Whether you store your coins and bars professionally or keep them at home, you'll want to make sure your bullion bars are properly protected from theft and damage.
What are my gold bullion storage options?
Once you've purchased gold, silver, or platinum, the next important question is how best to store your new bullion purchase. Safe and secure storage is one of the most important aspects of owning precious metals.
You have two primary options for storing your precious metals. You can either receive the bullion and take care of it yourself, or you can have a professional store or place it for you.
Storage at home - what do I need to consider?
Not many people feel comfortable keeping gold in their homes in case it is stolen or damaged. However, if your personal preference is to store bullion at home, consider the following:
The amount of space the coins or bars will take up.
Ensure that they are stored properly in the appropriate environment, away from moisture and other corrosive materials.
Not discussing its location even with friends and family. The fewer people who know you have bullion in your possession, the better. However, with home safes, it is often suggested that someone else has the information to access your bullion in case anything happens to you and you are unable to access it.
Do not store gold and silver together. Keeping them together can damage and tarnish the metal.
Whether or not you have adequate insurance. Your bullion wallet may not be covered by your contents insurance. You may need to consider specific insurance.
I am looking to purchase a safe - what do I need to consider?
First, you need to make sure you have somewhere to put the safe where it will be locked securely and out of sight. Ideally, it should be a place where you can anchor it to the ground so that it is not freestanding.
If you're looking to buy a safe, you'll also want to make sure that the value it's rated for is enough to cover the value of the items stored inside. In general, the treasury is given a "cash rating". Cash rating is the level of coverage the insurance underwriter gives to the cash contents of the safe. This is usually multiplied by 10 times for jewelry and bullion or similar valuables. Therefore, the cash rating is also a very good indicator of the security level of the safe, the higher the rating, the more security provided.
You should also consider if you need a safe to be fireproof and waterproof because these safes can also provide protection for other valuables such as paper documents. Many people choose a waterproof fire safe because of the high level of protection they provide for documents and paper money..
Third Party Storage - What do I need to consider?
1. Security
Ensure that the security is high enough and that the bullion is protected from theft and damage.
2. Ownership
Do you maintain secure possession of your bullion?
3. Accessibility
Find out if you can access your coins or bars at any time or withdraw them in some cases.
4. Protection
Ensure that precious metals are protected from contamination.
What are the benefits of storing gold at the Royal Mint's storage facility, The Vault?
If you purchased any coins or bullion bars from The Royal Mint, you can take advantage of having them stored in The Vault, a state of the art storage facility. The benefits of doing so are:
Your physical gold is kept in The Vault, behind the gates of our highly secure location.
The site is guarded 24/7, 365 days a year by trained security staff, providing you with unparalleled security and a service that promises absolute confidentiality and discretion.
Your bars will be given a serial number and will be fully assigned to you.
Your coins and bars will be fully secured.
You can choose to pick up at any time.
Your Royal Gold Bullion Coins will be fully separated and stored in individual chain tubes with a tamper evident security seal.
You can take advantage of the "buy back" feature at the Royal Mint.
What is the Buy Back feature?
If you store any coins or bars you buy from The Royal Mint in The Vault, we offer a buy-back feature. This means that when you are ready to sell, you can ask us to buy back your coins or coins from you. We will then provide a quote for your bullion purchase, which is based on a percentage of the day's gold price.
Comments
Post a Comment