Storing gold bullion safely once you have purchased it is important. Buying gold bullion is the first step toward protecting your money. Making sure that you store the gold and precious metals that you buy safely is the second step. Then your money will be protected. There are several options available for storing gold bullion.
Storing Gold at Home
Gold bullion coins and bars are lightweight and small. You can easily store gold bullion at home if you want to make sure they are close by if you need them. For around a hundred dollars you can buy a high-quality fireproof safe that is big enough to keep gold in. You can even store gold coins and gold bars in a box or other container if you want, but experts recommend that you invest in a good quality safe. Your investment is worth protecting even if it means shelling out for a fireproof safe.
Keeping a Safe Secure at Home
You can install the safe into a wall or a floor. Or you can simply hide the safe in a secure area. But if you are going to keep gold at home make sure you don’t talk about your investment. The fewer the number of people who know you have gold bullion in your home, the safer it will be.
Storing Gold at a Bank
If you don’t want to keep gold at your home, you can rent a safe-deposit box at a bank. Many banks offer safe-deposit boxes to customers at a discounted rate. But you can also choose a bank with which you have no accounts to store your gold. Make sure that you choose a bank that has extended hours or even allows 24-hour access to the safe-deposit boxes.
Access Is Important
It’s important that you be able to access the boxes if you need to get your gold bullion in a hurry. Also, if there were a natural disaster or other event that made traveling difficult, you may not be able to access your safe-deposit box. It’s important to consider that if you live in an area prone to floods, tornadoes, blizzards or other natural disasters.
Storage Facilities for Gold
There are also private storage facilities that are set up just for precious metals. These facilities charge a bit more for storage, but their storage buildings are climate-controlled to protect the metals. Many of them also have upgraded security systems so that you can be sure your gold is safe.
Check the Hours of Operation
Just like choosing a bank to store your gold, make sure that you look at the hours each private facility is open. Gold bullion bars and gold coins are a great way to protect your money but only if you can have access to the bullion whenever you need it. You never know when emergencies might come up that require you to get your bullion.