Many people who want to make sound investments over the long term purchase gold or gold shares. After all, gold has held monetary value for several millennia and generally rises in value over time. Short-term fluctuations occur that cause gold to sometimes decline in value, but those decreases usually are temporary. The overall trend is for gold to rise in value over a span of several years or decades, but you need a secure space in which to store that gold. Let’s take a look at some of the better options.
Separate Jewelry from Bulk Gold
You generally have two types of gold from which to choose when you buy it. Jewelry and gold watches are commonly obtained items that could contain a significant amount of yellow gold. Those items hold value even if they no longer function as jewelry, watches, or whatever items they might be. As long as they contain a significant amount of gold, they are valuable. You can store such items in a small safe or a lockable jewelry box inside your home.
Bulk gold also could be stored in your home, but doing that could create some risks. It would be smart to never discuss storing gold inside your home and only let those who have a need to know be aware of its existence. The world has a lot of bad people in it, and some of them are perfectly willing to invade a home to obtain something of great value. If you have bulk gold, you should consider offsite storage options.
Two Good Options for Offsite Gold Storage
Suppose you decide to buy gold bullion and hold onto it as an investment and as a source of emergency funds. You’ll need a very secure place in which to store it, and a bank’s safe deposit box is the best option. Banks have several layers of security and vaults that most criminals cannot penetrate. You could lease one or more safe deposit boxes and use them to store a significant amount of gold that you can access during banking hours.
Another option for offsite storage is a private vault. As the name suggests, a private vault is not located in a bank and instead is located in what usually is a private business that has security. That business might be a buyer and seller of gold that also leases out private vaults to those who buy gold or silver and need a secure place to store it. Some people don’t trust banks and prefer the security and privacy that private vaults often provide. You might, too.