Category Archives: North America

Nomad Capitalist’s 5 Best Countries For Offshore Gold Storage

Research related to Monday’s post about precious metals storage in Singapore led me to a piece published last fall by Andrew Henderson over on the Nomad Capitalist website. I’ve mentioned Andrew and his company before on the blog, but for those readers not familiar with them, Henderson is the founder and managing partner of Hong Kong-headquartered Nomad Capitalist, billed as the “world’s leading offshore consulting firm.”

Back on September 28, 2016, Henderson wrote in “The five best countries for offshore gold storage”:

The world is a big place and not every country is made alike, especially when it comes to offshore gold storage. The following are our top picks here at Nomad Capitalist for best countries for offshore gold storage

(Editor’s note: Bold added for emphasis)

Their top picks? In alphabetical order:

-Austria
-Cayman Islands
-New Zealand
-Singapore
-Switzerland

Henderson proceeded to explain why these countries made the “top 5” for offshore gold storage before ultimately selecting a single nation for the “number one spot on this list.”

Another insightful read from Andrew Henderson, which you can view in its entirety here on the Nomad Capitalist website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s notes: The mention of entities marketing themselves as consulting businesses should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Storing Precious Metals Focus Of Numismatic News Article

Yesterday, I pointed out a new “how-to” video entitled “How To Store Silver Bars And Coins At Home” by the folks over at GoldSilver.com, a global leader in gold and silver sales and one of the world’s most highly regarded investment education companies since 2005.

This comes a few weeks after a different piece about precious metals storage appeared on the website of Numismatic News. Back on March 9, Pat Heller penned an article entitled “Hard assets make soft targets?” in which he discussed the advantages/disadvantages of keeping precious metals in bank safe deposit boxes (a number of the “drawbacks” don’t apply to their private, non-bank brethren) and other “storage alternatives” including:

-“Hidden storage on your property”
-“Storage in safe or strong box on your property”
-“Precious metals vault storage”

It’s an interesting read, which you can view in its entirety over on the Numismatic News site here if you didn’t catch it a couple of weeks ago.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to taking any action- financial or otherwise- based on information found in this weblog. If this recommendation is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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GoldSilver.com Video: ‘How To Store Silver Bars And Coins At Home’

Long-time readers of Offshore Safe Deposit Boxes might remember an April 22, 2014, blog post mentioning Mike Maloney of GoldSilver.com, a global leader in gold and silver sales and one of the world’s most highly regarded investment education companies since 2005. The founder and owner had just come out with a video in which he warned precious metals are not safe being stored in a bank safe deposit box.

These days, Maloney and gang are out with a new “how-to” video which readers might be interested in viewing. In “How To Store Silver Bars And Coins At Home,” senior precious metals analyst Jeff Clark and Mike Maloney tackle the following questions:

1. “So how do we store our silver bullion both efficiently and safely?”
2. “And should it be stored at home anyway?”

Storing silver in bank safe deposit boxes and at private, non-bank vaults is also addressed. From the video:

Should We Use a Bank Safe Deposit Box?

Easy, simple, and relatively inexpensive- those are the advantages to using a safe deposit box at your local bank. But, consider the drawbacks:

-Your access is restricted. You can only get to the bullion during regular banking hours. No evening, weekend, or holiday access. In fact, during 9/11, some banks were closed for a period of time.
-No insurance against robbery or disaster. Think about the customers whose safe deposit boxes were washed away with the tsunami in Japan in 2011.
-Lack of privacy. If the government or an aggressive attorney comes after you, they’ll thank you for the generous clue you provided them of where some of your assets are stored.
-Also, silver takes up so much space that you’d likely be forced to pay for a larger box. And it might not be an option at all. A monster box of silver is too big for most bank safe deposit boxes.

Remember, one reason we own physical bullion is to protect against the banking system. If you go this route, be aware of the risks and only place a small portion of your metal there.

What About a Professional, Third Party Vaulting Service?

Once your stash starts to grow, I recommend you consider professional storage. Your risk grows as you accumulate more metal. You don’t want to be wiped out if something happened to your stash at home.

The keys to professional storage are that your metal be held:

1. Outside the banking system
2. Fully segregated or allocated in your name
3. Fully insured, and
4. Easy online access…


“How To Store Silver Bars & Coins At Home- Mike Maloney”
(Bank/private vault discussion begins at 11:36)
YouTube Video

A nicely-done production by Clark and Maloney.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: The mention of entities marketing themselves as precious metals dealers/educators should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to taking any action- financial or otherwise- based on information found in this weblog. If this recommendation is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Maloney’s book on gold/silver investing…

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Bloomberg: Laurentian Bank Of Canada Will No Longer Offer Safe Deposit Boxes

Regular readers of Offshore Safe Deposit Boxes are aware that in certain parts of the world, financial institutions are getting out of the safe deposit box business.

I’ve mentioned Ireland, Singapore, the United States, and the United Kingdom in the past.

Now, that trend looks to be coming to Canada. Doug Alexander reported on the Bloomberg website yesterday about 170-year-old, 144-branch Laurentian Bank of Canada and its plan “to transform the Quebec lender from its traditional banking roots.” Alexander penned after a March 24 interview with Chief Executive Officer Francois Desjardins:

Laurentian’s strategy involves pruning its Quebec branch network by about a third to 100 outlets by year-end, with 23 of those locations being “advice-only branches” with automated teller machines but no counter transactions. The bank is merging 33 outlets in April and another seven in June, with the rest completed by December to combat what Desjardins calls an “obsolete” banking model. Safety deposit boxes, travelers checks and passbooks will no longer be offered

(Editor’s note: Bold added for emphasis)

An interesting article (and accompanying video) which you can read in its entirety here on the Bloomberg website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

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CNBC’s Jim Cramer On Storing Gold: “I Want You To Put It In A Safety Deposit Box’

Jim Cramer, co-anchor of CNBC’s Squawk on the Street and host of Mad Money, offered up his thoughts yesterday about acquiring and storing physical gold. From Wednesday’s installment of Mad Money:

CALLER: I got a quick and easy question for you. Everybody knows that we’re going to go into inflation. So how do you feel about investing or diversifying in actual physical metals like gold or silver?
CRAMER: I absolutely love the idea. I think if you put up to ten percent of your money in actual physical gold is great. I don’t want you putting that gold in your house. I don’t want you putting it in your backyard. I want you to put it in a safety deposit box. Make sure, make sure that it’s not in your house. But I do agree. I like it.

(Editor’s note: Bold added for emphasis)


“Cramer’s DIY guide to spotting high-quality stocks”
(Gold discussion starts at 10:59)
CNBC Video

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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