If you do decide to take possession of your gold investment, rather than just owning “paper gold”, it is up to you to decide on how you are going to store it. While home storage has many benefits it isn’t for everyone.
For those without the storage space for an adequate safe, or those who don’t want the responsibility of having all that gold stored in their home, a depository is a great option that can give you peace of mind and keep your assets safe.
How to Choose a Depository
When choosing a depository, it is a good idea not to select one that is connected with any of the big banks. If things start to go wrong with the economy and you decide it’s time to gain access to your gold, it might be difficult to do so if it is stored with one of the very institutions that are caught up in the ensuing confusion.
Ease of access to your gold is the main criterion to be used, along with its security, when picking a gold depository. Therefore, it is recommended to look for one that allows a short notice period, for example 24 hours, for arranging to access your gold.
Whether you want to make regular checks to your portfolio or simply remove it from storage, a small amount of waiting time between deciding to gain access and being able to do so should be at the top of your checklist.
Some Recommended Gold Depositories
Once you start looking for gold depositories you will find there are many more out there than you were aware of. Here are some of the most well regarded and popular places to store your gold that aren’t affiliated with any of the big banks:
First State Depository Company
First State Depository offer their services to institutions, commercial and individual gold owners, so no matter how much gold you are holding, they are sure to be able to help. They have a precious metals transportation service that can pick up and deliver your gold for peace of mind.
Their secure facilities utilize a Class-3 MEGAcrete module vault that will keep any unwanted visitors out. They have their own assay service that is completely safe and non-destructive to the precious metals being verified.
For more info, visit their website at: http://www.fsdepository.com/Vault/
American Depository Services
This is another popular gold and precious metals depository. Their storage fees are reasonable starting at $8 per month for gold worth less than $25,000, and rising to $12 per month for gold with a value of $25,000 or more. There is an annual account fee of $150 and an initial setup cost of $50. For those prices it definitely worth giving American Depository Services a closer look.
To get the full details of their services, visit the website at: http://www.americandepository.com/
As you can see there are a number of good reasons to store your gold with a reputable, professional depository service. The relatively low cost that using one of these facilities gives, alongside the peace of mind of knowing your gold is held securely but can also be easily accessed when needed, should not be overlooked.
The only real downside of choosing this type of service over home storages is that should the economy or society start to breakdown very quickly, you won’t have instant access to the only currency that might still be accepted.