How to Securely Store Your Gold and Silver Collection: 4 Things You Should Know
Gold and silver are precious metals that have had great value for millennia. When you buy gold, you immediately recognize its importance and realize that it must be stored carefully. You’re undoubtedly also aware that gold coins and bars have no replacement warranty—if you misplace them, they’re lost forever. Furthermore, there isn’t a claim to cash them back.
Hence, when you invest in gold, you also need to make a storage plan to keep them safe and secure. There are many options for you to store them. We’ll discuss some best storage options you should consider for storing your gold and silver.
STORING YOUR PRECIOUS METALS AT HOME
One of the most common places to store gold is your home. You have to make sure your home is safe and secure. The location of gold and silver storage shouldn’t be disclosed to many people for maintaining confidentiality. Another advantage of storing gold and silver at home is that it can provide you with a readily accessible asset option in an emergency. You don’t have to go anywhere to get your gold if it’s safely stored at home.
STORE YOUR GOLD AND SILVER IN BANKS’ SAFE DEPOSIT
Another common location to store your gold is the bank’s safe deposit box. It’s a secure place and is heavily protected. Many investors of gold and silver use banks’ gold deposit boxes to store their precious metals as it provides a safer option. Of course, a significant disadvantage of keeping at banks is that your cash isn’t readily accessible for you n case of a bank holiday or if the banks are closed. But it does provide more security and protection to your gold bullions and silver coins.
STORE YOUR GOLD AND SILVER IN A THIRD-PARTY STORAGE
Some investors who don’t trust banks opt for third-party storage to secure their gold and silver. Third-party gold storage also offers extra security, and some even offer 100 percent insurance for your gold collection. This is also similar to the bank’s safe deposit service but takes the edge in providing insurance and offering 24/7 delivery service of your gold and silver. As a result, many investors opt for third-party storage when storing precious metals in a bulk amount.
STORE YOUR GOLD AND SILVER IN A SAFE
Another way to store your gold and silver collection is to keep it in a safe at your home. This way, it can be more secure and readily accessible for you to use in an emergency. If opting for gold storage in a safe, you must purchase a safe with maximum security and protection. These days, storage safes are easily broken into by thieves. So it would help if you were extra careful when choosing the safe and its location in your house.
ARE YOU INTERESTED IN GOLD AND SILVER PURCHASE? CONTACT US NOW
Purchasing and storing precious metals can be a tough ask. When purchasing them from a precious metals investment dealer, you have to be careful of the quality and price. Looking for one? We have got you covered. Orion Metal Exchange helps their client to invest in gold and silver. We have over 50 years of experience in offering valuable services to our clients. We offer gold bullion bars and coins, silver coins and other precious metals investments.
Contact us today to book an appointment.