Maple Leaves stolen.

Again, rule #1 is tell nobody. Only person that knows about what I have is my wife. If I told my friends, they'd laugh at me for being a coin collecting geek, so there's two reasons not to tell them.

I'm not into paying the bank to watch my things and have them only available to me during their strange hours. I might think differently in the future when I have a great deal of bullion, but since I'm a little guy, no sdb for me.

 

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Yep, risk vs. reward.

The tolerance for possible loss will vary by the individual, but $200k is pretty extreme to have in the house. There again, that would exceed my tolerance, maybe for him he was ok with it even if regretting it now.

 

You're taking a statement that is often made, "if you don't hold it, you don't own it", and putting a nice little spin on it.

You sure there were no illegal search and seizures of SDB's, Mike? I find that hard to believe...

 

They are the ones sir who put that spin on it. I support the notion that you should physically have the pm, I am agains the notion that this extends to having to keep it in your house to physically retain ownership.

 

I can see the whole if you dont hold it you dont own it thing. If the dollar collapses you will not be able to get to your SDB due to banks closing (holidays). And as to show me one instance where the US government has forced opening SDB. With as much as the government is intruding on our rights now like never before the whole just because they never have they never will idea does not wash. With that being said I do keep some in a SDB but like someone previously stated I dont keep all my eggs in one basket.

 

Can they open a SDB ilegally? Yes, but can they search yoru home illegally? Yes. I am simply saying I do not agree with, "if you don't hold it you don't own it" goes as far as having to have the PM physically in your home. I agree with it regarding ETFs and PM deposit accounts, I think those are not great ideas if you are a long term holder of pm.

Feel free to disagree, I will just play the odds of how many times people have been robbed at home, (2 million a year), versus the number of confiscated SDB actions I am aware of in the USA, (zero).

 

Let's just say I am VERY comfortable with the odds.....

 

Agreed.

 

So Medorman brings up a very good point. The expression "if its not in your home you don't own it" does get thrown around a lot but does not get challenged. Part of the reason people throw around quotes like "you don't own it if you can't hold it" or "your coins are not safe in an SBP" is because your average PM owner is paranoid and distrustful of the government. Look at the comments section of any article about gold or silver and you'll see what I'm talking about. I personally use a SDB and it sounds like if the maple leaf owner used one, this thread wouldn't exist. The concept of the government breaking into my SBP and taking my coins does sound a little far fetched, but anything is possible. I prefer the risk of the government stealing my coins over storing coins in my house where I can get robbed and my family hurt, but that's just me. I am not knocking anyone who does store PMs in their house.

 

I didn't want to start a new thread, but here is a guy who had his safe stolen by his daughters boyfriend. Boyfriend then sells 65K worth of gold to a pawnshop for 6K. Luckily they busted him. http://articles.sun-sentinel.com/20...d-pawns-20130815_1_gold-bars-girlfriend-coins

 

That safe should have been bolted to the floor or wall. What's the point if it can be carried off and opened at leisure?

 

It was likely one of those little personal fire safes.

 

Again, keep your trap shut and you'll be alright. This guy told his daughter too much and had his eggs all in one tidy metal basket instead of multiple locations that were inconspicuous.

 

Not sure too many folks know about good ole M. Hercule Poirot...I used to read a lot of those books as a young lad.........ah yes...Elephants CAN remember!

 

Even better than a bank SDB is a credit union SDB, IMO.