The GoldSilver Team
You’ve finally made the decision to invest in gold and silver, but there’s one thing you might have overlooked—where are you going to store your gold?
Storing your gold protects your investment. While a bar of gold can be a real conversation starter, displaying it on your mantle is a perfect way for it to get damaged or stolen. The right storage keeps your investment secure and helps maintain its value.
Some people choose to store their gold in their homes, while others choose a secure vault. Here’s what you need to know about why, where, and how to store your gold to protect your investment.
Precious metals don’t come with a replacement policy. If your coins or bars are lost or stolen, they’re gone for good. They are bearer instruments, whoever holds them, owns them. If you lose your gold, the investment you made is no longer available to you. Storing your gold in a secure location helps your investment last as long as you need it.
While precious metals retain their value over time and are fairly durable, if your bar or coin is damaged, they can lose value. If you want the best price for your gold, you need to keep it in good condition. That protection will only come when you properly store your gold.
You can store your gold at home, at a bank in a safety deposit box, or in a professional gold storage vault. Each option comes with its own pros and cons and a learning curve so you can best manage your precious metals. It’s important to know more about each option so you can make the best storage choice.
The short answer is no but take precautions. Pure gold bullion does not tarnish but it’s a good idea to keep your gold in an airtight container away from silver or other items that could tarnish.
Store your gold in a plastic storage capsule, tube or sealed blister pack.
No matter where you choose to store your gold, here are two important tips to keep your investment safe.
Checking on your gold depends on where you choose to store it. If you store it at your home, you can always view your gold when you want. However, if you store it in a security deposit box at a bank, you are more restricted to when and how you can access your gold. Also security deposits at a bank are notoriously unreliable and go missing all the time. Banks also do not insure security boxes like a deposit account. If you choose to go with a professional vault, there are usually no options to access or view your gold in person to keep. In some rare cases, you can pick up your gold at the vault. But typically vaults do not allow any of the public inside for security reasons. They want to keep any knowledge of the inner workings of the vault and its security countermeasures a secret.
Gold bars and coins should always be stored to protect against damage and theft. While it is possible to store your gold bars at home, it can take a lot of time, planning, and money to make your gold secure. In most cases, it’s usually better to store precious metals in a secure professional vault. In a vault, you can sell back your gold in a few taps on your phone any time you want. And you’ll rest easy at night knowing it’s protected by armed guards and fully-insured for replacement value.
The first place people want to store gold is in their home, but exactly where do you keep gold coins and bars in your home? This can be hard to decide—if it’s the first place you think about storing your gold, then it’s the first place criminals will think about when trying to steal it.
If you do choose to store your gold at home, here are a few things you should consider for the best security.
Professional gold storage vaults are designed to protect your investment. The security company becomes responsible for your investment and takes all responsibility off your shoulders.
There are multiple benefits of using a storage vault over any other option.
Now that you know where to store gold bars, you should also decide what type of secure storage vault to choose. Gold storage vaults are either allocated or segregated. Depending on your investment, you might have a different preference for your storage.
If you choose allocated storage, your precious metals are shipped directly to the storage location, preserving the chain of custody. When it arrives at the storage location, you receive a receipt certifying that the assets belong to you, and your gold is put together with other investors’ metals.
When you go to withdraw your gold, you are guaranteed to be able to withdraw a near-identical form of gold. For example, if you stored 10 Gold Eagles, you will get 10 Eagles back. You will always receive the proper weight and quality of gold that you deposited; however, it might not be the exact bar or coin you deposited.
Segregated is the best, and most expensive, form of gold storage. Segregated storage keeps your investment separate from all other deposits. It provides the assurance that what you deposit is exactly what you will withdraw.
This level of security and separation can be helpful if you have coins with deep emotional value or prefer to know your gold is secure and that your individual pieces will be returned to you in the same condition you deposited them.
Secure your gold today with GoldSilver vault storage. Our integrated storage options provide you with the security and peace of mind you need. We understand the value your gold has to you and give you total control of your gold throughout the entire process.