Where Should I Store Precious Metals in My House?
Home storage of gold bullion can be an ideal option – providing it is properly protected against theft and damage. Unfortunately, not all standard homeowners insurance policies cover its value.
Depository services offer another secure option for protecting precious metals, and can often be more affordable and accessible during bank hours compared with private storage solutions. Although depository storage options don’t guarantee 100% ownership of bullion items, you will still have some control of your bullion items stored there.
1. Under the Floorboards
Homeowners may wish to store their bullion at home to avoid storage fees and have 24/7 access, however this requires careful consideration to protect precious metals.
One effective method for keeping gold bars and coins hidden is placing them between floorboards in between joists. You could also place them behind electric radiators or disused chimney stacks; large gardening pots make an excellent hiding spot since you can alter their bases to conceal hidden compartments within. As an additional protection measure, decoy valuables could serve as distractions from potential thieves that think the gold lies elsewhere.
2. Under the Staircase
Precious metals must not be placed at risk, which is why it’s essential that they’re stored safely and insure accordingly as not all homeowners policies cover gold and silver values.
Use larger garden pots that can be altered to conceal an inaccessible compartment; this would make it harder for thieves to gain entry, while soil would act as an extra fireproof layer.
Another alternative would be using bank safety deposit boxes or private vaults. Unfortunately, this may prove costly as your bullion will only be accessible during business hours.
3. In a Drawer
Many owners of physical bullion pieces also place sentimental value in them, from bronze medals from past sports achievements to sterling silver dinnerware. To protect this valuable collection from tarnishing, it should be stored in places without sudden temperature swings.
A drawer that features a lock is an ideal place to keep precious metals secure, preventing anyone from gaining access.
Gardeners frequently have large plant pots lying around that make great hiding places for gold bullion due to their size and inconspicuous base area. It is one of the safest ways to secure your bullion stash.
4. Under the Plug Sockets
Storing precious metals at home can be an ideal option for investors who desire more control of their bullion investments and wish to maintain direct access. Furthermore, it may prove practical and cost-effective.
Common household objects provide excellent places for hiding gold and silver, including large plant pots, electric radiators and attics with water tanks or insulation. There are also diversion safes on the market which look similar to everyday household objects to serve as deterrents against thieves.
No matter which method you select for storing bullion, it is vital that only select individuals know where your stash resides if something were to occur to you. Furthermore, it would be prudent to invest in a fireproof home safe to safeguard it further.
5. In an Old Computer Tower
Many people don’t realize that an abundance of gold and silver can be found in old electronics such as computers, monitors and printers that can be sent for recycling in order to reclaim this treasure trove of precious metals.
Notably, however, is that storing precious metals this way is extremely risky and should only be done if your home will remain safe from natural disasters or any type of disasters or catastrophe.
Gold bullion may also be stored in a bank vault for added protection and convenience, though this approach is more expensive than keeping metals at home.
6. In a Box
Home safes offer a good alternative for people who prefer not leaving their bullion in a bank vault, yet don’t want access hours restricted and most contents insurance policies won’t cover precious metals stored at home. Just be wary that there might be limited hours available for access.
If you decide to store your gold at home, ensure it’s properly secured by diversifying and not telling anyone where it’s been stashed! Also consider placing some decoy valuables with it to throw off potential thieves – this might include plant pots, false ceilings or hollow books as hiding places; old gas or water pipes which no longer need use can even make for great hiding places!