Gold doesn’t take up much room. A hundred thousand dollars worth of gold bullion will fit in a normal-sized coffee cup. One million dollars worth of gold would easily fit in a normal-sized dinner plate.
Silver takes up a bit more space. Twenty thousand dollars worth (approximately 500 ounces) would fit in an average shoebox. And a medium-sized gun safe would hold all the silver and gold most people would ever have in their life.
But due to their value, it's smart to secure them and keep the knowledge of their existence private. Most of our clients keep their metals at home in a safe or at one of our recommended domestic or international vault locations. If you have a home safe, I recommend bolting the safe to the floor and keeping the metals in the safe.
It’s best to put the safe somewhere inconspicuous, not in the middle of the living room.
Make sure the safe is fireproof so a house fire won’t destroy all your assets. And make sure it is a difficult safe to open. Some safes out there are thick and sturdy, but easy to pick.
If you don’t want to hold it at home, you can store it in a private, regularly audited, and insured vault. Do not put it in a safety deposit box at a bank—for several reasons but mainly because safety deposit boxes are not FDIC insured. In an era of failing banks, the last thing I’d want is for my bank to fail and seal my box so I couldn’t get access to my metals.
Most third-party, privately insured vaults that hold your metals will charge a monthly fee based on value. Others like My Gold Advisor are specialized boutiques with unique storage services for members at no cost.
My Gold Advisor offers storage services with an instant cash and wire option. With this option, a client can call the vault and sell any portion of their metals with the proceeds wired to them the same day.
They can also have any part of their portfolio shipped by UPS or FedEx to any location in the world by simply placing a phone call. These services provide peace of mind to clients that their metals are protected while still ensuring they have instant liquidity at any time and any place.
The last thing you want is to have your metals stuck in a vault when you need cash for something. So with these services, you can have the best of both worlds: peace of mind knowing your metals are protected, and the flexibility of instant liquidity at any time and any place.
