BullionStar: Storage of Coins
Below is a piece of editorial from BullionStar, a bullion dealer based in Singapore which exempted investment grade precious metals from the goods and services tax (GST). Just like BullionStar, one of the the goals of SG Wealth Builder is to educate Singaporeans on the merits of owning gold and silver bullion as a means of wealth preservation.
A common question that our customers ask us is, “How do I keep my precious metals such that its’ condition will be immaculate forever?” The short answer is that for silver, it is not possible since silver tarnishing is a natural process, as discussed in another editorial by my colleague Gustav. However, there are ways in which we can delay the process for as long as possible so that your precious metals are still beautiful to look at.
1.Keeping your precious metals in a cool and dry place
For collectors who are beginning their collection, it would be good to invest in a good storage solution in order to protect the coins. One could consider large air-tite boxes or even camera cabinets that allows for the adjustment of humidity. Do take care to keep the boxes in a place where it would not be exposed to high temperatures or light. (Not only is this safe for your coins but you keep your precious metals away from prying eyes as well.) Silica gels can also be placed together with the coins to ensure a dry environment.
2.Case them in protective capsules
Bullionstar offers the Intercept Quadrum Coin capsules, an innovative product that promises to protect your coin for up to 15 years. The special foam developed interacts with the air and neutralizes any harmful chemicals that may cause the coins to tarnish. The following sizes are available : 20mm, 30mm, 33mm, 37mm, 38mm, 39mm, 41mm
3. Minimal exposure to air
Since tarnishing is caused due to the presence of sulphur in the air, it would be good to not expose the coins to the environment as much as possible. Keeping them in protective capsules still allows you to admire the coins but will help to delay the tarnishing process.