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It's good to keep some precious metals at your home stored in a safe, but it is not wise to keep large amounts in your residence.
Burying it underground is another option, but that too comes with risks ie, treasure hunters with metal detectors, nosy neighbors, forgetting where you buried your stash, it's labor intensive, and you may not be able to get to your stash in the colder months when the ground freezes up.
You could store it in a safe deposit box at a bank, but as far as I'm aware, banks typically don't allow precious metals to be stored in their SDBs, and you don't want your metals stored in a bank anyway.
The best and safest storage option for a large amount of precious metals IMO is a private vault, outside of the baking system. TDS Vaults is one I would recommend- they charge $15/mo for storage, plus a $50 handling fee for any shipment in or out of their vaults. Pretty reasonable I'd say.
There are many reputable online PM dealers- Apmex, Money Metals, JM Bullion, SD Bullion, GoldSilver, and more. JM Bullion is my personal favorite- the most professional of the bunch I'd say, and very reasonable prices. Buying in person if a good option too. The banks shouldn't be concerning themselves whatsoever with your money, legally, and they usually don't.
It's good to keep some precious metals at your home stored in a safe, but it is not wise to keep large amounts in your residence.
Burying it underground is another option, but that too comes with risks ie, treasure hunters with metal detectors, nosy neighbors, forgetting where you buried your stash, it's labor intensive, and you may not be able to get to your stash in the colder months when the ground freezes up.
You could store it in a safe deposit box at a bank, but as far as I'm aware, banks typically don't allow precious metals to be stored in their SDBs, and you don't want your metals stored in a bank anyway.
The best and safest storage option for a large amount of precious metals IMO is a private vault, outside of the baking system. TDS Vaults is one I would recommend- they charge $15/mo for storage, plus a $50 handling fee for any shipment in or out of their vaults. Pretty reasonable I'd say.
There are many reputable online PM dealers- Apmex, Money Metals, JM Bullion, SD Bullion, GoldSilver, and more. JM Bullion is my personal favorite- the most professional of the bunch I'd say, and very reasonable prices. Buying in person if a good option too. The banks shouldn't be concerning themselves whatsoever with your money, legally, and they usually don't.
Thank you - appreciate all of the info! I hadn't thought of burying. Makes sense.
How would you get the gold or silver to TDS Vaults (I guess I can look it up!).
That's why hoarding gold is problematic -- no foolproof way to store and it costs money to do so. If you want to protect yourself during "the end of the world" event, or something, you might find that all these vaults have barbed wire around them, and the banks locked.
Also, what do you mean by "gold"? Bullion is way too expensive. Holding coins would allow you to trade them in the post-apocalyptic world -- supposedly -- so it might make sense to hide some of those coins. Maybe hide them home in some metal heating radiators, or anything massively metal, so the metal detectors won't know the difference?
For the run-of-the-mill hyperinflation, holding gold stocks or GLD should work better.
Thank you - appreciate all of the info! I hadn't thought of burying. Makes sense.
How would you get the gold or silver to TDS Vaults (I guess I can look it up!).
When you sign up for a vault, they give you your vault address. You can either ship your Bullion to that vault yourself, or you can have it sent there when ordering online, just type your vault address as the shipping destination, rather than your home address (you might have to call the Bullion company to facilitate this).
That's why hoarding gold is problematic -- no foolproof way to store and it costs money to do so. If you want to protect yourself during "the end of the world" event, or something, you might find that all these vaults have barbed wire around them, and the banks locked.
Also, what do you mean by "gold"? Bullion is way too expensive. Holding coins would allow you to trade them in the post-apocalyptic world -- supposedly -- so it might make sense to hide some of those coins. Maybe hide them home in some metal heating radiators, or anything massively metal, so the metal detectors won't know the difference?
For the run-of-the-mill hyperinflation, holding gold stocks or GLD should work better.
Yes, storage is a problem with PMs, but that's because PMs are something real, and not some price of paper or digits on a screen like most forms of "wealth."
Put it in safety deposit, or self storage, or keep in your attic. Just make sure no one knows you have.
Safety deposit box: no
Self storage: no, those are too easily broken in to.
Attic: in a safe, sure, but not large amounts
Letting no one one you have precious metals: this is actually the best way to protect your metals.
I don’t have any but I’ve thought before about where a good hiding place would be…best I could come up with is if you have a crawl space you could bury it there. People hate going in crawl spaces. No one would see you bury it, nobody would go metal detecting there and even if your house burned down the gold would be safe. Perhaps you could put in a will or something where it’s buried in case you suddenly die.
Owning physical is not practical unless your reason is to have something should the world order collapse. Storing in a remote vault does not protect you in that scenario nor does safety deposit box. Another big negative to physical is the buy/sell spread which is high right now, over $100 per ounce premium at most dealers to buy 1 oz Krugs or Eagles. Then there is the issue of safely getting it to a buyer when you sell. Most people don't have a local place that will buy at spot price and the cost of insured shipping is prohibitive.
I own GLD for the counteracting effect to my equities and it is easy to buy and sell. I sold a third of my GLD holdings yesterday morning when gold popped over the Ukranian invasion. If that had been physical I'd have had to retrieve my bullion, pack it up and ship off to a buyer with quite a bit of shipping and insurance costs not to mention the actual risk of shipping a couple pounds of gold. And I couldn't have gotten that peak morning price because of having to ship while the price was coming back down.
Don't let the naysayers scare you about "paper gold". Other than those who want to just own a few ounces it's far and away the best way to own gold. I do like to have a couple of gold coins to hold in my hand and appreciate but all the issues I detailed above make physical gold impractical for me.
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