Offshore Gold Storage
Most small-scale investors store their purchased precious metals at home. That is certainly a valid option for someone that bought a few gold bullion coins or even some smaller gold bars but it is not an option for large-scale investors though as the risk of theft would simply be too great. Storing gold and other precious metals with commercial banks also has its pitfalls. What if the bank goes bust or if the government decides to seize all gold holdings and declare all private ownership of the metal illegal? Offshore gold storage is the only way to evade these risks.
After all, the United States has a history of gold confiscation. That already happened back in 1933 and who is to say that it can’t happen again? In recent times, other countries like Cyprus and Greece have confiscated parts of their citizens’ private wealth held within the banking sector. Germany has just last year made it illegal to buy larger amounts of gold anonymously. The only way to make sure your greedy government can’t get its dirty hands on your assets is to move those assets offshore out of its reach.
In the not-so-distant past, Switzerland was the first country that came to mind when investors contemplated offshore gold storage. Nowadays, precious metal investors have a lot more options and not just in Europe but all around the world. Switzerland is certainly still a good choice but many other places like Singapore, the Cayman Islands, Dubai etc. are just as good as alternatives. Check out this page to find a list of some of the worlds’ best private offshore vaults.
Besides comparing the different policies, storage fees, insurance policies and security features of all these listed offshore gold storage vaults, there is also one additional important factor that you should consider in my opinion. That is whether you could imagine to live in that respective country for a prolonged period of time. After all, if the current Covid-induced inflationary financial policies across the world lead to a global financial meltdown (and the resulting worthlessness of fiat currencies), that is precisely what you may have to do at some point!