3 Things to Consider Before Choosing a Private Vault Storage
If you’re investing in precious metals such as gold, silver or platinum, having a private vault storage is essential. While it is possible to store your precious metals at home without a storage vault, this is highly risky and can cause you immense losses in the event of a robbery.
This is why it’s advisable to store your valuables in a private vault storage, but before you do so, here are 3 considerations to make.
Identification and authentication are access security procedures that are extremely important for any safety storage facility. There should either be a pin lock that only you know, or some other form of confirming the identity of those who can access the vault.
The best and safest form is biometric identification, as this identifies people through their pupils and fingerprints, which are almost impossible to replicate, making it extremely safe. Other kinds also include a list of questions specifically tailored for you, that only you know the answers to. These forms of identification before access should be present.
Another important consideration to take into account is whether each individual vault is insured and whether you’re allowed to get all your belongings inside the vault insured. Also, the insurance should be coming from a reputable insurance company. Insurance acts as a safety net for the investment you have made.
With it, if anything gets stolen or damaged from the vault, you do not incur losses, and are reimbursed by the insurance company. Without insurance, even the safest vaults have a bit of risk attached.
Proximity and Hours
This is not a safety concern but is important for your convenience. You should ideally choose a facility where the opening hours match with your availability. Most people face the problem of not having free time to access their vault during open hours because normally vaults are only open from 9-to-5.
So, if you have a 9-to-5 job, do take this into consideration. Apart from this, the location of the vault should be close enough for you to access it in case of an emergency or on a moment’s notice.
Orion Metal Exchange offers everything you need if you’re looking for secure private vault storage rentals. For more information about precious metals, including gold coins, and silver for investment, visit our website.