How to store your gold ?

Owning gold requires a specific and secure storage location. For this, some people opt for home storage. This is one of the least expensive solutions. However, to successfully store your gold at home, you must follow a few rules.

Adapted equipment

Gold bars and gold coins for investment or collection cannot be kept like any other object. These are savings or investment products to which you should pay particular attention.

To do this, invest in a safe. It is an ideal solution for storing your gold protected from light, humidity and handling which are all situations capable of damaging your objects.

On the other hand, you have access to your bars and coins whenever you want. In fact, you can sell your products, without waiting for the possible opening of an establishment specializing in the custody of ingots.

However, the risks, particularly fire, should not be neglected. Gold melts at a certain temperature. Therefore, choose the purchase of a fireproof safe.

Finally, the purchase of protection (cases, etc.), materials (gloves, handling equipment, etc.) is recommended.

Have good insurance

The purchase of gold, then the possession of gold bars or coins, is similar to the possession of precious objects. Some insurance covers you for everyday objects (jewelry, watches, etc.), but not necessarily for physical gold. Contact your home insurance company to find out more. You may need to increase the limit, or take out dedicated insurance in order to retain the full value of your assets. Otherwise, in the event of theft or fire, you risk losing your investment.

Let's live happily, live hidden

Discretion is the key word when owning physical gold at home. This is because gold held at home is more likely to be stolen. A burglary can take place and your money disappear. So, to protect yourself from this risk, only confide in people you trust completely.

Also, place your safe in a discreet place in your home. Avoid the living room or dining room where many people might see that you have gold bars.

On the other hand, you can also choose not to keep all of your gold at home. This reduces the risk of loss in the event of a problem.

Disadvantages not to be overlooked

Storing gold outside the banking system has disadvantages:

• A more difficult resale: the price of gold is increasing and you want to sell ? You will have to find a trusted store to buy your physical gold. In addition to this first difficulty, the estimate can take several days. In fact, holding gold bars or gold coins at home can be an obstacle to rapid resale;
• The loss of your products: safe or hidden in the house, people find ingenious solutions to keep gold objects safe. However, it may happen that a death occurs. If no one knows about your gold assets, it can be lost forever.
• Theft and burglary;
• Deterioration: storage at home means handling. These are all risks of irreversibly damaging your gold bars and silver bars. 

Your bars and gold coins can be stored in safe and secure locations outside of your home. For this, you have two solutions: banking establishments and private companies.

Banking establishments

Some banks offer their customers the rental of a safe at the bank. So, you can place your bars, coins or any other valuable document there. This solution offers advantages:

• Low price: small safes are available from 100 euros per month. The banks have more or less large vaults, intended for all budgets;
• Optimal security: your ingots are stored in enclosed areas, monitored and protected against intrusions.

However, be sure to take out special insurance if it is not included in your trunk rental contract. Otherwise, you will not be covered in the event that damage is caused to your valuables.

On the other hand, storage in bank safes involves risks:

• You do not have access to your gold when you want, because the banking establishment is not always open;
• The risk of bankruptcy: however minimal it may be, it exists. Some banks had to close during the subprime crisis, denying access to customers.

Private companies

Private companies offer a quality storage service:

• The locations are discreet and the security systems efficient: they have nothing to envy of banking establishments;
• They are located in stable or neutral countries;
• Insurance is included in the rental price: this is the case for secure vaults;
• Easy access: only for specialized companies.

Access to strong rooms is prohibited. On the other hand, you can resell your bars directly from the vault and receive payment in your bank account. On the other hand, delivery of your gold or silver can be done within a few days.

The Gold Union agencies welcome you all year round to present a wide range of bars, French gold or silver coins, as well as the various storage solutions that exist. You can now request an appointment online via our e-commerce site, or in agency with one of our Gold Union experts.