Storing gold and silver can sometimes feel like the Goldilocks problem: one option is too far away, another feels too obvious, and a third may seem just right. Coins and bullion were described as sound investments, but finding a secure storage location can be challenging. Collectors generally choose among three methods: keeping bullion at home, using a bank safe-deposit box, or placing it with a third-party storage company.
Of these choices, which storage option is best?
The answer depends on personal comfort, the particular circumstances involved, the size of the collection, and the level of risk associated with where a person lives and overall safety concerns.
Here are several advantages and drawbacks for each storage choice.
Storing Coins and Bullion at Home
Many investors prefer having straightforward access to their silver, platinum, or gold bullion. Home storage can work for people who conceal their bullion discreetly. This is neither a new nor unusual strategy. With this approach, the important point is spreading the amount hidden across several locations. For storage places and methods, creativity is the principal limitation.
If storing a collection in a safe, the original article advised making sure you
At the time of original publication, the article described the following: have a TL-15 rated safe that can be anchored to concrete in an obscure or concealed area. It strongly recommended using trusted, bonded home-safe professionals. It also suggested arranging safe delivery at a time or day when most neighbors were away working or with family, to support security and reduce potential threats to holdings. Whether valuables were placed in a hollow dining-table leg, a sub-basement safe, or a brick wall, the storage setting was advised to remain dry and low in humidity. Desiccant packs could help control humidity and keep coins and bullion free from tarnish and toning.
The article also noted the value of limiting how many people know that coins and bullion are owned. It stated that the greatest likelihood of a collection being stolen may involve someone known to the owner, including friends, colleagues, and others.
At the time of original publication, the article described the following: The original article recommended designating an emergency contact who was aware of the collection’s coins and bullion in the event of an emergency.
Storing Coins and Bullion at Banks
For people with smaller collections, safe-deposit boxes are another possible option. They can provide greater security than keeping coins and bullion at home. Bank storage also has disadvantages. The first, according to the original article, is that FDIC insurance does not cover assets kept in those safe-deposit boxes.
The original article also stated that a deposit box was subject to freeze and seizure for reasons ranging from taxes due and court orders to government-policy changes concerning gold ownership or compliance with the safe-deposit agreement. Third-party insurance could be purchased, though it could become a costly add-on. Box sizes were also limited to what the bank had available, creating challenges for bulkier, heavier metals such as 100 oz silver bars.
Third, bank holidays and business hours can restrict access to a collection, particularly as operating hours may be difficult to follow when they change. During the height of Covid, the original article reported that many banks were closed or accessible only by appointment, which could be hard to arrange. It also noted possible delays in accessing valuables if a bank defaulted, was acquired by another bank, or the government announced a bank holiday, meaning a temporary banking-system closure.
The original article suggested using a safe-deposit box only for short-term precious-metals storage rather than as a long-term solution.
Third-Party Coin and Bullion Storage
For collectors unwilling to keep bullion at home or in a bank, privately operated depositories had become increasingly popular when this article was published. For owners with substantial precious-metal holdings, many depositories allowed bullion to be stored at several locations across the United States and sometimes overseas. Many facilities could liquidate part of a collection and wire the proceeds to its owner. They also offered full compensation if bullion went missing.
For those choosing this route, the original article advised storing directly with private depositories. It said such depositories should not be connected to the banking industry and should have an established reputation and history. It also advised against using the same company that sold the collection, since that could create concerns. Such a business might lack sound policies and procedures, including assurance that valuables were 100% secured and allocated. That could create difficulties if physical gold and silver delivery were requested and the items had not been properly separated and stored.
The article described depositories as the most expensive of the three choices. It also noted they can be harder to access, especially when the facility is located outside the state or country.
In Summary
When this article was originally published, Atlanta Gold & Coin Buyers stated that it prioritized customer and coin-and-bullion collection safety. It reported operating from secure locations intended to provide privacy and anonymity, with a team that helped make buying and selling coins and bullion easier. Readers interested in learning about those services were invited to call 404-236-9744 or contact us online.
