How To Properly Store and Secure Your Gold Bars

When buying a gold bar or a couple of bars, there is one important question you will likely have in mind. Where can you keep your gold for safekeeping?

Now, there are currently three ways you can store your gold bars. You can keep your gold at home, in a safe deposit box at your bank, or a secure gold depository/ vault. So, which is the best option of the three?

In this article, we tell you what each option involves, including its advantages and disadvantages, and finally, reveal the safest gold bar storage to go for:

Home Storage

Once you have purchased some gold bars, you want to ensure their safety until you decide to sell them. If you choose to store them at home, you will need to make a couple of adjustments.

For one, you need to ensure that the environment is right to preserve the integrity of your investment. Two, you will require proper insurance that includes your gold assets. Finally, you will need to be discreet about it to avoid potential theft and other dangers.

While home storage means you can physically access your gold bars whenever you want, the risk of damage, theft, or loss is just too great. Plus, it is typically harder to sell when you decide to.

Safe Deposit Box

The second storage option is a safe deposit box at the bank. It basically involves renting a safe deposit box at a bank of your choice and keeping your gold there.

This option is considered pretty secure, as banks are generally high-security facilities. It is also not too expensive to maintain a safe deposit box. However, a safe deposit box comes with limited accessibility, as you can access your assets only when the bank is open.

Also, the bank does not insure gold or other precious metals in safe deposit boxes. This responsibility lies with the owner. Not forgetting, if the bank goes bankrupt and, consequently, closes down, you lose access to your gold.

Gold Depository/ Vault

The last gold bar storage option is to keep your gold in a designated bullion depository, such as the Texas Bullion Depository.

A precious metal depository addresses the shortcomings of the first two options. Basically, you enjoy direct ownership, access to your bars, superior protection and insurance in case of anything. Also, you can sell your gold at any time, getting proceeds in your account on the same day.

The only significant shortcoming is you cannot just walk into the vault or depository and physically access your gold. However, this is a small price to pay for safekeeping and peace of mind. Plus, you can get your bars shipped to you, wherever you are, upon request.

Buy Gold Bars and Have Them Shipped to Safe Gold Bar Storage Immediately

While gold is one of the safest investments today, storing it can be a bit tricky. Gold is sensitive, so it must be kept in the right environment to stay pristine. It is also highly valued and exposes you to a greater risk of theft.

Naturally, you should be compelled to keep it in the safest place possible- a precious metal depository. And with a good gold distributor, you can have your bars moved to a depository as soon as you purchase them.