Monday-Thursday 8:30AM – 4PM CST

Friday 8:30AM – 1PM CST

precious metal storage

Safe Way For Precious Metal Storage

Table of Contents

You purchased precious metals like gold bars or silver coins to protect your wealth from economic turmoil and safeguard your future. It’s just the first step towards securing your future investment, and the next phase is securing your holding. When people start investing in precious metals, the most prominent question is where to buy precious physical metals, and the next one is how and where to store the metals one has purchased. 

As a matter of fact, the need for more awareness of precious metal storage is one of the reasons why people hesitate to purchase gold and silver. While the most typical storage choices are storing metals at home, bank safe deposit or vaults, one must choose the best storage option evaluating their financial circumstance and timeframe of storage.

This article will guide you through everything you need to know about precious metal storage and the options for storage, along with the pros and cons to decide which option suits you the best.

Types of storage options

As a customer, the onus is to understand the storage options, service charges, and their advantages and drawbacks before you pick out the storage option to store your precious bullion. Stay tuned to learn more about the four most preferred precious metal storage options. 

Home storage for gold and silver

When storing gold and silver, people must care about the security and availability aspect. Keeping your precious metals within the four walls of your house gives you control over your precious metals and the luxury of purchasing any precious metals in any quantity when you are storing them at your home, free from the legalities and technicalities of an institution. Just purchase secure storage safe, and you’re good to go. 

Although there are several factors that you must take into account when storing precious metal at your house, be it the fire outbreak and water leakage issue with your storage safe, theft, or insurance. 

Pros of home storage

Accessibility: The main reason people choose silver and gold bar storage at their homes is the ease with which they can reach them. People collect precious metals to use in times of need or unpredictable financial circumstances, and such challenging times may arise anytime. From the perspective of emergency use, home storage makes sense. 

Self-reliance: When you opt for home storage, you don’t need the involvement of a third party, be it a private or public institute or an authorized person, to sanction your precious metals. You are the only one accountable for all the handling when you store it at home.

Cons of home storage

Damage protection: The environment and temperature at which you store your precious metals are also what you must consider to preserve the physical outlook for your metals and save it from rusting. While gold doesn’t corrode, no matter how you store it, silver does oxidize and loses its original charm, yet the value of the metal is not lost. Having said so, when selling such deteriorated metals, the buyer has to go the extra mile to melt them and start from scratch. So keep in mind that might affect your selling price. Overlooking all these factors can be tedious and expensive for someone new to all of this.

Ease to steal: Another serious issue with storing your precious metals at your house is the risk of theft and the safety of everyone living in that house. Holding such valuable metals at our home makes you vulnerable to burglary and attack if the word gets out. There are better options than house storage for someone who wants to avoid the looming worry and stress of keeping valuable metals at their house. 

Bank safe deposit boxes for precious metals

If you are considering storing gold or any precious metals that have high security, holding your precious metals at the bank’s safe deposit is considered safe for precious metals over keeping them at your house. First, do proper research about the banking partners you’ve narrowed down, make sure they have a good reputation, and provide top-notch security to your metals against theft and damage. Also, consider the accessibility aspect when opting for a bank deposit and be well aware of your withdrawal options beforehand. 

Pros of Safe Deposit Box

Security: Banks, as it is, are high on security, so when you select the safe deposit box provided by banks, you can rest assured about the risk of theft or damage to your metals. 

Affordable: The prices of safe deposit box may differ in different locations and also depends upon the size of the deposit box, but don’t worry, it doesn’t cause a hole in your wallet. The fees start from as little as $15 up to $150 a year. 

Cons of Safe Deposit Box

Restricted access: When you choose banks as your precious metal storage option, you must consider the working hours of banks and hence, the time restriction it brings you. You have to follow the operating hour of banks if you want to withdraw or store them and add the paperwork time. 

Expensive Insurance: Banks need to provide you with the insurance facility for the goods you store in your deposit box. If you want the double assurance and the security of your precious metals, you must purchase separate insurance, which adds to your cost.

Government Seizes: There is no law in place that states that the government is authorized to hold the precious metals you store in your safe deposit box, but under crises, they can seize your valuable assets in the form of an executive order. Also, under some circumstances or suspicions, the government can issue you a legal notice to access or seize your safe deposit box for an indefinite period or until the legal proceedings are over.   

Private vaults for gold and silver storage

You can also choose private vaults to store your bullion because they provide an added level of security. The depository/vault storage service providers offer security to your precious metals, protecting them from elements that can distort their appearance. The most exciting feature of private vaults is that you have complete ownership of your metals, and the depository also takes care of the insurance of your metals. 

Pros of Private Vaults

Easy to sell: When you go for the private vault route, you can sell your metals anytime, and the amount will be wired to your bank account within the same day. 

Insurance Coverage: Along with the security, private vault depositories provide full insurance and are subject to yearly audits by unbiased third parties.

Open For Delivery: Private bullion vaults also provide you with the facility of 24/7 delivery and shipment of your bullion. Depending on your location, it can be delivered overnight or within a specific day. 

Cons of private vault storage

Lack of Physical Access: High security and safety with private vaults mean you are not permitted direct access to your precious metals. You are not authorized to enter the vault under any circumstances, but you get the delivery option of your metals anytime you wish. 

Cost Add-On: The charge for a private vault is more on the pricier spectrum because they are based on the insurance provided for holding your personal metals and your account size (i.e., the valuation of your precious metals). The two combined, and gradually over the years, a fraction of your investment will be gone just in paying for the private vault storage services. 

Offshore storage facilities for gold bars

Owning precious metals, you should be aware of the 1933 Executive Order 6102, where Americans were banned from holding physical gold unless it was jewelry or collection coins and restricted from trading. Offshore storage is the best way to secure your precious metals to avoid such extreme steps from the government. Do choose an offshore financial center when going for offshore storage. 

Pros of Offshore Storage

Well-rounded Protection: Offshore holding of bullion metals has the complete protection of your assets from the changes in government laws against precious metal holdings and economic fluctuation. The offshore storage also provides full security and safety for your physical metals. 

Diversification: Considering offshore precious metal storage is wise for large investors as they can diversify their storage onshore and offshore. Political diversification means you can be assured your precious metals are safe and secure even when your home country has a political, political, or economic crisis.

Cons of Offshore Storage

Transparency Issue: With the offshore facility, regulation or oversight may differ from your local storage facilities, which is an issue when it comes to monitoring the safety and security of your precious metals.

Currency Difference: The rate of your local currency plays a role when choosing offshore storage because the decline in the local currency undoubtedly impacts the value of investment of your precious metals. 

Insurance Expenses: Securing insurance for your gold and silvers in a foreign country can be a hassle with offshore storage and an additional expense compared to the ease of local storage. 

Legal and Regulatory Considerations

Physical bullion is labeled as “collectibles” by the Internal Revenue Service (IRS), and the bullion in any form makes you subjugated to capital gain tax. So, when storing such precious metals, they fall under a specific law you must be mindful of and follow strictly. Here we’ve listed some critical legal and regulatory considerations you must be up to date on.

Tax implications of storing gold and silver

Precious metals labeled as capital assets are specially classified as collectibles by the Internal Revenue Service (IRS), so you’re subjected to capital gains tax if you invest on such investing on such precious metals in any form and when the holding has exceeded a year. 

Physical precious metals are accountable to a capital gains tax equal to the marginal tax rate, which totals 28%. Short-term gains for precious metals come with tax at ordinary income rates. 

Reporting requirements for precious metals storage

The jurisdiction of your precious metals’ location and storage arrangement greatly affects the reporting requirements. The guidelines are listed below:

Local Reporting Requirments: If you choose a local storage facility to store your precious metals, you must report the holding on tax returns and other regulatory filings. A tax advisor can guide you about the specific reporting requirements in your jurisdiction. 

Offshore Reporting Requirements: When choosing an offshore storage facility, you must report the holdings to your local tax authorities or the tax authorities in your storage facility’s jurisdiction. 

FATCA Reporting: Foreign Account Tax Compliance Act (FATCA) demands foreign financial institutions report certain U.S. taxpayers’ account information to the Internal Revenue Service (IRS). As a U.S.A taxpayer, if you’re storing your precious metals offshore, the storage provider may need to report the holdings to the IRS under FATCA. 

Compliance with anti-money laundering laws for gold bar storage

Precious metal storage providers comply with anti-money laundering (AML) to prevent the storage and movement of illicit funds or assets. Precious metal storage provider must comply with the AML Laws, which requires them to have the identification documentation of their clients, run a background check when needed, assess their financial standing, monitor the activities on their bank account, and keep an eye out for any illegal financing to prevent money laundering.

All in all, the choice of precious metal storage depends upon the requirements and financial competence of the precious metal owner. Whether you feel that keeping gold and silver at home makes more sense for you or you wish to go the extra mile for security by employing storage facilities to store your bullion, it’s your choice. Before making any decision, ensure that you’ve understood the legalities and security aspects of all the storage options and their pros and cons to make an informed decision.  

Isaac Kahan

Isaac Kahan


Terms & Conditions

Trading in gold and other precious metals is risky because the market is volatile. Past performance is not indicative of future returns. This is why we encourage you to read Our Terms and Conditions carefully before making purchases, selling, or placing orders with BULLIONTRADING LLC. Refer to Safety Tips from the CFTC (Commodity Future Trading Commission). These terms and conditions apply to all orders, all purchases, and all sales made through our website, telephone, or other channels.

In the event you do not fully understand the terms of this agreement, BULLIONTRADING LLC strongly encourages you to consult with your own experts. BULLION TRADING enters into transactions with customers on the reliance and belief that clients are aware of, understand, and agree to these terms.

These terms and conditions are effective as of March 11, 2022, and are binding to all new and existing customers and users.


The prices for gold, silver, platinum and palladium coins and bars keep on fluctuating because of the risk factors that cause price volatility. The risk factors include political development, war, pandemics, demand, and supply. It is important to keep this in mind when transacting with BULLIONTRADING LLC.

The Ordering Process

BULLIONTRADING LLC. Does Not speculate on the prices of precious metals. This means that we don’t make profits by buying gold when the prices are low and selling when prices go up. BULLIONTRADING LLC generates revenue through premium spreads. This is the difference between what Bullion Trading LLC pays & sells these items for.

Orders and inquiries can be made through our website, phone, or other suitable channels. Contact Us for information.


Inquiries are made by customers who are not ready to transact immediately. Customers can contact us or go online at to get current market prices. The price quote and quantity available are subject to change. They can also contact us for guidance on buying and selling bullion coins and bars. You should note that the Price Quotations you receive when inquiring are Estimates because the prices of bullion coins and bars fluctuate daily, and the number of our stock changes all the time.

For example, The U.S Mint sets premium and minimum prices for American Eagles. Prices for American Eagles are determined by the current price of gold, silver, platinum, or palladium. The mint also charges a modest premium to cater to the cost of distribution and marketing. Consequently, the price of bullion coins and bars changes daily as the markets for gold, silver, platinum, and palladium fluctuates. Refer to the United States Mint’s Charges for Authorized Dealers.


Orders are made when customers are ready to transact immediately. The prices you get when ordering bullion coins and bars from us are an accurate reflection of the current market prices. Note that once you place an order, the prices are locked and are no longer subject to market conditions.

An order is placed when you finalized negotiations with our agents and an invoice is generated, not when the payment is made. Ordering and then bailing out or canceling after an invoice is generated makes BULLIONTRADING LLC incur losses. We incur losses because when you place an order, we consider the bullion coin or bar sold and will have hedged ourselves accordingly.

Disclaimer: To protect our company from losses, BULLIONTRADING LLC has implemented a Market Loss Policy.

Market Loss Policy Explained

An order starts when you finalize the deal with our agents, not when the payment is made. We generate an invoice immediately the deal is sealed either through our website or phone. We also count the bullion coin or bar as sold and will have hedged ourselves accordingly.

Customers who place orders, have invoices generated, and then cancel thereafter make us incur losses. To protect ourselves we have implemented a market loss policy. This means that you will incur penalties for ordering, having an invoice generated, and then bailing out. Once an order is placed, prices are locked and not subject to market conditions.

The moment you place an order an invoice is generated. If you cancel, and then gold prices decline you make us incur a loss. It is your responsibility to offset this loss if your order is canceled and your funds are returned. If this happens you will pay for the loss caused by a decline in the price of gold after a sale is made plus a cancellation fee of $35.00. This is our market loss policy.

To remain transparent and protect ourselves from risk we might require credit card information from every customer even if payment will be received through a different channel. We also will ask for immediate confirmation of the amount locked in. This gives us an avenue to compensate ourselves for losses in the event a customer places an order and then fails to pay.

However, if the price of bullion coins and bars stays the same, we usually don’t enforce our market loss policy because we don’t incur losses. If the price goes down we charge a market loss fee which is equal to the amount BULLIONTRADING LLC would have lost because of the unpaid order.


Bullion Trading LLC only accepts payments in the form of bank transfers, certified checks or personal checks. The method you use to pay us is determined by the number of bullion coins and bars you are willing to buy from us as follows:

  • Orders ranging from $1,000 to $5,500 should be paid via any option listed above and must be received within 2 business days from the time the order was made.
  • Orders ranging from $5,500.01 to $10,000 should be paid by bank wire, certified check, cashier’s check, money orders, or personal check, and must be received within 2 business days from the time the order was made.
  • Orders ranging from $10,000.01 to $25,000 should be paid by bank wire, certified check, and must be received within 2 business days from the time the order was placed.
  • Over $25,000.01 should be paid by bank wire and must be received within 1 business day from the time the order was placed.

If Using A Credit Card You Are Agreeing To The Following Terms:

  • I understand and agree that should I dispute the credit card charge through my credit card provider, I will have breached the contract as well as committed a credit card fraud.
  • I waive any charge-back rights. In the event of a dispute, and I request for a refund it must be made through the Bullion Trading LLC Arbitration Procedure described herein under Bullion Trading LLC.
  • Dispute resolution: I understand that all sales are final. There are NO EXCHANGES or REFUNDS.
  • I cannot receive a refund from Bullion Trading LLC, nor can I request the funds from my credit card company.
  • I also agree to waive any charge-back rights in the event of a dispute.


You agree that you have sufficient experience and knowledge to make informed decisions to purchase from and/or sell to BULLION TRADING LLC. You openly acknowledge that you are making all of your decisions in connection with purchases and/or sales. BULLION TRADING LLC is not making any decision on your behalf concerning purchases and sales.

You also openly acknowledge that you are subject to a variety of risks that are beyond the control of BULLION TRADING LLC. You openly acknowledge that BULLION TRADING LLC is not liable or responsible for the risks you incur while trading with us. Those risks include, without limitation, risks associated with the price volatility of bullion coins and bars. Market conditions or other disruptions such as technical problems may make it impossible for you to liquidate bullion coins and bars bought from us. You have the freedom to liquid the coins and bars at market prices acceptable to you.


All investments involve risk – bullion coins and bars are no exception. The value of bullion coins (e.g., American Eagles or Maple Leafs) is affected by many economic factors. The current market price of bullion coins and bars is determined by perceived scarcity and other factors. Some of these factors include quality, current demand, and general market sentiment.

The price of bullion coins and bars keeps on fluctuating and this means that they are not a suitable investment for everyone. Since all investments, including bullion coins and bars, can decline in value, you should make an informed decision. It is a good idea to have adequate cash reserves and disposable income before investing in bullion coins and bars.


You shall indemnify and absolve BULLION TRADING LLC and its affiliates, directors, officers, and shareholders collectively. You agree to compensate the indemnified parties for and against any costs, damages, expenses, liabilities, and obligations. They include without limitation to reasonable attorney fees that the Indemnified Parties may incur as a result of, or in connection with:

(a) Any breach of any representation or warranty made by you to BULLION TRADING LLC or,

(b) Failure to comply with these terms and conditions or the policies adopted by BULLION TRADING LLC.


You acknowledge that you are subject to the limitations of liability contained in these terms and conditions, the disclaimer, and other policies adopted by BULLION TRADING LLC.

If you suffer indirect, punitive, or speculative damages BULLION TRADING LLC is not liable to you. Any transaction between us and you pursuant to these terms and conditions, and any liability of BULLION TRADING LLC to you shall be limited to:

(a) The amount, if any, that you paid in such transaction or,

(b) $100 compensation. We are not, in any event, liable for any indirect, punitive, or speculative damages.


BULLION TRADING LLC has adopted a Privacy Policy that is included in these terms and conditions. Our privacy policy protects your identity and credit card information.

BULLION TRADING LLC privacy policies are found in the Disclaimer, Ordering Policy, and the protection of credit card information. These terms and conditions may be updated from time to time depending on the market forces and the legal landscape.


Upon any failure by you to comply with your obligations to BULLION TRADING LLC, the company shall pursue the rights and the remedies available to us. Either by law, through equity, or otherwise. It includes without limitation rights and remedies under these terms and conditions.

Breaching our rights may make BULLION TRADING LLC turn your account over to a collection agency, or a lawyer for collection. BULLION TRADING LLC will not fail in exercising any rights or pursuing any remedies in the case we suffer losses or damages.

Note: Failure by you to comply with these terms and conditions, may make BULLION TRADING LLC charge the credit card on which you have provided. This includes without limitation any and all market losses incurred by BULLION TRADING LLC, including cancellation fees, for ordering and then canceling at the last minute. You openly authorize BULLION TRADING LLC to charge your credit card for all losses caused by you violating our ordering policy.


BULLION TRADING LLC is an authorized dealer and a professional organization. We maintain a professional relationship with all our clients. We don’t enter into relationships such as agent-principal relationships, employee-employer relationships, franchisee-franchisor relationships, joint venture relationships, and partnership relationships with our clients.


You cannot forfeit these terms and conditions, your rights, or your obligations as they apply without the prior written consent from BULLION TRADING LLC. You may be granted permission to forfeit your rights or it may be withheld by BULLION TRADING LLC at its sole discretion. These terms and conditions shall be binding to all parties that trade with BULLION TRADING LLC.


If you violate these terms and conditions BULLION TRADING LLC will take action against you. It may include without limitation, turning your account over to a collection agency, or a lawyer for collection. You shall pay all of the costs and the expenses incurred by BULLION TRADING LLC, including without limitation to reasonable attorney’s fees.


BULLION TRADING LLC maintains professional relationships with clients. This is why we make sure that any grievances are resolved expeditiously. We agree that all disagreements and disputes with our clients should be resolved in accordance with the provisions below.

Because we value the relationship with our clients, we opt for arbitration or mediation as a channel for dispute resolution instead of going straight to state/federal courts. However, if arbitration or mediation fails, we may be forced to take legal action in state/federal courts in the State of New York.


These terms and conditions are governed by and interpreted in accordance with the laws of the State of New York. These terms and conditions do not take into consideration the possible violation of laws in other jurisdictions.




If BULLION TRADING LLC cannot perform any obligation hereunder as a result of any event that is beyond its control, the company shall be excused and shall not be liable for any damages as a result of, or in connection with, such delays, or such failures.


You shall sign and avail other documents, or take actions that assist BULLION TRADING LLC in enforcing the provisions of these terms and conditions.


Except as provided in these terms and conditions, all notices, and other communications to BULLION TRADING LLC shall be directed to it at 20 West 47th Street Lower Level #24, New York, NY 10036. All notices and other communications to you shall be sent by BULLION TRADING LLC, to the address that you provided to us at the time of your registration, or to the email address that you provided to us at the time of your registration.


BULLION TRADING LLC may record phone conversations between you and company agents or representatives. You consent to the recording of such phone conversations.


A decision or a failure by BULLION TRADING LLC to take action with respect to any non-compliance with these terms and conditions does not affect the ability of the company to enforce the terms and conditions with respect to other violations. Whether the violations are similar or dissimilar in nature.