The term "Gold Depot" is simply a modern neologistic term for a service that has existed since the 1980s, known as "vaulted gold" or "allocated gold." Initially, this gold was offered only to high-net-worth clients by banks. Later, Japanese precious metal dealers introduced their own specific service called the "Gold Depot" or "Gold Savings Plan." This service allows individuals to acquire ownership of precious metals without physically possessing them, as the service provider takes care of the purchase, storage, and insurance. However, customers must be offered at least one option for delivery or personal pickup.
The specific services and offerings included in a Gold Depot are not regulated. Therefore, the conditions, prices, and possibilities vary among providers and Gold Depots and must be compared beforehand.
The first and foremost consideration is the individual's objective. Do they want to achieve a specific savings goal or simply set aside savings for future security, without having to worry about inflation or politics? Do they want to directly acquire physical gold bars or opt for fractional ownership? Or do they prefer gold-backed securities?
Once the objective is clear, the various services can be compared, as everyone has different preferences and plans for accumulating precious metals and handling the stored gold. However, the option for personal delivery or shipment must be included in the product, as required by law. Shipping often incurs higher costs because regular mail does not allow shipment of high-value precious metals, and an insured courier service can be expensive in comparison. Apart from delivery or pickup, some companies may also offer to repurchase the accumulated gold at the current market price.
Another consideration is the fees and costs, primarily the prices of the respective bars, but also ongoing expenses such as service or storage fees. It should be noted that gold bars cannot be purchased at the pure gold price, as the production costs are added to the market value. Only gold-backed securities can be purchased at market value, as no physical bar is traded, but rather a security that certifies the buyer's claim to the listed amount of gold.
Some providers charge a percentage or permille of the depot value as an annual storage fee, while others demand certain amounts solely for opening a Gold Depot. This should be carefully calculated to find the most affordable provider since gold does not generate returns; its value is maintained over time, and as little as possible should be deducted from the depot value. Additional costs typically arise for withdrawal or shipment, as effort is required to retrieve gold from storage or to commission a service provider to send the gold insured and verify the recipient's identity.
Finally, customer service can also be a deciding factor, as trust, security, and accessibility are essential for a long-term precautionary measure. It is advisable to compare different and reputable portals for customer experiences to get an impression of the service provider. The best approach is to form one's own opinion and seek advice from the service provider over the phone or in person. This will give a clear indication of the speed and competence of customer advisors and the level of support provided for future inquiries or even issues. Now, nothing stands in the way of opening your own Gold Depot.
At "Meine Schatzkammer," we have decided to offer our own Gold Depot under the best conditions, aiming for maximum flexibility and customer-happiness.
The Gold Depot from "Meine Schatzkammer" can be created online in no time by providing personal information, and once the customer confirms the opening with a mouse click, the Gold Depot is ready for use. It can now be accumulated flexibly in terms of the amount and frequency of deposits, according to the customer's preferences, giving them influence over the amount of gold purchased.
A gold purchase always takes place on the first working day after the 15th of each month. The available balance is used to purchase the largest possible denomination until it is no longer sufficient for the smallest unit of one gram. The acquired gold is credited to the depot in grams, and the remaining balance is either used for the next purchase or can be transferred back to the customer's account upon request.
The acquired gold is stored by "Meine Schatzkammer" for the customer free of charge until they decide how to proceed. Customers of the "Meine Schatzkammer" Gold Depot have three options:
The first option is personal pickup, where customers can collect their gold free of charge and in person at our branch after undergoing identity verification. The second option is having the gold shipped directly to the customer's home. This incurs a fee for the insured courier service, and identity verification is carried out before delivery. The third option is selling the gold back to "Meine Schatzkammer." For this, the customer simply needs to create a purchase request within the Gold Depot, specifying the desired quantity of gold to be sold. "Meine Schatzkammer" will then send a non-binding but time-limited purchase offer. If accepted, the gold quantity will be debited from the depot, and the money will be transferred to the customer's chosen account.
If you would like to open a free Gold Depot with "Meine Schatzkammer," you can do so here: https://www.schatzkammer.at/golddepot