Storing Gold

We’ve reached the end of March, and passed through another St. Patrick’s Day. One of America’s favorite holidays in celebrating heritage, you’ve no doubt seen plenty of Leprechauns floating around the past month, lugging around their famed pot of gold coins. We have to ask, is that the best way to store gold? Do these fae-folk know a secret we don’t? Let’s look into the process of storing gold.

When it comes to storing gold, folks tend to fall into two camps. Store at home or hire a third party to store it for you. The least expensive method, and least secure if everything is considered is the secretive storage method. Finding a place in your home or property and tucking it away. So long as no one else knows the location, you have easy accessibility to your wealth. However, if that secret it gets out, there is little to stop a thief from nabbing it. A step above is the safe. Certainly more secure than hiding gold in a hole in the ground, it can protect your valuables from theft and with the proper safe can protect from fire or other disasters.

Regardless of which of those two means you decide, you are going to need to get creative with how you store it. Consider the space the precious metals will take up and figure out some creative means of storage! Experts recommend choosing something at least three ‘layers’ depp, meaning three steps to secure. It is in a safe, hidden under a floor space, with something hiding that floor space. These are meant to deter your wealth from being an easily visible mark.

Past those two means, really the only way to go is through a bank safe deposit box or a third party wealth storage facility. Any way you go about it, it’s bound to be a bit more secure than lunking around a cast iron pot full of gold coins. But then again, we’re not magical beings.