How to store bullion safely and securely
Investing in bullion is an attractive way of safeguarding your wealth. Whether you wish to secure your fortune, or you’re passionate about making silver coin collections, your return on investment may be greater than expected. Still, you need to find a safe way to store them, without putting your well-being, and the silver’s integrity, in jeopardy. It is obvious that if you choose to invest money in silver bars, it is not wise to store them in your home. The quantity is rather large to deposit, and if anyone ill-intentioned finds about them, your residence may be a target for burglars. Also, if you know your coin collection is highly valuable, or you have large amounts of silver already, you may want to know it stored in a safe place. A home safe may be an option if you don’t have too large quantities, but it may attract people that will wish to break it.
1. Bank storage
A bank is an excellent option. They always have the highest security, with locked rooms, cameras, security guards and reinforced buildings. No one, except you, will have access to your deposit. Knowing that your precious metal is not in your house will give you some piece of mind. In today’s times, when there are so many looking for a rapid and secure income, anything can happen to your house while you are away. Banks will offer you two possibilities of storing your valuable assets. You can either take a safety deposit box or opt for the bank’s vault. Here, it depends very much on the amount of silver you will need to store. Safety deposits boxes are usually not very large, but will go great if you have smaller bars or coin collection. Still, the boxes will be only for private use. In the vault, more people will have their goods stored, so access must be granted for all. Of course, not that this can be a danger, but some may not appreciate that.
Banks are extremely safe, but you must take into consideration some aspects. One, you will have to pay a fee for using their storage space, which differs according to the size of the space you need and values deposited inside. Also, if you wish to have access to your deposit, you will have to go to the bank during their working schedule. That can be a draw if you will face a financial emergency when the bank is closed.
2. Secret Safes
The method implies having a safe in your house, but in an area where it is not noticeable and no one knows about it. If you have silver bullion amounts that range from small to medium, this method is great for you, as it will save you from the roads to the bank and respecting its schedule. You just need to take a safe, and find a hidden place in your house where you can put it. Whether you hide it in a wall, in the basement, floor, or other innovative areas, the point is to camouflage it entirely in the house. Raise walls around it, paint it in the color of the house, even place tiles and make it look like a regular corner of your house, perfectly blending in with the rest. But remember to find a way to leave the door at your disposal. Also, putting them behind a bookcase, or obvious places, where people will not think to look, is also an excellent method to hide the safes. And make sure you don’t share this type of information with no one, maybe with one or two persons you trust in the highest degree.
3. Offsite storage
Storing in your country and/or city of residence makes sense, but it’s also sensible to store your bullion outside of your own home. Some often used options are storage facilities and country homes. Remember that a storage facility typically won’t cover for any losses incurred. So be sensible how and where you store and how much you store in a single location. A good rule of thumb is to never store more in one single location that you can afford to loose.
4. A precious metal depository
Now this is a method useful especially for the people that have a larger amount of silver to store. These types of depositories have a very high degree of security, the depositing spaces are kept under close monitoring, and nothing goes in and comes out without being checked. Also, the climate and moisture levels are kept under control, making sure the precious metals are stored in the most favorable environment, avoiding any risks of altering their state and appearance. All perimeters are filmed and recorded, so security is kept to the highest standards here. They also make periodically inventories to the deposits in the facility, keeping a record of the amount of precious metals existent in each deposit. Thus, they take all the measures to prevent loss or theft. Also, they offer insurance for all the deposits, so if anything is missing or it is damaged, the customer will receive compensation.
5. Reliable bullion distributors
The best way to know that you are investing and storing silver bullions in a proper manner is to work with reliable bullion dealers. Not only will they provide only top quality bullions, but will also be able to offer support when it comes to the best storage methods. After all, they deal with this issue every day since they have to store their silver bullion quantities somewhere, before selling them to the final client. Thus, avoid doing business with silver bullion distributors that don’t inspire trust. The best way to find out about their reputation is to check their mark and history. Unknown marks should be avoided because multiple reasons. For instance, you won’t be able to sell your silver bullion if the mark is not known. Also, the quality of the bullion can be doubtable, and they might not be able to help you with the storage of your valuables. Reputable bullion distributors will put their knowledge and services for the benefit of their customers. So it is easy to tell with whom you should close a deal when it comes to silver bullions. It is easy to understand that once you make such type of investment, you will also want to know it safe. It is why the top of the line distributors will be there for you when you need a storing solution, especially if you are one of their customers.
Please click below to access the best bullion distributors
BullionStar.com Singapore – cheapest bullion
Liberty Silver Estonia – cheapest bullion