Are Your Precious Metals Stored Safely Enough? You Can Never Be Too Sure
After investing in precious metals, you’re faced with the dilemma of where to store them securely. Choosing the right storage is crucial to keeping your investment and other valuables safe. While there are many storage options available, picking the right one won’t be a complex task if you know the pros and cons of each storage option.
In this blog, we’ve rounded the most promising storage options that allow for maximum security of your precious metals.
A Safe at Your Home
No matter how secure your storage is, there’s always some risk of potential theft. To save yourself irrecoverable loss, it’s important to diversify your storage spots and security measures. Distributing your precious metals in more than one storage location will leave you with enough backup holdings in other storages, in case one of the stashes gets robbed.
It’s advisable to go for UL-rated safes to ensure maximum safety of your valuables in case of a fire.
Secretive In-Home Storage Spots
This is the time when you can actually make the most use of secret spots in your home such as the attic, under the floorboards, behind furniture, behind the cavity wall—all these can be great hiding spots. You can also play it smart by with a diversion safe, which may resemble household items, such as a shaving cream can.
While storing your precious metals at in-home secret spots save you from storage costs, it puts them at a higher risk of damage that may decrease their value.
Bank Safe-Deposit Boxes
If you don’t think keeping your precious metals at home is safe, you can use a bank safe-deposit for your storage needs. Handing your precious metals to a reliable third-party can relieve you from the stress of protecting your valuables at all times.
While a bank is a safer option for your precious metals than home, it has its own downsides. Banks allow limited accessibility and monitor all your possessions, which means that the state has the right to seize your valuables if you’re storing anything illegally.
Thinking of investing in precious metals but afraid of where to store them? Orion Metal Exchange can ease your worries. We provide a comprehensive list of trustworthy and secure precious metal storage companies for you, so you can rest assured that your investment is stored safely.