When an armored delivery truck was robbed near Los Angeles on July 11, 2022, thieves got away with Jewelry that was estimated to be worth more than $10 million. The truck was on its way to an event in Pasadena and somehow, thieves got the jump on the driver.

According to news reports, the jewelry was owned by a number of businesses and individuals. Brinks, the operator of the armored car that was robbed, has promised to repay all the owners. And given the excellent reputation that Brinks enjoys, we are sure the company will.

Even so, we can only hope that the owners of those stolen items had taken out insurance on the items that were stolen. But insurance is only one of many protections you can put in place for the precious metal investments, jewelry, and other items you own.

Insure Your Valuables

Coverage costs much less than you expect, so speak with an insurance agent and find out how to get your Valuable items protected. And another thing – keep a current, regularly updated inventory of your valuables and investments and share it with your insurance company. If you can’t document the valuables you own, you will have a difficult time having your insurance pay you for them if they are stolen or lost.

Keep Your Valuables in a Safe Location

If you only have a small volume of items, consider keeping them in a bank safety deposit box. If you have a larger quantity, store them in a special gold and silver storage facility. (You can find these companies by searching for “gold and silver storage” online.)

And remember that Specialty Metals Smelters and Refiners will securely hold your Precious Metal Scrap and other valuables for you until you tell us to recycle them and pay you for the precious metals they contain. That allows you to get your valuable recyclables out of your home or place of business and into our facility for safe storage.

Think Twice Before Lending Jewelry or Other Valuables

It might be tempting to lend a valuable piece of jewelry to a granddaughter or niece on her prom night or wedding day. But the best advice is, don’t do it until you speak with your insurance company and establish that insurance coverage will be in place. If you cannot verify that, offer apologies, and do not lend valuables.

Be Extra Careful about Protecting Valuables if You Ship Them

According to The Jewelers’ Security Alliance, a professional trade organization, as many as 86% of jewelry thefts occur when jewels are not on the premises of their owners. That means when jewelry is in transit, it is at the greatest risk of being stolen.

If you must ship valuables or jewelry, consider using a secure courier service. You can find them by doing a search for “secure courier services” online. Also, insure items when you send them. If you are using a service like FedEx or UPS, buy extra insurance and if you cannot obtain adequate coverage, don’t ship.

Remember, Specialty Metals Can Help You Safely Ship Gold Scrap, Platinum Scrap and Silver Scrap to Us for Testing and Valuation

If you have precious metal scrap to recycle, give our consultants a call today at 800-426-2344. We are here to minimize risk and maximize the return you receive from every precious item you recycle with us.

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