08 May, 2011

How to Store Precious Metals at Home

In case of emergency, or difficult financial times, it's important to have valuables on hand for liquidation purposes. They also make grand heirloom pieces, to be passed down from generation to generation. If you have precious metals at home, store them in a safe, secret, accessible location.

1. Install a home safe. Using a home safe is the most common method for storing precious metals, expensive jewelry, important papers and emergency cash. Choose a safe that is waterproof, in case of natural disasters, and very large and heavy, to discourage burglars. Choose a safe that opens with a combination lock, rather than a key lock, to prevent any mishaps.

2. Bury your precious metals in the backyard. If you can't afford a safe, this method can be just as effective, for a fraction of the cost. Put the metals in some sort of weather-proof container before you put them in the ground, and encase the box in plastic to be doubly sure. Mark the spot in an inconspicuous way, in case you forget exactly where you buried your metals as the years go by. Plant a certain type of plant or strategically place your attack dog's house over the spot to ensure the security of your secret location.

3. Invest in a safe deposit box at a bank close to home. According to US-Gold-Bureau.com, most banks charge between $30 and $200 annually for the service. You will receive several sets of keys to your box; hide the keys in various locations around your home for discrete, easy access.

4. Store the metals inside of a false wall. Many older homes come equipped with secret walls or passageways; take advantage of the inherent secrecy. Newer homes can have false walls installed. In addition to false walls, storing metals underneath loose floorboards also makes a secure hiding place. Encase the metals in some sort of weather-proofed container before storing.

5. Keep it a secret. Discussing where you've stored your precious metals is your greatest security risk.

6. Be discrete. Don't go in and out of your hiding place often. Allowing someone to witness your hiding place can be just as damaging as telling them about it.

Again, thanks to eHow.com
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