Gold storage in the UK

Storing gold in Britain has changed. High street banks have largely given up safe deposit boxes, while mints, dealers and online platforms have rushed to offer vaults. Fees vary more than eightfold, VAT is added to most of them, and none of the metal is covered by the FSCS. Here is how the options compare, using fee pages we read on 12 October 2026.

What are your options for storing gold in the UK?

Should you keep gold at home?

For a handful of Sovereigns or Britannias, home is the simplest choice: no fee, no paperwork and you can sell to any dealer. Because UK legal tender coins are free of Capital Gains Tax (see our UK gold tax guide), many people buy coins to hold at home rather than vault gold.

If you do, focus on three things. Fit a safe that is fixed to the floor or a wall. Keep your purchases private, including on social media. And keep receipts and photographs somewhere other than the safe, so you can prove what you owned if you ever need to claim.

Will my home insurance cover gold?

Do not assume so. Most contents policies set a single item limit, the most they pay for any one valuable. Insurance Business reported in May 2025 that, according to Defaqto, 65% of home insurance products set that limit between £1,500 and £2,500. At current prices a single 1oz coin is worth more than that. Some policies also treat bullion as "money" rather than valuables, with far lower limits. Tell your insurer exactly what you hold, ask whether a safe of a certain grade is required, and get the reply in writing. You may need to list items individually and pay more.

Can you still get a safe deposit box in the UK?

Yes, but fewer places offer them. Which? reports that almost all major high street banks have stopped providing safe deposit boxes, leaving Metro Bank as the main high street bank still offering them. In October 2026 Metro Bank listed five sizes, including VAT:

You must be 18 or over and hold a Metro Bank personal current account or cash account. Larger sizes are subject to availability. Metro Bank listed 76 stores on its reservation form.

Even the smallest box holds plenty of coins, so a box mainly makes sense for larger holdings or alongside other valuables. Metro Bank tells box holders they may want to make sure their valuables are properly insured to their value, so the bank is not insuring the contents for you. Independent companies also rent boxes. Metropolitan, which describes itself as the largest independent provider in the UK, has vaults in Knightsbridge, St John's Wood and Chiswick in London. Check opening hours and insurance terms before you sign up.

How does The Royal Mint vault work?

The Royal Mint stores coins and bars in The Vault at its site in South Wales on a fully allocated, segregated basis, meaning your exact items are recorded in your name and kept apart. Its storage fees are:

• 1% + VAT a year for coin tubes and larger bars;
• 2% + VAT a year for single coins in capsules and 1 g, 5 g and 10 g bars;
• 0.5% + VAT a year for DigiGold, its digital product backed by gold in The Vault, which cannot be delivered.

Fees are based on the average daily value and invoiced quarterly in arrears, and The Royal Mint says UK customers pay no extraction fee for delivery. The convenience of buying, storing and selling with the maker is real, but the 2% rate on single coins is the highest in this guide. The Royal Mint also states its bullion products are not FCA regulated, so the FSCS and Financial Ombudsman do not apply. Our BullionVault vs The Royal Mint comparison sets the two side by side.

What do UK dealers and vault platforms charge?

• BullionVault: 0.12% a year for gold, insurance included, with a minimum of $4 a month, plus 0.5% dealing commission when you buy or sell. You own shares of large professional bars in a vault you choose, including London. See our BullionVault review.
• GoldBroker: 1.50% a year plus a €90 maintenance fee for holdings under €10,000, falling to 1.35% from €10,000 and 1.00% from €250,000. Your items sit in a Malca-Amit vault under a contract in your name. The first year is billed in full upfront.
• Chards: 0.5% + VAT a year under £500,000, minimum £10 a month + VAT, allocated and segregated, no minimum term.
• Atkinsons Bullion (Vaultor): 0.60% + VAT from £20,000 to £100,000 and 0.50% + VAT to £250,000, minimum £30 + VAT a quarter, held with Brink's in the UK.
• Hatton Garden Metals: about 0.65% a year, £120 a year minimum under £20,000, plus a £15 administration fee; metal held fully allocated in a Chubb safe within a vault.
• BullionByPost: 0.65% + VAT a year, £10 a month minimum, fully allocated with Brink's in London.

What does gold storage cost on £10,000, £50,000 and £250,000?

VAT at 20% added where the provider quotes fees plus VAT. BullionVault's minimum is set in US dollars and GoldBroker's tiers in euros; converted at approximately £1 = $1.32 and £1 = €1.18. Atkinsons' figures assume the band rate applies to the whole holding. Free-storage offers for new customers are ignored. Assumes the gold's value stays flat for a year.

The cheapest route depends on what you want to own. BullionVault is far cheaper, but you hold fractions of 400 oz bars, not coins you can later keep at home. If you want your own Britannias held for you, the dealer vaults at 0.5% to 0.65% plus VAT are roughly half the price of The Royal Mint's 1% plus VAT, and a quarter of its 2% rate for single coins. Run other amounts through our storage cost calculator.

To see the providers' own terms, you can compare BullionVault's tariff with The Royal Mint's storage service. For larger, longer-term holdings stored outside the UK, GoldBroker is another option; read the fee tiers carefully first.

Is stored gold regulated or protected?

Physical gold bullion is generally not a regulated investment in the UK, so buying and storing it is not covered by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman. What protects you is the structure: allocated storage, where specific items are recorded as yours and not the company's, plus the vault's insurance and the provider's terms. Our allocated vs unallocated gold guide explains why that distinction matters if a company fails. Gold held in a pension is different again; see our guide to gold in a SIPP or ISA. You can check any firm's status on the FCA register.

Pros and cons of each UK option

How to choose UK gold storage, step by step

1. Decide whether you want coins in hand. If yes, home or a box. If you only want exposure to the gold price, a vault platform is cheaper to run.
2. Work out your holding size. Under about £20,000, monthly minimums decide the cost; above that, the percentage rate matters most.
3. Check fees include VAT. Compare like with like.
4. Confirm the gold is allocated in your name. Ask for a certificate or holdings statement.
5. Check exit costs. Delivery, re-vaulting and early withdrawal charges vary.
6. Record everything. Keep account details and a list of holdings where your executors can find them.

For where to buy first, see our guide to buying gold in the UK and our global gold storage guide. This page is general information, not financial advice.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.