It has been a while since I have posted here. I figured I would write something useful and informative and also keep it simple today.
When I decided to buy silver my main focus was what company to use. I finally made a decision and realized I knew nothing about how to store my silver. Silver isn’t just something you can keep under your mattress — it’s far too valuable. I did some research and decided to share my findings.
Is it Safe to Store Silver Bullion at Home?
Home storage is one of the most popular methods. You can keep your investment close by for easy access and don’t need to request permission to get a hold of your silver.
After purchasing silver, you should start researching what type of safe is right for you and the best location to put it in your home. Choose a fireproof safe because silver will melt under extreme temperatures. Also choose a good hiding place, such as a wall safe in an obscure place, a piece of furniture with a false bottom, or a floor safe. Just make sure that you resist showing off your hiding place and keep the location to yourself.
Storing Silver Outside the Home
If you choose to store silver outside of your home, you have two options:
- Rent a safety deposit box.
- Rent a space in a bullion vault.
Safety deposit boxes usually have reasonable fees and tend to have very good security. However, make sure the bank has a solid financial reputation and offers convenient and reliable access to its vault.
Many dealers offer bullion storage in allocated vaults. These are private and secure and offer a good alternative to a bank.
Insurance is Important Too
No matter how you decide to store your goods, be sure to insure your bullion and keep your investments safe. I’ll be writing another article soon about insuring your investments.
Have a great Tuesday!