 Money Metals Exchange provides the latest precious metals news for savvy, self-reliant investors who want to invest in gold, silver & other precious metals. <p>“If you don’t hold it, you don’t own it” is one of the most common phrases in the precious metals investing sphere. </p>
<p>It is an axiom that reflects the desire to eliminate counterparty risk, and consciously deciding to hold all of one’s own precious metals in direct proximity.</p>
<p>The origins of the phrase are unknown, but its philosophical origins could be traced to the Austrian School of Economics and such key economists as Ludwig von Mises and Friedrich Hayek. </p>
<p>These thought leaders espoused that individuals should have control over their own property, that there should be healthy skepticism of centralized financial systems, and that there are very real dangers of credit expansion and custodial risks. </p>
<p>This certainly applies to investments, including gold or silver. </p>
<p>As a general rule of thumb, people should have direct ownership of their precious metals items. This ensures that they have what they have, it can be sold at any time without outside delays, and it is not being jeopardized by anyone or anything. </p>
<p>Citizens are rightly cautious of outside institutions, whether private or public, when holding their metals. There have been cases over the years of bad actors in the precious metals industry stealing gold and silver, or government agencies confiscating it out of safe deposit boxes relating to investigations of others. </p>
<p>Paper investing, such as stocks or ETFs, is quite similar to an outside institution holding a person’s gold or silver when they invest. Even where the gold or silver ETFs are claimed to be backed by sufficient metal, there could be a daisy chain of custodians and subcustodians involved. And proper performance by all involved is a must.</p>
<p>ETF shareholders have title to a security instrument, not the underlying physical metals. As more and more counterparties get involved, the risks multiply.</p>
<p>Meanwhile, keeping all of your precious metal investments at home is not always a viable option for everyone. Some people move a lot, easily lose things, or are forgetful. A depository account holder can designate a beneficiary to ensure a smooth transition to heirs.</p>
<p>Burglaries, home invasions, fires, storms, and death can lead to a loss. Insurance on precious metals held at home is expensive, assuming you can get it at all. That's why some folks look for a safe alternative to holding metals at home.</p>
<p>So, when should someone consider putting their precious metals in a depository? The following are five examples of situations where it makes sense…</p>
<h2>Proper Insurance Available Via Depositories</h2>
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<p>Insurance is usually not enough to protect your precious metals at home. Storing your precious metals in a trusted depository helps properly insure your metals at a lower relative cost.</p>
<p>Most Americans have homeowners or renters insurance, and most insurance companies offer some coverage for precious metals like gold and silver. However, the amount that is covered might surprise you. </p>
<p>Most insurance companies are only going to offer less than a thousand dollars in coverage for gold and silver, unless you tell them how much gold and silver you have. Even after telling them how much value you store at home, more coverage would likely require paying annually at least one percent of the metals’ average market value.</p>
<p>If your insurance company will actually allow you to insure as much as $50,000 worth of gold and silver, you’d be looking at $500 per year in additional premiums. </p>
<p>By contrast, by storing your precious metals in a depository, such as the Money Metals Depository, your precious metals are fully insured and protected 24/7 at no more than half that cost.</p>
<h2>Vault Storage Can Be a Superior, Convenient Savings Method</h2>
<p>Having a savings account is a great way to plan for the future, and a precious metals depository account is a prime example of such a savings account. </p>
<p>Sometimes the best way to save money is by removing it from your immediate grasp. For this reason, people tend to store their extra cash in savings accounts to create a safe and structured way of storing wealth for long-term planning. </p>
<p>By storing your metals in a depository, such as the Money Metals Depository, you safely and securely store your metals while keeping them out of sight and out of mind. Then, when you wish to sell your metals or to get a loan against your metals, you can normally receive payment within a couple of days. You can also have your gold and silver mailed directly to your residence. </p>
<p>In essence, a person exchanges their fiat currency for sound money, gold, and silver, and then that sound money is stored in the depository as a savings account that hedges against inflation. This is a sound and disciplined investment strategy. </p>
<p>Historically speaking, gold and silver have outperformed dollar holdings since USD, or Federal Reserve Notes, are being deliberately debased. So, savings in precious metals is likely a superior way of saving when compared to cash holding in a traditional bank savings account.</p>
<h2>Security at Home Can Be Iffy</h2>
<p>Most people do not have the security necessary for storing at home. In contrast, storing precious metals in a commercial depository does provide the necessary security for protecting them. </p>
<p>A person’s job or activities mean one’s home could be vacant for hours or days at a time. Absence from your home leaves you at a higher risk of being robbed or even lost in a fire. </p>
<p>Some people are also risk-prone because they like to show off their precious metals stack to their neighbors, social media, etc, leaving them as a prime target for theft or burglary. </p>
<p>Money Metals Depository has 24/7 security, fully armed and trained staff, temperature controls, fire protection, and enough galvanized steel and reinforced concrete to make it the largest privately owned depository in the United States. </p>
<p>So, in order to protect your metals from theft, burglary, or fire, storing them in a depository may be a better option than holding your gold and silver at home. </p>
<h2>Safe Deposit Boxes Have Drawbacks</h2>
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<p>There are very real limits to safe deposit boxes (aka, safety deposit boxes) when compared to storing precious metals in a depository account. </p>
<p>Few realize that storing your gold or silver in a safe deposit box does not provide any additional insurance for your precious metals or anything stored in that account. The Federal Deposit Insurance Corporation (FDIC) does not cover gold, silver, or anything else stored in a safe deposit box. </p>
<p>Furthermore, contents of a safe deposit box can be subject to IRS sanctions, federal agency seizures, court orders, FinCEN rules, and “national security” compliance via the PATRIOT ACT and the USA FREEDOM ACT. </p>
<p>The Money Metals Depository provides fully insured, segregated, and audited storage with stronger ownership protections and allows owners to quickly access and control their metals. Money Metals even offers a video of a person’s depository holdings once per year, providing additional peace of mind when storing at Money Metals Depository. </p>
<h2>Storage Sidesteps All Shipping Problems</h2>
<p>When a person buys precious metals, such as gold or silver, online, those metals are then mailed to them. Mailing gold or silver creates more risks and costs, and is not always the best idea for everyone.</p>
<p>Buying and automatically storing in a depository account removes such risks, as well as the potential costs associated with not receiving the metal that you paid for. </p>
<p>Some areas have higher risks of lost or stolen packages, even when you’re using registered mail from the United States Postal Service (USPS).</p>
<p>FedEx and UPS do not even insure gold or silver shipments at all. In fact, some criminals intentionally look for packages coming from precious metal related addresses, such as online precious metals dealers or wholesalers, or package markings indicating such. </p>
<p>Sometimes, it’s the logistics company employees themselves who steal packages containing precious metals. </p>
<p>On the other hand, a person who buys gold or silver on <a href="http://moneymetals.com">MoneyMetals.com</a> and has the metal automatically deposited into their Money Metals Depository account, there is no shipping involved. So there can be no shipping costs or losses.</p>
<p>In conclusion, while Money Metals recognizes the validity of the axiom “If you don’t hold it, you don’t own it,” we also recognize the importance of properly storing precious metals. And not everyone has the same needs. </p>
<p>For each of the aforementioned types of gold and silver buyers, the best solution could be storing their precious metals at Money Metals Depository. </p> 
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