How to Store Gold Overseas
Storing precious metals safely is key to protecting both their investment and sentimental value. Unfortunately, some individuals opt to store their bullion at home in a coffee can or in an unsafe deposit box at the bank – such methods don’t scale well and expose hard assets to natural disaster or theft.
Choose an offshore location carefully when considering storage; research can lead to finding one with privacy and security features.
Real Estate
Investing in precious metals can be an essential component of a diversified portfolio. But to protect it from theft, natural disasters and even yourself forgetfulness, you’ll need a secure place to store them – home safes aren’t ideal, while bank lockers may expose you to risky lending policies.
Keep your gold safe by opting for secure off-bank storage facilities that offer segregated and allocated storage solutions, with minimum all-risk insurance coverage of its value. Be sure to disclose transaction and insurance fees upfront so there are no surprises later on.
Selecting a country without VAT on physical bullion and with favorable property laws should also be an important factor when selecting a depository for physical bullion storage. Also check that accessing your assets easily when needed and whether there are proxy management arrangements offered by your depository, along with fees and charges being clearly disclosed by it.
Banks
If your gold and silver are stored in coffee cans in your mother-in-law’s basement or under loose floorboards in your parents’ attic, you could be missing out on an important security and storage opportunity. Not only could these valuable assets become vulnerable to natural disaster, robbery or forgetfulness – you are also exposed to frivolous legal claims from local authorities back home!
Banks offer an effective means of overseas bullion storage. While you may pay an extra premium, the added security and insurance protection are often worth it. When choosing your storage bank, look for those with high levels of security and confidentiality and who have less of an affinity to America – this helps mitigate sovereign risk as countries known to confiscate assets like hard money during times of political unrest.
Insurance
If you are considering buying gold bullion online, take time to do research on and evaluate your potential storage provider. When it comes to precious metals storage, private firms that offer secure, insured storage are generally considered safest – these solutions may also be preferred by investors with limited home storage space.
Storing precious metals at home puts them at risk of theft or natural disasters like fire or flood. A floor safe is one of the best ways to secure them and keep thieves at bay.
Storing precious metals overseas may provide you with jurisdictional diversification. If your country imposes capital controls or seizure measures on you, having all of your precious metals stored overseas makes it easier to leave without incurring capital controls or seizure fees if needed. Unfortunately, doing this would defeat the purpose of owning precious metals: access in case of crisis or war.
Government
As more investors dive into precious metals investments, they seek ways to protect their assets. A popular solution is storing it overseas – this can reduce the risk of confiscation by governments or civil war. When selecting your country of choice for storage purposes, conduct thorough research. Find one with a longstanding history in precious metals trading and storage as well as offering safe vaulting facilities and straightforward transportation logistics.
Home storage leaves investments vulnerable to natural disaster or theft, while bank safe deposit boxes offer only partial protection due to government seizures. Private vaulting facilities offer the best solution, providing privacy in an age where data is everywhere – Switzerland is famous for being home to reliable gold refiners and investors as well as providing safe storage facilities across different cities.
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