My Precious! Why You Should Consider Storing Precious Metals in a Vault
Planning to diversify your investment portfolio? If you are, investing in precious metals is a smart choice. Considering how uncertain global economic conditions are, a high demand for precious metals, and supply constraints, it’s an ideal time to invest in precious metals to hedge against currency risks.
However, there are certain factors you should consider before making an investment; the most important one being storage and security. You have several choices to store your precious method. Let’s look at a few of them.
Storing your precious metals
Precious Metals Depositories
Precious Metals Depositories are well-guarded establishments that allow you to store precious metals. They have moisture control facilities along with top of the line security to ensure that your assets remain safe and secure.
You can also store your precious metals in a bank, either in their vault or in safety deposit boxes. However, there are two disadvantages to choosing a bank to store your investment. First, you have limited accessibility. Second, you have to pay an annual fee which can cost up to $500.
If you have to store a limited quaintly of precious metals, secretive storage will do the trick. Simply find a spot in your home that you can keep concealed and hidden. Perhaps get a hollow book, hide the precious metals inside, and hide it in your closet.
Vault—the most recommended method
A vault is a secure method to store your precious metals in your house. They are operated via digital code or combination, making them extremely safe and secure. They are also made from durable material which can withstand damages caused by flood or any other natural disaster.
There are different sizes and qualities of vault available in the market. You can also purchase a manual vault, but it’s better to go with an electric one. To ensure the safety of your precious metals against fire, make sure to buy a UL-15 spec or higher rated vault.
The bottom line
All of these methods are a great way to keep your precious metals secure. You can choose one depending on your preference, ideally the one that gives you complete peace of mind. We suggest that if you live in a secure neighborhood, the best way to keep your precious metals accessible, safe, and secure is using a vault.
Just make sure to keep the knowledge of your precious methods limited to yourself and your loved ones whom you really trust to ensure that no one attempts to go after your precious investment.
If you’re looking to invest in precious metals to diversify your portfolio, contact Orion Metal Exchange. Based in Los Angeles, we’re a leading Precious Metals IRA dealer that provides excellent precious metal investment and storage solutions to our clients. We can help you with secure gold and silver storage to ensure your precious metals remain safe and secure. For additional information, give us a call at 1-800-559-0088 or visit our website.