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Six Tips for Storing Your Gold and Silver Safely at Home

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So, after you buy gold or silver, what do you do with it?

Leaving it in a desk drawer probably isn’t the best idea. Sticking it in a sock under your mattress isn’t exactly secure either. You could bury it in the back yard, but then you run the risk of forgetting exactly where you put it. And drawing a giant X on the ground might be a little obvious.

Storage is an important consideration when investing in physical gold and silver. You want to keep your investment safe and secure, but also accessible.

If you have large amounts of gold and silver, you might want to consider storing it away from your home. SchiffGold has developed partnerships with the world’s finest professional storage services. These secure vault facilities are strategically located around the world and have excellent reputations. We can help you arrange for secure, affordable storage of your precious metals.

But it’s never a bad idea to keep a small amount of gold and silver in your possession so it’s easily accessible.

Here are a few tips for home storage.

  1. Don’t be obvious. Figure it this way: if you’ve seen it on TV, the bad guys probably have too. So, no. The hollowed out fake book isn’t a good solution. The key is to be creative.
  2. Layers. Thieves like to grab and go. They want to get in and get out. Layering your hiding place will slow down and deter thieves. For instance, a floor safe underneath a bookcase will probably be more trouble than its worth. The key is making it as difficult as possible for the thief. The more he has to dig around and move stuff, the more likely it is he will just move on.
  3. Use Decoys. A safe placed in a more obvious spot with some cheap jewelry or less valuable coins inside may make a thief think he’s found your stash.
  4. Don’t tell everybody. This may seem obvious, but don’t tell everybody where you’ve hidden your silver and gold. If a lot of people know you have precious metal in your home, you’ve made yourself a target.
  5. Tell somebody. By the same token, make sure you tell somebody where your gold and silver is hidden in case you become incapacitated. You don’t want to end up like whomever hid 13 pounds of gold inside a piano and left it there.
  6. Consider a high-quality safe. If you’re storing precious metals at home, you probably don’t want to count on a safe you bought at Walmart. Buy a high quality safe to protect your investment. Our SchiffGold precious metal specialists can help you chose a safe that’s right for you.

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Interested in learning more about physical gold and silver?
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