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Allocated and unallocated gold accounts are possible, but we don't recommend them lightly.....

This is what we wrote in 2000:

Gold Accounts & Storage

Hardly a day goes by without someone asking us whether we provide storage facilities for their gold coins or bars.
We also get asked can we sell gold on an allocated or unallocated basis.
Often this may be to reduce storage shipping, or other dealing costs.

We Don't Offer Storage or Accounts
Although we have considered the idea many times over the past 40 years, we have always decided not to offer long term storage facilities for investment gold, whether in the form of unallocated account gold, allocated accounts, or physical storage of gold coins or bars.
We are happy, though, to provide short term storage for purchasers who merely wish to delay delivery for short periods, perhaps because they expect to be away on holiday.

Why Don't We Offer Long Term Storage or Gold Accounts

  • We feel that our role is to provide a competitive dealing facility for gold coins and gold bars. It has been one of our specialities for about 40 years. We work very hard to keep up with the growing demand for our services. By keeping our business as simple as possible, we believe we can remain the UK's leading dealer in gold coins.
  • Offering accounts and storage would increase our administrative workload.
  • If we were responsible for storing millions of pounds worth of client's gold, we would need to invest in extra security, and we would also become a more attractive target for criminals. This would probably increase the cost of our own insurance cover.
  • One of the underlying reasons for holding gold as an investment, is a a form of ultimate insurance. If world war broke out, major banks collapsed, or major currencies collapsed, it would be desirable to have your gold ready to hand. It's no good being deposited in a bank if the bank goes bust.
  • In the 1960's, when we first thought about offering gold storage or accounts, we would probably have sub-contracted the storage to Johnson Matthey Bankers Limited. Although they were a were a blue chip public company, a member of the exclusive London gold pool, and a substantial, long established and reputable merchant bank, they caused a banking crisis in 1984, when they would have gone bust, if the Bank of England had not launched its famous "lifeboat". If we had got large amounts of customers' gold in storage, then JM may well have taken us with them. With hindsight, we are glad we did not offer storage then, and are happy if it makes us cautious now.
  • Matthey were, as we say, a reputable bank. New schemes have recently been launched offering gold accounts. We have not had the time or inclination to research the people behind these schemes, but we would not be surprised if holders of these accounts came to grief. We would strongly suggest checking what guarantees exist in such schemes, and who the people are behind them.
  • We have doubled our sales every year for the past 4 years, and are kept busy enough trying to keep up with demand, without the extra work and responsibility which accounts and storage would create.

2018 - So What Has Changed?

We have invested in our admin systems, making them more efficient and accurate. We also invested in our "new" refurbished building, adding not one but two high security strongrooms. Although our building stands us at "only" about 1 million, the same facility would probably cost in excess of 10 million in central London. As a result of our newer higher security, our insurance premiums have dropped dramatically. We can now offer fully insured gold storage for half of the cost of our previous insurance alone. One of our strongrooms is good for at least 100 million of insurance cover; in fact we were told "whatever you want - just ask". As a belt and braces approach, we also have two safes within this strongroom. As these facilities are under our own direct control, we are not at any other counter-party risk. We are in a position where we know we can do it right and that is why we now offer this facility.

Customer Storage

We are now in a position to offer customer storage for gold, silver or platinum, and can do so at half price compared with the Royal Mint, just 0.5% percent plus VAT compared with 1.0% plus VAT at the Royal Mint.

Visit our new website for more information on our storage facilities.

Storing Your Gold Securely

Johnson Matthey 100 Gram Gold Bar

Johnson Matthey 100 Gram Gold Bar


"Tax Free Gold" website is owned and operated by Chard (1964) Limited
32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England. Telephone (44) - (0) 1253 - 343081; Fax 408058;
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