When buying gold, among the many considerations you need to make is how you’re going to store it. Gold is not only expensive and precious, but also rises in value over time, which means you need to be extremely careful about where you choose to put it and who you choose to tell.

The vault at the bank are popular storage options for many, but some people like to keep their precious metals closer to them. If you choose to store your gold at home, make sure you consider these three factors before you make the decision.

Choose a Confidant:

When storing your gold at home, at least one other person should know where it is. Gold is a huge investment and people usually buy it to support them through their old age when they retire or for their children to use when they grow up.

Keeping this in mind, in case of your unforeseen demise, one other member of the household should definitely know where the gold is kept.

This should ideally be someone you can trust blindly, who won’t tell anyone else, or won’t have any malicious intent. A spouse or parent is a good option. Make sure the exact location of the gold remains secret.

Store it 3 Layers Deep:

When storing gold, you must think like a thief. Most thieves will not bother digging for things and will take whatever they find on the surface and then leave. This is why you should hide your gold three layers deep.

If it’s in a closet, keep it in a locked box, in a drawer, within the closet. Thieves will rarely dig that deep. To disguise its appearance further, you could fill the drawer with clothes or socks, so anyone rummaging through it won’t be tempted to dig deeper.

Invest in a Home Safe Storage:

The safest option is for you to invest in a home safe storage. These usually have an electronic number code that can be used to open the safe. Again, only you and one other confidant should know this code. Home safes are also best kept inside closets or in slightly hidden spaces. It’s best if you bolt them to the place you keep them.

If you’re confused about how to invest in gold, Orion Metal Exchange is the perfect solution for you. With top gold IRA accounts and private vault storage facilities, Orion Metal Exchange is your all-in-one solution to the world of precious metals.

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