Gold and Silver Storage Advice from Scott Carter (2017)

Gold and Silver Storage Advice from Scott Carter (2017)

Where do people keep their gold after they
buy it? Do they put it in their closet? Underneath their bed? Mattress? What do they do with it? Well, that’s one way, I mean that’s certainly
– Maybe a hole in in the backyard, huh? Exactly! There are three primary ways that individuals
buy. If you think about, and I’m talking a lot
about gold, but you know, in this example I’ll use gold and silver – gold… I could put a million dollars of gold in a
shoebox. So many individuals will take physical possession
of the gold. And they’ll either put it in a safe they
have at home, certainly don’t tell anybody, or they’ll put it in their safety deposit
box at the bank. And then the third option is that I can arrange
for storage at an insured, a 100% insured facility, like Brinks or DDSE. Now, gold is pretty easy because it takes
up a small amount of space. If I bought a million dollars worth of silver,
you couldn’t fit it in this room that we’re interviewing in. So almost exclusively when there’s a large
amount of silver purchased, they ask me to store it and I just put it in Brinks and I
100% insure it. But if you’re buying anywhere from $5,000
to even $50,000 dollars of gold and silver, many individuals will take physical possession
and they store it in their home in a safe or in their safety deposit box because the motivation
for investors to have physical gold and silver is to have no counterparty risk, meaning
my asset isn’t in a bank’s or company’s liability. I like the peace of mind knowing I have that
physical asset right here in my possession and I know where it is.

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