Options for Storing Precious Metals

Precious metals such as gold and silver are a stable investment that represents safe capital even in the increasingly frequent times of crisis. However, anyone who invests part of their wealth in precious metals needs to think about the safest way to store them. In addition to safe storage, aspects such as easy accessibility and the best possible anonymity also play a role in precious metal storage. We present some options for storing precious metals and outline the advantages and disadvantages.

The segregated storage of precious metals in Switzerland

The secure storage of precious metals in Switzerland offers many advantages. Segregated storage, also known as individual safekeeping or special safekeeping, refers to the special storage of valuables in private high-security facilities, which is sealed by a deposit contract in accordance with the Swiss Code of Obligations. Non-bank providers offer their customers comprehensive insurance for the precious metals, covering theft, fire or robbery. This form of precious metal storage is also possible for people who do not live in Switzerland. All stocks are stored in safe deposit boxes and customers receive back exactly the same precious metals that they have stored here if required. Neutral Switzerland enjoys an impeccable reputation worldwide for financial matters. In this politically independent country, the privacy of each individual is of the utmost importance, meaning that it is possible to store one’s assets anonymously and securely.

Storing in a safe deposit box

Storing precious metals in a safe deposit box is a classic method of storing precious metals. Your own assets are relatively safe in a rented safe deposit box at the bank – there is no risk of theft here. However, those who invest in precious metals usually do so in order to be independent in times of crisis. However, access to the safe deposit box can be difficult, especially during crises. The safe deposit box is usually only accessible during the bank’s opening hours. However, in the event of a bank failure or other exceptional circumstances, the bank may close for a longer period of time and you may not have access to your assets. In addition, the contents of the safe deposit box are usually only insured up to a certain lump sum. If the assets exceed this value, you will have to take out additional insurance cover yourself. By doing so, however, you are indicating that larger sums of money are stored in the safe deposit box. You will also need to identify yourself to rent a safe deposit box — anonymous storage is therefore not possible here.

Private safe deposit boxes

If you distrust banks, you can also store precious metals in a safe deposit box from a private provider. Of course, you should first check the reputability and trustworthiness of the provider. The rent for a safe deposit box with a private provider is usually significantly higher than with a bank.

On the other hand, you will always have access to your assets even in the event of a banking crisis. However, private providers often do not have as high security measures as banks. In addition, you often have to increase the sum insured for the safe deposit box yourself if the stored assets exceed the lump sum insured.

Storing precious metals in a safe at home

In case you store your precious metals in a safe at home, you can access them at any time, even in times of crisis. However, storing valuables in your own home is always a security risk. The safe must meet certain security standards so that the contents are insurable according to their value. However, the delivery and professional installation of a suitable safe means that some people already know that something valuable is to be stored here. Burglars can also quickly track down the safe and force you to open it under threat of violence. A good safe also has a relatively high price.

Hiding precious metals at home

If you store your precious metals at home outside a vault in a hiding place, nobody has to know about them and you can access them at any time. However, this method of storing precious metals also involves certain risks. Burglars are often very resourceful and could discover the hiding place. Children playing or a household helper could also stumble across it by chance.

Caution is also advised if you want to bury precious metals in the garden, as they must be protected from moisture. What happens if you suddenly have an accident or suffer a stroke? This method of storing precious metals is not really safe. If you decide to use this method, you should divide your valuables among several hiding places and leave a letter with a notary referring to them. This way, you can decide what happens to your precious metals if something happens to you.