If you are investing in bullion then it is a good idea to take the time to learn about the basics of handling and storing your coins or bars. The first thing you should understand is that they are an investment and should be treated as such. One of the most important things therefore is to discuss securing your coins and protecting your investment. The simple fact is that thieves would love to get their hands on your bullion coins. They are small, easy to transport, and can be melted down and made untraceable. Protecting your bullion should be a top priority for any investor. Of course, most people are honest and would never dream of stealing from you. When it comes to security, however, it is better to be safe than sorry.
Storing Bullion At Home
If you decide to store your bullion at home, you should consider keeping your investment secret. If you feel the need to talk about your bullion investments, you could tell people that they are stored with a special security company, even if that's not true. No, we don't advocate lying, but the truth is, there is really no need for anyone to know about your investment except you and your closest loved ones. As the old saying goes, “two people can keep a secret if one person is dead.” That may sound a bit harsh, but when storing your gold at home, it might be best to keep this information private.
You also need to know that many insurance policies do not cover bullion coins. You read that right, your homeowners insurance may not cover bullion coins as part of your standard coverage. Not only does this make security all the more essential, you should also make sure that you talk your insurance agent to see if your investment is covered, or if you can purchase a rider to cover bullion.
Most likely, however, your homeowners insurance will not cover gold, and your insurance company will not be able to offer a rider to cover it. In this case, you can check to see if any bullion insurance is offered in your country or state. In some cases, there may be insurance policies that you can purchase to protect your coins. If you decide to purchase insurance, make sure you read all of the fine print. Check to see what your gold is covered for. It's best to have a policy that covers a wide range of situations, such as robbery, fire, natural disaster, and everything else.
Still, if you do decide to store your bullion at home, it's a good idea to invest in a high-quality safe. This safe should be large, heavy, and bolted to the ground or into a wall. After all, if burglars can simply steal your safe, they will do so. Combination locks may be preferable to electronic locks, as you won't have to worry about batteries or a power source. You should also try to place your safe in an out of the way place, such as a closet, the basement, or even your attic. If possible, you should avoid placing your safe in your home office as burglars know people often put safes there.
Make sure your safe is fire proof and heat resistant. There are many options for fire proof safes, and we recommend you purchase safes with the highest fire resistance ratings. Gold and silver wont “burn” in a fire, however, if temperatures get hot enough, your bullion can melt. While the primary value of bullion comes from the metal contained (which you may be able to recover, even if your coins melt), your investment will lose some of its value.
Storing Bullion in a Secured Vault
Another option is to store your bullion in a secured facility, if one happens to be nearby. With a storage facility, your gold will normally be placed inside of the a large and heavy vault. While setups vary from company to company, often you will be given your own safety deposit box or safe within the vault. This adds extra layers of security and ensures that only you can access your bullion.
If you decide to store your bullion in a specialized security facility, make sure you take the time to research and visit the options available in your area. Read all of the fine print regarding their policies, and make sure you clarify any questions you might have. And of course, make sure you check into insurance policies and details.
Closing Words
There are many ways to secure your bullion investment. Remember, it may be a good idea to keep your investments private and tell only those who actually “need to know.” Bullion isn't something to brag about, its something to ensure your future prosperity, so make sure you are protecting it. You should consider insurance where available, and if you store bullion at home, invest in a good safe. If you decide to invest your bullion in a secured vault, make sure you review your options carefully and read all the fine print in the contract. Protecting your investment from theft and damage should be a top priority for any investor.
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