Gold has always been a stable way to build up your investments. Gold is not subject to the usual volatilities as much as the other types of markets. It is not subject to forces of monetary fluctuations. That is because gold’s value is recognized throughout the world. It has nothing to do with how the economy is doing or what the inflation is. Gold has been rising in value over the decades, and it is continuing to do so. Because of this, more and more people are choosing to purchase gold to own for themselves as a safeguard against an adverse market. It is one thing to buy gold to own, but once it is purchased, how should you keep it? You want the most secure way to safeguard your investment. Here are some options that you can consider.
If you have some gold coins or bullion, one place that is the most convenient would be your own home. The advantage is that you can get to your gold at any time when you feel like it. The challenge is to figure out where is the safest place in your house to keep this. One way is to purchase a reliable fireproof safe that can be bolted down to the floor. This safe should be hidden away in a place where it is not in plain sight of any visitors in your house. Another place would be a wall safe. You can have this installed on your wall, then cover the wall with framed artwork. One old-fashioned way is to bury it in your yard. You will need to put your gold in a water-tight container and hide it in a spot where it is not likely to be dug up by animals. Just be sure you remember where you buried it.
Another approach is to keep your gold in your bank’s safe deposit box. You need to pay an annual fee for this. Your access will be subjected the bank’s open hours. If you choose this way, make sure that you are confident about the bank’s solvency. If the bank goes bankrupt suddenly, you might have a hard time getting out your gold. Also, your safe deposit box can be subject to searches by the Feds if they had just cause and had the proper subpoena.
If you want your gold to be held outside of the U.S., there are foreign security vaults overseas that can store your gold for you. These are private companies that are not financial institutions, so this would not count as a foreign account on your taxes. There are reputable international security vaults that you can look into.
If you own a good quantity of physical gold, you might want to divide that and not store everything in one place. For example, if you choose to keep it at different security vaults, find out the two most reputable ones and keep half of your gold in each one. That is one way to spread the risk.
How and where to secure your gold is a personal choice. It depends on how comfortable you are with each option. Whichever approach you choose, make sure that you do all of your research and take all of the necessary security precautions associated with that choice. If you secure your gold properly, you can have peace of mind that it will always be there for you when you need it.