5 Questions to Ask Before Storing Your Gold

Bank Vault

When investing in physical gold, silver or another physical commodity, buyers must have a plan for storing it. As a precious metals investor, understanding your storage options is a vital part of keeping your investments safe, while also eliminating unnecessary storage costs.

Before buying gold, consider how you will store it. Determining your storage plan will require you to decide what type of investment you plan to keep—short term, long term, hedge, etc. Understanding how you plan to use your investment will help you narrow your storage options.

To further help you find the storage option that’s best for you, ask yourself these 5 questions before buying gold:

  • How much gold do I need to store?
  • How much am I willing to spend a year on storage fees?
  • How quickly will I need to access my gold in order to sell it?
  • What other fees might arise from each storage option?
  • What insurance options are available for my gold?