Owning Bullion is One Thing: But Storing it is Another Thing

Before buying coins or bars from a bullion dealer Melbourne, it is essential to think about storage. No matter how you plan to keep them, you need to protect them from damage and theft.

WHAT STORAGE OPTIONS ARE AVAILABLE

Before buying gold or silver, you must find the best storage solution available for your new bullion purchase. You have two options available. You can take the delivery of your bullion to look after it yourself, or you can entrust your precious metals in the hands of the bullion dealer.

WHAT YOU NEED TO CONSIDER STORING PRECIOUS METALS AT HOME

Many bullion investors do not feel comfortable holding precious metals at home, as it can be stolen or damaged. Still, if your personal preference is to keep your bullion at home, consider the following.

First, look at the number of bars or coins you plan to buy and how much space is available for it. Bullions you need to store correctly and keep in the right environment away from corrosives and dampness.

You need to keep them in the original form and good condition to get a return on your investment when it comes time to sell. In addition, you must not discuss the location with anyone including family or friends. The fewer people know, the better. Yet, with a home safe, you still need another person to access it incase anything happens to you.

If you decide to invest in gold and silver, you cannot keep them together as the metal can damage and tarnish by rubbing off on each other. It best that you keep them in a bag and separated into gold and silver Then, you need to get insurance and check with your insurer if they cover your bullion portfolio.

The safe also needs a rating to cover the value of the items you store, as most safes have a cash rating that you can keep cash contents. Usually, you multiply the rating ten times for jewellery or bullion. The rating provides you with a good indication of the security level of the safe.

The higher the rating, the more security it has. Also, consider investing in a fire and waterproof safe to protect your valuables. Alternatively, you can keep your bullion at a bank or a third-party security vault provider.

THE BENEFITS OF STORING YOUR PRECIOUS METAL AT A BULLION DEALER

When you buy precious metals from a bullion dealer Melbourne, you have the option to store your valuables with them. The dealer will hold your precious physical metals in a vault behind gates on a high-security site.

The location is guarded year round 24/7 by trained security staff that handles the work with discretion and confidentiality. You will receive a serial number fully allocated to you with insurance.

You can also take delivery at any time. The dealer stores it in serialized tubes that are tamperproof with a seal. Another benefit is you can always take advantage of the dealer’s buyback option and sell it back to them without the bullion ever leaving their safe.