I’ve always been an avid supporter of precious metal investments. In my opinion, no other asset comes even close to the stability and inflation resistance of gold, silver, and other such metals. But, one question that I often hear from new investors is how to actually store the precious metals they’re buying.
First things first, I highly advise against storing the metals in your home. The last thing you want is to lose your retirement funds in a single home break-in. Instead, I suggest acquiring the services of a precious metals storage company.
These companies allow you to store your precious metals in a secure and well-guarded location, while also providing benefits like asset insurance.
Criteria for Evaluating Storage Companies
So, how do you choose one precious metal storage company over the others? For me, these are the key criteria that a company has to fulfill before I can trust it with my hard-earned investments:
Security
This goes without saying, but the company should have impenetrable security that ensures the safety of its customer’s precious metals.
Accessibility
The process of sending my purchased precious metals to the company and withdrawing them should be streamlined and effortless.
Insurance
It should provide an insurance service that covers my precious metal assets in case of theft, damage, or other unforeseen events.
Costs
This is a combination of two key factors. First, the fee structure and other costs should be transparent and easy to understand. Secondly, the fees shouldn’t be so high that they cancel out any profit I gain from increasing precious metal prices.
Top Precious Metals Storage Companies
With the aforementioned criteria in mind, I tested the services of dozens of precious metal storage companies. Here are the ones that impressed me the most:
GoldBroker
GoldBroker is the most well-rounded precious metals storage company I’ve come across. Allow me to explain.
For starters, the overall customer service of GoldBroker is flawless. I didn’t experience any issues depositing or withdrawing my precious metals. I’m not alone in this experience either as the company also has an impressive 4.8-star rating on Trustpilot — indicating its reliability for a host of different customers.
In terms of security, GoldBroker offers state-of-the-art storage facilities in four different locations. These are:
All of these facilities are also managed by Malca-Amit, a storage partner that has been in business since 1963. Malca-Amit also provides GoldBroker customers an insurance contract to secure their assets against theft, which — from what I’ve seen — is very unlikely.
My favorite aspect of GoldBorker’s precious metals storage service, however, is the direct access feature. In summary, the company allows you to physically visit their storage facility (with 48 hr advance notice) and inspect or withdraw your metals. In my experience, this can be a source of relief for investors who are worried about the storage of their precious metals.
One aspect of GoldBroker that might seem like a downside to some investors is the fee, which is 1.5% of the assets' value. While this is higher than most other choices on this list, I personally believe that it’s worth it for the company’s fantastic service quality and flawless security.
J. Rotbart & Co.
After using the J. Rotbart & Co. precious metal storage service, I can safely say that it is the best option for high-volume investors. This is because the company offers a completely bespoke service to each customer. All you have to do is get in contact through their email or phone line and customer service will guide you through the rest of the process.
I personally contacted the company through their email address and the reply was faster than I expected. What surprised me the most, however, was just how polite and patient the customer service rep was with me, despite the fact that I was only opening a very small account for this review.
Even if we ignore the premium customer service, J. Rotbart & Co. still earns its spot on my list with its security and other features. Most notably, the company offers storage facilities around the world, including Hong Kong, Singapore, New York, Toronto, London, Zurich, and more.
Plus the company also offers one of the most extensive insurance for liability coverage in case your precious metals are stolen or damaged. While you’ll likely never avail this insurance, having such a policy tied to your account can be quite reassuring.
The only potential downside of J. Rotbart & Co. for me is that new customers have to get in contact to get fee information. Though, given the service quality, it’s only a minor inconvenience.
GoldSilver
From an objective standpoint, GoldSilver is one of the most robust precious metal services on this list.
The feature of GoldSilver that caught my eye as soon as I examined its services, is its attractively low fee structure. For a private vault storage, you only have to pay 0.6% the value of your assets per month with a minimum of just 4 USD. Yes, that is a just four USD fee if your assets are worth less than 6,666 USD.
Additionally, GoldSilver also offers a reliable quick liquidity option. The company works with a network of buyers who can bid on your assets directly and purchase the precious metals without requiring any effort from you.
I tried this liquidity service myself and the turnaround was much faster than it would’ve been if I had to receive the physical gold and sell it myself.
Plus, GoldSilver also works with trustworthy companies like Brinks and International Depository Services to transport and store your metals, so security is on par with the best in the business.
GoldCore
If you have a hard time trusting a company with your hard-earned precious metals, GoldCore might be just the one for you. Here’s what I mean.
One of the most noteworthy aspects of GoldCore for me is its focus on security and customer satisfaction. For starters, the company has partnered with the 164-year-old management and transport company, Brinks, to handle your precious metals.
Additionally, GoldCore also works with Loomis to store your assets, which — to my knowledge — has a flawless track record with security. Not only that, but the company also works with Inspectorate International to audit their storage facilities and ensure that your assets are exactly where they should be.
My overall experience with GoldCore was also on par with the other companies on this list as I did not experience any delays or issues when depositing or later withdrawing my gold coins.
As for fees, GoldCore charges a 1% asset value per year; a bit high, but worth the peace of mind.
Sprott Money
The best way I can describe the Sprott Money precious metal storage service is that it is “complete,” as it offers everything an investor needs to secure their assets.
For example, Sprott Money charges 0.35% asset value per year on accounts that are worth less than 5 million dollars, or a minimum of 16.67 CAD per month. While this isn’t the lowest fee on this list, it is still marginally better than most of its competitors.
Similarly, the company also offers storage in a large number of locations to fit your needs. These locations include:
From what I’ve seen, all of Sprott Money’s storage facilities are also quite secure as they’re also managed by Brinks and International Depository Services. I personally stored my precious metals in the Delaware location and got free shipping which is appreciated.
Additional Considerations
While the criteria I mentioned above are the most essential part of choosing precious metal storage companies, they are not the only considerations you should make. Some additional factors to evaluate include:
Geographic location
Many of these companies offer storage in a number of locations, including foreign countries like Singapore and Switzerland. Make sure to choose a company that has the most convenient location for your use.
Reputation
I recommend reading online reviews (like this one) before trusting a storage company with your precious metals. You can find personal insight from customers on social media platforms like Reddit and X (formerly Twitter) as well.
Additional services
Some companies also offer additional services, like the quick liquidity service from GoldSilver I discussed above or the free shipping offered by Sprott Money.
If you’re having a hard time choosing a company from the list above, going through these additional features can help you make a decision.
Conclusion
If you are looking for a precious metal storage company that offers the perfect mix of security and reliability, I cannot recommend GoldBroker enough. That said, you should have a fantastic experience working with any of the five companies I’ve listed above.
But, before you hand your hard-earned precious metal investments over to any storage company, including GoldBroker, I advise you to do your own research. Analyze the features, services, fees, and security of a company yourself before making the final decision.
Also, remember to evaluate each option based on the criteria I listed above if you go looking for companies that aren’t mentioned here.