If you invest in gold, you need to consider how to store it. There are benefits and drawbacks to storing your gold offsite versus at your own home.
There are some of the most important basics here to help you make an informed decision about why so many people choose to store their gold in certified vaults. To get more details about storing gold safely in Switzerland you may see it here goldswitzerland.com/services/secure-and-service/.
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1. Home Gold Storage Options Are Flexible
Getting started with gold storage at home is straightforward: Place your gold in an inconspicuous area of your residence, as you might do with a firearm. Don't share this information with anyone besides your loved ones.
Nothing is perfect, and that certainly includes the various options of onsite versus offsite gold storage. Each method has its perks and drawbacks.
2. Safe Deposit Boxes and Consumer Banks
A safe deposit box at your local bank branch provides more secure storage when compared to storing gold at home.
It is a logical choice for storing not only bullion but rare and collectible coins or expensive jewelry. There are some caveats you should be aware of, however.
3. Bullion Bank Vaults
Bullion banks are large banks that participate in the purchase, sale, lease, and lending of bullion. Think of "Too Big To Fail" banks, and odds are that they are also bullion banks. Due to the scale at which they buy and sell gold, they only allow large gold deposits, which must be in bar form.