Precious Metals is pleased to offer independent storage for precious metals and rare coins. All coins and bars are stored with third-party depositories that are neither owned nor affiliated with Fisher Precious Metals. All precious metals in the storage program are insured by the depositories (typically through Lloyd’s of London) and only provide segregated and allocated storage.
Our Storage Program is particularly popular with investors and collectors who want the benefits of owning precious metals and rare coins but don’t want the burdens associated with storing these items themselves. Bullion investors can also acquire bulk precious metals such as gold and silver near the spot price of the specified metal plus a nominal commission fee – conversion fees apply for clients who later seek delivery.
Insured Depository (Vault) Storage
Depository storage is an alternative that allows you both privacy, as well as different geographic locations for storing your metals. There are advantages to utilizing depositories to store metals (and they are required for IRA allocations), but the depository you select should meet some stringent criteria. At the end of the day you still have to trust a third party to honor the agreement and protect your precious metals.
Allocated vs. Unallocated
- There are two ways metals can be stored at depositories, allocated or unallocated. Many depositories store and hold the metals in allocated accounts, meaning the actual precious metals that were shipped are being held in a separate area, similar to a safety deposit box. At point of distribution, the exact same precious metal that was originally deposited will be shipped out of the facility.
- Unallocated storage is also an option where the metals are co-mingled with other metals based on the size/weight and refinery of coins and minted year. At point of distribution, the metal will be the identical size/weight, refinery or same year coins that will be shipped out, but not necessarily the exact metal you purchased. We do NOT recommend unallocated storage to any of our clients!
- Fees vary by depository and it is important to do due diligence before selecting your depository. From a budget standpoint, investors should remember that depository fees need to be paid annually. We have assessed the fee structure of the various depositories and make our recommendations accordingly. Note: For IRA clients, please remember that your annual depository fees must be paid from your IRA funds – they may not be paid personally.
The depositories we work with and recommend are located in: Delaware, Toronto, and Grand Cayman. All of them provide our clients with allocated storage for market competitive fees.
Key Questions to Ask:
In terms of vault storage, many people expect it to be very expensive. Most are surprised when they find out it is really quite inexpensive. Fisher Precious Metals has vetted and reviews all of the fee structures of the depositories listed above. We have no personal interest in these firms and can transparently recommend them based upon our historical clients’ experience.
Before you put your precious metals in storage, make sure to conduct your due diligence by researching the following:
- Who owns the storage facility? – In general, if the dealer from whom you purchase your metals also owns the storage facility, this creates the conditions where fraud can occur. Fisher Precious Metals has no personal/business interest in any depository storage company.
- How are your precious metals stored? Just make sure to check. Allocated storage is the best way to store your metals. Your metals have an allocated storage location in which only your metals are stored. Unallocated storage is a scenario in which your metals are stored collectively with hundreds of other people’s metals. It is the “lumped together” storage solution and is never a wise choice, as errors can occur when trying to allocate the metals upon receipt or delivery.
- How quickly/easily can you sell your precious metals from the storage facility and get your currency? – It’s no use having your metals in a storage facility if it takes two months to get the currency once you have sold.
- What are the parameters or obstacles of taking physical delivery of your metals from the vault storage facility? Can they be delivered internationally in case you would like to relocate elsewhere.