by James A. Browning
I am frequently asked how and where to store gold and silver. There is not one answer, as it depends on how much you want to store. If you own less than a few hundred ounces of silver or gold, it is easy enough to simply store your investment at your home in a safe.
First and foremost, do not tell anyone about your precious metals and definitely not where you keep them. You may not distrust your family and friends, but after several alcoholic drinks at your favorite watering hole, you may mention that you invest heavily in gold and silver and the gold and silver is kept on your property. The point is to be extra cautious and extra safe, as this is a serious investment!
Keeping and Storing your Precious Metals Yourself. Although it is not always the case, I generally recommend keeping physical possession in or on your property. Doing things yourself is often the most secure way to look after your property. The solution to this is a heavy duty vault type of safe which is both fireproof and waterproof. You will want it to be bolted down so that no one can take it. This way you are protected against thieves that may otherwise take your safe with them and against nature, such as tornados or hurricanes. Although purchasing a safe could be costly, it is definitely the recommended way to store an investment like coins and precious metals. If you are going to spend thousands on rare coins and precious metals, you should purchase a safe in the $500 to $1200 dollar range.
James A. Browning MRE, CEC, CIPS, CDEI, REOCertified®, SFR, BPOR, SSC. National Educator. Trainer, Speaker NAR, CAR, RIC, CREOBA, DMAR, REEA, Educator/Speaker Founder & CEO, Browning Real Estate School/REO Institute Author, BPO & REO Simplified, “How to Work with Asset Managers”! Real Estate Consulting