Shipping gold can be a nerve-racking experience. You must place your hard-earned savings into someone else’s hands and hope for the best.
Approximately 40 million Americans move to a new home every year. Whether you’re crossing the country or finding a new place across town, you likely need to bring your precious items. Luckily, you can take a few steps to keep your shipment safe.
At Oxford Gold Group, we provide gold investment opportunities and storage options for anyone who wants to finance their future. As a precious metals dealer, we aim to help people learn how to make the smartest decisions with their life earnings. Continue reading to learn how to ship gold without all the risks.
How To Ship Gold Safely
Ensuring safe delivery for your gold isn’t much different than shipping anything else. We recommend the following steps when shipping gold:
- Determine how much your shipment weighs
- Select a sturdy container that fits your gold bars or coins
- Pack the bullion appropriately
- Pick the right precious metal courier
- Add insurance to your shipment
- Add tracking
These steps oversimplify the process, so continue reading to learn how to accomplish each.
Knowing How Much Your Shipment Weighs
First, you must determine the weight of your package. Large parcels filled with gold bars require more expensive and durable boxes and cost far more to ship than a few coins.
You can use an at-home scale to determine an approximate weight, though many already know the individual weight of each item they own. If you do, add each figure to find your total heaviness.
How To Pack Your Bullions
Proper packing directly impacts whether or not your package gets lost in transit. Last year, 49 million Americans had a package stolen in the mail. Fortunately, you can avoid becoming part of this figure by packing carefully.
First, we recommend using a double-walled box made of lightweight corrugated cardboard. You must pack two boxes inside each other to achieve this thickness. The extra layers of cardboard reduce the risk of your package breaking open during transit.
Next, you should select a tightly fitting box. If you pick something too large, your bars and coins might jingle around and make suspicious sounds. Choose a size that packs your items as compactly as possible.
When ready to seal the box, secure all flaps, seams, edges, and sides with filament or paper tape. The more you use, the better. Secure the smaller box first, place it inside the outer container (one inch larger in diameter), and tape it shut.
Once sealed, label the box with only the required information like the address, name, and return address. Don’t write what it contains, as this might generate too much attention.
If you’re only mailing a few coins, stick with a flat rate box. We recommend avoiding envelopes, as any protrusions from the flat surface might cause the package to break open during shipment.
Picking a Precious Metal Courier
You have many courier services to choose between, but each offers different pros and cons. If you’re mailing large, valuable packages, we recommend choosing one of the following:
- Via Mat
These couriers offer increased security and frequently deal with items valued at over $100,000. Shipping through one of these companies costs more, so if you only have a small amount of gold, we recommend picking FedEx or UPS.
FedEx, UPS, and other international mail services have locations around the globe that operate 24/7. Tracking your mail or getting in touch with a support member is easy.
Can You Purchase Insurance on Gold Shipments?
Yes, and we recommend it to everyone who mails even a gram of gold. Shipping gold is always a risk, even when completing the steps above, but insurance drastically reduces this risk. When you purchase insurance, the provider will pay you back your coverage amount if the items get lost or stolen.
Typically, you can purchase insurance through the courier service, though for pricier packages, you might want to consider a third-party shipment insurance company, like Cabrella. Make sure you select a plan that covers the total value amount in your package. After opening a policy, we recommend taking written accounts with photographs of all items in your box just in case something happens.
Tracking Your Gold Package
Before sending your package, make sure you set up the tracking option. Most couriers allow you to sign up for this feature to watch exactly where your box moves in real-time. Tracking programs also let you dictate whether or not you want to require signing upon arrival, which we recommend.
For example, the U.S. Postal Service’s Registered Mail Service tracks each step your box moves through, so if something happens, they can pinpoint exactly where the item got lost.
Shipping to Another Country
Shipping internationally isn’t much different than the steps we’ve already outlined. The key difference is that you must pick a courier who offers overseas deliveries. You should also expect the total transit time to increase, heightening the associated risks.
Other Transportation Options
Aside from shipping gold, you have a few other transportation options for moving your precious metals, including:
- Car: Sometimes, when people move, they feel safer keeping their valuable belongings with them during the move. When keeping gold in your car, remember that your auto insurance won’t cover the cost of anything inside your vehicle. If you’re moving across national borders, study up on any nation’s regulations before entering it with the gold.
- Bus or train: If you’re traveling to your new destination via bus or train, you can carry your gold with you, though you must practice extreme caution. Make sure to learn the transportation system’s rules surrounding gold beforehand. Keep the items in direct eyesight during the entire trip.
- Plane: When flying domestically or internationally, you can store gold in your carry-on. Never keep it in your checked bag since these frequently get lost. When you go through security, you might need to show the accompanying paperwork for your gold, and the guards may ask to see the items.
Depending on your needs, one of these options might work better for you than shipping, though we typically don’t advise it. When dealing with larger quantities, packing the gold with your other belongings often increases its risk of getting lost or stolen. If you do, keep your eye on the package at all times.
Use the tips below for extra caution when shipping gold:
- Clean all gold bars and coins with a towel before packing, to avoid rust and corrosion
- Keep all coins in their plastic casings
- Store coins in bags, tubes, or the original containers
- Store bars in cloth and protective plastic
- Separate layers of bars with a towel or bubble wrap
Looking To Invest? Purchase Gold From Us at Oxford Gold Group!
Shipping gold doesn’t have to be hard. Here at Oxford Gold Group, your future financial security is our top priority. When you’re ready to start your new life somewhere else, use our tips above to ensure that your precious metals reach their destination safely.