# Where/how would you (theoretically) store physical gold?



## 3 hound (2 May 2022)

Speaking theoretically and no personal details what methods and devices eg safes do you use.

I recently told my bank manager I was considering buying some gold and asked about storing it at the bank. The manager almost laughed at the idea and said haven't heard of any banks providing that service in years. I had no idea it was a laughable proposal.

I contacted a gold seller in the capital city and was told by them a lot of people just bury it.

Both seem unlikely to me, hence the question.


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## tech/a (2 May 2022)

Safety deposit box both private and banks 
There is specific Gold Bullion Storage 
I think the WA Mint has a facility.
lots of private safe options
dig a hole and bury it well away from metal detectors.
Dont forget where it is best tell me so you have a backup plan !


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## 3 hound (2 May 2022)

tech/a said:


> Safety deposit box both private and banks
> There is specific Gold Bullion Storage
> I think the WA Mint has a facility.
> lots of private safe options
> ...



Safe deposit boxes are rare if not completely unavailable these days I am led to believe.

Will definately draw a map, scan it in and post it on this thread as an attachment. For security the attachment will have the file name "Private_NOBODY ELSE ALLOWED TO READ IT_ contains location of buried gold". 

Follow the trail on the map to where you see a big red X and dig there. I have also used a spray can and painted a big red X on the lawn so you won't mistake the spot.

Thanks bro.


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## tech/a (2 May 2022)

Gold & Silver Bullion Vault Storage - Gold Bullion Australia
					

High security vault services for gold and silver bullion. We offer Australia's leading fully insured secure storage service for bullion and precious metals.




					www.goldbullionaustralia.com.au


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## 3 hound (2 May 2022)

tech/a said:


> Gold & Silver Bullion Vault Storage - Gold Bullion Australia
> 
> 
> High security vault services for gold and silver bullion. We offer Australia's leading fully insured secure storage service for bullion and precious metals.
> ...



That's exactly what I was looking for.

Thanks.


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## divs4ever (2 May 2022)

3 hound said:


> Speaking theoretically and no personal details what methods and devices eg safes do you use.
> 
> I recently told my bank manager I was considering buying some gold and asked about storing it at the bank. The manager almost laughed at the idea and said haven't heard of any banks providing that service in years. I had no idea it was a laughable proposal.
> 
> ...



two stories i remember  .. one  was a holder  that got the kid/teenager to paint  the ingot  with enamel ( allegedly a modernist art student in the making ) and used it as a door stop  in the home office

 another  had a bar of dore  painted  a drab ( but durable ) paint job and  used it as  the paperweight in the study  , of course there are plenty of stories  about secret  cavities in the walls , floor , garage ,

 one granddad  allegedly buried his wealth  and the surviving sons and daughters   believed that so demolished the cottage  dug up the yard and fruit trees  and then sold the property as cleared land  , the fly in the plan was my MOTHER ( not a BLOOD relative ) was the executor of the estate  but was completely uninformed in all this ( including the executor part ) until the sale came to a screaming halt

 the property was in NZ and mum was holidaying in North Qld  , seems some lawyers incurred some hefty travel expenses  , i realized granddad never trusted his surviving  children ( apparently correctly ) so have never bothered to have contact with them since  ( 30 years back )  i probably should be upset  but mum's side of the family   left me stuff ( when i expected nothing at all )

 for those intent on burying it , there used to be survivalist guides that included  discreet  burials   of large metal objects  , i guess they would work for gold and silver as well

 now one thing i have noted in my social circle  , is NOBODY brags about their stash ( if they have one at all ) sure some have some fancy cars , designer watches , etc etc   but the stash is the SECRET back-up plan ( if they have one )


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## wayneL (4 May 2022)

In our new house I've discovered a couple of secret trap doors under the old carpet. The place is 80 years old so when I manage to get them open... Who knows I may have a windfall profit


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## over9k (4 May 2022)

If you buy the asx listed etf from the perth mint then they're storing it for you. 

You can also request physical delivery at any time. 

The perth mint is actually awesome


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## wayneL (4 May 2022)

over9k said:


> If you buy the asx listed etf from the perth mint then they're storing it for you.
> 
> You can also request physical delivery at any time.
> 
> The perth mint is actually awesome



Unfortunately owned by The West Australian government.


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## divs4ever (4 May 2022)

wayneL said:


> In our new house I've discovered a couple of secret trap doors under the old carpet. The place is 80 years old so when I manage to get them open... Who knows I may have a windfall profit



SHHHSH !!

 keep it secret ... good luck 

 remember check and think CAREFULLY  , you would be amazed at what was just well-loved 80 years back   , and almost priceless now 

 i know old lady who collects dolls ( and other old stuffed toys  )  even rather  worn and tattered can make your eyes water for the right  one


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## signalFollower (27 July 2022)

** not advice - my opinions only from my own usage **

I store both gold and silver digitally via The Perth Mint

personal holdings in the GoldPass app
SMSF holdings in a Depository Online account
and it's stored in vaults, seperately insured by The Perth Mint plus has the extra layer of being guaranteed under legislation by the WA government


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## tech/a (27 July 2022)

Being in the excavation field I have a couple of buried treasure stories

(1) While excavating a Mc Donald’s site old bottles were uncovered .The site was immediately closed and
an almost archeological dig started lasting 3 mths and I was told bringing in many 1000 s as the bottles were part of a dump pre 1900

(2) Mate of mine demolishing an old house in Glenelg in the late 80s Un covered an old and very worn rectangular metal Arrnot’s biscuit tin 
in side 15000 Pounds and he still has them ( various Notes ) Have no idea what it’s worth but believe it’s enough!

Im sure the demo guys have some great finds!


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## qldfrog (27 July 2022)

tech/a said:


> Being in the excavation field I have a couple of buried treasure stories
> 
> (1) While excavating a Mc Donald’s site old bottles were uncovered .The site was immediately closed and
> an almost archeological dig started lasting 3 mths and I was told bringing in many 1000 s as the bottles were part of a dump pre 1900
> ...



15000 Pounds was a huge amount of money then








						Vintage house ads show dramatic housing jump in Sydney since 1965
					

A Sydney real estate ad from 1965 shows the difference in housing prices over 50 years. The old-style newspaper shows ads for Maroubra, Ashfield, Caringbah and Beverly Hills.




					www.dailymail.co.uk
				



in 1965, just before the move to AUD, that would have bought you 2 brand new houses near Sydney..


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## divs4ever (27 July 2022)

qldfrog said:


> 15000 Pounds was a huge amount of money then
> 
> 
> 
> ...



 not just currency ..  all sorts of things ( in good and perfect condition ) can be a windfall  ,  ( toys still in boxes , old but new car parts  , etc etc etc )

 moral is ... don't rush to clear out gramps place  when you inherit


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## InsvestoBoy (28 July 2022)

over9k said:


> If you buy the asx listed etf from the perth mint then they're storing it for you.
> 
> You can also request physical delivery at any time.
> 
> The perth mint is actually awesome






signalFollower said:


> ** not advice - my opinions only from my own usage **
> 
> I store both gold and silver digitally via The Perth Mint
> 
> ...




Funny how people who think they are investing in gold  don't even bother to read the PDS for the things they invest in.

PMGOLD is not an ETF. It's a call option on 1/100th troy ounce of unallocated gold. 

Unallocated is the operative word. You do not own the gold. You own a unsecured obligation of Gold Corporation 


> While Gold Corporation will fully cover each PMG with
> physical gold held by Gold Corporation, *Holders of a PMG
> have no proprietary rights or beneficial interest in any such
> physical gold. As PMG is backed by unallocated gold*, there is
> ...




Exercise of the call option is entirely at the discretion of Gold Corporation.

Basically PMGOLD is a trading sardine on the gold price, not someone who holds gold for the purposes of holding a nonfinancial asset would ever utilise. You may as well trade the futures price and forget the bad spreads, high fees and high commissions on the ASX.

As to the original question, banks do still offer safety deposit boxes, and many other entities offer them in major cities as well, just google it. "Commonwealth Bank safe deposit box", etc.


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## signalFollower (28 July 2022)

InsvestoBoy said:


> Funny how people who think they are investing in gold  don't even bother to read the PDS for the things they invest in.
> 
> PMGOLD is not an ETF. It's a call option on 1/100th troy ounce of unallocated gold.
> 
> ...




each to their own, and no mention of the legislative guarantee by the Treasurer ?


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## qldfrog (28 July 2022)

InsvestoBoy said:


> As to the original question, banks do still offer safety deposit boxes, and many other entities offer them in major cities as well, just google it. "Commonwealth Bank safe deposit box", etc.



Very hard to get one, I have one in Brisbane, none available on the sunshine coast, or it is just an envelope to store a few documents...


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## InsvestoBoy (28 July 2022)

signalFollower said:


> each to their own, and no mention of the legislative guarantee by the Treasurer ?




I literally quoted the PDS. You are an unsecured creditor of the WA Government. If you want to bet on the price of gold, PMGOLD has got to be 4th or 5th down the list of products that meet the need. Wide spreads, high fees and high commissions.


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## InsvestoBoy (28 July 2022)

qldfrog said:


> Very hard to get one, I have one in Brisbane, none available on the sunshine coast, or it is just an envelope to store a few documents...




Just google "safety deposit box brisbane" to see that is not true.


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## signalFollower (28 July 2022)

InsvestoBoy said:


> I literally quoted the PDS. You are an unsecured creditor of the WA Government. If you want to bet on the price of gold, PMGOLD has got to be 4th or 5th down the list of products that meet the need. Wide spreads, high fees and high commissions.



I simply said you didn't reference the over-arching Gold Corporation Act (WA) either




to my understanding this level of government guarantee over and beyond that of a bullion broker's PDS is unique in themarket place


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## qldfrog (28 July 2022)

InsvestoBoy said:


> Just google "safety deposit box brisbane" to see that is not true.



What about trying to get one , you know, in real world?.cause i tried that here on the sunny coast and had to keep my vault box in Brisbane , and am quite happy i started that decades ago


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## rcw1 (30 August 2022)

Good evening
Been reported in New Corp media outlets that AUSTRAC orders anti-money laundering administrators be appointed to the Perth Mint amid "compliance concerns".

Gold Corporation, which trades as the Perth Mint and is regulated under AUSTRAC's powers, must now work with an administrator to prepare a report within 180 days detailing its response to the probe.  The administrator will be required to review Perth Mint's anti money laundering and counter terrorism financing program and ensure it complies processes and procedures to identify and manage risks.

Holding gold purchased from the Perth Mint.

Kind regards
rcw1


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## divs4ever (31 August 2022)

rcw1 said:


> Good evening
> Been reported in New Corp media outlets that AUSTRAC orders anti-money laundering administrators be appointed to the Perth Mint amid "compliance concerns".
> 
> Gold Corporation, which trades as the Perth Mint and is regulated under AUSTRAC's powers, must now work with an administrator to prepare a report within 180 days detailing its response to the probe.  The administrator will be required to review Perth Mint's anti money laundering and counter terrorism financing program and ensure it complies processes and procedures to identify and manage risks.
> ...



 BUT BUT , this week's gold bug  could be next week's terrorist   ( or currency saboteur )

 vaccines aren't vaccines , recessions aren't recessions , CPI rises aren't inflation


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## divs4ever (31 August 2022)

qldfrog said:


> What about trying to get one , you know, in real world?.cause i tried that here on the sunny coast and had to keep my vault box in Brisbane , and am quite happy i started that decades ago



 have you tried the right Cash Converters   some of those are now in former major bank branches  (  there is half a chance there is more than just a vault left  in them )


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## againsthegrain (31 August 2022)

divs4ever said:


> BUT BUT , this week's gold bug  could be next week's terrorist   ( or currency saboteur )
> 
> vaccines aren't vaccines , recessions aren't recessions , CPI rises aren't inflation




Why would you use cash or buy physical gold? sounds dodgy yeah you must be a bikie all the good kids who have nothing to hide just tap their cards and use digital currency.  No such thing as a bank run


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## qldfrog (31 August 2022)

Slowly they are creeping...


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## divs4ever (31 August 2022)

againsthegrain said:


> Why would you use cash or buy physical gold? sounds dodgy yeah you must be a bikie all the good kids who have nothing to hide just tap their cards and use digital currency.  No such thing as a bank run



 for one i don't have plastic  ,

 the same  mantra s is going around on cryptos  

 if you don't hold the keys , you don't own the coins 

 bank deposits are unsecured loans  ( assuming the government deposit guarantee  is inadequate   , and the BIS is pushing for bank bail-ins in the event of a bank collapse 

  if cash is a crime the government is guilty of facilitating those crimes ( for over 100 years )

and the 'nothing to hide'  crap doesn't wash either ,  the government is unilaterally ( and at all hours of the night ) inventing more crimes and laws and fines  , at whim to fit agendas ( hoping the High Court is too bogged down to hear challenges 

 BTW  about 20 years back  some ( white hat ) hackers were discussing the many ways to skim and clone  plastic  ( and how to prevent that happening to them )

 tap'n'go' just makes fake plastic easier ( but they won't tell you that )


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## wayneL (2 September 2022)

InsvestoBoy said:


> Funny how people who think they are investing in gold  don't even bother to read the PDS for the things they invest in.
> 
> PMGOLD is not an ETF. It's a call option on 1/100th troy ounce of unallocated gold.
> 
> ...



Good points, but futures do have cost of carry nibbling away at your capital.

Great for trading/hedging, not so good for digitally plonking gold in the bottom drawer.


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## InsvestoBoy (2 September 2022)

wayneL said:


> Good points, but futures do have cost of carry nibbling away at your capital.
> 
> Great for trading/hedging, not so good for digitally plonking gold in the bottom drawer.




The point I am making is you are fooling yourself if you think PMGOLD is anything but a trading device or you just never bothered to read the PDS.

So comparing PMGOLD to other trading devices on the price of gold, there is absolutely no competition between an ASX listed complex derivative like PMGOLD vs GC on the COMEX. Just compare spreads, commissions, execution transparency, options, etc. Don't forget the nice fees Perth Mint charge to "house" your unallocated gold  when you compare GC futures roll yield (which can largely be mitigated by anyone with a spreadsheet to do roll optimal allocation on the curve).

There are allocated digital plonkers with a good PDS, like PHYS on the NYSE run by the nutjobs at Sprott. I don't really favour ASX:GOLD all things considered but at least it's actually allocated gold. Which should be obvious is the only thing that matters if you are buying gold for the not-dumb reasons to buy gold.

My personal preference is for the majority of the allocation to be in physical unencumbered gold in a safety deposit box with insurance, at scale the cost is marginally less than PHYS and one can use the box to hold other stuff like documents, backups, etc. I started buying some PHYS during lockdowns when I couldn't go anywhere and kept it around (<5% of total allocation) as it has proven useful for liquidity when rebalancing the overall portfolio.


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## InsvestoBoy (2 September 2022)

You can even often buy PHYS at less than NAV. Unheard of to buy physical allocated gold at less than spot in the gold world!


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## wayneL (2 September 2022)

InsvestoBoy said:


> The point I am making is you are fooling yourself if you think PMGOLD is anything but a trading device or you just never bothered to read the PDS.
> 
> So comparing PMGOLD to other trading devices on the price of gold, there is absolutely no competition between an ASX listed complex derivative like PMGOLD vs GC on the COMEX. Just compare spreads, commissions, execution transparency, options, etc. Don't forget the nice fees Perth Mint charge to "house" your unallocated gold  when you compare GC futures roll yield (which can largely be mitigated by anyone with a spreadsheet to do roll optimal allocation on the curve).
> 
> ...



I don't disagree with any of that, as indicated above, all good points.


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## rcw1 (3 September 2022)

3 hound said:


> Speaking theoretically and no personal details what methods and devices eg safes do you use.
> 
> I recently told my bank manager I was considering buying some gold and asked about storing it at the bank. The manager almost laughed at the idea and said haven't heard of any banks providing that service in years. I had no idea it was a laughable proposal.
> 
> ...



Good morning 3 hound,
Yellow in the safe.  Only issue is pick up - when visit gold merchant (mostly in Brisvagus) buy, leave in hotel safe.  Retrieve upon check out and hold on person till reach home. Then in the safe.
Visitation not just for purposes to buy gold.  Use the trip for other business related purposes conjointly.  Certainly when in Brisvagus if the timing is right, will buy or sell gold.

Kind regards
rcw1


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