How to Store Your Silver Cheaply

Once you have invested in silver coins and silver bars, you will need somewhere safe to store them. You don't have to pay a lot to do this.

The Price is Right
Storing your silver at home is free, but you will need to spend some money for equipment. Experts strongly recommend buying a high-quality fireproof safe. Silver, like most metals, is pretty hard to damage. However, fire is one of the few things that can seriously damage your silver. A small fireproof safe that is portable is only around $100. If you want to have a permanent fireproof safe installed in your home you could spend anywhere from a few hundred dollars to a few thousand dollars. But for that expense you get peace of mind and immediate access to your silver coins and silver bars.

Great Price, Limited Access
Renting a safe-deposit box costs under $100 a year at many banks. It may even be cheaper if you rent from the bank where you are already a customer. For that price you get the great security that the bank already has in place. But there is a limit on the amount of space available. If you are planning on buying a lot of silver bullion or if you are a serious collector of silver coins and silver bars, you may need to rent several boxes which will increase the cost. You will also only be able to access your silver during normal banking hours.





​Security and Access at a Decent Price
If you don’t want to keep your silver at home but you want more access than you will get from keeping it in a bank, you can rent a space at a storage facility. Storage facilities that only store precious metals have great security systems in place designed to protect silver and gold bullion. But most storage facilities have extended hours that allow for a little more access than banks. Keeping your silver coins and silver bars in a storage facility could be the perfect solution for you.

The Same Tips Apply
No matter where you decide to store your silver, there are some things you should never do if you want keep your silver safe. Never talk about your silver bullion in public. You don’t know who might overhear something. Never let anyone, even a friend or family member, know exactly how much investment silver you have. Never take anyone with you to your safe-deposit box or a storage unit unless you are going to give them access to your silver coins and bars. If you follow these tips and don’t broadcast your investment, your silver should be safe no matter where it is stored.



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