Do a yearly review of your metals
Short answer: Once a year, count what you hold against your records, review your average cost and goals, check your insurance and storage, and update the details your family would need.
Match your records to reality
Count what you actually hold and compare it with your records. Fix any differences now, while you can still remember why they happened.
- Count items and weights per metal
- Check serial numbers for bars
- Confirm each item's storage location
Review the numbers
Look at your average cost per gram for each metal, your value at today's spot and your gain or loss. Compare your weight with the targets you set.
Check cover and storage
Make sure your insurance still covers what you own at today's value, and that your storage is still secure and dry.
Update the people side
Review who knows where the metal is, and update your estate records and any shared access if things have changed.
Questions
How long does a yearly review take?+
An hour or two if your records are kept up to date through the year. It takes much longer if you have to reconstruct them.
When is a good time to do it?+
Pick a date you will remember, such as your birthday or the start of the year, and put it in your calendar.