Gold and silver storage options vary, depending on which investor chooses them. Some investors may keep them at home while others keep them in a bank safe deposit box.
Home storage of bullion has its own set of potential disadvantages; not being protected against natural disasters like fires, floods and tornadoes isn’t ideal.
Homeowners’ policies usually do not cover the full value of bullion stored at home.
Safes
Bullion investors often choose to store their precious metals in a safe at home for two reasons: convenience and security. You’ll easily be able to access gold coins and silver bars when needed while remaining confident that your investments remain under your control.
Home safes don’t come without their share of drawbacks, however. When choosing to store bullion at home, it is crucial that your home insurance covers any possible losses of bullion stored there. Furthermore, to protect the value of your silver investment it must be stored safely away from moisture or heat damage; keeping its location secret would also help.
Some numismatists prefer burying their silver in the ground for added privacy; however, this should only be done in countries with low crime rates, stable democratic governments and strong property rights laws that prevent their confiscation in times of crisis.
Vaults
Customers looking for secure storage that avoids home storage risks often turn to bank safe deposit boxes as an alternative solution. While these safe deposit boxes provide ample protection, their access may be restricted depending on bank hours. Furthermore, should their institution become insolvent they risk the possibility of losing all your precious metals.
Last, it’s essential that a trusted confidant know where your gold and silver are stored so they can access it should you become incapacitated or pass away unexpectedly. Therefore, we advise telling a spouse or trusted family member of its location.
Vaults may offer the perfect upgrade from home or bank storage solutions for those ready to upgrade from their current arrangements. Staffed by professionals and offering top-tier security features like insurance coverage and chain of custody verification, vaults are non-reportable to governments; some vaults even exist in nations without as strong political ties allowing you to diversify risks more efficiently.
Security Boxes
Safe deposit boxes are one of the more popular storage solutions for bullion owners. While generally secure and near impossible for anyone other than their owner to gain entry to it – even when banks are closed – there are some key considerations when considering this storage option.
If you decide to store your precious metals at home, make sure that only trusted individuals know where and how to access them. Otherwise, your gold and silver could be vulnerable to theft or robbery and even natural disasters such as tornadoes, floods or earthquakes – increasing the risks. If storing bullion at home presents these dangers as an added worry – be aware that your assets could become exposed in ways they’re never meant to.
As such, we advise our customers to use an independent storage facility, paid solely to safeguard the gold and silver that our customers possess. Furthermore, these vaults offer highly secure facilities located in some of the world’s most stable countries.
Third-Party Storage
Customers typically opt for third-party storage of their bullion to ease the responsibility and liability associated with storing high-value metals at home, and this service is provided by many Euro Pacific approved facilities in Switzerland, Hong Kong and Singapore. These companies guarantee full ownership of your gold and provide safe storage conditions.
Storage options at home can be both expensive and ineffective if you possess a sizable bullion collection, while it can also be challenging to keep precious metals out of reach of others. To reduce theft risk, it is advisable to invest in some decoys (gold coins in cookie jar or secret safe box).
At-home storage can also be vulnerable to natural disasters. For example, if you live near rivers or seas, precious metals stored at home could be affected by floodwater or tsunamis. If burying gold, make sure it’s done in an impenetrable spot that protects it from erosion and water intrusion.
