When gold buyers talk about the importance of an investment that you can “hold in your hands,” they’re talking about the confidence that comes with owning your own wealth. It’s immediately accessible and there are no barriers between you and your property – no bank telling you can’t take out your money, no stockbroker telling you it takes time to sell. But storing material wealth is a big responsibility if you want to reduce the risks, whether you’re investing in silver and gold bullion coins or you’re a collector of numismatic coins sold by mints through online gold dealers or historically valuable collectibles. Besides theft, one of the major risks to precious metals is damaging them, and below are some steps you can take to mitigate the risk of damage.
1. Avoid Handling
Gold and silver may be wealth you can hold in your hands, but storage experts advise against handling gold coins too often. When you do, handle them by the edges, not the face. Your skin naturally produces an oil that not only tarnishes coins but also . This significantly hurts the value of numismatic coins – one tip for collectors who are keen to share their collections is to take photographs of each side.
2. How to Avoid Dents
Whenever you take out precious metal coins, lay a towel down on the table or desk to protect against dents if you happen to drop it. Gold is a malleable metal and it can easily be dented or damaged, especially at higher purities, so be especially careful with gold bullion.
3. Store Them Safely
Storing silver and gold coins safely means more than keeping them safe from tarnish and corrosion, it’s also about minimizing the risk of theft. When you order silver and gold coins from a dealer like Silver Gold Bull, they send the package without any indications that it’s a precious metal inside. However, you should still own a safe and, for investment-sized coin and bar collections, a top-of-the-line home security system.
4. Preventing Corrosion
Find somewhere cool and dry to keep your coins, whether they’re in a book and plastic sleeves or a safe. Heat can cause corrosion as well as damp conditions, but these aren’t the only ways your silver and gold coins can degrade while left alone in storage. PVC is a common material in storage containers but it chemically decomposes in heat and light. The process produces hydrochloric acid, which will damage your coins, both numismatic and bullion.
Whether you’re a collector or an investor, is a safe and profitable idea. If you’re only just beginning your coin collection and you’re looking for affordable silver coins, visit an online gold dealer with a wide variety of coins from mints across the globe. You can find gold and silver coins at a dealer like Silver Gold Bull from the Canadian Mint, American Mint, Perth Mint (in Australia), and the New Zealand Mint. You can also find collectibles like Scottsdale rounds, colorized silver coins, and coins like the Mexican Silver Libertad or Silver Philharmonics from Austria.Start your collection with one of the widest varieties of gold and silver coins in North America.