You may be asking how to secure your collection? Where should you keep your collection? Where is the safest place to store your Gold and Silver? Learn how to secure your collection right now.
This one is simple and should come as no surprise…
Safe deposit boxes are one of the best places to store your gold, silver, and other numismatic treasures.
You must be shocked – yes, it is that simple. I’ll explain why and what you should consider when selecting one.
First, they are relatively inexpensive. Sometimes banks offer them for free depending on your account value, you should check with your bank.
Second and most importantly they are secure. Much more secure than anything you can provide at home. The home safes you see for sale in home goods stores are no real obstacles to a thief, I doubt that it would even slow them down. Forget about hiding them, thieves know all the hiding places!
Stick with the safe deposit box.
Finally, it can be convenient. Using a box near your home allows you access to your box, probably six times a week if need be.
One thing to consider about location…
One way to mitigate your risks is to spread your gold holdings around different banks, in different parts of the country.
I don’t want to sound alarming, and I certainly hope this is never the case, but if there were a disaster of sorts that made an area or city inaccessible and you had to relocate it would make sense to be able to access some of your holdings from another area.
Depending on the size of your holding, spreading it out across multiple areas may be ideal.
Another note on securing your collection – location
One point for you to consider, the secrecy of your box.
Obviously never tell anyone about your box or when you visit it or plan to visit and take every necessary bit of security going to and from the bank with your coins and bullion.
Additionally, someone once told me it can be argued – never to take a tax deduction for the rental of a safe deposit box, and that taking the deduction would be like announcing to the entire federal government that you have a potential store of assets there. I have no opinion on this, but just sharing some things to consider.
If you need some more info on Safety Deposit Boxes check out this article from ValuePenguin – Average Cost of Safety Deposit Boxes.