Why The Smartest Places to Hide Precious Metals Might Not Be So Smart
A simple online hunt to find ‘innovative approaches to camouflage’ or ‘inventive ways to secure’ precious metals at home will convince you to save a few bucks by refusing to keep them in secure private vault storage rentals.
It may sound like a brilliant idea until the day you realize you’ve caused more damage than good.
Let’s see why.
Amid the global health crisis, the USA’s economy has been volatile; people have become unemployed, frustrated, and fearful. This has resulted in a rapid rise in theft-crime rates.
It was recently reported that a person lost his entire savings when someone stole $300,000 worth of American Eagle silver and gold coins from him. Several other such cases have been circulating in the headline news every now and then.
Let’s take a look at some of the most common situations where hiding valuables at home is destined to fail miserably.
- Hiding them in your back yard, beneath 4 feet of soil, will still not guarantee security. This is because most thieves use metal detectors during their home invasions. Metals buried deep underground can also be detected in an instant, depending on the soil’s texture.
- Smartly hid under the hole behind your concrete floor, beneath the staircase, or behind fake electricity outlets? Thieves are definitely smart enough to check for all unusual hiding places, including your airtight flour and rice container as well as beer cans.
- In case someone is lucky, and the thieves are unable to reach them, it’s highly likely that if an unfortunate event such as a fire breaks out, they’ll be left behind or damaged.
- Not taking appropriate and adequate precautions such as keeping bullions in protective cases, tubes or layers, while storing precious metals may cause structural damages, tarnation, or deterioration because of oxidization. The extra cost of waterproofing the area is just not worth it!
Now Let’s Come Back to the Best Way of Storing Precious Metals
A precious metals storage facility is always the best option to secure gold and silver bullions or coins.
Along with optimal security levels, storage facilities also provide moisture or climate control options and have space to house large amounts of valuable assets.
Orion Metal Exchange offers a one-stop solution for everything you need while looking for a secure private vault storage facility.
Consumer Affairs has awarded us as the ‘top-rated precious metals IRA dealer’ to make all transactions of our customers secure, quick, and easy! For more information about SD-IRA’s, precious metals, including gold and silver investing opportunities, contact our experts.