Silver Dollar Values Prices Climbing, 4 Benefits To Storing Your Gold Abroad - Gold Price

It would be wiser & safer for you and your family. After looking about for more sources about the matter, we've discovered a solution for all those who really feel uncomfortable burying their gold in the front yard or utilizing it as a door stopper.
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Dec. 4, 2012 - PRLog -- Earlier this week, we talked about how the next few years will probably be monumental for gold owners and how discovering ways to hide your gold would be wiser and safer for you and your family. After looking about for more sources about the matter, we've discovered a solution for all those who really feel uncomfortable burying their gold in the front yard or utilizing it as a doorstopper. How high will silver go? Learn more >>

Safe deposit boxes overseas, specifically Hong Kong. A bit of background: Hong Kong is one the least expensive places in the world to buy gold and right now the yellow metal couldn't be any hotter. Just last week was the Chung Yeung Festival in Hong Kong, which is the Chinese vacation strictly focused all around gold. People purchase as much gold as you possibly can, store a little of it, gift a lot of it, and resell even more. Why? Because of tradition and the reality that Chinese, comparable to India and also the Arab globe, have a love for gold. These cultures have a different relationship with the valuable metal than the west. They discover more worth in gold than paper currency, so most people own at least a bit even if in very small denominations.

So with an area of the world obsessed with gold comes better storage facilities for it. Bank safe deposit boxes are the common solution; when individuals believe ‘valuables storage,’ they think bank safe deposit boxes. Ironically, this is precisely how banking first began- bankers had been the safe keepers of people’s valuables. In exchange for securing people’s gold, clients would pay the bankers a fee. This really is how safe deposit boxes work today.

Banks in Hong Kong are definitely more dependable and stable than these in the pocket of the governments of the western hemisphere, but the best place to store your gold is in personal storage facilities. “They are typically unregulated and do not fall below a host of a numerous government inspection agencies.” We have extensively searched the Internet, and some reliable sources over in Hong Kong as well, for the best personal storage facilities in Hong Kong. Two businesses have come up multiple occasions with strong reviews and all of the qualities of a storage facility we want: personal, 24-hour security, reasonable prices, and most importantly, not in American banks. Rare Coins, Silver Coins, Gold Coins, Learn more >>

The first is the Store House ( that is a low-cost self-storage facility with mini-storage rentals. They have four places in Hong Kong and have very strong reviews from Chinese and foreign clients.

However the business we really feel that has the best for storing your gold is the Storage Limited ( within the Sheung Wan district.

Their smallest safe deposit box is big enough to store a couple of million dollars worth of gold coins for only around $80 a year and with 8,000 square feet of storage areas. But their downsides are this: they do not rent boxes anonymously but offer to rent through a corporation. And they are running out of space fast! The most well liked, little boxes are nonetheless accessible but say that the demand is extremely high. Boxes are in an extremely safe, bank-style vault with round-the-clock in-house safety; box contents are automatically insured to HKD 100,000 (about $13,000 USD).

So here would be the four reasons to actually store your precious metals overseas:

Getting gold stored in a more powerful economy with a gold-obsessed culture is not only safer but also more sensible. It will be easier - and you will have more opportunities-- to sell and exchange for some thing of worth in a place like Hong Kong or India. If you sold gold in the U.S. you'd get the pathetically weak dollar, especially in the near future. But in Hong Kong and India, you can trade for anything. There could be a lot of choices with goods, services, currencies, and so on.

Gold prices are increasing through the roof and will continue to keep on doing so. The higher the price, the most volatile and crazy people get over the valuable metal, consequently raising the danger of confiscation. Like we have talked about on a number of occasions, the rise in crime corresponds with the rise in gold prices. Individuals are being robbed, beaten, and killed for their gold. Guarding your gold is crucial, from the public, family, creditors, bureaucrats and purely greedy people. Storage facilities and banks in your home country are considered the same jurisdiction as you, so if you're put in court, asset seizure is a very high risk.

To a U.S. taxpayer, gold or any precious metal stored overseas in your personal vault is not a reportable asset, making it a legitimate means of storing wealth privately.

Personally transporting precious metals out of the nation is - and can continue to be- extremely difficult. So if there had been ever a time when you would leave your native country if (or shall we say when) the economy and government is getting worse, you'll want your assets somewhere safe. Consequently it's very wise to reposition your gold overseas beforehand in a nation where it will be worth more, not being dug up by your dog in the yard, or stolen from the bank which has been taken over from the government.

If you are a gold owner, or soon to become one, we cannot see how it might be any smarter, easier, or more effective than to store your gold in a safe, private, overseas safe deposit box. My suggestion would be to purchase gold and purchase silver and definitely store your precious metals overseas for safety and reliable access in your time of need. How high will silver go? Learn more >>
Source:James P. Coronet
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Tags:Silver Dollar Values, Silver Prices, Gold Prices, Silver Coins, Gold Coins
Industry:Business, Finance
Location:Seattle - Washington - United States
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