Key points
- Make sure the gold is allocated — specific bars or coins recorded in your name — and ideally segregated.
- Check what the insurance covers, who is insured, up to what amount, and whether it is included in the fee.
- Storing in another country is not automatically cheaper: transport, insurance, currency, reporting and withdrawal all cost money.
- Enter both the percentage rate and the minimum annual charge of each quote in the calculator.
Four main options
At home
Full, immediate access and no storage fee. On the other hand: theft risk, and not every home insurance policy covers precious metals, or it covers them only up to a cap. Check with your insurer before deciding.
Bank safe deposit box
High security and a relatively fixed annual cost. On the other hand: access only during opening hours, and the bank usually does not insure the contents by default. Read the agreement.
Professional vault
Vault and security companies offer allocated storage with insurance and audits, sometimes through the dealer you buy from. Check whose name the gold is held in, what is covered and how withdrawal works.
Vault in another country
Sometimes offered at a low annual rate. On the other hand: transport, insurance, currency conversion, reporting and tax requirements, and more limited access. Legal and tax advice is needed.
Six points to compare
| Topic | What to check |
|---|---|
| Ownership | Is the gold allocated in your name and segregated from other assets? What happens to it if the storage company runs into trouble? |
| Insurance | What is covered, which exclusions apply, how much cover is there, who is the insurer — and is it your metal that is insured, or the company’s liability? |
| Audit | Are there independent audits, and how often do you receive a statement of holdings with serial numbers? |
| Access | Visits, opening hours, the withdrawal procedure and transport costs. |
| Cost | Annual fee, minimum charge, deposit, withdrawal and vault-to-vault transfer fees. |
| Tax and reporting | Where the gold was bought, where it is stored, where you are resident, and any reporting duties that follow. |
Allocated vs unallocated, in one paragraph
With allocated storage, specific bars or coins are recorded in your name and often physically segregated. With unallocated storage, you hold a right to an amount of gold — in effect, a claim against the custodian. The LBMA notes that an allocated account is backed by a specific bar, and that investors pay a storage fee for allocated holdings and a maintenance fee for unallocated ones. The difference matters precisely when something goes wrong. Read the full explanation: allocated vs unallocated gold.
Is storing in another country cheaper?
Not necessarily. Even if the quoted fee is low, you need to add transport, insurance, currency conversion, any taxes and the cost of selling or withdrawing. For many buyers, convenience and access close to home are worth more than a small annual saving. Providers sometimes present tax advantages for storage abroad; have the tax and legal consequences checked by a professional where you are resident rather than relying on the provider’s description.
Example: how a minimum charge changes the picture
The same quote of 0.5% a year with a $600 annual minimum, on gold worth $30,000 over five years:
| Item | Amount |
|---|---|
| Metal value at spot (assumption) | $30,000 |
| Dealer premium (0%) | $0 |
| Sales tax / VAT | Not included (depends on jurisdiction) |
| Total purchase cost | $30,000 |
| Storage: 0.5% a year × 5 years (minimum $600 a year) | $3,000 |
| Sale spread (0% below spot) | $0 |
| Total costs over 5 years (no change in the gold price) | $3,000 · 10% |
In practice you pay 2% a year, not 0.5%. With larger holdings the minimum stops mattering. Check every quote over one, three and five years, and do not forget the sale spread.
Open the storage and cost calculator
Questions to ask a storage provider
- Whose name is the gold held in, and is it allocated and segregated?
- Will you receive a list of holdings with serial numbers, and how often?
- Who is the insurer, what is the cover and what are the exclusions?
- What does it cost to withdraw the gold, and how long does it take?
- What happens to holdings if the company is sold or stops operating?
Moving physical metal across borders requires checking the applicable law, customs and reporting rules in every country involved. Gold Decision does not recommend any storage location and does not guarantee the security, insurance or soundness of any storage provider.
Sources and verification
- LBMA — Precious metal accounts: allocated and unallocated
- FINRA — 10 things to ask before buying physical gold, silver or other metals
- LBMA — Good Delivery
Mentioning an organisation is not an endorsement. Sources checked 15 November 2026.