I often get asked how to store Gold Coins which I think is a universal question that can be applied not only to coins but all types of physical gold. Any investment into gold coins is going to raise the obvious question of; how to store them?
There are several popular ways to store your gold coins and protect their integrity. The methods will differ on where you intend to keep the coins. Storing them in your house has different challenges than having them in a safety deposit box or holding company.
One of the most important parts of storing multiple gold coins is ensuring they are not touching. That way they have no chance to oxidize together, wear against each other, or cause damage and gouging to the actual coin. This is even more integral with historical gold coins whose value is typically based off of the historical value of the coin as opposed to the value of the gold. The value of gold is almost always lower than the actual physical amount with historical coins. That is mainly due to the purity.
Your modern coins can be kept apart through a number of different methods. One of the more popular is to use plastic cases for the coins. They will seal in an individual coin, keep it airtight, significantly slow oxidation, and protect the physical surface. It is best to inquire with the dealer about which cases are most appropriate. Cheaper or poorly made plastic holders can tarnish the coin or cause subtle amounts of damage to it. This is an excellent method for long-term storage.
Coin pages are a decent choice for short-term display of your gold coins. It is not recommended to store them in pages for a long period of time. They tend to run into the same challenges that poorly made individual plastic holders have. That type of holder is simply not that appropriate for long-term storage.
There are a variety of other types of dividers and holders. Some owners even opt to keep their coins divided in different envelopes. It is simple but not as effective as a plastic casing for your coins. Methods such as wood and paper dividers also fall in the same categories. They are useful but not optimal.
Gold coins Storage: Home or Safety Deposit Box?
- There have been cases when people died suddenly without a chance to inform their family whether and where they have stored or hidden their precious metals. As a consequence, some of those metals were never transferred to the hands of their family as wanted.
- In a confiscation scenario, any access to safe deposit box contents will be monitored by bank personnel and/or government personnel.
- in the event of a SHTF scenario or major economic collapse you may lose access to your precious metals if the situation involves the Bank(s).
- Best to store gold coins and high value numismatic coins in a safety deposit box. However, since silver bullion takes up a lot of space, it’s best to store silver at your house.
- multiple places stack divided up…. therefore, if you take a hit… you never get hit for everything.
Security of your gold coin collection should be the next most important point in mind. Storing them in your house may seem great to have them close and on-hand. If you do so, you will want to have the coins stored in a fireproof safe where they will not be easy to steal or melt in the event of a house fire. Storing your gold coin investment is better done in a bank or a professional holding company that specializes in that type of protection.
Is that to dissuade you from enjoying your gold coins where you can easily see them? No. The unexpected and accidents happen, that is why they are called the unexpected and accidents. If your coins are caught in a house fire and melted into slag with other materials, your investment is going to be ashes in the wind. An investor that does want to keep some of the gold coins on hand would do well instead to keep just a few at home and store the bulk in a security deposit box or with a holding company. That way even if the unfortunate occurs, you do not stand to lose your entire gold coin investment.