Gold bullion bars can be a worthwhile addition to your portfolio. It's considered safe to invest in the yellow metal as a hedge asset. Trading in gold can be profitable too. This makes gold a popular investment choice for savvy investors and newbies alike.
Once you have made gold bars investment, the next step is to decide where to keep your gold bars securely. Considering there are only a few secured storing options available, when it comes to bullion, it is a crucial decision to make.
Most seasoned traders take the advantage of the high security vaults. Professional vaults are safe and offer numerous benefits as well.
Central Bullion is a leading investment bullion marketplace on which one can trade in gold and silver bullion bars. And the best thing about the platform is that your bullion investment will remain on your behalf in fully insured and audited secure vaults.
On this platform, your vaulted bullion is insured with no cap, to its full value, which means here your £2M bullion will be insured for £2M. But with limited Bank Deposit Protection schemes (such as FCA 85,000 max), it's not the same.
This investment bullion global marketplace makes precious metals investment a no brainer. You need not worry about the storage or security of your bullion. The investment portal also makes it possible for traders and investors to exchange their pool allocated gold bullion for silver and vice versa.
Vault storage option offers the flexibility of buying, selling and storing your bullion, all in one place without any risk involved. This takes off the stress of storing your precious metals.
Keeping your gold and silver bullion bars in your bank's safe can be another option. This option may work for many as it is affordable but it has its share of cons. When choosing this option, one must get their gold bars insured separately as the bank doesn't provide the insurance for your contents. This may cost you extra money.
Also, whether it's a good option for you or not will depend on how speedily the bars (or any other type of gold investment) can be sold.
As an investor or trader, just imagine this scenario - on a particular day, gold reaches a high and you want to get the benefit of it. But what if your bank is closed on that day? You would end up losing your golden chance to make a huge profit!
So, the downside of keeping your bullion investment in your bank locker is that you will have to consider your bank's timings. Also, banks remain closed on Saturdays and Sundays. And not to forget bank holidays.
Before considering your bank locker for storing your gold bars, you also need to think of the size or the capacity of the locker box. Whether it's spacious enough to store all your bulky bullion bars or not?
This option also comes with a risk involved during the transfer of your physical bullion to your bank. And whenever you plan to sell it, then taking your asset from your bank to the gold dealer may also be not safe.
Keeping it at home
Some people may want to keep their precious metal investment at home. We would never recommend this. Security is the biggest concern of this storage option.
Still, if you are considering this option, make sure to keep in mind a few things. When you buy a safe for your home, make the cash payment. Keep the safe in a secret place, ensuring nobody knows about it except the trustworthy members of your family.
Nobody from outside should know that you keep your gold at home.
Just like we mentioned in the case of a bank locker, when you plan to sell your bullion, taking your asset from your home to the gold dealer's place will not be safe and will entail considerable risk.
Investors and traders with larger holdings prefer professional high security vaults as they solve safety concerns and offer peace of mind.
Each of the above mentioned gold bullion storing options has pros and cons. You need to weigh them all before finally taking the decision.