Should I Keep Gold and Silver at Home?

An old Wall Street maxim states: “Invest 10% of your wealth in gold,” as precious metals act as portfolio insurance against collapse of currencies and fiat money systems.

Store your precious metals safely at home can present some challenges. First and foremost, it is critical to remain discrete when choosing your location – an experienced criminal can quickly discover most stashes.

10% of your wealth

Hoarding some precious metals at home can be an excellent way to ensure that you have tangible assets available in case the economy goes into decline, but it is essential that you understand all associated risks.

The main risk associated with precious metals ownership is theft. There are various strategies you can employ to mitigate this risk, including burying them in your backyard or keeping them frozen (though stories of gold-stealing thieves have made headlines). You could also store them away in closets or safes around your home; just be careful that only certain people know about their existence and update your homeowners insurance to provide adequate coverage for all valuable assets.

Home storage of precious metals presents another key consideration; access may not be as immediate should there be a financial or geopolitical crisis or event, especially if you lack the funds available to quickly get to your bullion reserves.

20% of your wealth

Some investors opt to keep part of their bullion at home for various reasons, namely avoiding deposit storage fees, having more convenient access to precious metals, or believing it could provide better insurance protection than depository storage or bank vault storage options.

Recommended practices suggest those looking to store gold and silver at home keep only a limited amount, and secure enough insurance coverage.

When concealing metals at home, make sure they’re hidden in an inaccessible spot that is out of reach of anyone and inform as few people as possible about your stash to decrease the likelihood of theft in an emergency situation. Burying bullion behind an electric radiator may prove helpful as an effective hiding spot that would prevent thieves from using metal detectors to locate your precious items.

30% of your wealth

Gold and silver can be safely stored at home, though you should give some thought to how you’ll store them. Burglars target precious metals so if you opt to keep your precious metals under your mattress or in your backyard it would be wiser to invest in a safe specifically designed to store such valuables rather than hiding them outright.

Precious metals offer an effective means of safeguarding against financial collapse, political unrest and global economic turmoil. Without any credit risk and maintaining their purchasing power through inflation and currency devaluation – plus they don’t tie directly into other asset classes such as stocks, bonds or real estate.

Gold and silver investments should represent only part of your overall portfolio; you should allocate however much is suitable. But always remember precious metals should only serve as insurance, not replacement investments for your traditional portfolio. Save for what truly makes life worth living like family vacations or mortgage payments by saving as much money as you can for these tangible goals.

40% of your wealth

Some individuals believe it would be wise to store some precious metals at home, however this decision must be based on personal preference, financial circumstances and risk tolerance.

Storage of precious metals at home presents several risks. Burglaries occur every year, potentially leaving your bullion vulnerable. You can mitigate this risk by hiring a dog or investing in an effective security system; however, such measures should only be employed if your bullion won’t support daily living expenses in case of crisis.

Concerns arise from not having at-home storage insured. Therefore, it’s wise to only reveal your stash to limited people and refrain from posting about it online – doing so will reduce the chances that someone reports you to police if your belongings go missing.

Raymond Banks Administrator
Raymond Banks is a published author in the commodity world. He has written extensively about gold and silver investments, and his work has been featured in some of the most respected financial journals in the industry. Raymond\\\'s expertise in the commodities market is highly sought-after, and he regularly delivers presentations on behalf of various investment firms. He is also a regular guest on financial news programmes, where he offers his expert insights into the latest commodity trends.

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