What About Storage? - How To Invest In Gold
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- Опубликовано: 7 сен 2024
- Where and how do I store gold? It's a VERY frequently asked question! In this episode of our "How To Invest In Gold" series, Michael discusses the various methods of storing physical gold, silver and the other precious metals. This video is perfect for beginners. Questions? Visit www.bullionnow... to find our contact details, we'd be more than happy to help you.
Throughout our How To Invest In Gold series, will be answering the most frequently asked questions on how to invest in gold and silver, plus the other precious metals too.
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Need to buy gold or silver in Melbourne, Australia? Come see Bullion Now for all your gold and silver bar and coin needs, now located right in the heart of the city! Need something a bit more special? Little Coin Shop has you covered with the best collection of collector's items!
And if you need to sell gold, silver or other precious metals... we pay 100% of spot price. To our knowledge, that's the best in the business.
Bullion Now & Little Coin Shop
Suite 605, Level 6
227 Collins St
Melbourne
If you store gold at home, make sure you also have some lead.
My lead is coated and weighs around 210 grains. The ends hollow
:)
Storing gold at home is too risky
what does the lead do?
I just purchased my first 10g Perth Mint gold bar off you guy's last week & I'd have to say I'm very excited about this purchase 👌 I would definitely recommend purchasing bullion from the Bullion Now team & keep up the great work guys 😊
Got my second delivery of Bullion Now today won't be my last very impressed with you guys and the service you offer.
Great to hear Wayne!
Great advice Michael. Thanks again
No worries!
Imagine prospecting with the ol' Minelab and finding a pipe with 100oz gold.
I used to have several safety deposit boxes but closed them and relocated it all glad I did my bank closed due to that thing we can't mention
Banks are the last place we'd suggest for that very reason.
That"s good advice , Don"t go around advertising your got a small fortune at home
Definitely
I've seen people use cofee cans dump the coffee out seal them up in airtights bags and refill the can.
Neat trick!
6:23 What thing can't be mentioned?
My form of security right now is I own nothing
freedom's just another word for nothing left to lose (Kristofferson)
get some stop making excuses its never been cheaper lol
Time to change that!
Don’t keep all your eggs in the same basket. You need to trust some family members otherwise no one benefits if your not around
decentralized ..were did I hear that before ?
Storing 60 of 1 ounce gold coins is $100 000 and can fit neatly in a medium size box and can easily be stored and hidden somewhere in a house.
Once you tell no one your money is safe!
Gold is great for that. Concentrated wealth.
Don't store it in the roof. 2 reasons it could be heavy and damage the house. But the main one is if a fire occurs it will be hot enough to melt your stash. As a volunteer firefighter fighter I have scene this. And also life threatening if your in the roof retrieving it before a bushfire evaluation
Can fireproof safes withstand a fire? And wouldn't molten metal still be recoverable?
@@AY-vi2ld the few house fires I have seen many things happen. One is radiant heat from the hottest temperature in the roof. Another is water damage. But others brands of expensive safes are ok. But I have definitely seen 3 melted in the roof
@@petergracemeguide1280 I think that even if your safe melts into a pile of molten metal, the gold or silver is still there and can be refined and recast but the process will probably cost you up to 30% of it's value
Mason jar or thermos inside a watertight Tupperware box in the basement. Keeps the firefighter water out, the space between both containers keeps the heat away a bit longer and glass shouldn’t melt too quickly in a normal house fire so you’re not ending up with molten plastic with embedded coins and bars. But even if it does, should be comparatively easy to refine and pour into bars again, glass swims on top.
@@Hamachingo fair thought
I believe banks don't offer insurance on safe deposits!!
Not sure. It's possibly different at different banks
If you bury it, just have an extra box inside labeled “time capsule to be opened in the year 2100”. That way even if somebody finds it by chance, they might leave it closed and put it back.
unless they read what you have written
That's brilliant.
Does anyone have any safes they recommend?
You can find decent ones on ebay for a fair price. Look for ones with both electronic and key lock in case there's an issue with the electronic code. But there's also crappy ones so use google to do DD.
We're going to do a video soon on safes!
What's your budget? I'm looking into Brown safes. They can get quite pricey, but you get what you pay for...
@@shyuc Brown are definitely the pinnacle of safes. I would have to save up a bit for them I guess I was kind looking out for a starter style I don’t have a huge haul only about 80oz in coins and pieces.
@@BullionNow Did you ever make that video in the safes?
What do you guys think of removing 1oz gold bars from assay packaging? Is the plastic and paper a marketing gimmick? Or is removing them a foolish decision come re-sale time?
@@michaelpatnaude I agree. But wondering what a bullion dealer thinks in terms of impact to resale price.
I don't like coins because of that ....bars it does not matter ..as far as selling .....for me its the metal that's precious not the mintage or the art work ..I go for weight not artistic or rare mintage value im more of a stacker than a collector
@@Tony-de4px Same with me. Relying on the plastic and paper to authenticate the gold is a contradiction as to why we value gold to begin with. I'm in Canada so maybe it's different where you are? But usually it's coins I see held in bare hands and bars are kept in the ridiculous packaging.
Up to you. If you want more than spot for them later on, then keep them in packaging as you MIGHT get more for them in a private sale if kept in.
@@BullionNow Thanks!!!!
Michael & Joe you may need to get an IT Tech. in to trace the ongoing problem earlier. He/she may be able to get the Internet Provider address of those clowns. cheers.
We are investigating
@@BullionNow HAPPY EASTER GUYS,. Thanks for the reply. I will be in to the shop when this TRACK & TRACE B.S. is over.
I don't want them sticking a thingy up my nose until it reaches the back of my head just because I was in a shop when some 'CASE' was in the shop @ the same time. All the best respects to what you are doing.🆗😎. You know who..
If you can’t hold it in your hands you don’t own it.
if I cant hold it in my hand I cant sleep at night
You too?