Gold storage is an important aspect of any physical precious metals investment, no matter if you wish to hold it at home or in a securely managed vault.
Through our partnership with Legacy Gold, investors buying between 1-100 grams of gold can now opt to have it safely stored at private vault in the UK, outside the banking system.
You also have the all-important abilities to withdraw your bullion for delivery at any time and to go to the secure facility to audit & inspect your holdings.
Contrary to the potential risks of keeping bullion at home, metals held in a dedicated gold storage facility allows you to relax in the knowledge that it's kept securely and is insured at all times to 100% of the value on any given day.
The vault you will use is private and sits within the LBMA chain of integrity. It has nothing to do with the banking system and is managed outside and independently of them. That separation from the banks and financial system is important as it ensures that your bullion will be unexposed to risks and remain untouched in the event of any banking / financial crises.
However, if you don't wish to use our vaulting service – no problem. At the time of placing your order, you can just select the 'For Delivery' option and your bars will be delivered straight to you.
Anyone is able to buy and store gold through our Legacy Gold partnership, as long as the country you reside is not blacklisted for business by the UK government. Also, standard KYC and AML procedures will be applied to all new account applications.
Gold stored outside the USA is not a reportable asset.
That gives you a degree of insulation should the United States Government decide that you shouldn't own it.
A common question people raise when discussing gold storage is "…but how do you know it is really there?"
We understand that there is no substitute for you actually being able to see, touch and pick up your own bullion, and many people think that can only be achieved if you kept it at home.
To address that, you are allowed to personally visit the vault so that you can see, inspect and audit your own specific bars. All you have to do is to send a request to the Legacy Gold staff to arrange your visit.
As Legacy Gold is all about low costs (and therefore low prices to you), the ability to visit the vault is only available for clients holding a minimum of 0.5 kilograms in order to keep the company's administrative and operating costs as low as possible.
Everyone, including if you only have 1 gram of gold stored, will get statements of their holdings. Furthermore the entire vault is also regularly audited by external auditors to the highest standards to ensure that everything is as it should be.
The term 'Chain of Integrity' relates to an enclosed gold storage system that meets minimum security standards that guarantees that your gold is genuine and not fake or tampered with in anyway.
That guarantee is an important part of the precious metals markets because it allows bullion to be bought and sold without there being any question mark over the integrity of the content of the bars or coins.
Where gold bullion (or silver and other precious metals) are removed from this system, such as holding it at home, then the guarantee has been broken.
Breaking the Chain of Integrity affects the price of the product and speed at which it can be sold due to the presence of risk that the product has somehow been tampered with (even if you know otherwise).
So if you want to always get the best buy and sell prices, then it's always best to keep your holdings in secure gold storage.
All of the gold you buy is of 999.9 fineness and comes from an LBMA certified refinery. The bars are stamped with the refinery's and assayer's hallmarks, however, as the bars will not be larger than 100 grams (unless you specifically request a larger bar size for delivery), they will not bear a unique serial number like the larger bars do.
If you purchase and vault less than 10 grams of gold, it will be held in the form of fine gold grain from the refinery rather than manufactured bars.
By not taking that extra step of manufacturing a finished polished product, the associated manufacturing costs will not part of the gold you buy, which reduces the price you pay.
If you want to take delivery of your metal when you only hold grains then they will be converted into bars and sent to you. So if you have 1gram of gold grains stored then you will get a 1 gram gold bar delivered.
Once your holding in gold storage reaches 10 grams and more, then your grains get automatically swapped for bars at no extra cost to you!
This way you can now add as little as a single gram of gold at a time as and when you are ready to do so.
This process allows you to build-up your precious metals holding up to the point where you can eventually take delivery of a number of smaller bars or a single larger one.
Normally when you store precious metals through a bullion company, the vault owner/operators do not know or hold your identity.
It is common practice for vault operators to only know the details of the bullion company and your identity is only known to the company you deal with. That means that in reality, your holding in gold storage is not held directly in your name by the vault, but instead to the precious metals company acting as a custodian, who in turn hold allocate to you in their books.
If you already use someone, just ask them if the vault operator actually holds your name and copy of your identity, which is linked directly to your holding with them.
Through our Legacy Gold partnership, your fine gold grains and bars are held directly in YOUR Name by the vault!
As part of the commitment to provide you with the best value for money, each purchase you make will be accompanied by 6 months of free gold storage, irrespective of the quantity you purchased.
When the free period has ended, then your fees will be calculated according to how much you have vaulted.
It is important to note here that it is not the policy of the Legacy Gold partnership to make the storage fees a profit centre. We want to make the fees as low and competitive as possible.
The size / value of your holding will directly affects things like insurance premium and other associated variable costs. Therefore the fees you will be charged will be according to how much you have stored.
To get your bars delivered to you from gold storage you just have to contact the Legacy Gold staff.
You will need to state how much of your holding you want delivered and what size bar(s) you want to receive.
Once we know what the delivery is to be composed of, then you will be sent an invoice to cover the cost of the delivery.
After the funds have been received, then your bars will be delivered to you within 48 hours. They will be fully insured throughout the whole transit period until you take possession of the delivery.
Please note that we can only deliver to the address we hold on the system for you.
Your signature will be required to upon delivery, at which point the responsibilities, safety and insurance of the gold delivered will transfer from the company to you.
Unfortunately at present, this is not a service that we can offer.
To be able to ensure the integrity and quality of the stored gold, we can only hold precious metals that have been refined, assayed and kept within a recognised chain of integrity.
To do otherwise will only increase our costs and prevent us from being able to provide you with such low buy prices.
If ever such an untoward event happened, then there would be no impact to your gold in storage and your ownership and access to it. You will be able to contact the vault directly and ask for delivery of your holdings at any time.
Remember, the vault itself holds a copy of the personal and holding details of all of our Legacy Gold customers. Everything in gold storage is in your name at all times and never appears on the balance sheet of either GoldVu or Legacy Gold.
For anyone wanting to buy small quantities of gold, then you will not find a better option than through our Legacy Gold partnership.
The process to open a customer account for both individuals and companies is very simple and quick to do. After which, you can start buying and growing your physical bullion holdings in your own private gold storage facility.
Just visit our dedicated Legacy Gold website and select 'Open a Customer Account' at the top of the page to get it started.
You can also take it one step further and become an affiliate at no charge. This will enable you to receive a passive income on any purchases customers made who signed up via the dedicated link we give you when you activate that option.
Authored by David Gibson:
Authored by David Gibson: