If you’ve decided to invest in physical gold, you’ll need to know where and how to store it properly.
Here are some tips to help you get started. First, understand that you have two main options for storing your physical gold — at home or at a safe-depository.[/vc_column_text][dt_vc_list]
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Keeping your gold at home
Keeping your gold at home offers the benefit of quick and easy access to it, though you need to have a secure spot and monitor it carefully.
Consider using a fire-proof safe, locking cabinet, or even a safe room. You should also insure your gold.
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Storing your gold at a professional third-party entity, such as a bank, depository or other service.
These third-party organisations have specialised storage facilities and expertise that can make your gold storage secure. However, be aware that this can cost more than storing your gold at home and you’ll likely have to pay for both storage and insurance if you use a third-party.
Whichever option you choose, there are a few other tips to keep in mind as more suggestions for keeping your gold safe:
Always keep your gold in a secure storage spot: Keep your gold in a secure place like a bank safe-deposit box, or an expensive, fire-proof safe that is kept at home.
Don’t move your gold around too often: Moving your gold around too often can make you more susceptible to theft.
Consider using a third-party storage service: If you’re storing gold at home, consider hiring a professional third-party storage service to keep it safe. This will help ensure that it is kept in a secure environment and monitored by professionals.
Keep a record of your gold: Make sure to keep track of what you have and where it is located. If you use a third-party company, it will be their responsibility to keep a record, but you will still want to make sure you know what is being stored and where.
Invest in appropriate insurance: Make sure to insure your gold with a company that is knowledgeable about gold and understands its value.