First-time investors ask this question a lot. Is it better to keep precious metal investments at home or in a secured vault abroad?
The simple answer is to do both. Investors should always keep a portion of their gold investments close by so they can liquidate it whenever they need to. After all, there’s no point in owning gold if you can’t liquidate it right away. The majority of your investments, on the other hand, should be bought and kept safe abroad so you can rely on it in case you need to relocate due to a political catastrophe in your country.
Keeping gold in a private vaults
Although buying a safe for gold investments can be very costly, it is the recommended method by precious metals experts. If you’re thinking of buying at least 30 pieces of gold coins, then you should definitely invest in a sturdy safe that costs around $1,500 – $2,000. If you can, try to avoid putting all your investments in one safe. Limit safes to at least 20 gold coins and diversify them with your other metals if you have any.
Storing gold abroad
Buying and storing gold abroad is a smart move for investors of the precious metal. Storing in accredited vaults abroad not only gives investors piece of mind, but also the option to sell their assets for immediate delivery. Gold and silver investment site BullionVault has some advice for investors, especially for those who are new to the trade: “To retain Good Delivery status, the big 1,000-ounce bars traded by refineries, mints, wholesalers, bullion banks and industrial users must remain inside secure, recognized bullion vaults. Take these gold bars out of market-approved storage – even to store at your bank – and they instantly lose the “integrity” that guarantees each bar’s gold.”
Gold is being looked at as an alternative currency that can act as hedge to sudden economic catastrophes. Long-time gold owners know that it makes sense to diversify their portfolio with gold since it will be the last remaining commodity to trade in case paper money becomes worthless. So, make sure that your precious metal investments are somewhere safe all the time.