Best Precious Metal Investments for Apartment Dwellers
We recently had the opportunity to visit a metal scrapyard – one of those big outdoor places, five acres or more, that are littered with stuff like piles of aluminum windows, with machinery and even with big car and truck engines. It was quite an impressive site. And it made us realize that people can get scared when they start thinking about investing in metals of any kind.
They worry about where they can store hundreds of pounds of metals, if not tons. Where can they store junked cars, piles of thermocouple wire, a ton of gold-bearing sand, and the odd truck engine or two?
Well the good news is, you don’t need an acre of free space to store gold scrap, silver scrap and platinum scrap. While you might need to rent a safety deposit box or storage room, the fact is that you can store scrap in a small home or even an apartment, provided you concentrate on smaller kinds of scrap that are high in value.
Precious Metal Scrap Investments You Can Easily Store at Home
Let’s take a look at some precious metal scrap investments that you can easily store in your home.
Small electronics that contain gold – Remotes, old computers, and other small electronic devices don’t take up much room. And if you decide to snip the gold pins off the edges of the printed circuit boards they contain and toss the rest of the devices, you can store your gold in a very small container. (Think a Tupperware where you could also store a sandwich.) There you have it – a compact investment you can keep just about anywhere.
Jewelry scrap – Silver and gold wire don’t take up much space at all. And neither do valuable smaller items like old jewelry items, gold-plated chain, old eyeglass frames and jewelry findings like clasps and pins.
Old silverware – You can stow a valuable chest of tableware under your bed or elsewhere at home. If you are investing in individual knives, forks, and spoons, they can also be stored in comparatively little space.
Bullion and coin investments – They don’t take up much space and can be stored in a home safe. But the issue of safes makes us want to conclude today’s post with the following consideration . . .
What about Protecting Your Precious Metals Scrap from Theft?
That’s a very good question. After all smaller, easy-to-store items are also easy to steal. Before you start keeping valuable investments in your home, consider the following ways to protect them from loss.
Keep your items in a safe that is securely bolted to the floor or to a wall.
Install a good alarm system in your home that protects not only your investments but all your possessions.
Use a bank safety deposit box to store very valuable items.
Keep an up-to-date inventory of all your precious metals, stored in your smartphone or computer. (Avoid the temptation to keep an inventory on paper that you store in the same place as your valuables.)
Move valuables out of your home collection regularly. After all, the point of investing in precious metals is to recycle them and recoup their monetary value. Instead of letting them sit at home, recycle them.
Want to Know More?
Give our precious metal consultants a call at 800-426-2344, tell us about your scrap or other precious metal investments, and let’s make a plan. If you’re fantasizing about making money by investing in precious metal scrap, we are here to make your dreams a reality.