Gold should be stored in an area protected from high humidity and fluctuating temperatures. Both a lockable jewelry box and a safe are excellent investments for storing and protecting jewelry and other small items of gold value, such as when you Convert 401k to Gold IRA. Safe deposit boxes are also a popular option for storing metals such as gold. In reality, there are only three ways to store your gold: keeping it at home, using a bank's safe, or paying an outside storage company. More specifically, since gold and silver don't corrode, you could store them in a fish tank full of water.
Then there's the question of what would happen to your gold or silver if it were stored in a bankrupt bank. However, keep in mind that some online gold stores may charge you additional resale fees and have expensive storage offers that don't include insurance. However, instead of storing them in water, it is recommended to store gold and silver in dry places, such as a reservoir, safe, or safe at home. In addition, some standard homeowners insurance policies may not cover the full value of the gold and silver you keep at home, whether it's in the attic or in a fireproof safe.
Gold stored at home is not protected against fire, floods, tornadoes, earthquakes and other natural calamities. Some people believe that the safest place for gold and silver is a third-party storage or warehouse facility. Before moving your gold home, you should contact the insurer that issues your homeowner's policy, as most don't cover large amounts of gold stored in your home. Unlike a bank, IBV London allows customers to buy gold and store it, and IBV will buy gold again, said Sean Hoey, managing director of IBV London.
Knowing how to store gold in your home to prevent theft and without losing sight of it in the process can save you a lot of time and money compared to other options.