GoldCore Secure Storage offers the most cost effective and securest gold and silver bullion storage programme in the precious metals industry. For first time buyers of gold and silver bullion or those looking to select a new storage partner, there are a number of key benefits that differentiate GoldCore Secure Storage:
– Allocated and Segregated Coins and Bars
– Direct Ownership
– Safest Locations Globally
– Highly Competitive Storage
– Full Audits
– Transparency and Accessibility
Over the past 10 years GoldCore has assisted clients in the UK with the purchase and storage of allocated gold, silver, platinum and palladium bullion. In that time we have built a global network of storage, logistics and insurance partners that work with us in safeguarding the gold and silver bullion stored on behalf of our clients.
We have chosen to develop a global secure storage solution since international storage should be seen as part of a prudent geopolitical diversification strategy. While GoldCore offers delivery and secure storage of precious metals in the UK, most of GoldCore’s vaulting facilities are located internationally, which mitigates any potential future risk that clients’ bullion could be impacted by confiscation or other risks.
Allocated and Segregated Coins and Bars
Our strategic partnerships and logistical expertise allow our clients to have fully insured, segregated and allocated bullion storage in the safest vaults in the safest jurisdictions in the world.
The coins and bars you purchase are segregated and held solely in the name of the purchaser. The original coins and bars purchased are always stored separately and are never swapped or commingled with other account holders bullion.
Client bullion is stored in private, non-bank vaults and bullion assets remain the private property of clients at all times. Bullion stored is held outside the banking system and not a financial asset of the storage provider or GoldCore. There is no counterparty risk since all bullion coins and bars are owned by the customer and are not part of a bank’s or storage provider’s balance sheet.
Direct ownership of bullion means owning actual individual bullion coins and/or bars either in your possession or in allocated, segregated and fully insured accounts that you can access easily and quickly take delivery of your bullion from.
There is no counterparty risk with direct ownership since the bullion is the legal property of you the investor, and should the provider go out of business this does not impact your ownership of, or your access to your bullion.
By having direct ownership of physical coins and bars you can sell your bullion back to any number of international bullion dealers. This reduces your dependence on one single provider and also means that you are not dependent on an online digital bullion platform where the gold has to be sold back within that platform.
Safest Locations Globally
The most important decision an UK buyer faces is the actual decision to invest in physical bullion. The second most important decision is how to store their bullion. For the sake of prudence, investors should diversify across storage locations to minimise event risks such as theft, government confiscation, terrorism, war and natural disasters that might affect one location.
This may mean keeping a small quantity of gold at home or in a readily accessible location, while storing the majority of your bullion holding in a secure international precious metals storage facility or vault, preferably in a financially stable and politically stable jurisdiction.
GoldCore has partnered with Loomis and Brink’s, world leaders in precious metals storage solutions, to provide fully insured storage services to our UK clients across a number of international jurisdictions including London, Switzerland, Singapore and Hong Kong.
Our partner vaulting facilities are located in some of the safest locations globally including Switzerland, Hong Kong and Singapore. The economies of these countries are strong, they are politically stable and independent, and they have built up global reputations for discretion, confidentiality and financial property rights.
Competitive Storage Rates
GoldCore Secure Storage annual storage fees start at 1% per annum and storage fees of less than 1% are available for larger values of gold and silver bullion stored:
Gold Storage Rates
0.79% $100,000 – $250,000
0.69% $250,000 – $500,000
0.59% $500,000 – $750,000
Silver Storage Rates
0.95% $100,000 – $250,000
0.85% $250,000 – $750,000
Storage charges are calculated and accrued daily based on a daily valuation of the client’s bullion holdings, and then billed six months in arrears at the end of each April and October.
A daily billing calculation means that the storage fee is accurately applied to the changing value of the precious metals, and reflects the changing gold price over the billing period. This calculation approach prevents large movements in the gold price affecting the bi-annual storage fee, which could occur if the fee was calculated based on just one day’s price.
When a UK client buys bullion coins and bars from GoldCore, the initial purchase price does not include a storage fee. Therefore the client defers payment on storage until the first invoice date, which could be up to six months later. For example, if a client buys bullion in the first week of May, they only get billed for their first storage fee nearly six months later at the end of October, and so (the client) avoids an upfront storage fee at the time of purchase.
All client precious metal (gold, silver, platinum and palladium) stored by GoldCore at storage facilities in Zurich, Hong Kong, Singapore and London, is audited via a tri-party auditing procedure. On a daily basis, GoldCore Operations will reconcile client precious metal storage records against the vaulting facility records of the storage provider. If discrepancies are found in the records, these are fully investigated and quickly resolved.
On an annual basis, GoldCore directs independent auditor Inspectorate International Limited to audit GoldCore client precious metal inventory stored at storage facilities. This involves a physical inventory of all metal records and an audit of the weights of a sample of the precious metals holdings. Discrepancies, if found, are brought to the attention of GoldCore and the storage provider and investigated and quickly corrected.
Transparency and Accessibility
GoldCore Secure Storage clients receive custody certificates documenting exact bullion holdings and breakdowns including serial numbers of individual bars. All physical vault storage holdings are absolutely secure and yet with a phone call can be liquidated, transported to another jurisdiction or taken delivery of.
GoldCore does not have any reporting requirements for client bullion buying or selling transactions or indeed precious metals holdings to any authorities. GoldCore is a company registered in Ireland and gold is not regulated as an asset class in Ireland. Only GoldCore is aware of client identities and holdings held in GoldCore Secure Storage.
Clients with GoldCore Secure Storage accounts enjoy full transparency and accessibility over their holdings. Customers using Loomis’s storage vaults in Zurich, Hong Kong or London, and Brink’s facilities in Singapore, can log on to the respective storage operators’ websites and view their holdings in an inventory reporting application.
With a phone call or signed communication, clients can visit and inspect their holdings or instruct GoldCore to move their bullion to another jurisdiction or deliver to a location of their choice.