How to Safely Store Your Gold and Silver Bullion

Purchasing and taking possession of physical gold and silver is an excellent step towards securing your financial future, but responsible ownership requires mindful vigilance. Whether you keep gold, jewelry, cash, or expensive electronics at home, precautions must be taken to protect your valuables. It's imperative to stay a few steps ahead of the bad guys.

Since the release of the Ring doorbell camera and other DIY security systems, home surveillance and personal protection are more prevalent than ever. But with better access to technology, criminals too have become smarter, and home burglary remains a threat.

The tips we'll be discussing are merely to help stimulate your thought process. The final decision on how best to safeguard your gold and silver bullion is a personal responsibility. This is your castle, and your better judgment will guide you to the most appropriate action plan.

With that being said, here are a few pertinent considerations. Let's get started.

A Good Hiding Spot Is a Great Start

Depending on the amount of metal you're stashing away, perhaps a few gold coins, for example, a phenomenal hiding place, might be all you need. Seek out the nooks and crannies of your residence, where a coin or two can be kept well out of sight. We don't want to get too specific and give away good ideas to the crooks but think about well-concealed spots that are difficult to reach. Knowing where you shouldn't store any gold or silver will assist this creative process.

Places NOT to store gold and silver bullion (and other valuables):

  • Bedroom Closets – The absolute first place thieves will check.
  • Under the Mattress – Will also be found almost immediately.
  • Refrigerator or Freezer – Seasoned professionals know to check there.
  • Toilet Tank – Similar to the refrigerator, pros will check don't risk it.
  • Hollowed Out Books – Likely to be torn off the shelf and discovered.

Diversify the Locations of Your Gold

The saying "don't put all your eggs in one basket" is applicable when discussing the topic of bullion storage. Whether it is all kept on one property, multiple properties, or a percentage vaulted away, location diversity is paramount. You shouldn't keep all your gold in one spot, and don't give up the motherlode—more on vaulting later.

Lock It Up: When to Get a Safe

When your gold and silver holdings grow to a sizeable amount, the physical safe route is sensible to securely store your bullion. A big, heavy safe is just what the doctor ordered. Do it properly and bolt it to the floor, ideally to a concrete slab. For increased effectiveness, position the safe with the opening edge of the door tucked towards the room's wall. This strategy will help defend against any pry bar, forced breach attempts.

safediagram

We won't mention any specific names because there are many reputable brands out there, but realistically you'll want to target safes that weigh in excess of a few hundred pounds. Small, handheld safes that aren't secured to any surface can get hauled off without much difficulty. Some cheaper models are even susceptible to primitive, brute-force attacks and can even be cut open with power tools.

Decoys and Distractions

Consider acquiring one of those small, inexpensive safes and using it as a decoy. Placing that decoy safe in a conspicuous spot can distract any would-be burglar and give them an easy "win." You can stuff it full of lead ingots used for producing fishing gear (and marketed as such) for added effect. These heavy, trapezoidal lead bars are easily purchased online and even resemble the appearance of authentic silver bars and help sell the bait!

Plated or cheap jewelry left in plain sight and around the house has a similar effect.

Vaulting your Gold and Silver

One of the main benefits of physical gold ownership is the asset's complete lack of counter-party risk. You hold it, you most certainly own it, and we always recommend keeping at least some nearby. But suppose your holding grows beyond a personal comfort level for home storage. Professional vaulting services such as the Texas Bullion Depository, not affiliated, exist to store your metal securely. These types of services provide 24/7 monitored storage, and your holdings are fully insured. Remember that vaulting your gold and silver incurs ongoing storage fees, and your metals aren't immediately accessible. Still, it's always an option to consider.

On a side note, avoid storing gold or silver in your local safety deposit box. The contents are uninsured and ultimately your responsibility. If anything goes missing, it will be a total loss, and the bank will state this fact at the outset.

Home Security Systems

In 2022 more people are working from home than ever, but we can't always be around. The security strategies mentioned above are only one side of the coin. To fill in the surveillance gaps, it's wise to invest in a security system with an alarm. When your house is most vulnerable, a professional security system acts as a second set of eyes. Security systems and property cameras are more affordable than ever and are an excellent deterrent measure.

Even with camera surveillance in place, some criminals are still bold enough to break in when the opportunity is presented. The faster law enforcement is on the scene, the greater chance the perpetrator is apprehended and your valuables recovered. The best route for complete coverage is an alarm system that will alert the authorities of any unwanted intrusions.

Gold and Silver Insurance

Explore insurance options for your gold and silver holdings. Many homeowner's insurance policies can provide coverage, but it's usually not included in the standard policy. It's best to discuss all of the options with your agent.

Bury the Gold in Your Backyard

If none of the previous options sound enticing, another option is entirely covert. For some people, this might be the most secure and cheapest method. Of course, precautions must be taken, such as sealing your gold in a PVC pipe to keep moisture out. Remember, silver will tarnish in the elements and is bulkier than gold, making it more challenging to bury in large quantities. Always perform the task during off-hours to ensure nobody, including a watchful neighbor, realizes what you're doing.

Finally, it's wise to bury it on your own property. An empty field or open space in a low trafficked part of town or on the outskirts might seem like the perfect place to hide your gold or silver bullion. Dreams of rediscovering your buried treasure at a later date might turn into a nightmare when you return to see tract housing built atop your stash.

Keep Your Gold a Secret

Gold and silver ownership is something done on a need-to-know basis. It's exciting to watch our holdings grow, and the desire to share that journey with close friends and family might be tempting. But do your best to keep this one a secret. Your spouse and close loved ones are the only people with any right to this information. Mum's the word.

The tangible nature of gold and silver bullion makes it the perfect asset class to hold close and keep readily accessible. Your precious metals holdings will be there for you when needed most, but we have to be smart. Everyone has different comfort levels when storing valuables at home, and it's always wise to err on the side of caution. We hope these prudent tips assist in your decision-making process.

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