How To Store Gold
With experts encouraging consumers to invest in the gold market, it’s no wonder more and more people are exploring their options about how to store gold safely and efficiently. Investors new to storing gold may be surprised by the number of options available to them and the ingenious methods some use to protect their gold assets.
- Midnight Gardening – This method of gold storage refers to the act of hiding your gold valuables in a weather-proof tube or container which you then bury somewhere on your personal property-by cover of night, of course. One benefit of this method of gold storage is that your valuables are readily available to you-provided you have a shovel-even if a disaster removes access to banks and other storage facilities. The primary disadvantage is that monitoring your “garden” can be difficult at best; unless you invest in a surveillance system, which might draw attention to a seemingly unused piece of land, you have to trust that your investments have gone undiscovered. This also requires the “midnight gardener” to keep his application of this method private to ensure no confidant betrays his trust, while taking care to list the specific location to at least one secure source in case of being unavailable for the gold's recovery.
- Home Safe – Likely the most convenient method of gold storage, purchasing a heavy-duty safe for your home can provide peace of mind and security for your investment. Home safes range from all sizes, from small and compact to large enough to require professional installation. Just remember that smaller safes-or personal safety deposit boxes-can be carried away during a home invasion. Most home safes offer protection from fire, making them an ideal place to store important documents and other important but flammable items in addition to your gold pieces.
- Bank SDB – A safety deposit box is the best choice for individuals who want to invest in a large volume of gold, whether in the form of bars, coins, or pieces. Banking institutions also offer insurance against theft, and obtaining the contents of another individual’s SDB is nearly impossible with modern technology and safety measures. For the ultimate peace of mind, investors should consider turning their gold over to professionals to ensure the continued stability of their investment.