One of the most common problems that many gold bullion IRA buyers run into: many gold sellers offering nothing more than certificates of ownership, while insisting on storing the gold themselves. While this does remove the hassle of having to store gold yourself, it can also be a bit unsettling. After all, many investors choose gold bullion IRA specifically because they know that, in the event of a major financial meltdown, having physical access to precious metals will help them maintain a certain level of financial power. Apart from these potential “doomsday” scenarios, there are many other pragmatic reasons to want control over your own investment.
If you do choose to purchase gold bullion IRA from a company that offers direct delivery, you will need to put some serious thought into how you will store your gold. Here are the two most common gold storage options, along with their respective pros and cons.
• At home. This option offers instant access to your gold and complete privacy of ownership. The downside is that home break ins occur more frequently than bank and depository break ins. If you feel confident in your ability to keep your gold hidden, value having instant access to your gold, or are worried about government confiscation of your valuables, then this may be the best option for you.
• At the bank. Banks offer safe storage — but it’s important to consider that they don’t usually insure the contents of safety deposit boxes. Moreover, items stored at banks are susceptible to government seizures and bank holidays.
• In a private depository. A private depository offers safer, climate-controlled storage and insurance policies. The downside, however, is that you do not have instant access to your gold in the case of an emergency — and you will be paying a storage fee to boot.
Looking for direct gold delivery? Red Rock Secured has you covered. Visit us online now to shop a wide array of gold bullion IRA and silver options.