Gold and silver investing can add significant value to your portfolio, but you must keep certain key considerations in mind prior to increasing your holdings of precious metals at home.
Experts generally advise investing 5-15 percent of your portfolio in hard assets like gold coins and bars.
When it comes to the storage of gold and silver, there are numerous options available – from at-home options through safe deposit boxes in banks to depository warehouses.
At the core, finding an optimal way to store precious metals depends on your own individual circumstances and goals for investment as well as security needs.
Home storage of bullion is an attractive solution for smaller quantities, and may prove effective. To protect the value of your investments and ensure their long-term viability, however, diversifying holdings between multiple locations should also be prioritized.
Burying bullion underground in an airtight and waterproof container is another popular method. While this provides better protection from fire and theft, it does come with some risks.
If you own an extensive collection of gold or silver coins and bars, it’s crucial to secure them against theft by placing them in an at-home safe or secured storage facility.
Your gold and silver will be insured under different policies depending on their value, so shop around to get the best price on an insurance policy that covers it all.
As well as standard homeowner policies, coin and valuables insurance provides protection from theft, fire, and natural disasters.
Note, however, that most home insurance policies only provide limited cover; typically paying up to $250 to replace bullion, coins and other valuable items.
If you own gold and silver bars or coins at home, it is vital that they remain hidden from those who might attempt to take them by force. This is especially crucial if you live with someone who may require access in an emergency situation.
If storing precious metals at home is no longer an option, alternative ways can help protect them safely without risk of theft. Many times these solutions can also be more cost-effective and less intrusive than investing in a safe.
One of the easiest and cheapest ways to hide gold and silver is to conceal it as common household items, such as food items such as sugar, flour or coffee. Furthermore, hiding coins inside refrigerators or freezers will keep them fresher for longer.
Banks offer safe deposit boxes as a secure place to store gold and silver assets, which come in various sizes for annual rent.
However, for optimal security consider investing in a private vault that’s equipped to withstand fire, floods, or any other natural disasters. These facilities have reinforced walls designed specifically to keep out unwanted visitors like burglars.
Some individuals prefer storing smaller gold and silver items in lockable jewelry boxes or safes. This method provides an ideal way to protect them from scratches or dents caused by larger items, but should be done so separately for safety.
Considerations should be given to your unique circumstances when determining how much gold and silver to keep at home, including insurance policy coverage, personal needs and the ease of storing these metals.