Gold $2,428.30   $-26.10  Silver $29.65   $-0.40  Platinum $972.40   $-7.60  Palladium $933.00   $-6.20

One of the first things every investor in precious bullion has to contend with is how to store it. Since gold and silver bullion are precious commodities, you cannot just leave them in a desk drawer. The rigid shape of these items also makes a mattress a terrible hiding spot. Some people may take the pirate approach and bury their booty, but this carries the risk of forgetting the exact location. To safely store their gold or silver bullion, San Diego precious metals collectors should start with the following tips.

1. Avoid the Obvious

The simplest way of explaining this approach is if you saw it in a film or TV show, assume thieves will have seen it too. In other words, don’t assume you’re the only person to have seen a piece of media where someone hides something precious inside an urn, even if said urn actually does contain someone’s ashes. This also rules out the trope of hollowing out a book to use as a storage chamber, which also ruins a perfectly good book in many cases. Get creative.

2. Don’t Stop with One Layer of Security

Most thieves are opportunistic criminals who focus on taking as much as they can with as little work as possible. Treat your bullion like a Russian Matryoshka doll and hide its container within one, two, or even more subsequent layers of security. The more a thief has to go through to stumble upon your valuables, the more likely he or she is to give up. Keeping a safe secured under your floor is two layers, but placing a heavy item like a bookshelf or a nightstand over the access point is even better.

3. Use Deception

Keeping a safe in plain view and making little effort to protect its contents can be an excellent way of distracting thieves from your actual treasure. Feel free to stock your delaying tactic with costume jewelry, common foreign coins, or anything else a thief might take because it “looks” like valuables.

4. Inform Someone Trustworthy

While it makes no sense to let everyone know you have precious metals hidden somewhere, you also don’t want the cache to go undiscovered forever. Telling someone like your partner or best friend ensures you have a failsafe plan in place if something untoward happens to you.

5. Get a Safe

If you’re serious about storing precious metals and keeping them secure, you should consider getting a high-quality safe for the job. Don’t hide several thousand dollars’ worth of gold and silver in a combination lock safe you bought for $35 at the local discount store.

Whether they’re looking for expert advice on storing precious metals or they’re looking for the best San Diego gold coin dealers, collectors should work with trustworthy experts who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to invest in precious metals, including gold, silver, platinum, and palladium. Give us a call today at 858-666-6570.

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. 

By |2021-01-25T05:14:48-08:00April 20th, 2020|Miscellaneous|0 Comments