Bullion Gold Storage

Gold is something that everyone should own. A precious material that retains value no matter what happens to the government is a great way to diversify your investments and protect your wealth in the event of a cyber-attack. Gold also has a negative correlation with all other investments, meaning that when the price of the dollar drops, gold goes up. Owning gold does not come without its risks, however, which is why it is vital to know how to safely and securely store your gold so that you can protect your investment for the future.

The first rule that comes with storing gold is to tell as few people as possible about it. The less people that know you own gold, the less likely you are to be a target for theft. What you should do is tell one person who you trust where your gold is, in the unlikely event of your demise. Beyond that one person, you should keep your lips sealed. As soon as somebody lets the cat out of the bag, there’s no telling who is going to hear that you possess gold.

Then comes the matter of where to store your gold. There are many different options available and all come with their pros and cons. If you are storing a large amount of gold, you should try your best to keep it in as many different places as possible. Diversifying your storage locations protects your investments and allows you to reap the benefits associated with different sites, while minimizing the downsides. If the bank is robbed, you still have your safe at home. What kind of options are available to store gold?

One of the first options many people turn to are safe-deposit boxes at banks. For a very small fee, you can claim a box to store your valuables in a secure location. Banks are not infallible, however, and there have been many instances where safe-deposit boxes have been robbed or even drilled by the bank for no apparent reason. Banks are also difficult to access due to their restrictive hours of operation. If the gold market fluctuates dramatically on a Friday night, you are out of luck.

The main alternative to storing with a bank is to keep your gold at home. The first line of defense is a safe, but that can only go so far as a crowbar and enough time can break into almost any safe. You don’t want the safe to be of a size that can easily be carried out either. Aim for 500 pounds when deciding upon a safe and remember that your gold can add to the weight as well. Finally, the best defense is that of secrecy. Hiding your gold, whether it’s underneath the floorboards or in the backyard is the best way to protect your assets when storing at home. Burying your gold makes it very difficult to access, so only do this if you intend to not touch your gold for a very long time.

If you intend on liquidating your gold in a timely manner, neither of the above options are enticing. This is where private vaults come into play. Private vaults allow access to your safe 24/7 and they allow you to insure the contents of your vault, a service that a bank cannot provide. Private vaults also keep the contents of your box a secret, which is one of the best ways to protect your bullion. With state of the art security, and twenty four hour surveillance, there are few places to store your gold as this.

Iris Scanning Technology

One of the marks of a professional security system is biometric identification. In this day and age of hackers and cyber infiltrators, having a system that can only be accessed using your own unique genetic code is important to have. In the past, this has been through the use of fingerprints. Fingerprints are one of the most accessible biometric identifiers and have been used to good success for the past 100 years, however, they are not infallible. Fingerprint scanners must be impeccably clean and the fingerprint itself is prone to wear and tear.

Fingerprint scanners are one of the most common systems in place for security systems, and as a result of this, fooling this kind of scanner has never been easier. Tsutomu Matsumoto, of Japan’s Yokohama National University, created a mold of a human finger. This mold became known as a “gummy” finger because it was made of the same material as Gummi Bears. He then demonstrated how to obtain a residual fingerprint sample; enhance the image using a desktop program; and print, develop and mold the image into an artificial fingerprint clone. The inexpensive and relatively easy to make gummy finger fooled 11 fingerprint analysis systems.

Fingerprint scanners are fairly reliable and have a 99.6% success rate. But for Safe Haven Private Vaults, we wanted to go above and beyond. The next step above fingerprint scanners is iris recognition. Iris scanners were first invented in the 1950’s and check for over 240 different parameters to determine identity, 5 times more than what fingerprint scanners can check for. The chances for a false positive are one in 1 million, 10 times more accurate than fingerprint scanning.

How does iris recognition work? Iris patterns are incredibly unique, more than any other organ of the human body. Identical twins don’t even share the same pattern. When you sign up with Safe Haven we perform a High Definition scan of your eyes, a process that takes less than 5 seconds, and then put you into our database. By using infrared light, we can then identify the structure of your iris in order to determine your unique pattern and give you access to your vault. Our state of the art equipment will also ensure that the only person who can access the vault is you. The scanners we utilize take an extra step to determine who you are: by tracking the motion in your eyes, we can prevent someone with a picture from accessing the vault.

Iris recognition isn’t the only security that Safe Haven provides. With a private location, personal pins, armed security, ballistic paneling, bulletproof glass, and disaster proof boxes, Safe Haven is the most secure location to store your precious valuables. With 24/7 access, anonymous sign on, and fully insured vaults Safe Haven is the right place for you. Call (801) 569-3000 and schedule a tour today.

References

https://careertrend.com/info-8665169-negative-effects-fingerprint-analysis.html

https://www.explainthatstuff.com/how-iris-scans-work.html

https://www.bayometric.com/iris-recognition-scanners-vs-fingerprint-scanners/

Why you might want to reconsider Banks…

Banks are great, don’t get me wrong. Many believe they can be the safest place for their most valued possessions, but how can you really be sure?

It was reported in 2017 that three different Bank of America customers say they were blindsided when the bank recently drilled and emptied their safe deposit boxes without their permission or the required notice. They say the bank then lost or damaged tens of thousands of dollars worth of property that was removed from those boxes.

There’s a good group of people that dislike banks, with good reason. The issue of how to keep value without any risk of loss is a tough one to answer. Here is a few reasons why more and more American’s are losing faith in banks every day, and why you should consider doing the same.

Banks Make You Pay To Use Your Own Money

Ever paid a fee to make a withdrawal from an ATM? Isn’t it frustrating, having to pay to get access to your own money. But that’s what banks do. They do it at ATMs and they do it when they lend you money. It’s not their money they’re charging you interest on; it’s your money! A banks ultimate goal is to generate profits. The contrast is that you also want to keep as much of your personal funds as humanly possible. This brings up a conflict of interest in many cases that frequently results in banks making not completely legal or ethical decisions with their company and with your money. Whether it’s with the massive overdraft fees, late fees, maintenance fees, minimum balance fees, ATM fees, made up fees. Basically, they charge you a fee for existing.

Banks do not insure your valuables

Bank vaults are not guaranteed protection. If your area is known for flooding or fire hazards you may want to think twice before using that banks vault to store valuables. Also although it’s rare, the vault can be burglarized putting your box in jeopardy. And don’t think the bank cares enough to reimburse you for your valuables, because they don’t, and they won’t.

The bank can restrict or suspend access to your box for any reason.

Banks are urged by federal law enforcement agencies and regulators to close questionable accounts, even if a customer isn’t doing anything remotely illegal. In the United States, the U.S. Department of Homeland Security could get a warrant to access your safe deposit box if the bank tips them off due to what they might perceive as “suspicious activity”, which could literally be anything! The IRS is also able to freeze assets merely based on suspicion of probabilities.

Banks aren’t accessible at anytime

If you keep a safety deposit box at a bank with important documents inside, you have very limited access to it. Most banks are closed evenings, weekends, and holidays. You also have to have an employee present to access your belongings.

 

If  you are looking to save yourself the time, money, and energy you will waste having to go through a bank for YOUR most precious valuables, Safe Haven Vaults has you covered. You will have complete freedom in storing whatever you please, that will be protected guaranteed. Don’t allow yourself to be taken advantage of by the government.

 

Why some people don’t store at a Bank – Stories.

The word “Safe” is in the name of safe deposit boxes, but as it turns out, these boxes provided by your bank provide much less security and protection one would expect. In the past 3 years up to $1.3 billion worth of valuables have been destroyed or stolen because of theft, flood, fire, and tornado’s. Safe deposit boxes are not covered under standard insurance policies, which means that the majority of owners lost the entire value of their boxes content with no reimbursement available. Safe deposit boxes are also at danger from the banks themselves.

 

Susan Nomi, a retired Bank of America employee for 40 years, reported that her box had gone missing. “I was in shock; I was just like what happened to my box,” said Nomi, quoted by CBS Sacramento. This safe deposit box was in her possession for 16 years and held her family’s jewelry and her dad’s coin collection. When she asked Bank of America about what happened to her safe deposit box, they couldn’t explain what had happened. “They don’t have an answer. They don’t have an answer. They say thanks for letting us know,” Nomi said.

 

Susan Nomi is not the only one. Wendy Woo received a package from Bank of America which held all of the contents of her safe deposit box in it. The jewelry inside was tangled together, fragile pieces had broken off, and a ring had gone missing. The bank had drilled into her box, without her permission, because they were moving to another location. They claimed that they had sent letters informing Mrs. Woo that they would be drilling into her box, but the only thing she received from Bank of America was her damaged valuables.

 

Incompetence isn’t the only thing putting your belongings at risk either. In May of 2016, a group of experienced burglars cut a hole into the ceiling of the Maspeth Federal Savings banks in New York City. They cut the surveillance video, descended into the vault, and proceeded to empty all of the safe deposit boxes. The New York Police Department’s chief of detectives told reporters after the Maspeth burglary that the thieves were “pros” and said the job was part of a “10-case pattern.” Approximately $5 million were stolen in both April and May. In all of these stories, the owners of these boxes had done nothing wrong, and yet thousands upon millions of dollars worth of goods were lost, damaged, or stolen.

 

Storing your valuables in a safe deposit box is a risky endeavor. Fortunately, there are great alternatives out there. Safe Haven Private Vaults, located in South Jordan Utah is “the leading private vault facility in the country”. With state of the art technology such as iris scanning technology, motion sensors, ballistic paneling, and round the clock security personnel. We also provide features that banks cannot provide such as 24/7 access to your vault, anonymous registration, and the ability to fully insure the contents of your vault. To see how Safe Haven Private Vaults can give you the protection and privacy that you need, visit www.safehavenvaults.com or call (801)-569-3000 to schedule a tour today.

 

https://sacramento.cbslocal.com/2018/07/26/safe-boxes-stolen-drilled/

 

https://www.newsweek.com/robbing-banks-blowtorches-safe-deposit-boxes-are-not-so-safe-484224

 

https://www.valuepenguin.com/2015/04/safe-deposit-box-insurance-your-valuables-arent-actually-insured-or-safe