What Do I Do If I Inherit Precious Metals?
We understand that losing a loved one bears attendant business concerns, some pressing and some that can be dealt with in time. If you have come into an inheritance of physical Gold, Silver bars, or other Precious Metals please allow us to assist you in taking care of 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. If you are new to Precious Metals, go to a local coin shop—look for one with good online reviews and good word-of-mouth—and ask for help understanding what you have come into. They may authenticate your pieces on the spot for free or they may have you make an appointment for a service, for which you likely will be charged a fee.
Make a Plan for Either Storage or Sale
Is there any way you can hold onto your newfound wealth and let it grow? If you are not in financial straits, you may wish to simply keep your Precious Metals. Gold represents great security and holds tremendous long-term growth potential. The value of Gold generally moves independently of the stock market and could give you an early start into a diversified investment portfolio. Learn more about the options of storing Precious Metals at a secure location. There are definite upsides to holding physical Precious Metals. If you decide to keep your Gold or Silver, you must think about where and how you will store it. 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 this Precious Metal at home? Do you fear becoming a target for theft? Think these things through as you plan.
If you truly need or want to sell, please allow APMEX to assist you. We have a competitive buying program and an excellent customer service record should you wish to sell. However, we are also committed to helping you make the best investment decisions for your needs. Selling at the right time is an important part of maximizing your Gold inheritance. When you are serious about selling some of your Gold, watch the spot price for an upward trend. On an upward swing, sell. Selling to APMEX is as easy as setting up a free online account and then calling us at (800) 375-9006.
Inheriting physical Gold, Silver or other Precious Metal is exhilarating but can also feel like a weighty responsibility. If you can take your time, seek advice and make considered decisions, we know that you can steer your newfound wealth into a lifetime of greater security.