Being SAFE With Your Precious Metals

Many investors value the advantages of owning physical gold and silver bullion. Unlike paper assets, precious metals don’t rely on banks, funds, or digital systems. They’re universally recognized, highly liquid, and have served as a trusted store of value for centuries. Gold also acts as an inflation hedge and a way to diversify your portfolio, since precious metals often have low correlation with stocks and bonds.

Physical gold and silver – like coins, rounds and bars – offer unique advantages, but they also come with important safety considerations. Here’s what you need to know to store them safely.

How to Buy and Store Physical Gold

There are several options when it comes to buying and storing your precious metals. While some people aren’t comfortable storing valuables like gold at home, others feel the opposite and would rather have complete control over their physical assets.

Choosing The Best Gold Dealer

There’s an abundance of options for those looking to buy gold or other precious metals. Buying gold online can offer convenience, a wider selection of items, and the ability to quickly compare prices. But it usually comes with added shipping costs, and there’s no instant gratification of metal in your hands.

However – even when accounting for shipping costs, buying gold in person could mean higher prices overall. This is because brick-and-mortar stores typically have higher overhead costs, which are often reflected in their prices. Selection may also be more limited, and there’s always a chance that you’ll have to deal with a pushy seller in person.

Finding a Trusted Vendor

No matter how you choose to buy your gold, the most important factor is choosing a reputable company to ensure you receive an authentic, fairly priced product. Ideally the seller will have longstanding experience in the industry, with plenty of good reviews to back them up.

Garfield Refining, for example, has been in the precious metals industry for over a century, and we hold a strong reputation as one of North America’s most trusted refineries. Our bullion program gives you the option to purchase gold or silver bullion outright, or even exchange the value of refined precious metals for bullion! Check out our Gold Scams Prevention Guide for tips on safe gold buying.

Storing Your Gold

If you’d prefer to store your own gold, it’s important to invest in a precious metal safe to maintain proper security. And as with any major purchase, it’s wise to spend some time researching options before choosing a safe.

Precious Metal Safes

When shopping for a safe, think about how your precious metals collection may (or may not) grow in future years. Maybe you’re planning to continue investing in for years to come, or perhaps you’ve inherited gold from a relative and are just looking for a secure place to store it.

Either way, it’s wise to consider whether or not you’ll need extra space in your safe before choosing a size. The safe market has tons of different models to choose from, so here are a few tips to help you navigate your purchase.

Fire Safes Vs. Burglary Safes

Safes are usually designed to be either fireproof or burglar-proof. Many residential safes claim to offer both, but quality varies, and they may not provide the same level of protection as specialized safes. It’s helpful to look at the specific ratings and certifications on a safe to truly understand the level of protection it offers.

UL Certification

Always look for a safe with a UL (Underwriters Laboratories) rating. UL is an independent organization that tests safes for security and assigns ratings based on how well they resist break-in attempts. The higher the rating, the more protection the safe provides.

Here are the most common UL ratings to know:

• • RSC (Residential Security Container) – Resists basic break-in attempts for up to 5 minutes
• • TL-15 – Resists attacks with tools for 15 minutes
• • TL-30 – Resists attacks with tools for 30 minutes
  

For higher-value collections, you may also see:

• • TL-30X6 – Protection on all six sides of the safe
• • TRTL-30X6 – highest level of protection, including resistance to torch attacks

Choosing a UL-rated safe is one of the most reliable ways to ensure your assets are protected.

Storage Vaults vs At-Home Storage

Storing your gold in a vault is another responsible option, with its own pros and cons. Depending on how close you live to the facility, a vault could be pretty convenient. Most vault operators offer 24/7 access to the gold stored in their facilities, which means that gold owners can access their assets quickly should they decide to sell.

Vault storage typically offers a high level of security and protection with advanced security systems, 24/7 surveillance, alarm systems and restricted access. Many vault operators also provide insurance coverage for the gold they store, providing peace of mind and an added layer of protection.

However, cost is a factor when it comes to vault storage, as most operators charge storage fees that will vary depending on the quantity of gold and how long it’s being stored for. Just make sure that your gold

storage provider is transparent about storage fees and any policies that may subject you to fee increases or changes down the line.

How to Store Gold Jewelry

There’s no one-size-fits-all approach when it comes to storing gold jewelry, but it’s important to be strategic about it. Gold jewelry requires special care so that it doesn’t get scratched or dented, as gold is a naturally soft metal.

Gold jewelry should be stored inside of a jewelry box lined with dry fabric to provide cushion and humidity control. It’s also smart to store gold separately from other types of jewelry – this can prevent scratches and chemical reactions. Store your gold jewelry in a place with stable temperatures and low humidity.

Last but not least: when you’re not wearing your gold jewelry, you may want to store it in a safe with your other valuables.

Garfield’s Safety Protocols

At Garfield Refining, we deeply understand and appreciate the value of precious metals. We take the safety of your gold, silver, platinum and palladium seriously. If you have precious metals that you’re looking to refine and monetize, we guarantee that your assets will be safe and secure throughout the entire shipping and refining process.

Garfield offers fully-insured, free shipping. Once your shipment arrives, our entire facility is equipped with an advanced video surveillance system and monitored by onsite security personnel. All precious metal material is stored in a series of vaults and safes. And as one last failsafe measure, all metal at our refinery is fully insured.

Combined with our award-winning customer service and industry-leading payouts, Garfield Refining ensures your precious metals are safe and accessible when you’re ready to cash in!

Consider selling your gold, silver, platinum or palladium? Learn more about Garfield’s process and get started by downloading a complimentary shipping label!