Storing Precious Metals – A Guide for New Investors

Posted - April 26, 2023
Storing Precious Metals – A Guide for New Investors

Storing Your Gold and Silver

Precious metals storage is a core skill that any hopeful investor should learn before putting their money on gold. Investing in gold and silver has always been a popular option for those who choose to hedge against inflationary periods. Historically speaking, this has proven to be a wise choice. But your investment quickly becomes worthless if you allow your coins or bars to get stolen or damaged. Let’s consider some available options for proper precious metals storage. 

Investing in precious metals is a highly recommended strategy for diversifying your portfolio. But without the proper storage and handling tools, your precious metals investment could lose significant value over time. 

Home Storage of Your Precious Metals

A quick and easy solution when it comes to storing your gold and silver is to simply lock it all up in your home by way of a secure vault. This does allow some sense of security as a result of the proximity to your precious metals. It’s all right there, immediately accessible. 

However, this is as vulnerable as it gets when it comes to proper precious metals storage. Home vaults can be tricky to crack but when it comes to aggravated burglary of a home, a potential burglar might force the investor to simply hand over his or her gold and silver. Therefore, most investors look for more secure options. 

Storing Precious Metals in a Safety Deposit Box

Though banks are also susceptible to aggravated burglary, it’s a far more rare occurrence. Even if a bank is burglarized, thieves know to be on a tight schedule and generally won’t bother with safety deposit boxes as the two-key security system would require the leaser to be on the premises at that exact time. The point here is that the theft of your stored precious metals would prove to be a timely and logistical nightmare. 

One thing to note is that banks do not provide for insurance as it comes to storing precious metals like silver and gold. It would be up to the investor to purchase insurance through the bank in order to absolutely secure these investments. Proper precious metal storage requires investors to understand their level of insurance liability, and researching the subject is the best way to learn. 

One last con in this area centers around the fact that access to your stored gold and silver is limited by your bank’s hours. If you have any need whatsoever of your precious metals during evenings or federal holidays you would most likely be out of luck. 

Storing Precious Metals - A Guide for New Investors

Store Your Precious Metals in a Depository

A more recent option comes by way of what is called ‘Vault Storage’ or depository. Like a bank, access to a depository is limited to its hours of operation. However, unlike a bank, your precious metals would be stored in a sterile environment designed to protect your gold and silver from elements such as extreme heat. As well, depositories typically accept responsibility for insuring the storage of your silver coins, bars, or other bullion products.  

Some major bullion dealers will actually keep your gold coins, silver bars, or other bullion items in their vault for a nominal fee. This is a great tool for investors, as it allows you to get all the benefits of secure precious metals storage without the risks associated with keeping precious metals at your own home. 

How Will You Store Your Gold and Silver

Ultimately, it comes down to which option gives you the most confidence. Some due diligence can go a long way here. So, examine your needs, the nature and value of your precious metals and choose the storage method that works best for you and your family.  

About The Author

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Hero Bullion provides an environment that is informative and safe for those looking to own physical gold and silver bullion as an investment. We love helping folks at all stages throughout their bullion journey making progress towards acheiving their financial goals. Whether you are a seasoned bullion investor or brand new to the game of gold and silver bullion ownership, we're here to help and serve you in any way we can.