Crafting To Save Money

Though you can buy stock in gold, you may feel more comfortable with physically owning your gold. By owning physical gold bars or coins, you do not have to rely on a third-party. The problem is that a burglar will also feel comfortable with taking it as well. When you own gold, you will need to determine where you must store it.

Safe Deposit Boxes

Bank safe deposit boxes are a common place to hold gold. Banks typically charge a yearly fee that is affordable. However, this can become expensive if you have a lot of gold to store. Also, make sure that you have your gold insured.

Vaulted Services

Another option is to use a vaulting facility that provides some insurance against loss. The facility should use segregated storage rather than pooling all of the valuables into one location where they can be mixed up, even if this option is more expensive.

Home Safes

Storing your gold at home is free. However, if would-be burglars discover you have gold, you will be much more likely to be the target of a burglary. But if you own a lot of gold, you may still choose to keep some at home in case you need to sell it quickly.

Consider purchasing a private safe for your home. Though the security of your safe is important, even more so is where you hide it. Some gold owners construct a secrete underground area beneath a shed, under heavy tools. Another option is to get a wall safe and hide it behind a painting. Above-ground safes are not recommended because they are unsightly and much more noticeable. Also, if the safe is not bolted to the ground, it doesn't matter how durable the safe is. The burglar will simply pick up and carry the safe away. Burglars can also hold you at gunpoint and force you to open it.

If you do not mind having a safe visible and you can afford to purchase two, consider purchasing a less expensive safe as a decoy. You can fill it with things that are not important, but which can cause the safe to feel heavier.

Insuring Gold

Your home insurance policy will usually not insure more than one grand of gold. Some insurers will have policies specifically for gold coins and bars and will usually cover an unlimited amount. Your premium will be based on how much gold you own.  

For information about gold and silver buyers, click this link or do an online search.