Can I Store Gold and Silver at Home?
If you own small to medium sized collections of gold bullion, home storage may be an attractive option; however, be mindful that there are potential risks involved.
Only confidantes need to know of the presence and location of your precious metals; otherwise they become easier targets for thieves.
Safety Deposit Boxes
Purchase and storage of bullion at home can be beneficial, but investors must understand its associated risks in order to take steps that minimize them.
Precious metals stored at home are vulnerable to theft, fire and natural disaster. The best way to store gold and silver safely is in an insurance-approved safe that provides fire and waterproof protection; however, this option can be costly.
At home, it is vital that only you, a trusted next of kin or attorney know where your bullion stash is kept. Otherwise, this opens the door for loss or theft or being used against you in some form.
Additionally, safety deposit boxes can be difficult to access during bank holidays and weekends as well as times of crisis when storage providers remain closed – this could make selling or liquidating bullion difficult and may create issues during sales negotiations. It would be prudent to work with a bullion dealer that offers safe vault storage if possible.
Vaults
Store bullion at home may not be possible for all investors due to limited storage space or security concerns; for those that can, finding creative and discreet places can help protect it against potential thieves.
Consider investing in a vault and keeping your gold and silver stored there to lower both risks and costs. A vault provides one-stop storage that’s fire and flood-resistant – ideal for keeping valuable items protected against theft.
At any one time, only allow one confidant to know where your gold is stored so they can access it if something should happen to incapacitate or harm you. Vaulted options provide maximum protection, with all storage fees calculated based on daily bullion valuation; thus preventing large price changes from creating fluctuating storage charges.
Safe Hiding Places
Customers who prefer keeping their precious metals at home have various ways of safely hiding them at home, providing both security and easy accessibility. Common methods include concealing them in hollow books or burying them in your garden (like a fishpond). More rustic properties might consider time-tested practices such as placing logs or stumps around their land to conceal the precious metals.
Diversion safes, such as boxes and canisters with recloseable lids, may also help conceal your metal stash; however, this strategy could attract suspicion from nosy neighbours or children, so it’s wiser to tell only those necessary about where your treasure trove resides.
An alternative solution would be storing silver and gold bullion in an attic or basement, where thieves are less likely to target it, while freezing temperatures act as a preservation agent for your precious bullion.
Goldcore Secure Storage
GoldCore provides secure, professional storage of your bullion. Their vault locations are in countries which respect individual property rights and have laws preventing asset seizures during times of political instability. Furthermore, the company offers highly secure private and family vaults for maximum peace of mind and maximum protection.
Storage at home exposes gold and silver to risks such as theft, burglary, natural disasters and fires; to safeguard them effectively against these dangers it’s best to place them with a trusted third-party facility or depository.
GoldCore is a non-bank storage provider and uses secure vaults across the world to store its clients’ silver and gold bullion. Not only are these facilities well protected against theft, burglary and fires but they are also immune from risky government actions like deposit bail-ins and financial insolvency risks – independent ownership with no ties to banks is key; storage fees start from just 1% of portfolio value but can reduce as your portfolio value does.
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