Where Should I Keep My Gold and Silver?
Location is one of the key decisions facing investors when purchasing precious metals as insurance against economic, political and financial disaster.
At home can be the ideal location for many to store their gold and silver, however this requires having access to an adequate safe with additional insurance coverage in case of theft or damage.
Many gold and silver buyers opt to store their precious metals safely at home or in a safe deposit box; however, it’s important to take certain factors into consideration before choosing this option.
As part of your storage environment, it should be secure; this may prove difficult if you rent or live in an apartment building, while homeowners insurance typically does not cover valuables like gold bullion.
Another popular solution is installing a floor safe, which offers discreet security at an economical price point but may be unsuitable for frequent movers or those living without foundational homes.
Bank safety deposit boxes offer some protection from theft, but they’re not FDIC-insured and could be subject to freezes or confiscations in response to financial issues. Furthermore, storing coins or bars together could cause them to tarnish and lose value; due to these concerns we typically advise against depositing precious metals with banks.
Safe Deposit Boxes
Some bullion owners opt to store their precious metals at home or on private property as an efficient storage option, avoiding storage fees while still having access to it 24/7. But be wary when selecting hiding places – burglars may target these hidden locations while environmental hazards and natural disasters could damage or even destroy them!
Bank depositories also provide safe deposit boxes to rent to their customers, although experts do not consider this to be an adequate way of storing bullion. Banks may be subject to seizures from government agencies, financial instability and bail-ins; additionally they engage in risky trading and lending practices which make them less than suitable options when it comes to protecting precious metal investments. At Money Metals we offer fully segregated, allocated storage so your investments are safe from potential theft.
Private Depository Boxes
Avoiding home safes by renting a private depository box instead. These tightly secured facilities specialize in protecting precious metals and are staffed with security professionals; you have both segregated and communal storage available within one vault; this means your bullion remains yours until it’s removed while communal storage allows other customers to store their holdings with you.
Gold and silver should be stored in lockboxes that require keys to access, as these provide more security than standard home safes. It would be wise to inform two trusted individuals where your gold and silver is kept so that if anything were to happen to you or them they could access it if necessary.
Some bullion dealers offer these boxes through trusted bullion depositories, with typically larger storage capacities than what can be found at local banks and more affordable rates than those associated with safe deposit boxes.
Storing silver bullion at a location other than your home may be an ideal solution for those wishing to avoid the space limitations and security risks associated with keeping precious metals at home. Care should be taken to make sure it is safely hidden so it remains protected against environmental damage or theft.
Investors frequently opt for third party storage facilities that provide secure, discreet and fully segregated vaulting services for their gold and silver. When selecting such an institution, it is vitally important that it is located in a country with stable politics without coups or dictatorships, with strong property laws protecting your ownership rights – Money Metals offers this feature through their non-bank specialist vault provider who ensures your holdings won’t ever be combined, used as collateral or otherwise compromised.