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Where in the World Are You Best to Store Precious Metals?

The first questions you should be asking yourself is what kind of storage am I after?  There are several different kinds each with their own advantages and disadvantages.

1. Allocated storage. With this type of storage, the company has a vault full of PM bullion, usually in standard sized bricks (think Fort Knox). Read their terms and conditions carefully. They should have a 1:1 ratio of PM’s on storage, as depositors have purchased. It should be fully insured and regularly audited by a Top 5 independent Accounting firm. This is far safer than ETF’s as they are guaranteed to have the metal you purchased on hand at all times.

The thing is for any given bullion brick, there may be hundreds of shared owners to that brick. Should you wish to take delivery, you will incur fabrication costs, and a time delay to fabricate the metal, to your specifications.

In a financial catastrophe, the time spent doing this could be extremely costly.

Also there may be reporting requirements in your jurisdiction. Because it is shared storage, it may be deemed a financial instrument. Forms and tax payments may be required where as private or home storage would not fall into this category.

Another con, is that the only way to purchase is generally through a wire transfer so an electronic trail would exist.

An example of this type of service is GoldMoney.com and GoldSilver.com.

2. Private segregated storage. This means you deposit your metal with a storage facility, and it holds your specific bars and coins for you. These companies usually have a process for buying through them as well so you can just send money rather than PM’s The pros are all of the same, as allocated storage, with far fewer risks that are self-explanatory. The only con, is this type of storage is generally more expensive.

An example is: Global Gold discussed below.

What are the best countries to store your precious metals?

Singapore.

I believe that Singapore is one of the best places in the world to store your precious metals, but it wasn’t always like that. You see there used to be a sales tax of 7% that was applied to all precious metals transactions. Well on October 1, 2012, certain precious metals (in bullion form) were given an exemption.

Now that this tax has been removed, precious metals buying, storing, and selling in Singapore is my primary location and an important part of my precious metals plan

Silver Bullion is a precious metals dealer and storage agent out of Singapore and the one I recommend.

Singapore’s long history of property rights, and the fact that it just got voted the “Freest Economy” on the planet, gives it a lot of advantages over other destinations.

Switzerland

Global Gold is a high end Precious metals dealer and storage house in Switzerland. They offer both segregated and non-segregated storage. They are completely outside of the banking system however, there is a minimum requirement of 50k CHF so that may be a barrier for some people.

I hope this helps narrow down the search for where to store your precious metals.