There are an infinite amount of analysts who have their own varying opinions on buying precious metals, and more importantly, how and where to store them.
Some through ignorance or agenda will swear by having their customers purchase gold through etf's or other paper securities, while others believe in the old axiom about property that says, if you don't hold it, you don't own it.
But with the world no longer being a place where it takes months versus hours to get from one location to another, and communications and access are just a Smartphone touchscreen away, the options available for you to buy gold in one place, and have it stored in another, is no longer a cumbersome process, and in many cases is the most prudent of measures.
Personally I believe in a five-fold diversification when it comes to precious metals and wealth protection.
1. Have some cash on hand, outside the banking system
2. Have some physical gold on hand
3. Have some physical silver on hand as part of an investment plan
4. Have the majority of your wealth outside of banks, and outside your local jurisdiction (offshore)
5. Look into mining stocks for the speculative portion of your portfolio, and don't be married to them forever
Today nearly all markets are manipulated to a lessor or greater degree, including equities, bonds, interest rates, real estate, currencies, etal... and the days of buy and hold ended following the Crash of 2007-08. And what is left are hard physical assets that are meant to be used as wealth protection and protection of your purchasing power from the profits and earnings you acquire through investments or salaries.
Yet when it comes to storing your wealth this can be one of the hardest choices to make, verify, and trust. And in a new White Paper published by Sprott Money Lmt. last week, the long time metals institution laid out the best and most secure areas to store precious metals in your offshore portfolio.
Holding that gold outside the banking system, and for some, outside one’s own country, are increasingly popular options. Canada, Switzerland, and four other countries have particularly attractive characteristics.
Those are the conclusions of a new whitepaper produced by Sprott Money Ltd.
Canada and Switzerland are obvious choices. The True North has fabulous natural resources, one of the world’s most stable banking systems and hasn’t been attacked in more than 200 years (the last two times the Americans tried to invade - during the Revolutionary War and the War of 1812 - things did not work out so well for them).
Switzerland, which ranked first on the Tax Justice Network’s Financial Secrecy Index in 2015, has fabulous attractions as an offshore investment locale. These include a long history of offering investors a safe, discreet place to store assets. That applies doubly for gold, which has a better reputation in Switzerland than in almost any other country.
The Sprott report also identifies Singapore, Germany, and the Cayman Islands as current good offshore storage jurisdictions.
The paper also acknowledges that many other international jurisdictions such as Dubai, Australia, and Hong Kong are regarded as good locales, but acknowledges that changing geopolitical risks requires constant monitoring of domestic and international investment environments. - Zerohedge
As with all investments, taking the time to research where to store your physical metals is just as important as taking the time to research a broker or investment house. Because in the end, the responsibility for our wealth lies with us, and not with those who we might commission to hold it.