Worried about keeping your Krugerrands safe?
- What Are Your Bullion Storage Options?
- You’ve made the right choice and invested in gold bullion, added to your portfolio and secured a worthwhile investment for the future, but what measures should you take in terms of bullion storage? Often investors get so caught up in the hype and excitement of investing that they forget about the practicalities of the investment such as: Where will I store my gold bullion and Krugerrands until the day when I choose to sell them or pass them on to my children? It is an important question as maintaining the integrity and preservation of the gold is imperative for successful and profitable resale. As an investor, you have a number of options when it comes to bullion storage, each of which has pros and cons, and seeing as it is your investment it is entirely up to you which one you choose. Here are your options when it comes to bullion storage.
- Storing Gold Bullion at Home
- Many investors choose to hold their bullion coins and Krugerrands in their own private residences, either in safes of deposit boxes. There are a couple of reasons for this but basically, it all boils down to your personal preference as an investor. The main reason why investors may choose to store their investment in their homes is the fact that it is free. If you store your coins on your own property there can be no annual charges or hidden fees and this is why a number of investors select this option. However, there are a number of risks when it comes to storing your gold bullion at home the chief reason being safety. No matter how much effort you put into your home security it will never be as secure as a vault in a financial institution. Similarly, many investors choose to store their gold bullion at home because it is private. The fact of the matter is that your home will always be susceptible to theft and therefore it is not ideal for gold bullion storage. Think of it like this: Does it seem practical to store all your cash under your mattress? Our advice would be to keep a few coins at home in case of emergencies, if it makes you feel more comfortable, and store the rest of your investment in a secure financial institution.
- Storing Gold Bullion in a Safe Deposit Box
- Some investors believe that the best option for gold bullion storage is in safe deposit boxes because they know that their investment is safe and they still enjoy the privacy that they would if the coins were stored at their private residence. However, as with home storage, there are a number of pitfalls when it comes to deposit box storage. The first is that the threat of theft is still apparent despite the fact that your investment is being stored at a secure location. The danger arises when you remove the bullion from storage in order to return it home or prepare for a sale; this is the time when you are susceptible to theft. Many dealers who do not offer safe custody services and will not transport your investment to a facility that offers secure deposit boxes. This means that you will need to transport your investment yourself, putting you and your investment at risk. In addition, safety deposit boxes are also the most expensive option when it comes to bullion storage. This being said, we believe the most cost effective, safest and most secure option when it comes to gold bullion services is undoubtedly incorporating the use of a custodian and their safe custody services.
- Storing Gold Bullion in a Safe Custody
- What are the advantages of storing your investment in safe custody services? Firstly, you enjoy the same amount of privacy that you would should you store your gold at home or in a safety deposit box. However, at Mr Kruger, our safety deposit services are offered for free. There are no hidden commissions charged by the custodian and there is reduced personal risk seeing as the coins are locked away in a vault at a secure location and not hidden at the back of your sock drawer. In addition, a safe custody service will also guarantee the integrity of the coin. This means it will remain in a pristine condition which will guarantee a healthy return on your investment when you do decide to trade it in. At Mr Kruger, we offer safe custody services to securely store your gold bullion until you are ready to sell or take possession of the coins yourself. If you choose Mr Kruger as your custodian your investment will be securely held in a vault safe from loss, damage and theft. Finally, at Mr Kruger, we appreciate your right to privacy. It is policy to afford all of our customers’ full confidentiality when it comes to your investment and your business with us. Your details will never be shared; neither will the value of your investment. We adhere to a strict code of ethics which ensures nothing but the utmost professionalism when handling your precious investments.