What should I pay attention to when transporting gold?

You may already know how to store gold securely, but transporting it is a different matter altogether. Whether you need to move your gold because of a relocation, general transport, or a recent purchase, it's important to handle the process carefully. Below are the key points to consider when transporting gold.

Preparing for transporting gold

First, ensure your gold bars and gold coins are carefully wiped clean with a soft cloth. Removing dirt helps prevent damage during transport.
Next, decide how to store the coins and bars during transportation. Coins can be placed in pouches, tubes, or their original monster boxes. For bars, wrap them in clean cloth or protective plastic. Bars require extra care as they are relatively soft and prone to wear and tear. When stacking bars, separate them using bubble wrap or soft cloth to prevent scratches or other damage.

Transporting gold by car

Using a car for transporting gold is generally straightforward. However, crossing national borders with gold can sometimes pose challenges, so research the regulations beforehand.
If you're moving house and transporting gold as part of the move, notify your insurance provider. This ensures you understand your coverage during the transport of precious metals, as car insurance alone does not cover possessions inside the vehicle.

Transporting gold by bus or train

When transporting gold via bus or train, ensure it is carefully packaged. It’s especially important to keep the gold within your sight and never leave it unattended. Research the transportation company’s regulations regarding the transport of gold beforehand. Additionally, contact your insurance provider to confirm whether your policy covers transporting gold by public transport.

Transporting gold by plane

If transporting gold by plane, always keep it in your carry-on luggage. Storing gold in checked baggage risks damage, theft, or loss. Keep in mind that you can carry up to €10,000 worth of possessions in your carry-on without declaration. If you exceed this amount, you must declare it to customs, or risk a fine.
When passing through security or customs, inform officials that you are carrying gold. Have the necessary paperwork, such as receipts or certificates of authenticity, ready. You may also need to show your gold coins and bars to officers in a private screening room.
If transporting gold internationally, you may need to fill out declaration forms and could be required to pay taxes.

Transporting gold with a moving company or courier service

If you’re relocating gold using a moving company or courier service, avoid transporting it alongside other household items. It’s best to keep your gold with you, as recovering stolen gold or filing insurance claims can be time-consuming and difficult.
There are reliable courier services that specialize in transporting gold securely, though this option can be costly. If you choose this method, request quotes from multiple providers to compare prices and find the best service.

Shipping gold by post

If you’re shipping gold via mail, always send it as a registered package. This ensures insurance coverage and provides peace of mind, as the package cannot be delivered to neighbors. However, shipping by mail means you won’t have control over your gold until it arrives at its destination. For this reason, we recommend using a specialized courier service for mailing precious metals.
At The Silver Mountain, you can choose our in-house courier service. Our drivers are highly trained, work discreetly, and handle deliveries with care, tailored to the valuable nature of our products. Additionally, recipients must always present valid identification upon delivery.

Disclaimer: The Silver Mountain does not provide investment advice and this article should not be considered as such. Past performance is no guarantee of future results.