A Guide to Storing Gold Bullion

Investing BY Mashum
Storing Gold Bullion

Gold is the very foundation of the financial world and with such high value, storing it safely is always important. Gold comes in a range of purities, with 9, 18, 22 and 24 karat, and comes in a range of forms. Gold bars are heavy and as this metal is very valuable, security is always an issue. You wouldn’t leave a kilogram gold bar in your underwear drawer, and as it is instantly recognizable, you need to store gold safely.

Safe Deposit Box:

For many small investors, a safety deposit box is an ideal place to keep the gold. Wrapped in velvet, each ingot would not take up too much space and you have access during regular office hours, should you wish to sell your gold. Regarding buying gold bullion, you can get it from City Gold Bullion, who is an established bullion dealer with a strong presence in Australia.

Home Safe:

Many people prefer to have a small floor or wall safe fitted at home, which is usually concealed. In the event of a break-in, your gold is reasonably safe, as even if the thief found it, it would be next to impossible to gain access. The only risk with storing your gold at home is fire, which is why you should always insure your assets, and aside from that, your gold is secure in a concealed safe at home.

Home Safe

Hide the Gold:

Some people will hide their gold, which is a reasonably safe way of securing it, although if you were to die suddenly, your secret location would never be disclosed. This is not a recommended solution for many reasons, whereas depositing the gold in a bank or safe will ensure it remains where it is. Apparently, it isn’t just pirates who bury gold, and while there are no statistics, there must be quite a few people who have gold buried secretly somewhere. There is likely to be a lot of gold buried in the ground that no one knows about, indeed there are gold hunters who spend their time looking for such treasure.

The Importance of Physical Possession:

Owning gold on paper obviously has an element of risk to it, so always make sure you take physical possession when buying gold. Once you have the gold in your possession, it is yours to do with what you may, and with safe storage, your investment is safe and secure for as long as need be. All reputable gold dealers will be able to hand over the gold you purchase, which is something you should insist upon, and by keeping your eye on the spot price, you can make a quick purchase if need be, especially if you form a relationship with a local gold bullion dealer.

Gold does not tarnish, therefore it can be stored in a dry place, yet security is always an issue, so you are strongly advised to use one of the above options when looking to store gold bullion. Gold is still a very favourable form of investment and for many Australian people, gold makes up a portion of their investment portfolio.

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Mashum Mollah is an entrepreneur, founder and CEO at Viacon, a digital marketing agency that drive visibility, engagement, and proven results. He blogs at BloggerOutreach.io.

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