The safest place to store gold would be Fort Knox. In all seriousness, you may not be able to store your gold at Fort Knox, but it is recommended by many experts that you store it in a precious metals vault or depository. There are other ways to store your gold, but that is said to be the best and safest way.
Maybe you don’t agree, that storing your precious metals at a depository is the right thing to do. Perhaps you would rather hold on to your gold. Let’s look at the different choices you have for storing your gold.
People often want to keep their gold as mentioned, and there is certainly nothing wrong with that. You can hold it with you, and with gold, you should be safe in space. Silver is less expensive so that a substantial investment would mean a significant amount of space being taken up by the precious metal. Just ask Warren Buffet. He has his vaults full of silver.
The point here is that gold is expensive enough for it not to create much of a storage issue for the average person. That being said, it’s not just about storage space of course. So you want to consider all aspects of gold storage as you make your choice.
Is the depository going to charge you? You certainly want to know that. Safety is first when it comes to gold storage but then comes everything else.
One thing you can do if you want to store your gold at home is to put it in a fireproof safe. That is one thing that is recommended if you want to store your gold, but there are other ideas. The safe is probably the best choice when it comes to self-storage. However, as mentioned there are other ideas, and one of them is to just find a secret hiding place.
No that doesn’t mean you go out in the backyard and dig a hole or anything like that. You can, but of course, there are much better solutions. A good hiding spot does seem like a good idea when you start getting creative.
Maybe you can combine the safe and the secret hiding place. That would be even better. But it all depends on whether or not you want to store your gold. If you do, then you know the best approach to take now.
If you want to store your gold with a depository though, you will have to look into your best options. There are some companies that store and sell gold. In other words, you could store your gold in the same place you purchased it from. You might also be thinking about getting in touch with a depository that is closest to you.
That sounds like a good idea, but there are a lot of factors that come into play. Just make sure you are happy with your choice for gold storage because that is a significant investment.