Many silver and gold
buyers forget one of the main reasons to buy physical silver and gold bullion
today is due to the world's current fragile financial system.
Some even make the
mistake of buying physical bullion and then storing it in a Safe Deposit Box
at their local bank.
Why is that a mistake?
Safe "deposits"
held within regulated bank boxes are not very safe, nor private, nor FDIC insured deposits.
Here are some major
drawbacks of putting bullion into Safe Deposit Boxes:
- Most likely not
insured by the bank.
- In the USA, the
FDIC does not ensure your "Safe Deposits".
- The IRS can freeze
and even seize your box.
- A Safe Deposit Box
is not cost effective for bulk silver storage.
- Difficult to
diversify internationally via Safe Deposit Boxes.
- Safe Deposit Boxes
are subject to bank holidays (for example during 9/11 banks
were closed in the USA. Brink's Salt Lake City remained open for
business).
- In the USA, bank
Safety Deposit Boxes are beholden to bank regulations.
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We are pleased to announce a new
Segregated Vault Storage option in Sydney, Australia!
Click here for further details.
Silver and gold are some of the only financial assets which can
be completely private held fully outside of failing
financial institutions.
We believe every investor should have investment grade bullion in hand
first. But given that home insurance policies will most likely never cover
silver or gold bullion, segregated non-bank vault storage is also a cost
effective and intelligent ownership option.
Through
these various vault storage options, you can have fully insured 3rd party
documentation of your holdings. And you may always elect to take physical
delivery at your demand or securely liquidate holdings when necessary.
