The spot price of an ounce of silver is about $20.00. Setting aside a part of your portfolio to buy silver is always wise.
With the ever-rising inflation rates, tangible assets will be most profitable. Some financial advisors advocate for silver bullion more than they do gold.
This is because silver has more industrial use than gold making it a better inflation hedge.
However, investing in tangible assets has a downside. It would help if you thought about safe silver storage options.
Protecting precious metals from theft or degradation is your primary concern. Join us as we discuss several ways how to store silver.
Having a safe in your house is a sure way to protect your precious metals. But having two is better.
You can always get a decoy safe and place it in the most obvious places. A good idea is in the closet or behind a painting.
Let the first safe trigger an alarm system to make sure you catch the preparators in time.
Thieves will never go looking for a second safe unless they know there is one. So avoid spreading the word about your shiny assets.
Have the second safe in the oddest of places. Keep your silver bars and other valuables there.
Installing an ideal silver safe is expensive but rewarding, especially with long-term tangible assets.
Using a hidden room is a genius silver storage idea. Thieves will not go looking for the ‘non-existent.’
A hidden room should stay exactly that, hidden. Restrain the knowledge of the room to trusted family members.
Put the silver bars in boxes, then stack them in the room. You can furnish it with books to make it look like any other space in the house.
Another smart idea is to hide them in plain sight. Camouflage their hidden spots with the background.
Further, ensure that the hidden spots are airtight and note down all the locations. The goal is to attract the least attention to your precious metals.
Safe silver storage options include ones that will also preserve the quality of the precious metal. Plastic containers are not the best option for silver storage. This is because they release hydrochloric acid that corrodes the metal.
Besides, they give off other toxic gases that make it tarnish at a fast rate. Degradation of the quality will beat the purpose of the investment.
Avoid using tape on your silver bars since it will have the same effect. Instead, use PVC containers or vaults to store your silver.
Silver purchasing is a lucrative investment. However, you must secure the precious metal from physical deterioration or theft.
Installing a silver safe is the best but most expensive method. You can use PVC containers as a cheaper alternative. Make sure that your silver storage unit is airtight to preserve the quality.
Buying silver will help you hedge against the current inflation. If you are silver ready, contact us to start your investment journey.