Gold Broker is a precious metals dealer that focuses on one thing: helping people freely own precious metals. To achieve this goal, they have vaults in multiple countries to help people store their wealth in tax-advantaged areas. But are they actually as great as they seem to be? Is there anything you should know before getting started?
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About Gold Broker
Gold Broker was started under the premise that people should be able to store their precious metals in offshore accounts, without having an intermediary who controls the funds. It's extremely difficult to find overseas storage vaults that don't require you to have an account custodian.
So Gold Broker stepped in. The intent was to give people complete financial freedom with regards to their account holdings. When you purchase precious metals, you fully own those metals. They no longer belong to Gold Broker. That means that you retain ownership even if something were to happen to the Gold Broker company.
Once you buy the precious metals, you will be issued a certificate of ownership. This shows that you own the specific bars with the appended serial number. It is a legitimate certificate that can be used to defend your ownership in a court of law.
As Gold Broker is all about financial freedom, the company is based out of Malta. Malta is a small country in the Mediterranean Sea that is known for being a tax haven. When you register your precious metals, they are stored entirely outside of any national or international bank. You're completely covered from seizure risks and bank downfalls.
You can actually go to the vault and look at your gold in person. It's not even necessary to have another employee with you to supervise. That's because of how airtight the security is. Your physical investments can also be removed from the vault whenever you want, and you don't have to pay any fees for withdrawal.
It's common for gold storage companies to charge withdrawal and transaction fees. Sometimes they even charge deposit fees! That's not the case here.
Storage Options
The company's storage options are its most major selling point. Most people who work with Gold Broker do so because they want their assets to be protected offshore. According to the website, precious metals are an investment that are meant to protect you. But in order to actually utilize this protection, you have to keep them safe.
With the Gold Broker setup, no one has access to your account but you. You don't have to worry about working with or trusting any intermediary. You don't have to worry about reporting your holdings or being subject to government seizure.
Gold Broker is partnered with a storage company called Malca-Amit. This company works completely outside any centralized bank. It has been in the business since 1963, boasting nearly 60 years of secure storage. The company's main clients are high net worth people and financial institutions.
If you're in the US and want to keep your precious metals a little closer to home, there's a New York vault. That said, there are many other US-based storage companies that might have a more reasonable fee schedule.
Another option is to keep your precious metals in Toronto, Canada. That way, they're still on the same continent. But you have the security of the international border if you're ever worried about having your assets seized.
The final two vaults are located in Switzerland and Singapore. These are famously stable, tax neutral countries. Much of their economy comes from the high net worth individuals who store their assets within the borders. People who use these vaults tend to want their wealth to be hidden from prying eyes.
There is a wide range of different security measures in place. For example, the precious metals are stored in vaults that are monitored 24/7. The entire place has physical and electronic surveillance. There are multiple staff members who guard the vaults. In addition, the buildings all have fire and climate control systems as a way of preventing potential disaster.