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Storing Gold Coins

Blog Nov 6, 2009

Storing gold bullion and rare gold coins after you purchase them is the next very important step to securing your wealth over the long-term. You want them to be safe and secure without degrading in value over time. There are a few options to you depending on what you feel most comfortable with.

Storing gold bullion whether it be in coin form or bars and ingots is slightly trickier than storing rare gold coins. Gold bullion is considered to be a monetary metal; therefore the government frowns upon you holding it in a bank safe deposit box. It is considered to be hoarding like cash. Therefore with gold bullion one must keep it in a home safe, whether it be a gun safe, fire proof safe or a floor safe. Some people choose to hide them around their home or bury them in their yard. Others keep them in a private safe deposit box that is run by a business vault (not a bank). If hiding them in your home you will need to find a safe place that no one will be able to stumble upon them.

Rare gold coins can be kept in a bank safe deposit box; therefore many individuals choose this option. However, many are scared to do that since bank failures are at an all-time high, and the red tape can mire your ability to get to your coins should your bank fail. In the case that bank failures scare you, you would then have the same options that you have with gold bullion for storage. The beautiful part about acquiring rare gold coins is that if they are graded then they are sealed in a sonically sealed transparent plastic container which protects the coin from any degradation over time. The transparency of the plastic allows you to be able to see the coin and enjoy them while they are protected.

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