Main difference between gold and silver
The main difference between gold and silver is the amount of space silver takes. Silver takes up a larger amount of space than gold and is therefore much harder to hide. This article will teach you how you can store your bullion safe and efficient.
Why should you have some silver and gold in your home?
It may seem weird to keep something as precious as gold or silver in your home, but it can be useful in some cases…
In the case of an economic collapse, government breakdown, war or an apocalyptic event silver and gold will help you keep you and your family alive…
But, you shouldn’t keep all your precious metals in your home, just enough to get you through a crisis.
What should you consider when storing gold and silver in your home
- Gold is worth 73 times more than silver and silver is 84% more dense than gold. That results in silver taking up 128 times more space than gold for the same value. You can easily hold $50 000 of gold in your hands, but the same amount of silver would take up 6 shoe boxes.
- How much are you comfortable keeping in your home? Here is some consideration to help you answer that question: How secure is your home? How many people know that you own gold? If you use a safe, how secure is it? Is it small enough that a thief could walk out with it? What would you do if someone threatened you or one of your family members?
- Do you have good hiding spots? A good when choosing a hiding spot is to choose a place where electrician or plumber can’t stumble upon it and hide your bullion three layers deep. Most burglars are in a hurry and will never find your gold if it is too complicated to get a hold of. Safes
A safe is a good place to store your gold and silver. There are two types of safes you can use, a key safe and a number combination safe.
If you use a key safe, make sure to hide your key separately from the safe…
But, you are not immune to robbery if you use a number combination safe. A robber could threaten you to give them the combination.
You should also consider buying two safes, one cheap with just a few items in it so the thief will think that he got your stash and the real one. You should invest some money into your real safe and it should be well hidden.
Even though a safe isn’t robbery proof, it will buy you time.
Midnight gardening is a term used for burying your gold or silver at night so it will be unnoticed. You will need a waterproof container to keep your metals safe from mother nature and you need to remember where you have buried your gold…
Some gold investors make a treasure map and some people bury it a place they can easily remember it. A tip to when remembering your hiding place is to plant a bush or some flowers where you buried it.
However, midnight gardening is not recommended if you will need your gold or silver often.
Third Party Vaulting Service
When your collection of gold and silver starts to grow, you should start to consider a third party vaulting service.
The keys to keeping your metals safe in a vaulting service.
- Keep them outside the banking system.
- Fully allocated in your name.
- Fully insured.
- Easy online access.