Other risks of storing gold in a safe deposit box
A bank does not require to know what is in a client's safe deposit box, so they do not insure the entire contents to the fullest extent. Insurance terms can vary significantly from one bank to another, but as a general rule the contents of the safe deposit box are only partially insured, if at all. In this type of situation, most people think that only the bank loses out, since the owners of the safe deposit boxes are insured. We've all seen bank robbery movies where criminals tunnel into the vault to steal jewelry, gold and other valuables before vanishing into thin air. Gold and silver bullion storage insurance However, when it comes to storing large amounts of precious metals, a bank safe has several risks. They offer more security than home storage, they're cheap to rent, and you can store just about anything in them without having to declare the contents.
Safe deposit boxes at the bank are often considered the best way to store gold bullion bars or coins.
