Buying gold and silver bullion coins is one of the most secure ways to invest your money. With gold currently trading at high rates, this is a sound move and can help you to enjoy higher returns in future. Many of you will probably have already bought gold coins or bars but buying it is only half the equation, ensuring safe storage is just as important. Storing your gold collection in your safe deposit box can add an extra layer of security of your precious metal but visiting the bank or financial institution to check on them regularly can be tiresome. On the other hand, if you keep your gold purchases at home, then you must think of ways to secure it from thieves and burglars.
With ever-growing crime rate, Malaysia is one of the worst countries across the globe for its many cases of purse snatching, pick pocketing, and residential burglaries. Read the sections below to know what you can do to keep your gold at home and still keep it safe from thieves:
1. Split up your assets
If you are storing a number of gold assets at home, it is often advisable to split them up and store them in different locations to mitigate the risk of theft. Never place them all in the same place as it increases the chances of losing them all, if a thief manages to find them. Always try to spread them around and keep them hidden in multiple locations. If you follow this approach, then you will hopefully only lose some (or none) of your coins during any unfortunate events.
2. Keep it Safe From Metal Detector
It is better to assume that thieves have metal detectors and they may use it to find your hidden gold coins and bars. To overcome this situation, you must hide your gold in a place that will set off a metal detector by itself, that way the thief might mistake the place to be setting off the detector and overlook your investments. It is a well-regarded fact that if you purchase a gold bar in Malaysia, it is available in its purest form and thus, may get detected by metal detector easily. You can hide your gold and precious metals in kitchen, cabinet storing metal silverware, and can also tape them against the top of the kitchen drawers.
3. Think Outside the Box
Some of the nests hiding places are the most unconventional, places where thieves would never think to look. Try to think outside the box and come up with places that no thief can ever think about. You can store the gold in the freezer and fireplace to keep it safe from burglars. Also, you can bury a gold coin or two under your favorite plant on your balcony. Gold is resistant to the elements and will not corrode for months, if the soil is wet. Think about locations that a thief would never think of entering or checking to keep your gold safe.
4. Keep the Location a Secret
Gold investments are an exciting topic to talk about but there are a lot of people who may be out to take advantage of the unwary. Never discuss your gold bullion coins with your strangers, friends, or neighbours. It is also recommended not to discuss your purchasing plans, if you have decided to buy a gold coin in Malaysia, with your friends and neighbours to be extra protected.
Follow a hybrid model, which recommends keeping a little gold at home and rest at bank, for saving your gold investments from robbers and thieves. You can use any of the mentioned options or even come up with your strategies to ensure that your gold is safe from thieves. Explore the web to know more about how to add extra protection to your gold, if stored at home.
Joshua Meng is a goldsmith and often gives advice on reliable places to buy a gold bar in Malaysia. He is a keen blogger and loves to post tips, suggestions, and guides that can help to buy a gold coin in Malaysia. Explore his blog to access some great tips on buying and selling precious metals.