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Now that you’ve decided to buy gold and get into true money, its time to think about properly storing and protecting your investment. There are two primary options in safeguarding your gold purchase. You may either arrange to take personal possession, or have your recently purchased gold bullion stored at a third-party insured vault.
As our CEO and Founder Mike Maloney, author of the #1 selling precious metals book Guide to Investing in Gold and Silver, is often quoted, “If you can’t hold it, you don’t own it”. Being gold and silver investors ourselves, we first prefer to take physical delivery, as this is the only counter-party free alternative and the surest way to ensure true ownership.
To Maximize the Efficiency and Security of Your Decision for Home Storage... Consider the Following:
1) The amount of space the metals will occupy.
2) Your safety and comfort level.
3) Creative means of home storage.
The Space the Metals Will Take
The most obvious consideration to address is the storage space. The relatively small area required to securely store gold in comparison to silver makes home storage very convenient. For instance, American Gold Eagles, are sold in 1 oz. increments and when ordered in large quantities are shipped in tubes containing 20 coins. A single tube of Gold Eagles fits in the palm of your hand and is about 3.5" in height with the approximate diameter of a dollar coin.
The high value, high density of gold helps as it opens up possibilities of where you can store your metals regardless of where you live or your housing situation. Thus, gold's compact form and conveniency creates an almost limitless array of possibilities for home storage.
Your Safety and Comfort Level
When it comes to home storage, an important factor to consider is your safety, peace of mind, and comfort. Your safety should be of upmost concern, thus never hold more in your dwelling than you feel comfortable to sleep well at home with.
Additionally, limit the number of individuals who have knowledge of your investment. Investment in precious metals should be a completely private decision, the less people who know about this, the less of a potential target you will be. Once you establish a degree of confidence and security with your decision you will fully understand the benefits of home storage.
Creative Means of Home Storage
Try to think outside the box and go against conventional thinking. Most importantly Have Fun With It!
Everyone usually thinks of the same typical options like: purchasing a safe and/or having an alarm system. Challenge yourself to think of multiple different means of embedding the metals. Consider ways to secure the metals 3 layers deep and away from apparent view from a burglar, who would be looking for things to grab and go. For example: In a floor safe that is bolted to the ground, covered by floor boards, with carpet and a China cabinet over it. Simply do a Google search on terms like: “storage compartments”, “secret bookcase” or other like key terms on YouTube. This will give you many creative ideas. You should be able to discover many clever solutions that the average thief would not even think of.
Once you are comfortable with the idea of having gold at home and have taken the proper safety measures, you will feel at ease and be able to understand the value of having physical possession of your bullion.
The information, opinions, and financial data presented are for educational purposes only and are not intended as investment advice. No guarantees are made as to the accuracy of the information provided herein. Situations can change from day to day. Every investor should do their own due-diligence to determine which investments are best for them.
You must assume the responsibility and liability for all decisions that you make on the basis of the information herein contained. GoldSilver.com, makes no warranties, expressed or implied, as to the fitness and accuracy of the information provided or for the results obtained by using the information. Those making investment decisions based on any of the information presented should do so in the knowledge that they could experience significant losses. In no event shall GoldSilver.com be liable for direct, indirect, or incidental damages resulting from the use of the information.