Keeping Your Gold Safe
If you’re thinking about investing in precious metals, you’ll need a safe that is designed to securely store gold bullions. Gold has seen some fantastic return in value over the past decade. Since its first recognition as a precious metal in the early centuries, gold has held a special place in the mind of humans. You need to carefully choose the safe you wish to buy to keep your gold inside it, putting your precious metals in a low grade or substandard safe can result in detrimental consequences.
Since the global financial crises, we have seen a big increase in the sale of jewellers safes. When I investigated this further, I discovered some intriguing theories on why this was the case. Firstly, of course, is because of the lower returns available from the stock market and the interest paid by the banks; the second reason is due to the skyrocketing rental fees on traditional gold storage safety deposit boxes.
The protection offered by bank safety deposit boxes is undeniable, but the fees associated with it run from $600 to $1400 per year, which is literally cancelling out any gains in gold prices. Apart from this, banks have also tightened the restrictions on their safety deposit boxes, and some have imposed weight limits on bullion and gold.
On top of this, gold bullion is extremely expensive to insure because it is so easy to be disposed of, and nearly impossible to trace as it is so easy to melt.
As the bank vault storage fees and bullion insurance premiums rise at an unprecedented rate, purchasing gold and silver has never been more profitable. However I must emphasis that it becomes an all or nothing type of investment that you need to bear the risk personally. When you place your hard-earned gold in a safe, make sure the safe can survive an attack from both an opportunist thief and a professional criminal.
For this purpose, a high-quality jewellers grade safe has been designed and built. One of the most common enquiries I received is the need for a high quality and compact safe. Unfortunately there aren't a lot of choices available and the prices are high. People appear to believe that hiding a safe is a good approach to prevent crime, and small safes are easier to hide. I however disagree with this, and I believe that any safe intended to keep gold should be able to withstand an attack, and that you should presume that if a criminal is inside your home, he will find the safe. To put it in simple terms, if you’re in possession of precious metals such as gold billions, you need a good quality safe and you can’t count on the burglars not finding it. I have also heard numerous horror stories about people losing all of their gold by storing them in a hardware store bought safe that were built on the basis of price rather than quality.
To summarise, in order to select the most suitable safe to buy, you need to first estimate the value of the gold you wish to protect within it, and then select a safe with a corresponding cash rating. For example, if you wish to store $100,000 worth of gold in your safe, you need to look at a security safe with high cash rating, such as the Guardall KCR series. The Guardall KCR range can keep your gold safe even if the outside hinges are cut off. If you need more information on cash rating or insurance ratings, click here for more information, or contact our friendly staff to discuss your requirements.
It is worth mentioning that jewellery safes are generally bulky, so stairwells and floor loading may limit where the safe can be positioned. A second hand gold safe, as long as it is of jewellers grade, is also an excellent alternative. Jewellers grade safes often contain a high quality key lock as well as a Lagard digital lock, making it extremely difficult to open. It is ideal for storing gold!
Even if you purchased your safe elsewhere, it is advised to evaluate it because it is much better to know how strong your safe is than not knowing. If you want to evaluate it, send us a photo of your safe, our security experts will look into it and let you know what your safe is capable of guarding. We have extensive experience in all aspects of safe related enquiries including the purchase, moving, installation and lock conversions. We happily welcome any questions from you, just give us a call on 1300 764 971.