A Safe Investment!
Euro In Crisis – Dollar finding it hard – where do you Invest?
With all this crisis all round the world with the credit crunch, the euro zones struggling to balance their books people are thinking is money the sure investment these days? The UK Bank is pushing quantitive easing (printing money) to try to get more slush funds in the UK economy and quite possibly the banks are saying, ‘Thanks Very Much, but were not lending it to anyone’!
I read reports that more people are investing in gold, silver and other precious metals. The idea is to have something that they hope will continue to increase in value relative to the strength and inflation expected in the economy.
Not being an expert in finance matters myself, but we have seen a big increase in the purcha
sing of premium grade safes for storing gold bar and coins.
Times were, banks would hold these types of investments for you but are you that sure these days that is a wise choice? In the UK you hear horror stories implying that the household named banks are on shaky ground.
If you have money in your savings and a bank goes bust they are limited to how much you would be insured for, if you have say, 100K of hard earned savings, if the bank goes bust you may loose at least 50% of that over night.
OK, they will all say its not safe to stick it in a bag under the bed, but having a decent safe, properly installed then you have defiantly a considered alternative to protecting your investments and indeed other very important goods and chattels that could be worth a lot off money.
Safes are measured in cash ratings the bigger the value that you want to keep safe the bigger the cash rating needs to be. Say you have a £10,000.00 cash rated safe, properly fitted etc. then your insurance should cover its cash contents up to £10,000.00. It is, however, common to value other contents 10 times that of a safes cash rating, so again take the £10K cash rated safe you can keep up to £100,000.00 in goods, like gold, jewelry etc.
You need to consider what size best suites you, also what type of lock. Size is a little bit of a no brainer, but there are a few options regards to locking the safe. The most common is a key, second by the wheel combination lock, but getting to be the norm these days is an electronic combination lock.
These type of electronic combination locks are ideal and can even store different codes for different users so you will be able to recall an audit trail if you need to see who has had access.
Some more specialized safes can offer anti codes as well, the theory of an anti code is that should you ever be held up and forced to open your safe you can use a different code. yes the safe will open, but at the same time a call could be trunking its way to your local police authority, in the UK it is called a Panic Alarm, perhaps in the USA its called a hold up alarm.
Should you need any further advice on keeping your hard earned investments safe pop on line to www.LocksOnline.co.uk or check out our safes section.
Many Thanks for reading my blog
Darrel Walters
Head of the tech team
TRUST Security – Trust LocksOnline