How to Handle and Preserve your Precious Metals
Precious metals can be found in various types, such as in coins or bars, and are also available in different levels of purity. This prompts different approaches to their care and protection, especially if you are investing in them and want to retain their value as much as possible.
Here are some tips to maintain your precious metals and their value:
1. Wear clean gloves when handling
Sometimes, handling precious metals like gold coins can leave finger marks. Our hands can also be sweaty and oily at times, especially in hot weather or from hand creams.
Greasy hands can leave marks on surfaces and this can be damaging to some precious metals. Hence, it is recommended that you wear a pair of clean cotton gloves when handling your precious metals.
2. Handle coins and bars by their edges
It is recommended that you handle precious metals in coins or bars by their edges to minimise the impact on them. Hold them gently and be careful not to apply too much pressure to avoid causing dents.
You should also avoid touching them on their main surfaces as this could smudge the designs on them, thereby causing a loss in value.
3. Do not use your breath for cleaning
Some people will attempt to use their breath when cleaning their precious metals, but this is highly discouraged as moisture or saliva from one’s breath can cause spots to form on the surface.
4. Place them on a soft, clean cloth when handling
Some precious metals may be softer than others, such as gold. Hence, it is advisable to lay a piece of soft, clean cloth on the table as a form of cushion in case the precious metal is dropped when handling. A gold coin that has dents may lose its physical appearance, thereby lowering its value.
5. Store different precious metals separately
Avoid storing different precious metals together without protective packaging as the harder metal can scratch or even chip the softer metal.
In addition, precious metals in pristine condition should not be stored together with tarnished ones to prevent contamination. Likewise, you should also not be handling tarnished precious metals together with pristine ones.
6. Store them appropriately
Gold and silver coins or bars can be stored in protective capsules, and you should refrain from removing them. This prevents unnecessary damage while you are handling them or future damage from exposure to the environment.
Precious metals are valued possessions that should be kept away from reach either in a safe at home, or a safe deposit box in a vault facility. This prevents unnecessary access or handling.
Also, putting your precious metals in a safe deposit box deters theft as most safes are made from hardened material that cannot be easily broken into. If you are opting for a home safe, it is also recommended for the safe to be fastened to a wall as further reinforcement.
Do you have any precious metals that you would like to store in a safe environment? Find out more about Ultra Vault’s Gold and Silver Storage services in the following locations: