Should You Go Offshore With Your Precious Metal Vaults?
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The entire reason for storing your gold in places other than your home, the bank, or even local depositories can be summed up in two words: risk mitigation.
Aside from being an ideal store of value, if there’s anything that history has taught us it’s that precious metals act as the perfect insurance against disastrous scenarios like civil wars, political unrest, financial crashes, and natural disasters.
Owing to its inherent value, precious metals are also prime targets for theft from an individual to a governmental scale.
So, what’s the best of way to secure your precious metals? Investing in a precious metal vault. According to Medium, investing in precious metals is an excellent way to diversify your portfolio and avert financial risks.
In this blog, we’ll share a couple of reasons why you should go offshore with your precious metal vaults.
Taking a Page Out of History
A simple history lesson is enough to inform the average reader regarding the dangers of possible gold confiscation.
Back in 1930, President Franklyn D. Roosevelt passed the executive order 6102 which made private gold ownership illegal. The order forbade the hoarding of gold coins, certificates, and bullions within the United States.
After the law was enacted, it became a federal crime to own gold and doing so was punishable with a $10,000 fine and 10 years in prison.
No corporation, association, organization, individual, or partnership could possess gold in any of its forms for any reason whatsoever.
The order commanded every U.S citizen to essentially hand over their gold to the rightful owner, the U.S Government.
That’s not all—citizens were handed paper dollars in exchange for the gold, $20.67 per ounce to be exact.
After all the gold was collected, President Franklyn D. Roosevelt devalued the dollar and set the price of gold to $35 an ounce. This meant that overnight, U.S citizens lost 50% of their savings.
There’s no guarantee that the same won’t happen again. However, by investing in a foreign precious metal vault, you’ll secure yourself against possible risks.
Safety against the Courts
Storing precious metal overseas introduces a level of anonymity not possible with storage services here in the United States.
Most reputable precious metal exchange companies offer storage facilities in stable countries like Switzerland, Australia, and Canada that safeguard assets against lawsuits back home.
Regardless of the type of litigation, home courts do not have jurisdiction beyond the borders and your precious metals are subject to local courts, laws, and financial rules.
Precious metal companies also choose to maintain storage vaults in countries or cities with extremely low crime rates.
Since they have a reputation to protect, it’s normal to expect vaults to house modern security features including seismic sensors, reinforced vault storage, biometric access, and 24/7/365 surveillance capabilities.
To maximize protecting of assets, reliable precious metal storage companies are associated with well-known insurance providers to protect your valuables in case of unforeseen circumstances.
Segregation of assets and routine auditing ensures that your precious metals or bullions are safeguarded at all times.
Protected Against Consequences of Social Unrest
Regardless of how calm things may seem right now, it often takes the smallest of sparks to ignite widespread social unrest.
Bank closures, food and water scarcity, electricity outage, and economic collapse become real possibilities.
With your most valuable assets in another country, you’ll have the financial backing needed to prepare against the worst.
In conclusion, it’s highly recommended to go offshore with your precious metal vaults.
They have more than 50 years of experience in precious metal storage and also help their clients safeguard and grow their investments!
Contact us today for more information.