We Don't Offer Storage or Accounts
Although we have considered the idea many times over the past 40 years, we have always decided not to offer long term storage facilities for investment gold, whether in the form of unallocated account gold, allocated accounts, or physical storage of gold coins or bars.
We are happy, though, to provide short term storage for purchasers who merely wish to dely delivery for short periods, perhaps because they expect to be away on holiday.

Why Don't We Offer Long Term Storage or Gold Accounts

• We feel that our rôle is to provide a competitive dealing facility for gold coins and gold bars. It has been one of our specialities for about 40 years. We work very hard to keep up with the growing demand for our services. By keeping our business as simple as possible, we believe we can remain the UK's leading dealer in gold coins.
• Offering accounts and storage would increase our administrative workload.
• If we were responsible for storing millions of pounds worth of clients gold, we would need to invest in extra security, and we would also become a more attractive target for criminals. This would probably increase the cost of our own insurance cover.
• One of the underlying reasons for holding gold as an investment, is an a form of ultimate insurance. If world war broke out, major banks collapsed, or major currencies collapsed, it would be desirable to have your gold ready to hand. It's no good being deposited in a bank if the bank goes bust.
• In the 1960's, when we first thought about offering gold storage or accounts, we would probably have sub-contracted the storage to Johnson Matthey Bankers Limited. Although they were a were a blue chip public company, a member of the exclusive London gold pool, and a substantial, long established and reputable merchant bank, they caused a banking crisis in 1984, when they would have gone bust, if the Bank of England had not launched its famous "lifeboat". If we had got large amounts of customers' gold in storage, then JM may well have taken us with them. With hindsight, we are glad we did not offer storage then, and are happy if it makes us cautious now.
• Matthey were, as we say, a reputable bank. New schemes have recently been launched offering gold accounts. We have not had the time or inclination to research the people behind these schemes, but we would not be surprised if holders of these accounts came to grief. We would strongly suggest checking what guarantees exist in such schemes, and who the people are behind them.
• We have doubled our sales every year for the past 4 years, and are kept busy enough trying to keep up with demand, without the extra work and responsibility which accounts and storage would create.

Storing Your Gold Securely