Prosegur specializes as a vault operator and runs only the highest security vaulting facilities. CelticGold offers to store with either Prosegur‘s Frankfurt vault which is a former German Central Bank building.
CelticGold offers high-security storage with Prosegur in Frankfurt, Germany
Investors seek a safe and secure storage option performed to the highest standard to store their gold and silver. With total peace of mind the metals are stored and the investor monitors the value of the goods in the celticgold.eu customer account in My Vault. My Vault is accessable from any device with internet connection.
Physical Gold and Silver is the highest form of investment ownership and allocated or segregated storage is the highest form of storing precious metals.
What does „segregated“ and „allocated“ mean?
Segregated means that your goods are physically separate from any other inventory. The value of the goods in storage is not in any financial account of the vaulting company and/or CelticGold.
Allocated means that your goods are stored under your name and that the products you have ordered are sealed in a seal bag.
What is a seal bag?
The seal bag is a high durable plastic bag with a unique number. My Vault tracks the inventory of your sealbags.
In My Vault you will also see a photo of for each of your stored seal bags.
Does CelticGold have access to my stored Gold and Silver?
CelticGold has no legal rights to access the stored products. Our terms and conditions state that CelticGold acts as a bailee for the customer. The definition of a bailment is when a person gives a personal property into the possession (not ownership) of another person into custody.
The legal title to the property remains with the person (bailor) and the person who holds the property is the bailee. The held property of the bailor(you) will be returned from the bailee (CelticGold) according to your instructions.
Making the best of all online storage options or why should I choose „allocated“ above all else?
There are other ways of owning and storing precious metals such as safety deposit boxes, ETF‘s, Certificates, Pools, etc. CelticGold specializes in the trading of only the highest quality investment gold and silver products in physical form. Which means the product you buy and store does not carry any counterparty risk from a third party.
Certificates, Pools and ETF‘s are all IOU‘s. You own a share and that share is a claim cheque on the inventory of this particular product you have chosen.
A safety deposit box is preferred compared to home storage. But only the segregated and allocated storage is fully serviced and most convenient for the storage of physical gold and silver products
Only the direct physical ownership of coins and bars offers protection against stately capital controls and systemic instability. Allocated and segregated storage offers maximum protection from the counterparty risk from a third party.
It‘s vital to understand these little differences when engaging into physical gold and silver storage.
What are the storage fees?
Location: Prosegur, Frankfurt, Germany: 0.72% per year including 19% VAT
Location: Tallinn, Estonia: CelticGold does not offer permanent storage in Estonia. All orders qualify for 2 Months free storage and will be charged an annual fee of 2% including 20% VAT. We highly recommend to empty stored products every two months or move them continously to Prosegur for long-term storage.
The minimum storage fee is 60 Euros including VAT per storage location and per year. The goods in storage are invoiced after the free period, starting at the end of the following quarter. Should you pick up or instruct shipment of all goods held in storage then a storage invoice will be raised at the time your clear your inventory.
Are there any additional fees and what are they?
The storage fees include the storage facility, insurance, daily and quarterly audits and monitoring function in My Vault.
Additional fees are:
- The minimum storage fee of 60 Euro per year and storage location, including VAT
- Pick Up fee of 10 Euros per Pick up.
- Inspection and re-seal fee of 20 Euros per inspection.
What can I do with My Vault?
My Vault allows you to view your stored sealbags in the vault, the current value and also instruct shipments out of your vault 24 hours per day and 7 days per week.
In addition you can see and track instructed shipments, the sealbag archive and the storage period invoices.
Watch the introductory video (7mins) here:
Can I sell back the goods in storage to CelticGold and how long will the process take?
Yes, we offer to buy back your goods in storage. You instruct and authorise us to perform the required action of opening and re-sealing the effected seal bags. We will then execute the stock moves and confirm the credit note to you. The money will be sent via bank transfer the same day to your bank account. Stock may be moved and buy-back prices guaranteed during business hours on working days.
When does My Vault update the value of the inventory?
The value of all stored sealbags in My Vault are updated every day at 12.00PM.
Why is the value in My Vault lower than the buying price?
My Vault updates the value once per day according the gold and silver spot price. The price difference is explained in price fluctuations (you bought your bullion at a higher or lower price) and also the premium.
The premium is the difference between spot price and the buying price. The premium includes production, shipping, insurance and the bullion companies margin.
When tracking the current value in My Vault the gold and silver spot price is recorded once per day without any premiums.
Can I pick up my goods in storage?
Yes, you can. Please arrange the pick up by emailing us at: email@example.com
Are there any pick up fees?
Yes, each pick up will be charged with 10 Euros.
What are the security features of My Vault?
There are three different aspects of security we would like to explain:
1) Digital Security & Encryption
CelticGold operates the website on military encryption standard and the webservers undergo a daily external security scan by McAfee to make sure there is no malicious or phishing software on our servers. You will see this McAfee trust logo in the top middle of every page.
2) Multi-Level Authentication
Attached to each storage order we will send you a document with additional needed data that we ask you to return to us via regular mail when you store for the first time. This additional multi-level authentication will be checked before any storage shipment and/or payment from a sale back to us will be executed.
This additional data will not be shared with anyone outside of CelticGold and held in security.
3) Insured Secure Vaults
The vaults are secured by leading global secure partners: G4S and Prosegur. Only ultra-high security vault locations were chosen within the EU as we believe it may become very vital to be able to travel there within a short period of time.
Each vault is located no longer than 20 minutes from an international Airport where it is easy to fly in and out from.
When will I receive a storage invoice?
We will send you a storage period invoice at the end of each quarter. All sealbags that have passed the free storage period will be invoiced for storage according to the fees we have stated above.
We will only invoice the actual value of each product over the quarter.
You store from 1st January to 30th June two orders each containing 10 gold coins with an exemplary value of 1,000 Euro for each coin. So you have a total of 20 coins with a value of 20,000 Euros stored in your vault.
You will not receive a storage invoice for the first quarter from 1st of January to 31st of March as this is the free storage period CelticGold offers to all customers.
In the second quarter from April 1st to 30th June you decide on May1st to instruct delivery of the second order containing 10 coins with a value of 10,000 Euros.
The next invoice dated 30th June will reflect the first order stored from April 1st to 30th June with a value of 10,000 Euros. The second order that contained 10 coins with a value of 10,000 Euros will be invoiced for storage from 1st April to May 1st.
What happens when I collect or ship all goods in storage within a quarter?
Should you clear your entire inventory within a quarter then we will send you a storage invoice dated with the day you instructed the shipment or collected.
It is important to pay the shipping/pick up costs and the storage invoice immediately so the goods can be released. As always we accept PayPal and Bank Transfer for all payments.
What happens if I do not pay the storage fees?
Sometimes things go wrong and you won‘t be able to pay for goods in storage. This is not a problem. We will send you a payment reminder and your account balance via email and you then have 30 days to pay the invoice. Should you be 30 days past due with the payment then according to our Terms & Conditions we will sell the fraction of products needed to cover the storage invoice and send you the remaining balance to your bank account.
We will then re-seal the goods and log this activity in your sealbag history.
What is the seal bag history?
The sealbag history is a log of all activities regarding the content of the sealbag. You find the history from each sealbag in the My Vault seal bag view.
In addition we will also send you the history after each quarter with the storage invoice.
Can I store gold and silver in Frankfurt with Prosegur?
Yes, you can. The Prosegur storage fee applies. Please note CelticGold offers silver coins at Europe‘s guaranteed lowest price for you to buy in Estonia. You may ship your silver to Prosegur in Frankfurt.
In this case we suggest you use the 3 months free storage period with G4S in Estonia and then combine several orders together and ship them to Frankfurt. This way you will ship more kilos which cost less than to ship each order separate.
Can I move silver to Prosegur in Frankfurt for further storage?
Yes, you can. Please keep in mind that you need to pay the shipping from Estonia to Prosegur in Germany. If you wish to move your goods from Estonia to Germany then simply click „Storage move to Prosegur“ in the Storage Shipment Checkout.
All else will be taken care of and your seal bag number and history will display updated when the move is completed. (Allow 5 working days for the insured UPS shipment.)
Why are the shipping costs higher for storage shipments from Prosegur in Germany than compared to the shipping prices for gold orders?
You pay the costs for handling, packing, shipping and insurance. CelticGold does not make an extra or hidden profit. The shipping prices for gold orders are lower as insurance is part of the product margin.
If someone decides to ship later we charge the full costs that need to be paid but in return offer 3 months free storage. So we cross finance the free storage (because we pay it to the vault operator) with our product margin instead of insurance.
CelticGold does not an extra or hidden profit on shipping. Our model and process is designed to offer customers the highest level of service and convenience at the lowest cost.