I implore you, please to do lots of research before buying a gold bullion security safe. Sadly I have seen first hand the tragedy that can play out when people buy a cheap safe for their precious metals (PM). Investing in Gold or silver is becoming ever more popular with the global uncertainty that surrounds us all. That said what’s the point of working to get an investment edge and then having your PM stolen because of a inferior safe.
Most people don’t insure their precious metals because the cost is prohibitive. Criminals LOVE gold, and silver because its SO easy to sell. It is after all one of the oldest trading commodities in the world. And its easy to find someone willing to buy it even if its stolen, no questions asked. We have many safes suitable for protecting your PM.
The number one rule for buying a gold bullion security safe is buy one that is up to the task. Ie buy one that will protect your PM from even a concerted attack. Many people buy a small or substandard safe thinking they can hide it from criminals. Alas criminals seem to have a knack for finding safes even when well hidden. My suggestion is to buy the right safe, one that will defend against a serious attack if the criminals find it.
In the safe industry we have a metric that determines the strength of a safe and its called either a cash or Insurance rating. Safes are made and graded as to what contents they will protect. If you have $100,000 in Gold you should buy a safe with a cash rating equal to or above this number. We sell safes with cash ratings from $10,000 up to $300,000. Its crazy to buy a $20,000 cash rated safe & then fill it with $100,000 for gold. Sure the gold will fit inside in IF and that’s the risk, IF the safe is attacked it WILL crack quickly. Conversely a $100,000 rated safe will take MUCH MUCH longer to be cracked.
I have written another blog that explains cash ratings for safes, click here to read this short blog. Now we have been selling safes since 1987 and we know everything there is to know about gold bullion security safes. And it’s a BIG and, we can be trusted, just read some of our ( more than 400 ) five star Google reviews. Also don’t under any circumstances buy a safe off Gumtree or Ebay or an Online seller without a proven history and physical shop. We have to jump through lots of hoops with our various Security Licenses. In theory any criminal can pose as a safe seller.
Lastly BUNNINGS and Office Works safes are NOT in any way suitable for protecting Gold, silver or jewellery from criminals. These safes are cheap and cheap means weak hinges and locks. They wont last long even from the most amateur crims. Its really simple, buy a safe that is hard from criminals to crack open. As a rough rule of thumb the heavier a safe is the more material the safe has inside the walls and door to stop common tools used by criminals. I have over 40 years experience selling safes and I offer my advice freely and without obligation.