How to Store Silver at Home | Resource Investor
With the threat of burglary in mind, there are two intelligent options in safeguarding your silver bullion purchase. You can first arrange to take physical possession, or you can choose to have your silver bullion stored at a Third-Party Insured Vault. Many people do both.
Dangerous Deposit Boxes
One major mistake often made by first time bullion buyers is to store their precious metals in a “safe deposit box” at a bank. Why is that a poor choice you ask? Well, “safe deposit boxes” are not FDIC insured. “Safe deposit boxes” expose what would be one of the most private investments one can make to the laws and regulations of the banking and financial system. Frankly, when it comes to physical bullion, “safe deposit boxes” are a complete misnomer. Instead, we prefer to call them dangerous deposit boxes for the aforementioned reasons.
Physical Possession First
Thankfully, the high majority of our customer base chooses to take physical possession of their silver bullion. This indeed falls in line with Mike Maloney’s personal belief that taking physical possession of silver is a wise first step for precious metal purchasers.
Mike Maloney, the author of the #1 best-selling precious metals book Guide To Investing In Gold And Silver, is also often quoted stating, “If you can’t hold it, you don’t own it.” I believe everyone should have gold and silver in his or her own private possession, where you can lay your hands on it, because they are one of the few financial assets that can be completely private and not part of the financial system.
Being gold and silver investors ourselves, we prefer to take physical delivery first ensuring outright ownership and private possession. Once we have enough bullion under our roof, we then begin amassing bullion holdings both domestically and internationally with fully insured third party vault storage facilities. Essential to our vaulting strategy, is the option of taking physical delivery at a later date if we so choose.
So how should you store silver bullion at home?
To maximize the efficiency and security of your decision for home storage of silver… consider the following:
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The space the silver will occupy
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Your safety and comfort level
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Creative means of home storage
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