How Do You Store Gold at Home?
One of the key decisions when investing in gold bullion is how and where you will store it. Investors frequently opt to store coins and bars at home.
But if you do go down this route, it is vitally important that you know how to prevent theft as well as how to protect precious metals against natural disasters.
Safes
Home storage of gold offers numerous advantages. If disaster strikes and bank access becomes impossible, having gold stored at home could provide access in an instant when needed.
But to ensure the security of your bullion at home, it is necessary to take measures to keep it protected. A fireproof safe is an ideal way to store gold; alternatively you could try hiding it under false bottom drawers, behind refrigerators or burying it deeper than 1.5 meters so as to bypass metal detectors.
Always tell as few people as possible where your precious metals are kept at home; otherwise if someone discovers your secret stash they could easily use this to take it from you. Therefore, it can be helpful to divide up gold into multiple hiding spaces throughout the home to protect itself against potential thieves.
Vaults
Many investors opt to store their gold at home rather than trust it with third-party storage providers such as banks or depositories, although this option should be carefully considered before choosing this route. Here are a few key considerations for doing this successfully:
First and foremost, homeowners who store precious metals at home are responsible for keeping them secure from theft. This requires investing in a strong safe as well as increasing their home insurance policy to accommodate for the additional value.
Security boxes are another popular means of safely storing bullion investments at home. With their tamper-proof seals, these containers offer peace of mind that the investment is safe.
Other creative hiding spots that may work include a hidden room within your house, disused piping sections or freezer (with frozen food stored safely within it). It is important that these creative places of concealment don’t attract unwanted attention such as electricians, gardeners or domestic helpers who could discover it by accident.
Security Boxes
Security boxes are an ideal way for those seeking to store precious metals close at hand, with their tamper-proof seals easily being monitored to detect any attempts at access.
Home storage may seem convenient, but it could leave your investment vulnerable to fires, floods, tornadoes and earthquakes that can ruin it all. Furthermore, you must consider how easily someone else (perhaps your family or a trustee appointed by you) would be able to retrieve it should something happen to you and it becomes necessary for them to do so themselves if something were to become incapacitating or happen after death.
Vault storage offers high levels of security backed by insurance, though it may be more costly than keeping your gold at home or in bank safe deposit boxes. Do your research to identify an establishment which meets these criteria while remaining cost-effective.
Hiding Places
Home security requires knowing where the gold is hidden; one way is using your freezer. Freezer temperatures provide optimal conditions for keeping bullion fresher for longer. Be careful who you tell; too many will tell others where your gold resides!
Alternately, another way is to bury your gold. While this requires some work and may be effective – especially if buried in your backyard – a burglar with access to metal detectors could easily discover it.
Large plant pots make an excellent place to hide precious metals, with just a slight modification to the base allowing you to create a non-visible compartment within. Residents living in rural areas where firewood stockpiles are common can hide bullion by drilling into one or more logs to create custom hollow interiors for each log drilled – creating an effective concealment method.
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