How to Store Your Coins

You invested in gold and silver to protect your loved ones financially during difficult times. But till that moment arises, it's up to you to preserve and secure your bars, precious metals, and Eagle Coins in West Palm Beach.

Many factors, including your sense of security, will be determined by how you keep your precious metals. We examine the benefits and drawbacks of several storage options to help you decide which is best for you.

Storage Options for Your Precious Metals

Home and Personal Storage 

Keeping your precious metals with you at home provides you the most control and access to your possessions.

To keep the sheen of those magnificent coins throughout the foreseeable future, you may purchase coin tubes, albums, and capsules. If you have a lot of metals that need to be kept safe, you might choose to invest in a secure private home.

Pros: 

• You have physical access to your gold at all times. 
• After the initial expenditure of purchasing a vault or other storage container, personal gold storage is practically inexpensive. 
• You have the option of storing the gold in a specific setting.

Cons: 

• Having a lot of gold in your house might put you in danger of burglary or other damage. 
• Catastrophic events such as fires, floods, and other natural calamities can harm or demolish your assets. 
• Many renter's or tenant's insurance policies exclude precious metals from coverage. 

Vault or Safe Deposit Box at a Bank

A safety deposit box or vault at your local bank or a private bank vault is another option for storing your precious metals. Safety deposit boxes are available in a variety of sizes and are reasonably priced. Bank vaults are also safe, and theft from a bank vault is uncommon. If you have access to one, storing your valuables in a bank vault is much safer. 

Pros: 

• The single key available will be provided to you. 
• A safe and secure place to store your precious metals. 
• Convenient if you are not home most of the time. 

Cons: 

• Limited space, based on your payment plan. 
• The bank does not cover or take liability for loss of contents. 
• Only available during business hours. 

Depository or Third-party Storage Firm 

A depository or third-party storage organization is another alternative for keeping your metals. This is by far the safest technique for storing your valuables, especially if you have a lot of them. 

Pros: 

• Large amounts of bullion can be stored. 
• Security is superior to that of a consumer bank. 
• Unallocated bullion accounts can be paid in cash very instantaneously. 

Cons: 

• Only interested in institutional trades. 
• Only big cities have them. 
• To start a storage account, most companies need a minimum of 1,000 oz of gold.

Want to Learn More About Eagle Coins in West Palm Beach?

At Endeavor Metals Group, we supply you with unique and quality coins. Contact us today to know more about the coins we sell!