When one decides to buy and take possession of physical silver and Gold ira rollover bullion (coins, bars, and/or rounds), Where to buy precious metals the question arises of where to take delivery and how to safely hold the items for the long term.
Silver is one of the precious metals second in popularity from gold price. The ancient men used it as money. By and by other uses came up such as making clothing, American silver eagle , jewelry, electrical appliances wood preservatives, Silver spot price , Silver price per ounce , Gold and silver prices today and water and food purification.
In a historic context, there is likely no greater protection against theft than owning one’s valuables close at hand while also simultaneously having the items well hidden, out of sight and mind from any threats which may attempt to seize said precious property.
To keep one’s valuables safe from theft, the following axiom certainly applies…
What a Thief Cannot Find, He Cannot Steal
Before we begin brainstorming on creative hiding places for valuables, let us take into account the following 6 rules to follow when planning about how to safeguard your important items:
Rule #1 ➜ SHUT UP
It is very important to maintain discretion by keeping one’s holdings as private as possible. This means to either never acknowledge and/or only disclose hidden valuables to the most trusted loved one(s). The more people who know about a stash of valuables, the more risk there is that someone will take advantage of that intimate information.
Rule #2 ➜ LIMIT KNOWLEDGE
Historically, the biggest threat to your bullion stash is not some rogue government or military.
The biggest threat to your most valuable possessions is potentially your neighbour, housecleaner, gardener, rebellious child, angry spouse, and fills in the blank.
Bullion theft typically comes from people closest to someone or potentially within their first or second circle of acquaintances.
Rule #3 ➜ PRESERVATION via DIVERSIFICATION
Diversifying your physical storage locations may make sense, depending on the size of your bullion stack. If one has a substantial amount of bullion holdings, it may make sense to mix up locations of where and how the metals are held, whether that be multiple hidden locations within the same domicile or spread internationally amongst various countries and geopolitical arenas.
From the one tube silver bullion round buyer to the gold tonne pallet stacker, spreading storage locations might be a worthwhile endeavor to limit the threat of losing all one owns if the worst comes to pass.
Rule #4 ➜ NEVER UNDERESTIMATE
Never trivialize a thief’s drive to find your stash through the use of coercion or even outright violence. Be prepared to even acquiesce a small portion of your valuables to save your life and/ or the life of a loved one.
Money is simply a means to a life well lived. You will most likely agree, the life of yourself and the ones you love trumps all possessions on this Earth.
Rule #5 ➜ DIVERSION INSURANCE
The use of multiple diversion stashes may be very handy to bullion stackers. For example, the use of a cheap obvious safe stacked with clad bullion copies and/or a small stack of bullion you’d be willing to lose in the case of home invasion may come in handy.
Rule #6 ➜ UNSAFE BANK DEPOSIT BOXES
A major mistake many beginning bullion buyers make is to store their physical bullion inside a bank’s supposed safe deposit boxes. The reason this is an unsound decision is multifaceted.
Bank safe deposit boxes are not federally insured, private, or convenient, nor are they all that safe.
The Federal Deposit Insurance Corporation (FDIC) does not insure bank safe deposit boxes in the United States. As an example, a bank employee could steal valuables from a safe deposit box and the FDIC would not only cover the loss, the onus of proof would then be on you, the victim, to redeem compensation from the bank in question.