Many investors appreciate precious metals for their intrinsic value and resistance to economic downturns. Gold, silver, and platinum have remained universally recognized and valued commodities since the dawn of civilization.
However, before you rush to buy gold bars or coins, consider how you’ll store your precious metals. Various domestic and offshore facilities offer high-quality, professional storage to keep your gold safe. The following tips will help you choose the best gold storage company for your holdings.
Bullion Depository Categories
Professional gold storage providers in the U.S. fall under two broad categories: private facilities and government-owned precious metals depositories.
- Private depositories are privately owned, secure facilities for individual investors and businesses. These companies offer safe, flexible options for storing your gold. Investors can often choose between several storage plans and opt for extra services like bullion management and transportation.
- Government-owned depositories are state-operated facilities that often house national gold reserves. These depositories provide standardized, highly secure services with full regulatory compliance. Of these facilities, only the Texas Bullion Depository currently offers storage to private clients.
Top Domestic Gold Storage Companies
We’ve short-listed the top five depositories to help you determine the best gold storage company for your needs. All these facilities will provide safe, convenient storage for your precious metal holdings.
Texas Precious Metals Depository
Located in Shiner, Texas, this facility offers top-notch security and insurance coverage for your gold. The depository features underground, world-class gold storage vaults.
The Texas Precious Metals Depository charges reasonable storage fees of 0.5% of the value of gold, platinum, and palladium holdings up to $100,000. They also offer extra-secure dual-control safes for an additional fee.
Delaware Depository
This depository in Wilmington, Delaware, boasts excellent security standards and provides diverse, comprehensive storage solutions. The facility’s clients can choose between safer but more expensive segregated storage (storing one’s holdings separately) or mixed storage (keeping precious metals in the same space as other investors’ assets).
International Depository Services (IDS)
Based in Delaware and Texas, IDS provides advanced security and superior customer service. This facility features ultra-secure Class III vaults with 24/7/365 surveillance for gold storage.
The fees and storage charges vary, so it’s important to ensure you research their specific rates for your jurisdiction. Clients can easily and safely access their data through a proprietary online portal.
Brink’s Global Services
Brink’s Global Services (BGS) has several branches across the U.S. The facility offers highly secure shipment and storage for precious metals. As an IRS-approved storage depository, BGS stores IRA-compliant gold products like bars and legal tender coins.
Your gold will arrive at the facility in an armored, guarded vehicle and pass an inspection upon arrival. Brinks is one of the most widely known and well-renowned secured transportation companies in the US and has earned a stellar reputation.
Loomis International
Loomis International runs a global network of gold depositories with high-end security protocols. The company serves both financial institutions and private investors with the same high standards, offering safe storage, logistics, and inventory management.
Clients can choose segregated storage for extra transparency and security. Loomis also handles transporting physical gold to and from the storage facility.
Offshore Gold Storage Options
Many gold investors choose offshore storage for their precious metal holdings. Storing gold overseas can shield your privacy and provide a hedge against political instability. Offshore storage may also protect your physical metals from extreme scenarios like the government confiscating gold.
On the other hand, storing gold offshore may be pricier and more complicated. You’ll need to ensure you comply with both domestic and foreign tax laws. Moreover, accessing your gold during an emergency could be more difficult.
What is the best gold storage company of all the overseas depositories? The following facilities offer high-security precious metal storage in stable locations.
Swiss Gold Safe
Swiss Gold Safe is a bank-independent facility based in Switzerland and Liechtenstein. It offers allocated and segregated storage for gold bullion and other physical assets. All stored assets benefit from full insurance and strict security protocols. The company focuses 100% on mid- and long-term storage of precious metals and other valuables.
New Zealand Bullion Depository (NZBD)
NZBD is a gold bullion storage facility in Auckland, New Zealand. It offers allocated or segregated, insured storage in state-of-the-art vaults. This secure depository is a great option if you prefer to store your bullion in New Zealand, a remote, politically and economically stable country with a robust banking system.
Malca-Amit
Malca-Amit is a global gold storage facility with high-security vaults in strategic locations, including Hong Kong, Bangkok, and Singapore. Its security protocols include armed guards and 24/7 surveillance. Clients can choose between different storage plans, such as commingled and segregated storage.
Criteria for Selecting a Gold Depository
If you’re new to gold investments, picking the best gold storage company can seem daunting, as there are so many services to choose from. The depositories we listed are by no means the only options for storing precious metals. You can look into other services, but always ensure they comply with the following standards.
Security Measures
Security is the number one consideration when selecting a gold depository. You want to be sure that no unauthorized person can access, steal, or tamper with your precious metals. The top gold storage facilities feature advanced security infrastructures with constant surveillance and stringent access controls.
Top-notch gold storage facilities invest not only in physical security but in data protection as well. The company’s cybersecurity protocols should protect your sensitive data against hackers and digital threats.
At the same time, the storage service should provide easy access to your gold holdings. Depositing and withdrawing precious metals should be hassle-free.
Inventory Management
Reputable gold storage depositories run regular audits and maintain detailed, transparent reports on each client’s holdings. The inventory management system should record every received or withdrawn asset, complete with asset details, storage location, and client ID. Depositories must also check to ensure that stored items match their records.
Segregated storage ensures the facility stores and tracks your assets individually for enhanced security. However, commingled storage can also be a highly secure, cost-effective option as long as the facility maintains precise records and conducts inventory audits.
Cost and Fees
Gold storage costs can add up if you keep your assets long-term. Look for a company with a transparent, reasonable fee structure and no hidden charges. You should know exactly how much you may expect to pay if your holdings grow or if you opt for additional services, such as insurance or an extra-secure vault. Check whether the facility charges withdrawal or shipment fees.
Shop around to get a picture of gold storage prices. Many depositories charge a fee based on the value of the gold in your account (often 0.5% to 1% a year). Others offer a flat fee depending on your storage plan. Do the math to determine the more cost-effective fee structure over time.
Insurance Coverage
Comprehensive insurance coverage for gold storage is non-negotiable. You need to know that the facility insures your gold holdings against unforeseen events like theft, natural disasters, and other threats.
Considerations Against Storing Gold With Dealers
Some companies selling precious metal products also offer storage services. While it may seem like an affordable, hassle-free option, it’s not the ideal choice for storing your gold.
Your gold holdings are better off at a facility that specializes in storing precious metals and other valuables. Dealers who provide storage as an extra service may lack the ultra-safe storage infrastructure and rigorous security protocols of gold depositories. Additionally, depositories usually offer better insurance options for gold assets.
Moreover, storing your gold directly with the dealer may expose you to a potential conflict of interest. A professional gold depository is a 100% neutral service focused only on storing your gold. A dealer who also stores gold may push to resell precious metals from which they could benefit. Additionally, a dealer may fail to run regular inventory checks as they don’t have to comply with the strict protocols of professional depositories.
Last but not least, a self-directed gold IRA requires you to store your precious metals with approved gold IRA custodians. Many gold dealers aren’t IRS-compliant for this purpose.
Risks of Storing Gold at Home
Storing your gold at home may seem appealing because you pay no storage fees and can access your precious metal at any time. However, the risks of DIY gold storage far outweigh any benefits.
When you keep physical gold at home, you:
- Expose it to theft and loss: A burglary, flooding, or a hurricane may wipe out your gold stash.
- Miss out on adequate insurance coverage: While homeowners insurance policies may cover burglary, large amounts of gold usually fall beyond the coverage limit.
- Probably fail to comply with IRS policies: Keeping gold at home is against the rules of a self-directed IRA. You need to store your physical metal at an approved depository.
- Skip professional security measures: A residential home can’t provide the top-security vaults, around-the-clock surveillance, and watertight security protocols of gold storage depositories.
Are you planning to buy physical gold? Contact Preserve Gold for help with selecting the best gold storage company in the US or abroad.
