Storing gold at home is a practical consideration for many people, according to David Small, a New Jersey-based gold bullion buyer. You can hide your gold or silver in many places around your house, such as burying it in the backyard, tucking it under the mattress, putting it in a garbage box in the basement, or even hiding it in the freezer. Gold storage is necessary due to its high value, and if you own shares, they can be stored electronically or on paper. However, gold and other precious metals take up physical space and must be stored securely to prevent theft. If you are planning to establish a precious metals IRA, there are also legal restrictions on how your gold and other precious metals can be stored.
The first option that comes to mind when thinking about where to keep gold safe is an area protected from high humidity and temperature fluctuations. A lockable jewelry box or a safe are great investments for storing and protecting jewelry and other small gold valuables. Safety deposit boxes are also a popular option for storing metals such as gold. It is important to keep jewelry and other small gold items separate from each other to avoid dents or scratches.
You can use archival quality tissue paper or soft cloth bags for this purpose. Secret storage is the simplest and most economical method for storing gold or silver. This storage method is ideal for customers who own collections of precious metals from small to medium size. Simply find a safe hiding place in your home or on your property and store your valuables.
This prevents others from knowing your whereabouts, while providing your owners with easy access. Common practices for hiding precious metals include hiding them in a hollow book or burying them in the yard. Before you move your gold home, you should contact the insurer that issues your homeowner's policy, because most don't cover large amounts of gold stored in the home.