Bullion metals such as gold, silver, and platinum are a popular avenue of investment.
In recent years, investors saw a growth in the demand for precious metals. Given their acquired accessibility, pieces made from silver and gold have become a substantial addition to countless portfolios. Online bullion dealers and retailers alike are key to the spread of easy, safe, and discreet purchases.
However, an investor may be quick to realize one important detail. The topic of storage is essential to precious metals. Silver, in particular, deserves special attention given its unique features.
Because silver is more affordable than gold, it is a common purchase amongst beginner to intermediate metals investors. Along the same lines, silver’s density is lower than gold’s. For this reason, bullion products made out of silver tend to have a larger size than gold products, while having the same weight.
As purchases happen, investors start to accumulate. With this in mind, it is vital to protect all acquisitions. Possible threats range from environmental damage to an unfortunate theft. Buyers should know their alternatives on how to store silver bullion.
Home Storage
Storing your bullion at home is one of the more common approaches. In most cases, investors tend to choose to hide their silver holdings at a private property given the control they have over it. Such is the case for smaller to medium-sized quantities. To properly store precious metals at their home, owners should consider the risks involved.
The main threats to silver storages are theft and environmental damage. To diminish or avoid any of their consequences, personal holdings can be hidden in a number of ways. Creativity is key when hiding bullion.
Owners should try to think of creative and unusual spots to store their possessions. If stored at an unconventional place, thieves are likely to have a hard time finding your hidden stash. Home safes for precious metals can be a helpful supply in this matter. A range of options is available in the current market. Some even come disguised as ordinary house objects, that might just blend in to your preference.
Common places people choose to hide their bullion are inside house fittings, under mattresses, floorboards, wardrobes, drawers, and others alike. Even though they may be more usual, it comes down to personal preference and unique cases. Every house may suit a better option compared to another.
It is best to keep your silver holdings in safe conditions. Avoid damp locations, keeping the humidity at low levels. The use of desiccant packets can be effective in these cases. This is applied to any hiding methods, home storage included. Silver is a metal that oxidizes and loses worth when not properly stored. It is recommended to avoid storing gold and silver together since it may cause damage to the content.
Safekeeping
Seasoned investors may suggest that bullion owners have two different safes. That way, one can act as decoy storage for the unfortunate event of a theft. The secondary safe should contain items and minor pieces that the owner is willing to let go of should a terrible outcome occur.
Experts recommend avoiding discussing the place and ownership of your bullion inventory. The smaller the number of people that know of your holdings, the better. Albeit, only your most trusted ones may know the location of your safe, should something ever happen.
It may seem blunt at first, but people are more likely to get their bullion stolen by a person they know rather than an outsider. This may include acquaintances, household assistants, to even family members.
Bank Storage
A bank is associated by most people as a place directly involved in monetary transactions, deals, and even investments. It is common, for this matter, that investors seeking to safely store their expenditures think of a bank. Their safe deposit boxes available for rent may seem as an ideal solution to bullion storage. However, this option has a series of issues regarding risk-management and overall cost-effectiveness.
The main contrary factor on this matter relates to insurance. Safe deposit boxes in banking institutions are not FDIC insured. In the event of a theft, each bank may stumble upon the need of a specific insurance policy. Such situations might just come with an unnecessary headache for an investor, as well as the worst scenario of not recovering your holding’s worth in its entirety.
This alternative is also subject to freezes and confiscations from tax debts, penalties, court orders, and failure to meet the deposit agreement itself. Banks are also vulnerable to crashes in the financial world or potential ‘bank holidays’. This translates to maybe not having access to your storage when you might need or want it most.
SD Depository Storage
In addition to millions of ounces of silver and gold in bullion sales, SD Bullion offers a secure option for owning precious metals outside your home. SD Depository is a fully-insured non-bank bullion depository, presenting discreet and sound storage for precious metal owners.
Secure logistic methods along with other few factors bring about a range of benefits for bullion buyers. Such factors include fully segregated storage allocated in the buyer’s name (shippen in bullion is exactly what the owner can get shipped out upon request).
On the same note, bullion buyers who store their holdings at SD Depository always have the option to take delivery of bullion metals held within their account.
Safety = Wisdom
On the whole, the best way to store your silver bullion is to be smart about it. In general, it comes to understanding the available options. Having them in mind, it can be best applied to your situation.
Your silver holdings’ safety comes, mainly, from the proper measures. Cautionary steps, along with thinking like and ahead of a criminal are key in this matter. The best tool an investor can have in their aid is wisdom, to set the correct path for safe bullion investing.
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