Help on storage of gold.

machofairy

Hi,
I would like to start investing in gold by buying the metal itself. I am prepared to do most of my own research with regards to buying the gold. However, I do need advice on storage, or more specifically, cheap, secure, reliable long term storage. Ease of access is secondary for now.

I know the word “cheap” and “reliable” do not always go hand in hand, but does anyone have experience of this?

Also, I would prefer not to handle the gold at all, so my seller would have to send it straight to storage for me.

Is this a viable option without incurring too much overheads?

Thanks in advance.

jon3001

I think you want an allocated gold account. Perhaps check out BullionVault for starters.

atush

Or buy physical and get a safety deposit box.

nrsql

atush wrote: »

Or buy physical and get a safety deposit box.

Maybe avoid Harrods?
Problem is that nowhere is safe.

Lou_Naria

atush wrote: »

Or buy physical and get a safety deposit box.

or just P.R it.

machofairy

jon3001 wrote: »

I think you want an allocated gold account. Perhaps check out BullionVault for starters.

thanks. did not know about this site before. it looked perfect for my needs.

Lou, what is P.r. ?

bobbyj_2

how 'safe' is your investment with bullionvault? Is it covered for the first £85000?

jon3001

bobbyj wrote: »

how 'safe' is your investment with bullionvault? Is it covered for the first £85000?

AFAIK, looking at the website the gold is insured but company isn't subject to a regulator. Some others to research might be GoldMoney (regulated in Jersey) and Perth Mint (backed by the Australian government).

pelirocco

bobbyj wrote: »

how 'safe' is your investment with bullionvault? Is it covered for the first £85000?

How safe are any of these companies ?

http://www.consumeractiongroup.co.uk/forum/showthread.php?288553-Mayfair-and-Grant-(Gold-Investment-Loss)

Mayfair and Grant were linked to Crown Currency Exchange , who went into liquidation this time last year .actually to the very day


When checked , there was NO gold in their vaults ( there are also in administration )

jon3001

Moneyweek has an article on some of the available options:
http://www.moneyweek.com/investments/precious-metals-and-gems/a-beginners-guide-to-investing-in-gold

Lou_Naria

machofairy wrote: »

thanks. did not know about this site before. it looked perfect for my needs.

Lou, what is P.r. ?

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