How to Store Precious Metals in a Residual IRA Account? If you are a consumer and a dealer in precious metals, then you must understand how to store precious metals in a safe manner. In the past, consumers, especially those with small investment accounts, were unable to safely store their own precious metals, which often resulted in loss of value and even theft. Today, with the advancement in technology and particularly with the use of the Internet, this type of security can be achieved with relative ease.
The Secret Of How To Store Precious Metals
A few years ago, there was only one way how to store precious metals. If you purchased jewelry or bullion, then you had to store it in a bank deposit box. Although this may seem to be an effective means of storage until disaster struck (i.e. a fire or a burglary), it is actually not a very safe way. During Hurricane Andrew, investors lost millions of dollars worth of gold, silver, and platinum because of flooding. Even worse, if a metal in your inventory was to somehow break loose from its storage location, the possibility of theft or damage from elements outside of the box was extremely high.
Today, there are a variety of safe options for storing your precious metals that include coin and bullion safe boxes, jewelry safe storage options, and a wide variety of different investment vehicles such as gold & silver coins, bullion bars, and collectible coins. The best option, however, is to utilize a service that specializes in providing secure storage options for the precious metals that you own. Such a company would be able to take your standard bullion or gold storage needs and develop a solution that is specifically designed to meet your needs. One such solution is provided by Pacific Precious Metals.