Where do I Store My Coins & Bullion?

Where do I Store My Coins & Bullion?

I strongly recommend storing your coins in one of the two places outlined below. NEVER let a dealer store your coins. It is crucial for you to hold on to your own coins and not leave them in the hands of any third-party. Whether you keep your bullion and/or coins in a bank safe deposit box or a home safe, always keep an ongoing and updated inventory of all coins for your protection.

Safe Deposit Box at Your Bank

If you secure your coins in a bank safe deposit box, remember these things:

  1. Put the box in a corporate or family trust name with your most trusted relative or friends allowed access. In many states, Safe Deposit Boxes are sealed if the owner dies, however corporations or family trusts never die.
  2. Keep your contact information updated on the safe deposit cards.
  3. Update your inventory list whenever you add or withdraw coins or bullion. Keep at least one copy of your updated inventory list stored separately from the safe deposit box.
  4. Include the name and contact information of a trusted coin dealer in the event a family member or friend ever needs to sell them.
  5. If you have a large amount of gold and silver or other valuables, weighing over 40 lbs. We recommend letting the bank hold the nest (removable box inside the safe deposit box). Then place your items in numerous small boxes labeled clearly. i.e. gold coins for grandchild Kathy.

High Security Home Safe

If you secure your coins in a home safe, here are some important tips to help protect against home invasion robberies:

  1. Buy a HIGH SECURITY SAFE, rated TL30 or higher, with a time delay lock.
  2. Place a sticker on the front of the safe stating the lock is time delayed, in both Spanish and English
  3. Contact your home insurance agent and purchase insurance, if he/she cannot provide adequate insurance join the American Numismatic Association (ANA) and become eligible for group insurance from Hugh Woods Inc. Hugh Woods specializes in precious metal and rare coin home insurance at excellent rates.
  4. Update your inventory list whenever you add or withdraw coins or bullion. Keep at least one copy of your updated inventory list stored separately from the safe.
  5. Include the name and contact information of a trusted coin dealer in the event a family member or friend ever needs to sell them.
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