If you are an investor in precious metals such as gold, you know that half the battle is figuring out where exactly you are going to store your precious metals. Not all of us have thousands and thousands of bars worthy of a vault similar to the ones you see in movies, and encounter a very typical problem: that is, where to store bars so they are as safe as they possibly can be without breaking the bank or spending any money at all. This is a question that does not have just one good answer but rather a variety of different ones.
In the following few sections you will be briefed on all the best ways to safely store your gold investment in the comfort of your home without necessarily spending much money at all. You would be surprised at all the simple solutions people have come up with to quell what initially seems like an insurmountable obstacle.
Discretion
When you prescribe to storing your precious metals in your own home, there is one rule that reigns supreme above all others and that is the rule of discretion. One cannot stress enough how vital to your investment’s security it is that you be incredibly discreet about your investments and the details surrounding them.
If you brag to anyone and everyone about your gold bars that are just sitting in your house you are doing a great job of enticing any criminals and are jeopardizing not only the safety of your gold assets but also the safety of your home.
It is fine to share some details of your investment activities with friends and family, but that is where it should end. In most cases many people will even tell you to avoid telling your friends any fine details about your gold investments. The value stored within the gold bars sitting in your home is too high to risk by having loose lips.
When transporting gold to and from your residence it is also imperative that you do so with due discretion. Parading your valuable around for everyone to see and envy is a one way ticket to being the victim of a home invasion. Do yourself a favor and keep the knowledge of your gold as close to you as possible.
Safe
Many investors who wish to avoid paying the hefty fees most depositories charge store their gold at home safely by making use of a safe. Home safes are a common thing for both investors and even for people who do not invest at all.
Safes come in all shapes and sizes and no matter the size of your investment there is surely a safe out there for you. A safe may seem expensive at first but spending $1,000 on a safe is better than losing $10,000 when your gold bars get stolen. Additionally, if you shop around you will be able to find a deal on a safe that is suitable for you.
Once you do acquire a safe, the next step is to place your safe in a spot that is hidden and not in a highly traversed part of your residence. Having a safe is a good thing but at the end of the day having it hidden is simply an intelligent decision because your investment will be safer that way.
Insurance
This is a facet of storing your gold bars at home that many people are not aware of at all. This tactic is insuring your gold bars and while it may seem a bit ridiculous it is incredibly viable and not very hard to do either. Insuring your gold bars works in just about the same way as insuring your car or your house. By insuring your bars you will be protected against any unforeseen events such as a house fire or robbery.
Check with your insurance provider about the possibility of insuring your gold investment. If the rates are affordable for you it is definitely recommended that you insure your investment.