The Best Way To Purchase, Store And Sell Precious Metals
When you have decided to buy precious metals in physical form, questions arise about the purchase, storage, safety and sale:
- Due to the risk of theft or other access, storage at home or at a bank is not recommended.
- Store your metal assets only in a secure, independent and easily accessible location outside the banking system (ideally away from metropolitan areas, city centers and airports).
- Inquire about the security level of the warehouse. For example, the previously state-used bunker and vault facilities in the St. Gotthard massif in the Swiss Central Alps have the highest possible security level and are thus among the safest high-security vaulting facilities in the world, with only Fort Knox having the reputation of being even more secure.
- Ask whether the so-called six-eye principle is applied to the annual inventory of stored goods.
- Your precious metals should, at all times, not be available for lending and cannot be used as a pledge – nobody should be able to use the goods without your consent.
- Only if you are the 100% owner of the goods, profits can already be realized tax-free after one year (for example in Germany).
- Unlike gold, silver is subject to VAT – duty-free storage facilities offer the possibility of avoiding this tax, allowing clients to buy 19% more silver, which in turn may allow for price gains.
- The larger the bars offered, the more metal you should get for your money (around 10% price advantage with 15 kg of silver bars compared to small ounces).
- In order to eliminate the risk of counterfeiting, bars should conform to the highest quality standard of "Good Delivery" and should be from a recognized manufacturer (eg. Umicore). Make sure that at least you have the opportunity to personally visit and collect your property at any time.
- The storage company should also offer to deliver the goods to a place of your choice worldwide, when necessary, and to take care of the organizational process, such as customs clearance, value-insured and transport-insured logistics.
- The storage should be terminable for you at any time and with immediate effect. It would be advantageous if you can not only buy and store precious metals at low prices through the storage company, but if they also guarantee that the goods will be bought by them immediately when you want to sell within the duty-free storage facility so that you do not have to find a buyer yourself.
- Because once you have taken the goods out of the storage facility (in the case of silver, VAT is also due then), you have to take into account that the buyer may charge you high melting costs to ensure that the goods are genuine.
Important Check Points For The Safe And Efficient Storage Of Your Precious Metals
If you, as a client, want to build, optimize and/or secure your assets with Elementum, then you have the right product partner at your side. Check for yourself whether any other provider meets these requirements to your fullest satisfaction as we most certainly do:
Have You Prepared For The Future? Not Yet Or Not Quite Yet?
Then we would be pleased to get the opportunity to have a personal conversation with you to analyze the individual needs for your financial future. Write or call us to make an appointment as you wish:
Elementum Deutschland GmbH
Family Pravica
Poststrasse 7, 71063 Sindelfingen, Germany
Phone: +49 7031 700856
and/or
Family Luitz
Rosenweg 1, 69181 Leimen, Germany
Phone: +49 6224 98971120
Email: info@elementum.de
Elementum International AG is specialized exclusively in the storage of precious metals in Switzerland and accordingly does not offer any advice or trading in precious metals or other goods. Please contact the national Elementum companies for advice on precious metal trading and subsequent storage at the St. Gotthard high-security vaulting facility.