Question
Consider the following statements regarding the storage
of bullion: 1)Â Â Â Bullion should be only stored in a bank vault for maximum security. 2)Â Â Â Bullion should not be stored in a safe deposit box as it is not covered by insurance. 3)Â Â Â It is cost effective for small investors to keep billions in a bank vault. Which of the statements given above is/are incorrect? ÂSolution
Statement 1 is incorrect as storing bullion in a bank vault may not be practical or cost-effective for small investors. Storing bullion in a safe deposit box is a common and secure option. Statement 2 is also incorrect as bullion stored in a safe deposit box can be insured, although the insurance may be limited or require additional coverage.
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