When it comes to keeping your gold safe, there are three main options: storing it at home, using a bank's safe, or paying a third-party storage company. Home storage is the simplest and most economical way to store gold or silver. This method is ideal for those who own collections of precious metals of any size. To store your valuables at home, you'll need to find a secure hiding place.
Common practices include hiding them in a hollow book or burying them in the yard. There are two types of storage space: allocated and mixed (segregated). Allocated storage means that your items are still in your name, but they may not be stored far from other items or all together. Each item is kept on record, but the physical asset could be mixed with the holdings of other depositors.
This process increases the time needed to withdraw assets and causes some to worry that assets will be lost or misplaced. Gold should be stored in an area that is protected from high humidity and temperature fluctuations. A lockable jewelry box or a safe are great investments for storing and protecting jewelry and other small gold valuables. Safety deposit boxes are also a popular option for storing metals such as gold.
Be sure to keep jewelry and other small gold items separate from each other to avoid dents or scratches. You can use archival quality tissue paper or soft cloth bags for this purpose.
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