Tips for the safe storage of precious metals
The safest way to hold precious metals is to buy physical bars and coins. You buy what you fancy and store it yourself or place it in a high security storage facility. Storing at home has the advantage that the precious metal is always at hand. But, there is also a risk – the risk of theft being the most obvious, and private insurance cover is expensive.
1. Safe Deposit Boxes in Switzerland or in Liechtenstein
Echtgeld Ltd. recommends a secure storage company for the opening of a safe deposit box in Switzerland or in Liechtenstein. Here you will find all necessary information for a Safe Deposit Box in Switzerland and further information for a Safe Deposit Box in Liechtenstein.
2. Duty-free storage in Switzerland
(also applies to investors domiciled within Switzerland and Liechtenstein)
If required, ECHTGELD AG can provide details of high security storage facilities in Switzerland where you can place your precious metal holdings in allocated storage, which is insured with Lloyds. These storage facilities are not associated with the banking system and are accessible at all times.
White metals, such as silver, platinum and palladium can also be held in duty-free separate high-security storage facilities, which are exempt from value added tax.
If a company is to be entrusted with storage the following points should be considered:
The points mentioned above apply equally to silver. However, it should be noted that the storage of silver is more costly as this has mainly to do with volumes.