June 7, 2023


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Want to invest in gold: 12/29/2021.  Check: is it worth it, how much do you have, how and where to buy, and what about safe storage

Want to invest in gold: 12/29/2021. Check: is it worth it, how much do you have, how and where to buy, and what about safe storage

With rising inflation, investors in Poland and around the world are more willing to invest in gold, believing that a “safe haven” will not only provide them with protection from economic fluctuations after the pandemic, but will also bring a certain profit. But do we know how to buy raw? When? where? How is it stored?

Sometimes it makes sense to buy gold online for home delivery. But this is how it can be done with products worth up to 15,000 euros. At the higher value, the provisions of the Anti-Money Laundering and Terrorist Financing Act become effective. Confirmation of personal data at a fixed point of sale. The situation in the Polish gold market and how to buy metal safely in the era of an epidemic was told by experts Jaroslaw Chudowski of the Mint of Treasury – the largest investment trader in gold and precious metals in the country – and Adam Stroniawski of Safe Treasury – one of Poland’s best protected treasury, offering a service Lockers rental.

How to buy gold to invest in times of pandemic? You can also online. How do you store gold safely? in the basement

Today, we can easily buy investment gold offline. However, in times of pandemic and health restrictions, online stores are gaining increasing popularity. They guarantee the same security of transactions, plus they fit into the system of avoiding unnecessary social contacts.

However, when buying online, you should remember a few basic rules – choose an online store that not only has a “lock” in the address that guarantees cybersecurity, but also has good reviews, offers products from a reputable mint, preferably Being associated with the London Bullion Market Association, the possibility of insuring a valuable consignment.
– It is also worth paying attention to the date of availability of the product. Availability period exceeding 15 days may mean that the seller does not have the product in stock and will not order the goods until after payment. We would be like an investor who buys a hole in the ground in a square that has just been fenced off by the developer, rather than buying a finished apartment. However, the developer may go bankrupt, or there may be problems with determining the ownership of the land. The purchase of investment gold is a significant cost, payment is usually made up front – so it is better to decide on something that we will have in 2-3 days. It is also worth checking if the courier delivery is insured. Buying gold online works well when we can’t go to a fixed point. This often happens during a pandemic. – adds Yaroslav Chudovsky from the Treasury Department.

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When deciding to buy investment gold, it is worth considering where to store it. An apartment, even if it is equipped with a safe or an alarm, is not a very safe solution. According to police statistics, the number of burglaries of Polish homes annually fluctuates around 70,000. Furthermore, home theft insurance does not generally cover gold bullion. The safest way to store precious metal products is in a bank safe, depositing them with a merchant or in safes that provide hiding places for rent. One of the best guarded safes is the safe housed in the former headquarters of the Agricultural Bank in Warsaw. Thus, Safe Treasury is the only facility of this type in Poland that uses the infrastructure and banking infrastructure, and this guarantees maximum security of our clients’ deposits, says Adam Stroniawski of Bezpieczny Skarbiec.
Gold kept in the proverbial “sock” is much less safe than that stored in a well-protected safe. It is estimated that one in three Swedes and one in five French people have a safe deposit box and that 25 million Americans keep their valuables that way. In Poland, the popularity of this type of service is still growing – in direct proportion to the interest in gold. Contrary to appearances, this service is not at all expensive – prices range from 100 to 300 PLN per month, depending on the size of the box. This is much less than renting a safe at the bank. Our locker is one of the best guarded places in Poland. In addition to security, such as 24/7 monitoring, two different locking systems, and an underground location, the content of each deposit is also secured – Stroniawski adds. How to deliver gold to the treasury? For large orders, you can order delivery by armed convoy. – says Adam Stroniawski of the safe.

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What about gold products to buy online? The best are those that allow for optimal investment management – the easiest and fastest way is to dispense small amounts of metal, so 1-ounce bars or coins are the perfect choice. It is also worth considering the purchase of a so-called combibaru or smartpack – they look like a bar of chocolate, 10-, 50- or 100-gram bars that allow you to “shred” small pieces and sell them at any time or as a gift to a loved one. An interesting alternative is commemorative gold coins – minted in limited series, in the long run, they gain more value than their popular counterparts.
There is one thing to remember when buying online. In this way, we can actually buy gold products worth up to 15,000 euros at a time, but also in several transactions. At the higher value, the provisions of the Anti-Money Laundering and Terrorist Financing Act become effective. Confirmation of personal data at a fixed point of sale and signing of a special statement, for example, that the customer is not a politician. But despite these limitations, we have a boom in online gold purchases, but also in traditional branches. Polish investors often see gold not only as a safe capital investment, but also as a profitable investment. It is worth emphasizing that, unlike the gold that prevailed a few years ago, gold is not an expensive investment at all, and the necessary capital can be raised much faster than, say, a private contribution in the purchase of real estate – 1 gram bar can already be bought for about PLN 300. All this, combined with uncontrollable inflation and an increasingly dwindling belief, politicians assert, that the situation will soon return to the normal conditions that prevailed before the pandemic, and interest in gold continues to grow. According to our estimates, this year the Poles will buy more than 12 tons of investment gold – says Jaroslaw Udovsky, head of the US Treasury.

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