A Collector’s Guide: Storing Silver and Platinum at Home

Storing silver and platinum at home comes with many considerations. However, after learning how to clean, store and insure your precious metals at home, you can preserve and enjoy your investment with ease.  

• Introduction to Cleaning Silver and Platinum
• How to Store Silver and Platinum at Home
• Insuring Your Silver and Platinum

Introduction to Cleaning Silver and Platinum

There are several methods for cleaning your silver and platinum. However, we strongly suggest that you do not use anything abrasive on your precious metals, as this will reduce the quality and expectancy of your asset. When cleaning, we recommend using a soft microfibre cloth; after dampening, gently wipe to help remove the dirt and grime that has collected over time – this method is popular for cleaning silver and platinum as the microfibre is soft, absorbent and lint-free. An alternative method for cleaning silver and platinum includes the use of distilled water; this is due to its mineral content being strong enough to clean, yet harmless enough to leave little to no extra surface marks on the precious metals. However, when looking to clean silver or platinum, it is imperative to be careful and mindful when doing so.  

When purchasing the silver and platinum in excellent condition, it is considered to be rare or valuable, meaning it’s best to avoid cleaning it, as this could reduce its value. If there’s an instance when cleaning is necessary, it is essential to use gentle methods and avoid using harsh chemicals or abrasive materials that could cause damage, as suggested above. 

How to Store Silver and Platinum at Home

Silver and platinum are significant assets when diversifying your precious metals portfolio. However, the choice of alloy is not the only thing to consider when purchasing; storage is imperative too, as this will help you retain quality, value and lustre. 

Storing silver and platinum is crucial when considering obtaining these precious metals. Silver storage is challenging and requires much more storage space than its gold counterpart. If you choose to store your silver and platinum investments at home, the experts here at The Royal Mint suggest that an airtight and waterproof storage box will facilitate the precious metals’ needs. If you have bought or acquired many coins, we advise separating them into small piles, wrapping it in plastic bags, acid-free tissue paper, or placing it inside cotton or 
tear-proof bags to avoid scratching.  
 

Insuring Your Silver and Platinum 

Protecting your silver and platinum investments doesn’t have to stop with storing and cleaning; it also includes insuring. You might think your typical home and contents cover includes the cost of replacing your investments, but this typically isn’t the case. Most homeowners’ insurance policies cover low-cost, easily replaceable items, meaning the need for a separate insurance cover is required and essential when considering storing your precious metals at home. 

It is wise to shop around and see what the best insurance policy is for you, your home and precious metals, as some providers may pay out less than what it is worth should anything happen to your home. Whatever the precious metals, storing them at home can be a big worry unless stored and insured correctly.  

Storing your investment at home can carry a massive burden; however, this can be managed with The Royal Mint’s on-site storage facility. The Vault® provides you with a secure, state-of-the-art storage solution at one of the most secure sites within the United Kingdom, knowing that your investment is entirely safe, offering a double lock, with insurance cover for up to £50,000. Visit our dedicated secure storage page to find out more.

Protect Your Silver and Platinum Investment

Store and protect your silver and platinum investments with absolute peace of mind with the help and advice of our precious metals experts at The Royal Mint. 

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