Storing Gold At Home

Now that you’ve invested in gold and silver bullion, don’t forget about properly storing and protecting your investment. There are two main options in storing your gold purchase: you can have it stored by a third-party such as a depository or bank deposit box, or take personal possession.

Benefits of Home Storage

Many investors prefer to store their gold at home because they worry about the difficulty of accessing their gold in the event of an economic crisis. They feel that physical possession is the only way to ensure true ownership. If you wish to access your gold, there is no need to contact a bank or depository and wait for your investment to be shipped to you. With home storage, you have exceptional liquidity because you can sell or trade your metal 24/7.

There are other good reasons to store your gold at home. Many people prefer to store gold at home because it is very private. Another benefit is that at-home storage of gold is free, while depositories charge a monthly or yearly fee.

Risks and Concerns

On the other hand, keeping a significant amount of gold or silver in your home can be risky if you do not take the right precautions to protect your investment. Just as when storing any valuables or cash in your home, it is important to keep your precious metals safe from theft, fire, or other catastrophic events.

In order to sleep well at night, never hold more gold in your home than you feel comfortable. If you feel that it is too big of a risk to keep your entire investment stored in your house, consider keeping just a few gold coins so that you have them on hand in case of emergency.

If you do choose to store your gold and silver at home, use discretion. It can be tempting to pull out a gold bar to show off, but investment should be a private decision. Limit the number of people who have knowledge of your collection to reduce the chance of becoming a potential target.

Safes and Alarms

For the best protection, store your precious metals in a safe. Fortunately, the relatively small area required to store gold makes home storage convenient. The high value and density of gold means that even a small home safe is large enough for most physical gold investments.

If you opt for a home safe, make sure the safe is physically secured to the building, to prevent a thief from taking the entire unopened safe. Other investors keep their gold in the walls or ceiling of their home, or bury it on their property.

Think about additional ways to keep your gold stash away from the view of a burglar. Consider installing a home alarm system for further protection. Finally, make sure that your homeowner’s insurance is sufficient for covering your precious metal collection. If in doubt, contact your insurance agent to ensure that your investment is covered.

When it comes to home storage of gold, an important factor to consider is your security. Once you have taken the proper safety measures, you will feel more comfortable having physical possession of your coins and bullion. Precious metal investors agree that peace of mind is worth its weight in gold.