Store your coins and bars in a safe place

A few gold coins can be hidden quite easily at home, without excessive precautions. But if your gold assets are more important (one bar is worth more than 50,000 euros!), it is better to be more cautious.

If you want to keep your treasure close at hand, your insurance may require you to have a safe and an alarm. A cost to take into account.
Another possibility is to store your belongings in a bank safe, as well as jewelry or important documents.

But it is rather recommended to delegate the conservation of your gold to your intermediary. “It is possible to request that gold be stored in secure vaults, especially for online buyers, with the option to request delivery at any time”explains François de Lassus, consultant at Or en Cash, a network of more than 100 agencies that, for its part, guarantees this custody in France. “This service generally costs around 3% of the value held per year”, adds the specialist. Specifically, the bank opens a securities account for its client, allowing them to follow the evolution of the value of their investment.

Banking networks, which still offer physical gold to their clients, use Loomis FXGS services. Thus, “90% of sales are in conservation”, estimates the president of the company, Cédric Koczor. In the extreme case that the bank goes bankrupt, he knows that the investor remains the owner of his property. In case of resale or transfer from one bank to another, this preservation system also avoids unnecessary deliveries and handling.

Our advice

Putting your gold in a safe at the bank or in a secure location also avoids the temptation to handle it at the risk of tampering with it, which would cause a discount on resale.

MEGABYTE

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