If you have been doing your research about various types of investments, you might have had the idea to invest in gold bars. Investing in gold (from an outlet such as Rocky Mountain Coin Inc) can be very smart -- you can buy small bars or large ones, so you'll be able to make an investment regardless of your budget. You'll also be expanding your investing options, which means that if your stocks fail or your other investments don't do well, you'll have a completely different backup plan. Plus, you're sure to enjoy owning something as beautiful and valuable as gold, so it can be a lot more fun than many other investments.
However, to avoid theft, you may have thought about storing your gold bars in a safe deposit box at your local bank. Even though you might have heard of others doing this, however, you should know that it's not your best option. These are a few reasons why you should consider storing your gold bars at home -- in a safe place, such as a secure safe -- instead of in a safe deposit box at your bank.
Your Safe Deposit Box is Not FDIC Insured
One reason why you might be thinking about storing your gold bars in a bank's safe deposit box is that you might think that they will be protected. However, you should know that your gold bars -- or anything else that you put in your safe deposit box -- are not FDIC insured. This means that if there is a robbery or other tragedy at the bank, your gold could be lost forever.
You May Not Be Able to Access it in an Emergency
One great thing about gold bars is the fact that they are a completely different type of investment than one that you would make at a bank. If there is some sort of bank emergency or other situation in which your bank isn't open or you aren't able to make it to the bank, you won't have to worry about not having anything with you. Instead, you can grab your gold bars, which can be sold to gold buyers, traded or otherwise used to get the cash that you need when the bank isn't open.
As you can see, you really should not store your gold bars in your safe deposit at the bank. Another better choice is to invest in a strong safe to store your gold bars in.Share