When institutions hold physical gold, custody risk is a primary concern. Unlike paper gold, allocated metal must be verifiably stored and securely protected — not just by reputation, but with independent checks.
Independent Checks: Evidence Over Promises
Institutions need more than a statement. They want third-party confirmation that the assets exist and match what’s reported.
Independent checks are carried out by specialist firms that cross-check bar serial numbers, weights and locations against the custodian’s records. These checks help to:
- Match physical bars to recorded holdings
- Confirm that client metal is recorded separately from the provider’s own assets
- Detect discrepancies early
- Support regulatory and internal reporting
At EONA, holdings are recorded against specific bar serial numbers, and vault stock held with Loomis is subject to independent checks. You can see the bars your holding is recorded against in your account.
Insurance: What It Does and Doesn’t Mean
Even the most secure vaults face rare but real risks: natural disasters, theft or unrest. Institutions should understand who insures the vault and on what terms.
This is how it works with EONA.
The vault operator, Loomis, maintains insurance under its own policy. EONA does not promise that this insurance covers you or your metal directly or in full.
Insurance is one safeguard among several. The others are allocation to specific bars and recording client metal separately from EONA’s own assets.
When assessing any storage provider, institutions should ask about:
- Who holds the insurance policy, and what it covers
- Whether cover is per vault, per client or per event
- Whether, and how, clients could benefit from a claim
Storage fees at EONA are 0.50% per year for gold and 1.00% per year for silver, plus 5% VAT (see our Fees & Spread page).
Compliance and Transparency
Independent checks and clear ownership records support financial reporting, especially under IFRS and national standards that require evidence for recognised assets.
For institutional clients with fiduciary responsibilities, understanding these arrangements is part of due diligence.
Summary for Boards and Risk Committees
When evaluating a storage provider, ask:
- Who carries out stock checks? How often?
- Who holds the insurance, and who does it protect?
- Are there caps, exclusions or delays in claims?
- How is my ownership recorded and kept separate from the provider’s assets?
- At EONA, our team can explain how each of these works for your account.