Good as gold
“It’s not for nothing that people use the phrase, ‘good as gold’.” We sat down with Myles Chandler, general manager behind Commonwealth Vault – the ‘buy, store and protect’ bullion facility that has earned the country’s confidence.
Is buying bullion a good idea to preserve the value of your savings in the 2026 economy?
Inflation is a nasty bug that eats away value. Bullion, however, is a long-term preservation of the value of your dollar today. When measured against real goods, the value of NZ dollar is declining (NZD is worth approx 12% less against AUD today than a year ago). Buy gold or silver today and compared with the NZD in 10 years time it will still be worth what it is today, or more, instead of being devalued by 10 years of inflation. Take what the Central Banks are doing – buying gold to support the value of their currency – as an example.
How has Commonwealth Vault become New Zealand’s biggest vault company?
Trust, especially in this market, is earned, not given and Commonwealth Vault has earned it the hard way by doing things right through a long history of security. Our primary responsibility is to our customers and to make sure that their property is secure and we are incredibly particular about that. We’ve had customers with us for more than 20 years. We have international security review teams visit to review our processes and systems, so we are continually upgrading.
Tell us about your new vault opening in Australia this July?
We are pleased to announce that New Zealand’s largest safety deposit box company has expanded operations internationally with the opening of a new vault in Adelaide. This gives our customers confidence in the company in that its operations are of a high international standard. The Adelaide Vault will be open this coming 26 July and we are pleased with the amount of interest from Australian customers.
What reasons cause potential investors to be hesitant, and what would you say to someone on the fence?
We always recommend talking with your financial advisor for personalised advice; you may have unique considerations or wish to discuss the rationale for a larger percentage of your investments in gold or silver. I like to have, in my hands, some physical store of value like gold or silver. This is because I can’t control the world today – geopolitical tension, stock market boom and busts, inflation – but I can hold some physical silver or gold. I view my holdings a bit like insurance. I hope I never need it, but I’ll be very glad to have it if things go wrong. I started small. I bought a few sovereigns, then one ounce bars and coins. I didn’t go all-in.
How do I start my bullion investment and storage journey with Commonwealth Vault, at the Christchurch or Auckland locations?
After talking with your advisor, check out our website, www.commonwealthvault.co.nz and see the gold and silver product on offer. Pricing is live and up to date with the changes in the bullion spot pricing. Our range of investment options for gold start at around $300 and silver at an ounce coin for around $150, and remember we always buy back bullion purchased from us. Then, call our team on 0800 222 883.
I’m worried about the security of my bullion when I’m walking to or from my car to the Commonwealth Vault. What’s your solution?
Our vault at 30 Hargreaves Street in Auckland is a premium offer for vault customers. It’s purpose-built with flat access, making mobility and accessibility no issue (you don’t have to walk a staircase to an underground vault). And if you’re depositing family jewellery or 10 gold coins, that’s thousands in your pocket, so security is paramount. Our Hargreaves Vault is the only vault with secure drive-in parking for complete peace of mind when picking up and depositing bullion and valuables.
