Can Knox store the bullion I purchase?
The short answer
Yes, bullion bought from Knox can be placed in approved storage instead of being collected or delivered, so the metal need not leave the facility. The questions to settle are which arrangement applies, whether a box you rent and control or custody in which specific items are recorded for you, how insurance treats the metal, what it costs and how you withdraw it later.
Why buyers store bullion where they buy it
Carrying bullion away from a dealer, or having it delivered, adds a moment of exposure. Storing it at the same facility avoids transporting it and means you do not need to keep it at home. You still own the metal, and you can withdraw it later in line with the storage terms.
Two different storage arrangements
- Safe deposit box: you rent a box, place the bullion in it yourself and control what goes in and out. The provider does not record the contents.
- Custody or allocated storage: the provider holds specific, identified items for you and records them in your name, with receipts or statements showing what is held.
Ask which arrangement is being offered, whether your items are kept separately from other clients' metal, and which document proves your ownership.
What depends on Knox's terms
Fees, insurance, access and withdrawal rules differ between arrangements. The box insurance covers items of intrinsic value such as jewellery, coins, bank notes, securities and certificates, but cash is covered only up to the amount in the policy schedule. Insurance for items held in safe custody outside a safe deposit box (such as art, trunks and large items) works differently: it is based on the potential value of each item, so Knox confirms the cover for your items before intake. If you choose a box, its weight capacity matters because gold is dense. Rental is paid by monthly debit order or annually in advance, with a 5% discount for paying annually. Monthly rental starts at R240 for the smallest box and goes up to R1 537 for the largest, VAT inclusive.
Records to keep
- Your purchase invoice, showing the product, quantity and price.
- Any storage receipt or statement.
- Your box agreement and insurance confirmation, if you use a box.
Arranging storage at the time of purchase
Tell Knox when you buy that you would like the bullion stored, and ask for the storage terms in writing before you pay. That lets you compare the ongoing cost with taking the metal home, and avoids a second trip to bring it back.
How Knox handles this
Ready for the next step?
Speak to the Knox team about your situation. They will confirm current pricing, availability and requirements before you decide.
