Voima
May 27, 2019

Safe Storage of Gold

Gold has been seen as the ultimate way of preserving wealth throughout millennia. In addition, researchers have concluded that adding gold to an investment portfolio stabilizes returns. Owning physical gold is the safest way of owning gold, but storing physical gold raises questions to many. How to store physical gold so that the gold stays safe?

Storing Gold in Your Home

Storing gold at home is the most popular way of owning gold across the world. The majority of gold buyers and investors store gold at home either in a strong box, in the basement, or hidden in an ordinary closet. When you store gold at home, you take a personal risk because gold can be stolen from your home.

Does your home insurance cover the loss in case your gold gets stolen from your home? In many cases, the answer is negative. Insuring valuables like gold held at home can be expensive. Buying a strongbox or guard service can lower the risk of your gold getting stolen. Strongboxes and safes can also be quite expensive investments, and in reality, there is no such thing as a 100% safe strongbox. Given the right tools, a professional can crack any safe in the world. For these reasons, many gold investors have decided to store their gold outside their home.

Storing Gold in a Bank’s Safe Deposit Box

One popular option for storing gold is in a bank's safe deposit box. Safe deposit boxes are often heavily guarded and fundamentally safe places to store gold. However, accessing the deposit box requires the bank to be open. Banks can be closed with an executive order in case there is a financial crisis where banks are at risk of collapse.

Also, a national emergency such as a terrorist attack can affect the accessibility of your safe deposit box. For example, during the 9/11 terrorist attack, banks in the United States remained closed from Tuesday until the next Monday. Also, banks have often closed doors during wartime—when you most need your gold.

Storing Gold at a Private Vault

Another popular way of storing gold across the world is through a private vault. Private vaults are independent of the banking sector, so bank closures do not directly affect gold held in private vaults. Therefore, storing gold at a trusted private vault is a better option compared to a bank which is affected by many international risks.

However, private vault storage can be expensive, and vault operators rarely offer services to individuals with only small amounts of gold. Even large vault operators are exposed to political risks, but those risks can be minimized by selecting a geopolitically sound location. Also, unless you live next door to the vault where your gold is stored, you cannot sell your gold quickly if you end up needing cash.

Voima’s Vault

Voima was set out to solve the issues and limitations posed by other forms of storing physical gold. We aim to offer the best way of buying, selling, and storing gold by combining the safety of physical gold and the agility of online services. Clients can buy and sell physical gold in real-time via our online service. Our standards include that all trade is measured in grams, and so the smallest amount of gold you can buy from our service is one gram of 99.99 percent pure gold. Once purchased, the gold is fully allocated and held in our high-security vault located at Bulevardi 5, 00120 Helsinki Finland.

For the soundness and safety of our services, PricewaterhouseCooper (PwC) quarterly audits our vault and Liberty Mutual fully insures all client assets at all times. All gold bought and sold via our service is held and stored in our 99.99 percent pure 100g and one-kilo Voima gold bars. Storing gold in our vault in Finland costs 0.99% per year, and with that, you get superior liquidity combined with one of the safest vaults in the world.

Clients can also request a secure international delivery to their gold no matter where in the world you are. Buying and selling physical gold via our digital service is safe and simple—exactly how we like it in Finland.

Why Store Your Gold in Finland?

Here are just some of the reasons for storing your gold in Finland:

  • Rated as the most stable country in the world
  • Strong property rights
  • Finland has never confiscated privately held gold
  • Low crime rate
  • Low corruption

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Voima Gold LTD
Y2843889-9
Bulevardi 5
00120 Helsinki
Finland
Contact
contact@voimagold.com
+358 9 612 1917
Monday to Friday 9:00-17:00 GMT+3
© 2020 Voima Gold LTD
Nothing on Voima’s website or in our services is an investment recommendation or advice. The texts and published material on Voima's website are written to increase common knowledge about gold and gold markets. Voima's website and services do not contain suggestions about gold's future or current value, suggestions about gold related services or products or implicitly recommend or suggest an investment strategy of any kind.
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