One of Karatbars 0.1-gram gold cards celebrating the importance to be kind to othersEvery time you purchase Karatbars gold, you choose whether you want it to be shipped or stored.
If you want your gold to be shipped, it will be delivered to your door via FedEx.
If you want your gold to be stored, it will be stored in secure Karatbars vaults. The storage is free up to 100 grams of gold.
If you are wondering how Karatbars stores gold for its customers, then continue reading.
To store gold for its customers, Karatbars uses two safe, third-party vaults that are fully insured. It is important to mention that Karatbars always stores more gold in its vaults than customers’ storage holdings are.
First vault
The first vault is located in Karatbars home office, in Stuttgart. This is where the company stores small gold bars, that is 1-gram, 2.5-gram and 5-gram bars.
Every year, usually twice per year, the German government conducts audits on gold vaults and not once did Karatbars fail a single audit.
Nonetheless, if Karatbars does fail in the future, according to the government policy in Germany, it will be publicized. That is, you will know about the failure from the news.
Second vault
The second vault is where large gold bars are stored. However, due to security reasons, Karatbars does not expose the details of the vault’s location. The company provides this information only to the German government.
“Four eye” principle
Karatbars has a “four eye” principle with its gold shipping and storage. This means that every time anyone, an employee say, physically touches gold, there should be four sets of eyes acknowledging this happening in one way or another.
For example, one set of eyes is video surveillance and the other set is a signature of some other employee or contractor.
Conclusion
Because Karatbars regularly has to pass stringent requirements to continue to store gold for its customers, you can feel safe about letting Karatbars do it for you.
However, remember, don’t keep all your eggs in one basket, so have one portion of your gold shipped to you and another portion stored.
To start saving in gold today, open your free account here. No hidden charges.
Feel free to ask any questions or share what you think!
*** There is a lot of information on the Internet related to how Karatbars stores gold for its customers. I don’t know what is correct and what is not, the facts that I have provided in this article are coming from Cherylanne Gober. Cherylanne is the senior member of Karatbars International Leadership Council and lives in Nashville, Tennessee
I am so glad I came across your post! I am actually looking for ways to invest some money. I just sold some stocks and was thinking to check about buying gold. That is why is great I saw your post. Karatbars sounds something I would like to research further. Looks like the way to go. What I need to understand is if I want to sell the gold would they do it for me and how fast? Do you know anything about it?
Hello Lena,
Thanks for your visit. If you want to sell your gold back to the company, Karatbars will buy it back at the guaranteed best buy-back price. You do in your back office. Like most people, personally, I have never done it so I am not sure how long it takes for them to process your request. People like their Karatbars gold! It is electronic so I would guess a couple days maximum.
I went to my back office and made a screenshot. You can see “Buy Back Price” there at the bottom. In “My Gold” you can sell you gold back to the company, see “Gold BuyBack” and “BuyBack Pending Request”.
Karatbars is actually one of the few companies that offers to buy gold back from its customers.
Yeah. I’m in the same boat as Lena. I was actually looking online for 20 oz silver to invest in, however, now I am considering going with some gold too after reading about Karatbars… I suppose I could do as the article suggests and not put all of my eggs in one basket.
I am astonished at the option of selling the gold back to Karatbars if I wanted to–thanks for the screenshot Margarita. That is a feature that I have yet to see at any other company, although I’ve only looked at three to date.
Lastly, I know that it is all done electronic, but how long would it take to have my gold physically shipped to me?
-Nerissa S.
#20MinutesOfMeTime
Thank you for dropping by Nerissa.
It takes about a week or so to ship to Canada and US. Like I mentioned in the article, it is done by FedEx.
It is so simple to save in gold with this company! Their gold is also available in 0.1-gram weights and from October of 2016 there will be 0.2-gram, 0.4-gram and 0.6-gram weights.
Karatbars gold, hmm… sounds like something to think about. Is the information you used on your site original or did you copy and paste it from the other site? At the bottom you said you were using information provided by Cherylanne Gober. I have some research to do on this now.
Hello Mike,
This article is written by me. The article is built around the facts on two vaults and the four-eye principle. The facts themselves are coming from Cherylanne Gober, like I said in the note.