What is GoldCore Secure Storage?
GoldCore Secure Storage is the safest way for UK clients to own physical bullion. It is allocated and segregated coin and bar storage in the most secure vaults, in the safest jurisdictions in the world.
Our clients store their bullion in London, Frankfurt, Zurich, Hong Kong and Singapore with internationally respected Loomis International and Brink’s, two of the world’s biggest and most respected precious metals vaulting operators.
At GoldCore we understand that the issues of safety and security are paramount when UK clients entrust their valuable precious metals to a storage provider, therefore we have partnered with the safest storage providers in the world.
Why choose GoldCore Secure Storage?
GoldCore Secure Storage offers secure, trusted and insured storage for both large and small investors. Confidentiality and privacy are at the core of what we do and we do not report transactions or holdings.
With clients in the UK and over 45 other countries worldwide; a strong UK and international media and online profile, we are growing steadily while always retaining the very high levels of service that our customers have come to expect from us.
Some of the other key reasons to deal with GoldCore are outlined below.
How safe is GoldCore Secure Storage?
GoldCore Secure Storage is extremely safe, if not the safest form of bullion ownership in the world. Since we store your precious metals in the vaults of the world’s leading precious metals storage companies, Loomis International and Brink’s, you can rest assured that your precious metals holdings are stored in some of the most secure commercial vaults available.
What makes GoldCore Secure Storage safer than online gold platforms, ETFs and other forms of gold ownership are what we have identified as the 7 key storage must haves:
- Ability to take delivery.
- Bullion authenticity.
- Gold bullion audits.
- Online storage inventory.
- Being able to visit and view holdings.
- Insurance of bullion at storage facilities.
- Guarantee of bailment.
Where is the bullion stored?
Our clients store their bullion in London, Frankfurt, Hong Kong and Singapore with internationally respected Loomis International and Brink’s, two of the world’s biggest and most respected precious metals vaulting operators.
Some of our partner vaulting facilities are located in some of the safest nations globally including Switzerland and Singapore. Additionally, most of GoldCore’s vaulting facilities are located outside the UK, which could help mitigate any potential future risk that clients’ bullion could be impacted by UK or indeed Eurozone capital controls.
International diversification is vital in these uncertain times.
Are the vaulting facilities insured?
Yes. The insurance of precious metals vaults and storage depositories is predominantly underwritten by specialist risk underwriters operating through the international insurance market. Both Loomis and Brink’s have comprehensive insurance policies.
All our precious metals storage facilities are covered by ‘all risk’ insurance underwritten by specialist ‘specie’. This insurance agreement, which is governed by English law, covers precious metals and other valuables against physical loss, damage or disappearance up to the value of $50 million for any one loss in any one location. The agreement can be viewed by GoldCore clients upon request.
How do I ship to GoldCore Secure Storage?
Bullion owners can ship bullion of which they have taken delivery, or have their metal that is currently stored elsewhere, shipped to be stored in GoldCore Secure Storage. Please contact our Bullion Services team to discuss the options available.
How to remove my holdings from GoldCore Secure Storage?
We can organise for your precious metals to be shipped to an address of your choice. We use a number of specialised logistics companies for these deliveries. If you wish, we can organise for your metal to be collected by yourself at the storage facility, given 10 days’ notice.
How much does GoldCore Secure Storage cost?
The cost of storing your bullion in GoldCore Secure Storage with Loomis or Brink’s is extremely competitive, starting at only 1% of the value of your holding per annum. This is based on smaller holdings and the rates fall significantly the larger the size of the holding.
Storage charges are calculated and accrued daily based on a daily valuation of the client’s precious metal holding, and then billed six months in arrears at the end of each April and October.
A daily billing calculation means that the storage fee is accurately applied to the changing value of the gold, and reflects the changing gold price over the billing period. This calculation approach prevents large movements in the gold price affecting the bi-annual storage fee, which could occur if the fee was calculated based on just one day’s price.
When UK clients buy physical bullion from GoldCore, the initial purchase price does not include a storage fee. Therefore the client defers payment on storage until the first invoice date, which could be up to six months later.
For example, if a GoldCore client buys gold in the first week of May, they only get billed for their first storage fee nearly six months later at the end of October, and so the client avoids an upfront storage fee at the time of purchase.
Please let us know the amount of troy ounces you would like stored at our facilities, and we will be more than happy to provide you with a quote.
Are the precious metals holdings in GoldCore Secure Storage physically audited?
GoldCore clients’ precious metal inventory held at storage facilities of Loomis and Brink’s is physically audited.
On an annual basis, GoldCore directs independent auditor Inspectorate International Limited to audit the precious metal inventory. This involves a physical inventory of all metal records and an audit of the weights of a sample.
Discrepancies, if found, are brought to the attention of GoldCore and the storage provider, investigated, and quickly corrected.
Essex based Inspectorate International is one of the supervisors of the London Bullion Market Association (LBMA) good delivery system and is an associate member of the LBMA.
Are the precious metals holdings in GoldCore Secure Storage audited daily?
All client precious metal (gold, silver, platinum and palladium) stored by GoldCore at storage facilities is audited via a tri-party auditing procedure.
On a daily basis, GoldCore Operations will reconcile client precious metal storage records against the vaulting records of the storage provider. If discrepancies are found in the records, these are fully investigated and quickly resolved.
What are the key benefits of using GoldCore Secure Storage?
1. Security: GoldCore Secure Storage uses industry-leading international vaulting facilities to store precious metals. Clients do not have to worry about the risks of storing bullion in their home or office. Nor do they have to worry about confiscation or nationalisation.
2. Cost savings: costs for allocated precious metals storage under the GoldCore Secure Storage programme are extremely competitive, starting at only 0.7% per annum and falling as the quantity of precious metals stored increases.
3. Direct ownership: bullion stored under GoldCore Secure Storage always remains the client’s property. GoldCore are simply the ‘bailee’, which means that clients have a full legal title and outright ownership of their bullion.
4. Live trading: GoldCore make a market in all major bullion coins and bars and clients can sell their bullion online or by phone. As the bullion is already stored by us, within the chain of integrity, we can offer you the live price there and then, rather than having to wait for the metal to be delivered to storage, graded, authenticated, etc. Trading is currently available only during Irish and UK business hours.
5. Audits: your bullion is physically audited on an annual basis and audited via reconciliations on a daily basis.
6. Insurance: your bullion is insured at the vaulting facility of your choice under specialist insurance policies.
7. Global locations: with GoldCore Secure Storage, UK clients have the ability to store bullion in some of the safest jurisdictions in the world, inside the UK and EU and outside the UK and EU and across three continents.