Last updated on March 31st, 2021Home / Precious Metals /
Which Depositories To Store Gold In Canada?
Gold is one of the most valuable minerals, and corporates and business owners love investing in it. This is unlike stocks or bonds, which are majorly affected by inflation.
Gold and other precious metals are now a favorite for many investors since their value is not unaffected by the current economy. And looking at the top investors, they have made higher annual average returns for their precious commodities.
Also, in the US, people invest gold in their retirement account as Gold IRA and must keep their assets in an IRS-approved depository. This way they can secure their lifetime earnings in a place safe and sound.
There are many gold depositories in the US but today we will talk particularly about the depositories that Canadians can use to store their assets.
Gold Depositories Canada?
Canada is also one of the best countries for investing in gold because it has many resources and mining companies. Additionally, it’s very tolerant to the gold trade, and unlike US, there is no previous confiscation of gold.
Also, the country has no special requirements or reporting you need to make before you store the precious metals.
Storing your gold in a depository is the best way to ensure your precious metals' safety and privacy. Additionally, you can store the valuables in different countries and get different values over time.
Besides, if you store your metals in some countries, you will enjoy your retirement benefits. It's also important to opt for the depositories which meet strict security and other criteria. this will enable you to be in peace of mind knowing your precious metals are in safe hands.
1. International Depository Services (IDS) of Canada
If you are looking for the best gold depository in Canada, then you will never go wrong with the International Depository Services (IDS).
It was founded five years ago and offers storage solutions to Canadian clients and offshore. It is located in Toronto, which is close to the US, making it the perfect storage location.
IDS uses a system that adheres to the highest standards of safety and security. Their facility has exceeded the industrial standards for gold and other precious metals storage due to their high quality vaults, security installations and maintenance.
Besides, they have long-term insurance for the stored items insured and will therefore take liability if your goods become damaged, stolen, or lost while in their possession.
They provide the best risk insurance through the best companies, and it’s not only the value of the gold but also the fabrication cost. The replacement of the bullions needs both its value and the fabrication fee.
Also, they offer allocated and segregated storage which means that the valuables are stored in the name of their clients. Therefore, you will receive what you stored.
Additionally, you can access your accounts online 24/7 and even review transactions and authorize documents. You won’t need to fax or scan documents but rather monitor the details regarding your account online.
Finally, you can also track your shipments through the dashboard and monitor the value of your assets.
2. Delaware Depository
Delaware depository is the best gold depository in the US, and luckily, they have set up operations in Canada. They handle the storage, processing, and shipment of precious metals at affordable prices and more conveniently.
Besides, they choose the best locations free from any political interference or natural catastrophes that can pose a danger to the assets.
And in Canada, they store the valuables in strategic and secure locations, complete with high-security warehouses and vaults. They are also monitored 24/7 via CCTV systems and armed guards in and outside the facility.
During transport, the gold is transferred via armored vehicles and is guarded by armed security personnel. They also offer absolute insurance making it one of the best gold depositories in Canada.
And to ensure the customers enjoy the best services, the Delaware depository enables customers direct access to their staff. You can also opt for the segregated storage account or the non-segregated depending on your preferences.
3. UBS AG
UBS AG is one of the top banks which controls the price of gold in London. This is due to its huge volume of precious metal trades, and its fixing sets the pace for the prices for gold and other precious materials for gold refineries, companies, and the market.
It has opened branches in several countries, including the US, France, Israel, Singapore, and Canada, and its large vaults are secure and hold up to 60 metrics tons of gold.
UBS AG is popular for its financial secrecy and maintenance of clients’ confidentiality. This led to several investigations against it by the US, Belgian, French and Israeli governments.
It also manages the highest levels of wealth in the country, and about half of the world’s billionaires store their precious metals in this facility.
The Canadian branch is located in Toronto and offers secure storage for precious gold. Clients also can buy gold for delivery to their addresses or storage and resell it to the company based on their preference.
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4. The Royal Canadian Mint
Royal Canadian Mint is one of Canada's best gold depositories as they offer secure transport of gold to corporations, investment funds, financial institutions, and businesses.
They are a government institution, and they offer secure storage of metal products in their numerous storage vaults located in Winnipeg and Ottawa. Additionally, they store other valuables in more than 15 branches in Canada, Europe, Asia, and the US.
This depository has employed the highest security levels, and they weigh the valuables using the standard industry measurements.
Additionally, each quarter of the year, they count the inventory, and they’re also audited by the Office of the Auditor General of Canada annually. But you can also request an audit of your valuables.
Using their modern software, you can also request reports of your assets to tailor your needs.
Overall, it’s a respected hallmark and manufactures precious products like bars, coins, and wafers, making it the ideal partner for keeping your gold. Here, you can store your valuables at a low cost compared to its competitors.
5. Brinks Limited
Brinks is one of the best precious metal depositories in the United States, and luckily, it has expanded its operations to Canada. And considering Canada is home to some of the most precious natural resources, it’s the perfect place for storing your valuables.
In Canada, you will find some of the best gold reserves, and the government’s policy favors investors who are out to make value from their investments.
Brinks security is located in Toronto and Ontario and offers the highest security for their clients’ valuables. From the 24/7 CCTV monitoring and armed guards guarding the facilities, your gold is safe.
They have armored guards for guarding the gold during transport, and the company is trusted worldwide for its reliable services.
6. Kitco Allocated Storage
When you own gold, silver, or other precious metals, their safety will be your priority. And Kitco enables you to enjoy peace of mind in your home by storing your gold safely to enable you to enjoy privacy and security guarantees.
Kitco is a reliable partner, and besides gold, they also store other precious assets such as silver and palladium.
You will enjoy segregated storage all time, and you have the flexibility to store your gold in different approved metal depositories in Canada, the US, or Hong Kong. This gives you more dynamism and control over your resources as their faults are made with advanced security in mind.
Besides, they allow customers to access their facilities for you to be confident of their security measures. This is, of course, from a safe area, and their storage location in Delaware is very popular among individuals and corporations in Canada.
Additionally, they have a storage location in Toronto.
7. SilverGold Depository
Keeping your gold and other precious metals safe is one of the best and most important actions to take. Gold can be your ideal lifesaver during retirement, especially in these times when the stocks, bonds, and currency market is quite unstable.
The SilverGold depository program ensures the safety of your metals in the segregated facilities. This company works with reputable metal depositories to address your needs, and you are therefore guaranteed the safety of your valuables.
Their prices are also quite competitive, and you won’t need to pay higher fees for their high-security storage.
Additionally, the stored gold is written in the client's name, and at your convenience, you can request the shipment of the bullion to your address. Their individual account bullion storage has many benefits, including that you enjoy exclusive storage.
8. Canadian Bullion
If you buy gold from the Canadian Bullion or if you already own it, they will store it at their secure vaults. Like most good depositories, they offer segregated storage, which helps protect your valuables from damage, theft, or loss.
Besides, they have also gone digital, and they’ll create an account for you upon storing your valuables. This Bullion account enables you to track your items and manage shipments easily.
One of the unique features of Canadian Bullion is its low and competitive prices. Unlike most providers who charge 150 points annually, you will only pay 5 points annually, which is 0.5% of your gold’s value.
Also, you will enjoy storage for the first three months free of charge. Additionally, you can order the gold at your convenience via phone or email to your preferred address.
9. Bank of Montreal
If you are looking to store your gold with a simple and straightforward depository, then your best choice would be the Bank of Montreal. They employ an easier and easy follow the process, and they also sold precious metals.
They have a storage vault in the Royal Canadian Mint, and you will enjoy allocated storage when you hire their services.
Additionally, you won’t meet any annual fees, and they have insurance that handles any liability. Therefore, you don’t have to worry about one day missing your valuables or finding them damaged.
As a client of the Bank of Montreal, you can either buy and store the valuables. Additionally, you can resell them to the bank or request them to be shipped to your address.
10. Fisher Precious Metals
Well, if you want to store your gold or rare coins in a reputable and trusted facility, then your best bet will be the Fisher Precious metals. They offer reliable storage at reliable and reputable third-party depositories, and they, therefore, do not own these depositories themselves.
Additionally, they have insured their gold and other precious metals via the Lloyd of London and other reliable insurance providers in Canada.
You will enjoy allocated and segregated storage in Canada. This program is popular among many investors and collectors who love owning precious metals but shudder at the thought of keeping them in their homes or businesses.
Storing precious metals is a daunting task, and this is why they offer reliable storage for our clients. Besides, if you want to buy these gold and other precious metals, you will buy them in bulk and at lower prices.
What to Consider when choosing a Gold Depository
Choosing a place for storing your gold in Canada is a very serious decision, and it's important to consider the essential factors. These include:
One of the top factors to consider is the type of vaults; i.e., if they are allocated, your gold won’t be mixed with those of other clients. But with unallocated storage, the gold will be stored alongside those of other clients, increasing the risk of damage and theft.
Logistics and security
The security and logistic measures of the gold depository are vital for the products' safety and shipment.
There are many security risks during storage and shipping. Your valuables will be safer with a storage facility that pays attention to its crucial factors and with an insurance scheme.
Choosing the best gold depository in Canada is important to ensure the safety of your precious metals. Our review companies have the best security and logistics and, therefore, offer the best storage for gold, rare coins, and precious metals.