Storing Gold

[Mr H]

Hi,

 

At the moment I am currently storing my Gold in a couple of different vaults via Bullionvault. I do trust this company and had someone check them out.

 

However, I want to diversify my risk - when this thing comes down who knows what will happen!

 

Can anyone recommend another Vault that is trust worthy where you can store Gold?

 

*Don't want to store it in my house - too much risk*

 

Thanks.

[Fluke]

Dont know enough as i am not well off enough to answer but if i was in a position where my mortgage was paid off i would personally look at storing some fractional gold underneath the floorboards along with a few thousand pounds tucked away in fiat. Say 5 ounces in 5g bars for bartering? Barring the high premiums they would be easy to liquidate? Sorry if not a sensible answer lol. 

 

Edit

 

Also when push came to shove how do we know they are storing them in vaults and the metals are there? But at the same time you wouldn't want your entire assets in gold sat at home for obvious reasons.

Edited February 1, 2022 by Fluke

[Mr H]

1 hour ago, Fluke said:

Dont know enough as i am not well off enough to answer but if i was in a position where my mortgage was paid off i would personally look at storing some fractional gold underneath the floorboards along with a few thousand pounds tucked away in fiat. Say 5 ounces in 5g bars for bartering? Barring the high premiums they would be easy to liquidate? Sorry if not a sensible answer lol. 

 

Edit

 

Also when push came to shove how do we know they are storing them in vaults and the metals are there? But at the same time you wouldn't want your entire assets in gold sat at home for obvious reasons.

To answer your last question, they are heavily audited and I have had them personally checked out by someone I trust who is a professional. That is why I personally trust them. They also do physical delivery.

 

I don't think Gold is a practical bartering tool, you would need to start chipping bits off. It's only good to actually store the wealth. If for example you take the great depression no one bartered in gold, the most popular bartering commodity was chickens.

[Seeker]

Just to add with bullion vault, I recently sold some gold at a small profit, and withdrew the money to my bank with no issues at all

[Guest Gone Fishing...]

A wooden chest, bound in metal straps with a GOOD lock, buried on a uninhabited sandy desert island with only one palm tree.
Don't forget to make a map and clearly mark the spot with a big X 
 Keep the map safe...!!!

[Itsjaybigjay]

Its not that i dont trust the companys to store my gold. i dont trust the government not to change the rules and take the gold that way. I have a safe built into the foundation of one of my properties, only I know where it is and how to access it. Cant think of anything safer to be honest.

[Mr H]

46 minutes ago, Itsjaybigjay said:

Its not that i dont trust the companys to store my gold. i dont trust the government not to change the rules and take the gold that way. I have a safe built into the foundation of one of my properties, only I know where it is and how to access it. Cant think of anything safer to be honest.

Good idea. My concern about that is trusting the people who are delivering it not to pass on that info to a criminal organisation. Similarly, with the builder who would have to do the work. How did you get around these issues?

[Guest]

21 minutes ago, Mr H said:

My concern about that is trusting the people who are delivering it not to pass on that info to a criminal organisation.

 

You have it delivered elsewhere and then move it yourself to your home.

 

I knew a tradesman who was asked to renew some electrics and pipework .... to do this he said that he needed to open up a wall and was told all good, go ahead.

In this wall, he found duffel bags full of money (still in use money).

He nicked it all (about 2 hundred grand from what I know).

 

No one except you actually knows the internal dimensions of the rooms in your house.

An average 1 kilo gold bar is about 10cm by 5cm by 2cm (so quite small) .... (but if you have it in bars then that is not so easy to trade) .... Many can be simply hidden in any home.

A kitchen is easy .... a bathroom is easy .... but better to frame a fake wall (taking about 10 inches off one dimension of a room or storage  .... say an airing cupboard) and put it there.

 

If YOU don't physically have it if/when shit goes up .... why would you think you would ever get it? 

You would be on the phone all day long (same as many many others) trying to contact a firm that .... isn't there anymore.

Also brings to mind the old gold smith thought "They never all come at the same time to check that we have their gold!"

 

To add .... Your gold would not buy one tin of food or one lighter or one half bottle of whisky from me! <<<< in a shtf scenario!

[Mr H]

1 hour ago, ink said:

 

You have it delivered elsewhere and then move it yourself to your home.

 

I knew a tradesman who was asked to renew some electrics and pipework .... to do this he said that he needed to open up a wall and was told all good, go ahead.

In this wall, he found duffel bags full of money (still in use money).

He nicked it all (about 2 hundred grand from what I know).

 

No one except you actually knows the internal dimensions of the rooms in your house.

An average 1 kilo gold bar is about 10cm by 5cm by 2cm (so quite small) .... (but if you have it in bars then that is not so easy to trade) .... Many can be simply hidden in any home.

A kitchen is easy .... a bathroom is easy .... but better to frame a fake wall (taking about 10 inches off one dimension of a room or storage  .... say an airing cupboard) and put it there.

 

If YOU don't physically have it if/when shit goes up .... why would you think you would ever get it? 

You would be on the phone all day long (same as many many others) trying to contact a firm that .... isn't there anymore.

Also brings to mind the old gold smith thought "They never all come at the same time to check that we have their gold!"

 

To add .... Your gold would not buy one tin of food or one lighter or one half bottle of whisky from me! <<<< in a shtf scenario!

Thank you that sounds like an excellent plan.

[DaleP]

I've looked into Bullionvault. The thing is though, if you sell such gold you incur a CGT whereas if you bought Britannia gold coin, there is no CGT to pay. The annual CGT allowance is set at just over 12K for the next two years. If you are in London, you could open a safty box with metro bank, not expensive. Store your USB etc too

 

[Itsjaybigjay]

2 hours ago, Mr H said:

Good idea. My concern about that is trusting the people who are delivering it not to pass on that info to a criminal organisation. Similarly, with the builder who would have to do the work. How did you get around these issues?

I tend to buy gold through private sale and trade. And i tend to buy coins and jewelary rather than bullion. you do need to know what your doing tho, and I did the safe myself so only I know where it is and how to accsess it.

 

Inks idea is a very good one too.

[Guest]

21 minutes ago, Mr H said:

Thank you that sounds like an excellent plan.

 

You are not daft .... I am sure that you can work out something

 

At one point I had maybe the most expensive cat tree .... something like this

 

 

All of the upright tubes were filled with 'coin' .... became quite weighty and I even fixed the base to the floor.

 

Would have been surprised if anyone wanted to nick a cat scratching post (and they had star keys to remove it from the floor) rather than the computer etc

[Mr H]

8 minutes ago, ink said:

 

You are not daft .... I am sure that you can work out something

 

At one point I had maybe the most expensive cat tree .... something like this

 

 

All of the upright tubes were filled with 'coin' .... became quite weighty and I even fixed the base to the floor.

 

Would have been surprised if anyone wanted to nick a cat scratching post (and they had star keys to remove it from the floor) rather than the computer etc

That's awesome.

 

Yes when I was just looking up online after your suggestion I've folks storing in all sorts, empty paints cans, tinned food, tennis balls, fake shelves. Seems to be lots of options varying from easy to as difficult as you want.

 

Thank you so much again for your help.

[V G]

Hi,

The prob is, as I see it, when you buy gold your name and address go on a file somewhere in central government. This means that

your purchase is know to the Vamps who can check you out, and, if you haven't moved your address they can send people round to 

steal your gold. (Did you ever see the movie 'Clockwork Orange' where bandits attack a rich man and his wife. nasty in the extreme; but

personally, I would bear it in mind if planning storing 'big gold' in the house.

Insurance? Definitely, but the Vamps could steal the gold from the vault when they know the gold price has peaked , short the gold,

and get the insurance company to replace the

gold 4 weeks later from the peak in the gold price.

You've lost any chance to sell the gold into a price peak (such as occurred in 1980).

 

 

Edited February 15, 2022 by V G
Added some more thoughts

[peter]

If I were you if at all possible I would take it out and hide it somewhere and tell no one,at least you would have access to it ,that's what a mate of mine did

Edited February 16, 2022 by peter

[Macnamara]

I wouldn't store anything in their vaults. In the event of an economic meltdown it will all be seized

 

This is why some countries are trying to get physical ownership of their gold