Purchasing gold can be a great way to invest your money, but there may come a point where you need to consider where your precious metals are going to be stored. While there aren’t any legal regulations about storing gold in your home, there are a few important variables you need to consider. When it comes to possessions as valuable as gold, you should always err on the side of caution. The experts from First National Bullion, the gold dealers Carlsbad collectors trust for high-quality service and exceptional knowledge, offer a quick look at some of the things to consider when you’re determining how much gold you should have in your home.
Safety
The very first thing you should think about when keeping any valuables in your home is if you’re going to be a target for burglars. It’s an unfortunate fact that millions of burglaries take place every year, and you don’t want to have your investment wiped out by a single criminal. That being said, there are a few simple security measures you can take to greatly reduce your risk of becoming the victim of a burglary. This includes keeping a dog in your home, investing in a high-quality security system, and ensuring your gold is hidden at all times.
Insurance Complications
Your home insurance policy is another important part of the equation you’ll need to think about. While it might be tempting to simply cover your entire gold collection with an insurance rider, that can be an expensive option. Getting your insurance provider to pay for the full value of the gold if its price has spiked will be particularly difficult as well. If your insurance isn’t going to cover the full value of your gold, you should probably only keep an emergency stash in your home.
Finding the Right Home Storage Solutions
Gold typically doesn’t take up too much space, but that doesn’t mean you won’t need to spend a little bit of time figuring out the best way to store it. Hiding it away can work in some situations, but a dedicated or desperate criminal can find most stashes in a very short amount of time, which is why most experts agree gold should be kept in a high-quality safe that’s bolted to the foundation of the home. No matter where you decide to store the gold in your home, you must always make sure you have one confidant who has access to it.
When to Consider Other Storage Options
If you think you could be targeted by criminals or your gold collection has grown too large, it might be time to consider alternative storage options. Luckily, most cities have companies that offer private vaults and safety deposit boxes that can be used to store precious metals and other valuables. When you’re choosing a company to store your gold with, you should always go with a reputable business with world-class security measures that are going to keep your investment safe.
For information on any aspect of buying, selling, and owning precious metals, call on the experts at First National Bullion and Coin. If you’re looking to buy Carlsbad gold and bullion, you can trust our reputable dealers. We’re a boutique precious metals firm with experienced professionals, and we work hard to keep our investors informed with the most up-to-date market intelligence. If you’re looking to add precious metals to your portfolio, call us today at (760) 253-8072.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.