What is the best method to store gold/silver/precious metals/jewels/etc

richardsNY

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Quote from: Roman Abraham on October 10, 2017, 06:20:30 PM

I think Gold storage is a problem especially if we have a lot of gold. my advice if gold has passed 100 grams, don't store it at home unless we put in safe deposit box and our house have high security system. Because gold is an object that very targeted by thieves. another way is we can entrust our gold to the bank that provides a special place for gold storage. and is usually placed in a special place of high security so it is very safe.

It's not all that bad. I have like 200 grams of gold, from which one 100 gram bar, and then smaller bars like 5 gram and 10 gram. It doesn't take up that much space considering that the bars I have are quite small in size, even the 100 gram bar. I like to be in control of what I own, and for that reason will never bring any of this to a bank for storage purposes. I can hide these bars everywhere in my house, without anyone ever seeing anything of them. It will form a problem when you have like millions worth of gold bulk, where you then need a safe or maybe even use the bank as storage.

Roman Abraham

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Quote from: Hydrogen on August 23, 2017, 04:00:09 PM

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

I think Gold storage is a problem especially if we have a lot of gold. my advice if gold has passed 100 grams, don't store it at home unless we put in safe deposit box and our house have high security system. Because gold is an object that very targeted by thieves. another way is we can entrust our gold to the bank that provides a special place for gold storage. and is usually placed in a special place of high security so it is very safe.

dead_m92

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I think that buying them at ETF is the best way if you are going to hold those commodities, i have some gold, not more than 75g, but i am holding them at my own, i dont have them on a bank, or in ETF, it is just physical gold.
If it is not much gold, then i dont see why you need to make security measures, but anyway, i am buying gold everymonth, and i hold it underground.

Hydrogen

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Quote from: dmamigo on August 27, 2017, 01:35:31 PM

I prefer to buy ETF of the various mentioned commodities if its for investment.

I know this is kind of a silly question due to the nature of ETF's and the trouble managers of ETF's have if invested funds are moving in and out of the ETF. But for gold and precious items, could their next evolution be some type of ETF merged with a credit card and checking service?

One of the biggest drawbacks with gold, silver and similar items is they lack the convenience and quick transaction speed of fiat and crypto. Finding a way to mate the long term stability of gold, with the fast liquidity of credit could represent a leap forward. Of course it might also represent a leap backwards. Perhaps still an interesting question as no one has tried much that was innovative or progressive with gold/precious metals in a long time, to my knowledge.

dmamigo

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If you want to have it as an Investment, why store it physically? I prefer to buy ETF of the various mentioned commodities if its for investment. That makes me feel safe and its really much safe. But if you want it physical then locker will be kind of safe or build your own highly guarded safe depending on the quantity.

Kprawn

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A safety deposit box at a bank... should be your last choice. I have seen a lot of banks that are raiding people's safe deposit

boxes lately. I would rather invest a hidden underground safe in my house, because banks cannot be trusted these days. In

war time, most banks will be targeted and all your "treasures" will be lost. Gold can also be confiscated... like we have seen

in past history. Wink

Webetcoins

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Quote from: UsernameBitcoin on August 23, 2017, 05:12:07 PM

Store them in your house in a discreet area like a crawlspace and get a decent safe which cannot be easily removed and they will be quite safe.

well I am not so much agree with your thoughts because it is not safe to keep things like gold and the silver at home because it can cause some danger for your life so it is better to keep your gold and the silver and the money in bank locker because if you will keep it at h0ome maybe some thief can attack you for your wealth like gold but it is more safer to sell your gold and buy bitcoins it will be easy to keep your money save and it will earn you a lot of profit as well so from my side good luck to you.

webtricks

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In my country government has launched Gold scheme and pay interest if individuals deposit gold with government and interest is again redeemable in gold.
I think it is as far best way to hold gold. There is no fun holding gold bars in home as it will only attract burglary and problems.

pitham1

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If you don't have problems with trusting your bank, there probably will be a way to buy gold electronically. You get the benefits of price rise and don't have the hassles of ensuring its safety. That is probably your best bet.

lllaqpt

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I think that in a personal safe it is still more reliable to store certain values than to bury them somewhere as a treasure, to store in a banking cell or to keep for example electronic gold.

dealung

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In my village before it developed into a city, the average person keeps his gold and silver just like you say like the pirate style that is burying him. Because the old days the police are still few and can be counted on the fingers, so to avoid robbers, people here buried it in the ground.
But now the times are different, more advanced and modern. People keep gold and silver in fireproof safes, there is also a store in the safety deposit box at a bank. Do not be afraid of being confiscated if the proceeds of our assets are from work that is true or legal or unlawful. Which is important your assets have evidence, such as certificates or valid sale and purchase documents.

megynacuna

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A personal safe for me is the best because you get to easily access your jewelry anytime you want without restrictions or limitations. Secondly I think if you prioritize security over accessibility then keeping them in a bank is better. The bank safe cab store them up for you but you can only access them at the times the bank open.

inanilujimi

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Quote from: Hydrogen on August 23, 2017, 04:00:09 PM

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

I think if gold is really yours and have a certificate on your behalf it's good you keep gold, silver or the other with your brother who can be believed that the life of his economy is normal so that the government does not suspect it. And my suggestion in heap in his house you and he alone know.

FansUnite

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Not necessarily the best option per se, but an option nonetheless if you choose to invest in gold, is to buy up some golf-based ETFs. They can literally invest in gold bullion, so that you have gold in a vault somewhere but you dont have to manage the gold in the vault on your own.

I think that these funds consider things like insurance, storage (obviously) and other administrative elements like that.

Here is a link through the website Investopedia: http://www.investopedia.com/articles/etfs/top-gold-etfs/

None of this is meant to be investment advice.

darkangel

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Quote from: Hydrogen on August 23, 2017, 04:00:09 PM

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

The best way is to store them somewhere thoroughly with secure systems. Or they can be sold out for cash and then put into the bank. Want to risk getting rich can use them all to buy bitcoin.

eternalgloom

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Quote from: pitiflin on August 23, 2017, 04:19:02 PM

Quote from: Hydrogen on August 23, 2017, 04:00:09 PM

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

The reason why one's money usually gets confiscated is because he doesn't pay his tax or he is a criminal.

That's not true, it can also get confiscated if you are just suspected of committing a crime, at least in the US.
And you usually don't see that money back again, even if you weren't doing anything illegal.

There are enough proven stories of people driving with, say, 10k in their car to pay for something in cash, getting pulled over and have their money confiscated because police 'thought' it was drug money.
They don't see their money back.

dream_maker82

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I think that a modern protective safe for the house or a bank cell in the bank is very suitable for storing jewelry. But there will still be risks if someone becomes interested in your jewelry and wants to kidnap them.

Sled

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Bitcoin- in bullish time

I think the best method that i know for storing precious things like that is to just have a secured vault in your house and also build a high security for your house by hiring professional people that can help you because if you are storing those things then you need to secure your whole house first by having cctvs and also alarms that can help you for more security and also the vault which you will put all the things that is very important.

TexasHuck

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I didn't realize that confiscation was on the rise. I would say with that knowledge, then maybe stay away from gold or silver. I'm assuming your not breaking any laws of course, but sometimes it doesn't matter. They may find ways to take it without justification. Real estate would be better. At least if they take that, it can be proven that it is yours.

Huck

Uberzugzug

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Some banks would accept that and give you a safe for it. It is one of the good ways because banks have high level of security that you do not have in normal household.

Topic: What is the best method to store gold/silver/precious metals/jewels/etc (Read 966 times)