What Do I Do If I Inherit Precious Metals?
If you have come into an inheritance of physical Gold, Silver bars, or other Precious Metals here are some helpful tips to address your newfound wealth.
Did you know that people who inherit money generally don’t have it for very long? Financial experts have found that approximately 70% of inheritors buy a new car within 19 days. Unless you have an absolutely urgent need, try to sit on your inherited wealth until you have consulted the proper advisers and thought through your options.
DETERMINE YOUR HOLDINGS
What did you inherit? Gold bullion, numismatic coins or collectibles? Do you know where these items were purchased, or when? Have they been authenticated? Understanding what you have and what its value may be is your first step to responsibility of inherited wealth.
MAKE A PLAN FOR EITHER STORAGE OR SALE
If you decide to keep your Precious Metals, you must think about where and how you will store them. Is it a tiny amount you can keep in your home safe, or is it a considerable lot that should be transferred to a secure facility? Do you have the right insurance to keep Precious Metals at home? Do you fear becoming a target for theft? Think these things through as you plan.
APMEX provides resources for our customers to both buy and sell Precious Metals. We make it easy to sell your Precious Metals, from locking in your price to getting paid. We are passionate about empowering our customers by providing them with the resources and knowledge to make the best investment decisions for their needs.
APMEX recommends discussing the pros and cons of investing with a financial advisor or professional.