Storage Or Delivery? How To Store Gold Safely
When you buy Gold bullion online there are a number of considerations to be thinking about, but one of the major concerns is going to be whether you are going to be responsible for storing your Gold safely or you are going entrust someone else with doing that – for a fee.
For someone who has the money, it’s real easy to get enamored by all those attractive, shiny Gold and Silver products on a bullion website and click “add to cart”.
But what are you going to do with them?
Gold bullion bars need to be left in the packaging for assay purposes – unless we are talking the REALLY big bars, and those don’t even stack well in a safe or PRIVATE safe deposit box.
One Of My Favorite Gold Bullion Coins
One of the reasons I personally like the US Gold Buffalo is not just its .9999 content, or that you currently can find low premiums to buy and high premiums to sell versus certain other Gold bullion coins, but something quite different.
It’s not that pretty.
Few people are going to look at a Gold Buffalo and think, “wow, that is so cool lets buy some more”. No, if you have a few you are good that way.
And if Gold ever reaches a mania, bubble price to where it should be traded out for other, better value investments, you’ll have less of a hard time parting with them.
But since they normally come in a mint sheet, even they don’t stack all that well.
So Where & How Are You Going To Store That Gold Bullion You Bought Online?
Let’s face it: the bank is out. Your backyard is not a good spot for at least 99.9% of us. In the house? Well, Gold survives fire but you’ll have to separate from the other rubble, hope the fireman are honest and then get it assayed.
And while the idea of burglary is scary enough, robbery is by far more scary and potentially deadly.
Do you really want that much Gold in the house?
I am not saying you should not have any Gold or Silver close at hand, just remember to somehow pass along its location to your heirs should you get too creative in hiding it.
But maybe you might consider some other options when you get the hankering to buy Gold bullion online.
3 Options To Buy Gold Bullion Online Worth Consideration
The next time you are considering buying Gold bullion online, give a thought to NOT taking delivery right away, knowing that if you REALLY wanted to you could with some vendors.
- BullionVault still seems to the be the hands down winner for being cost effective, easy to setup and get started and feature rich to use. Your bullion is offshore, which is considered good, but then you do have to report it (subject to minimums). You can have your bullion delivered but in my opinion, that’s not a key feature of the program.
- GoldMoney may be better known than BullionVault and their program is VERY similar, though specific features do differ (see comparisons here). Like BullionVault, this is not my top choice if I think I ever want to have the bullion delivered to me.
- Hard Assets Alliance is not that much more expensive than dealing with BullionVault or GoldMoney and has a few advantages. You may not have to report your account (see your own tax advisor); you invest in specific coins or bars, your choice; and the program is designed for you to be able to take delivery easily & quickly.
We personally like and use all three of these companies depending on our specific investment objective at the time.
Naturally, as mentioned at the start, there is LOTS to discuss when considering how to buy Gold bullion online and where you are going to store it is only one of them.
But, in our opinion, it is a VERY important one.
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