Finding and acquiring precious metals has been the investor’s mainstay for years. But owning physical gold or silver, for example, presents the issue of how to safely and securely store it. Precious metals are a hot ticket item for thieves as they can often be carried by hand and are worth a significant amount of money.
It is also important to remember that gold and silver can be damaged by their surrounding environment if proper care is not taken when burying them. Below, we outline seven online guides to storing your physical bullion [for more gold and silver news subscribe to our free newsletter].
- What You Need to Know About Storing Physical Gold: This article provides a good, unbiased view on three of the most popular options for storing gold. Note that the same practices for storing gold will apply to silver. This piece also sets itself apart by giving instructions on when and who you should tell about your stash of precious metals.
- Where to store gold? Home vs Safe Deposit vs Gold Vault: Though this article discusses the same three issues as the aforementioned source, this piece goes in depth into the specific costs and burdens that are associated with each method.
- Hiding Gold in All the Unusual Places: This article from Bloomberg is a bit more fun than the rest as it discusses some of the more clever ways that people choose to hide bullion. Perhaps the most interesting method mentioned is the “hiding in plain sight” option in which people may paint silver bars black and use them as doorstops, among other things.
- Gold and Silver Storage – You Have Many Options!: This article is much more focused on those who wish to hide the gold themselves rather than utilize a vault. It even goes in depth about diversion safes like a shaving cream bottle with a false bottom to hide small amounts of coins and bars.
- Storing Gold Bullion: An article that admits right off the bat that there is no “correct” way to store gold; it all comes down to personal preference. That being said, this resource goes on to discuss the most popular ways in which individuals choose to hide and store their precious metals.
- Owning Gold Is One Thing, Storing It Quite Another: A well-written piece that dives into the details behind gold storage including what investors should be thinking about when it comes time for them to choose how they will hide their bullion. The article also does a nice job of detailing services where investors can remotely store bullion and manage it with an online account.
- Personally Storing Silver Coins and Bullion: Where previous articles have all focused primarily on gold storage (though storing these two metals will feature a near-identical process), this piece is tailored specifically to those who have chosen silver as their primary precious commodity.
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Disclosure: No positions at time of writing.
