I love owning physical gold bullion:
- With gold bullion, I have an asset that'll never lose its value or its utility,
- no matter what happens in politics or the economy.
- I can't always buy the gold I want at the shop around the corner,
- so I've spent some time researching the ins and outs of transporting and storing my gold
1. A bank safety deposit box:
- It is the easiest. Boxes cost as little as $50 a year.
- If you're already a customer of the bank, they may even offer it to you for free.
- But I have a problem with banks. What if they go bankrupt?
- You don't want to get stuck banging on a locked door, when you need your coins in a hurry.
- the Feds can force banks to divulge information about your security box.
- They can force the bank to tell them whether or not you own a box.
- Then the Feds can issue a subpoena and force the bank to open it.
2. Keeping gold bullion in an IRA
- To qualify for inclusion in an IRA, the gold must by pure, 24-karat gold
- The Feds make one exception to this rule: They allow you to put the U.S. Eagle, a 22-karat gold coin, in your IRA.
- Here's a good FAQ about including gold bullion in an IRA: http://www.blanchardonline.com/gold_as_investment/ira_questions.php
- 2 big problems with buying gold in your IRA:
--- A. you can't put coins you already own into an IRA. You have to make a fresh purchase.
--- B. you don't have access to the coins. A qualified custodian must keep them on your behalf.
3. Sending your gold overseas to a private security vault
- out of reach of the U.S. government.
- These private vaults don't qualify as financial institutions,
- so you don't have to report them as foreign accounts, when filing your taxes
- These are the 2 safest, most confidential vault businesses in the world: Safes Fidelity in Geneva and Das Safe in Vienna
- You can send them your gold through the mail
- Just make sure you use registered insured mail. Or you can take it there yourself.
4. Hiding gold on your property - is my favorite solution
- instant 24-hour access to your gold, and
- you don't pay any storage charges.
- The key is, it has to be safe.
- One option is to install a safe or a gun locker in a discreet part of your house
- Make sure you secure the safe to the floor so a thief can't carry it out of your house
- Or you can bury the gold in your backyard or a friend's backyard
- You can buy waterproof coin tubes online or go to Home Depot and buy a PVC tube and caps to seal the ends.
- Just make sure you tell 1 person where you hid it...
- in case something happens to you. And don't tell anyone else
If you're moving gold out of the country
- keep it in your pocket, not your hand luggage.
- Only ferrous metal (which contains iron) sets off the detectors in airports.
- So pure gold coins in your pocket will not set off airport metal detectors.
- If the gold is in your hand luggage, it will show up in the x-ray machine.