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This blog discusses The Perth Mint's bullion coins and bars, providing information about our latest designs, mintages, sales volumes and sell outs. On a broader front, we share relevant research and opinions for anyone interested in gold and silver bullion investing.

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Where To Store Your Gold

Topics [ depository services depository store silver store bullion store gold ]

EDUCATION

Terry Coxon from The Casey Report has some good advice in a recent article about the best place to store your gold: "In more than one place." He also advises that “your gold storage plan should have both a domestic component... and an offshore component.” The Perth Mint’s Depository business is very popular for the “offshore” component – around 75% of its clients are overseas investors – given Australia is economically and politically stable. For the domestic component, Mr Coxon recommends private safety deposit boxes over bank ones and mentions two US based providers. For Australian investors there are not many options, with “Safety Deposit Services” in the Yellow Pages only giving four proper private safety deposit box operators (this is not a recommendation):

VICTORIA - Guardian Vaults
NEW SOUTH WALES - The Vault
QUEENSLAND - The Reserve Vault and Safety Deposit Centre

While The Perth Mint’s Depository facility does not offer traditional safety deposit boxes, investors can store their coin and bar purchases with the Mint on an ‘allocated’ basis. This means the coin or bar is physically segregated from the Mint’s operational metal and identified as belonging to the investor. The advantage of this option is that the metal is fully insured by the Mint and investors have the comfort of knowing their metal is held in a facility with an extraordinary level of security.

Of course, one should never rule out personal storage, especially for small amounts. Gold is very ‘value dense’, in that a large amount of money value can be held in a physically small size. For example, a solid gold bar the size of a matchbox (something easily hidden) would be valued at over $20,000. In the end it is a personal choice based on individual circumstances and perceptions of risk.

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