Bank vault safety

Whilst bullionmark is not against the use of bank vaults or bank safety deposit boxes for gold and silver storage you should be aware of some of the risks.

1. Bank failure - systemic risk in the banking system is high and you need to consider how your gold can be removed should your bank close.

2. Government access - it is little known but governments in most countries have the right to access safety deposit box contents

3. Confiscation - In the 1930's the US government forced banks to open safety deposit boxes and confiscated gold contents.

4. Private vaults - still have some of the government access issues but the process is much more difficult and may give you time to remove the contents prior to a warrant. depending on your relationship, you may even get an early warning from your provider. Most of the wealthiest families in the world use private vaulting solutions becuase they are outside the banking system. In most cases private vault techology and security rating is far superior to a bank. However the private service is more expensive.

Gold and silver are the only assets that are no one elses liability and sit completely outside the financial system. Think very carefully before you put your bedrock asset in the hands of those who have traditionally been the yellow metals worst enemy.