicality. It is an object that we can always take with us. It gives us a sense of complete control over the part of our wealth that it represents.
• People who are considering buying gold need to answer the question of where the purchased products will be safely stored. As a matter of fact, this is not a big challenge, and certainly should not become an obstacle to the decision to invest one’s capital in the royal bullion.

The basic principle that should guide a person who is thinking about storing gold bars and coins is to be guided by his own comfort and peace of mind. After all, gold is part of one’s wealth, and no one wants to lose it and thus worry constantly about whether it is safe. Anyone investing in gold should feel comfortable with their decision and be confident in it.

Ways to store gold

There are several ways to store gold:

1. A safe place at home or elsewhere that gives us a sense of comfort;
2. deposit box at a bank;
3. deposit with supplier;
4. storage service at a specialized company.

At home

In Poland, by far the largest number of customers choose the first option, i.e. storing bullion in a place known only to oneself, to which only the owner and those he trusts most have access. This can be a special locker, a home safe or even a secret place in the garden.

Deposit box at the bank

The second form of storing valuables, which used to be quite popular, is safe deposit boxes at the bank. This type of service, however, has lost its appeal mainly due to the policies of banks, which have actually already ended this type of business. The vast majority of banks have already closed down their safe-deposit boxes, while the others are trying to do so.

When it comes to investment gold, depositing it in bank safes has always been a rather abstract idea. For many clients, acquiring bars and coins of royal bullion is a form of departure from the classic way of building wealth based on trust in banks. Owning physical gold gives you the freedom to dispose of your wealth without the need for intermediaries.

Storage at the supplier

Investment gold products can also be stored with a supplier. This is also a form available to any customer, although it may have its limitations. The supplier will not always be interested in storing small amounts of bullion due to the precautions that are associated with the stored goods (such as regular inventory of the goods).

Various forms of product deposit are available – allocated deposit and unallocated deposit. Each of these forms carries a cost, which is most often a percentage of the stored values.

Deposit with a specialized company

An analogous service to deposit with suppliers is to take advantage of the offers of specialized companies that deal with renting space for high-value goods. However, there is a shortage of such entities in Poland, so in this case you need to look for such opportunities abroad. This form of investment gold storage is also the most expensive of all.

Physical gold needs to be stored in a specific place. You need to have an idea for it and also a good answer. There are several storage options, and they are not hard to find. Nevertheless, the most important thing is to choose such a way so that you have a sense of complete comfort and security.