Methods on how to store gold will vary depending on why you are buying gold and how readily you want it on hand. You might be buying it as an investment, to have the gold on hand in case of a disaster, or a combination of those. The reason you buy it will decide how you want to store it.
How to Store Gold Bought For Investment
- Buy through companies that store the gold for you. Let them take care of everything. This is probably the best if you are going to be buying and selling often.
- Use a storage company that has personal storage units where your gold is kept separate. This might be used if you buy gold coins that are a specially minted series.
- Use a storage company where the gold is all kept together.
- Use a bank deposit box.
Your choice here will probably be determined on how often you will want to buy and sell, and the ease the facility will fit in with your plans.
How to Store Gold Bought In Case Of Disasters
- Use a bank deposit box. This will depend on how widespread a disaster you are thinking of. Depending on the situation, there may not be access to your box.
- Keep in the house. Here you will have several options.
- Traditional safe behind a picture or in the floor
- Hide somewhere in the house
- Hide in a book
- Put gold into a pipe and install it next to the real pipes.
- Put in false lining of a suitcase, it is ready to go if you need to
- Store with food in a can or in the middle of the toilet paper. Watch the weight doesn’t give things away.
- Store in the garage in the tools
- Store buried in the laundry product.
- Bury your gold.
- Bury a safe
- Bury in the ground, and bury something else on top of it to be found first
- Put underneath something when you build in the yard
If you are planning on a natural disaster, you will probably want to have your gold in small pieces, so small value or size coins may be the best buy. That way you will not have to over pay, and you will be able to keep hidden how much you have. You may also want to put the gold in several different places, so that a thief would not get it all. At the same time, the more hiding places the gold is store, the more the chances of someone finding it.
Some buyers of gold are also worried about the government and keep it hidden so it remains unknown how much they have. Keeping it at home is an option here.
If the gold is kept at home, you should tell no one about your purchases. The saying, “Loose lips sink ships”, applies. The more people who know about gold in your house, the more chances of robbery. Be careful about the company installing any safes that you use. Think of ways to confuse anyone with knowledge of the safe. Installing two safes with two different companies and splitting the gold between them might be an option.
If gold is stored for an investment, and you are not actually going to be handling it, the choices are pretty straightforward. Storing it at home needs a little more thought. If you are planning to store a significant amount at home, plan carefully how to store gold in your house safely.