How to transport and store your physical gold

Julie Brownlee, Fsp Invest, 07 Aug. 2015

Tags: gold, how to transport gold, how to store gold, physical gold, gold coins,

Not only is gold a precious metal, it’s a form of insurance in the event of a financial crisis.

A well-diversified portfolio should contain a small portion of physical gold in it.

So where is the best place to store your gold?

Read on to find out…

Transporting your gold

If you need to travel with your gold and it’s in a small and portable form like coins, keep them on your person.

Interestingly, gold coins won’t set off metal detectors at airports if you keep them in your pocket, Tom Dyson in Palm Beach Daily explains. This is because gold coins don’t contain ferrous metals (iron), which sets off metal detectors.

If you put your gold coins in your hand luggage, they will show up on the x-ray machine in the airport.

How to store your gold

There are a number of ways you can store gold…

Bank safety deposit box
A bank safety deposit box is an easy way for you to store your gold. You may have to pay your bank a small fee for the use of a safety deposit box or you may be able to use one for free.

Keeping your gold here is one safe option to consider.

A vault
Depending on how you buy your gold, you may be able to store it in a vault. Or you can put it there yourself. There are a number of different ones.

But if you don’t have a large amount of gold, this may be an expensive option.

At home
This is the cheapest option for you as you don’t have to pay any storage charges. But you need to ensure it’s in a safe place.

You could have a safe in your house hidden and secured to the floor in a place in your house.

You could even bury your gold by using a waterproof coin tube. Just make sure you know exactly where it is.

If you opt to hide your gold in the ground, make sure you tell one other person exactly where it is in case something happens to you.

So there you have it. How to transport and store your physical gold.

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