How do you store your silver?

Discussion in 'Bullion Investing' started by myownprivy, May 21, 2018.

  1. myownprivy

    myownprivy Active Member

    If you have /any/ serious value of silver, how do you store it?

    As in, if you have even $10,000 of silver (or 610 ounces or 38+ pounds), where do you store it?

    It won't fit in a safe deposit box.

    It's pretty obvious you have something valuable in your home if you have a safe, so it's just saying to the robber "look here."

    Hiding a safe might be a good idea, but affixing it under floorboards, in a secret wall, or something similar seems cost prohibitive to protect only $10,000 of silver.

    Not securing it and sticking it a sock drawer in might be too easy to steal, but then again, who stores their socks in the bottom dresser drawer? No one. Everyone stores socks in the top drawer. So, I can't imagine your dresser top drawer would hold 38 pounds of silver.

    On the other hand, you can very easily store $10,000 worth of gold by putting those 8 ounces or so of gold coins in a safe deposit box.
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    It will fit in a single or multiple SDBs. Maybe your bank only has small ones?

    have you ever looked into safes? The real ones?
    A Class B or Class C safe would be good enough for generic silver and those are relatively inexpensive.

    FYI, 610 oz is less than 31 tubes of ASEs. That's a small safe - like a $435 Class B Gardall safe. or $700 Class C safe.
     
    Last edited: May 21, 2018
  4. longnine009

    longnine009 Hammer of the gods

    That't not point Claw. The point is, privy hates silver.
     
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  5. Clawcoins

    Clawcoins Well-Known Member

    ahhh .. got it.

    I wonder why then he rants on silver in general?
    maybe bought it at $50 at one point and is now stuck with it?

    Just don't buy it and don't worry about it.
     
    longnine009 likes this.
  6. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I do have a lot of ASE and cull silver dollars. I keep my gold in a bank deposit box, but keep the silver in a safe in my bedroom. Yes, a safe is a big "welcome sign" to a potential thief. But we are talking 2000 lbs plus on the second floor of my house. Unless he brings four buddies and furniture dollies when he breaks in, I believe I am OK.
     
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  7. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Briefcase with handcuffs. You should see the bicep. :troll:
     
  8. Santinidollar

    Santinidollar Supporter! Supporter

    You couldn’t get a safe deposit box around here if you tried. The only solution I see is a home safe and a security system. ANA members have access to collectibles insurance but I don’t know if they will cover bullion.
     
  9. Clawcoins

    Clawcoins Well-Known Member

    Funny thing.
    I've always linked his name to Canadian Silver.
    All those Canadian silver Dollars with Privy marks thinking he wants a custom Canadian silver dollar with his own privy mark.
     
  10. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Point is quite valid. However I store silver for the express purpose of divvying up amungst grand kids when I leave this party. And being that my kids are quite prolific.... Whomever is stuck with the divvying upon my demise will have a far easier job with silver rounds.
     
  11. longnine009

    longnine009 Hammer of the gods

    If you were exceedingly wealthy and exceedingly eccentric and could waste a lot of money on a lot of space it would be fun to store PM's somewhere inside a very large Labyrinth. The Labyrinth could be equipped with TV cameras speakers, microphones and dozens of decoy safes filled with clay bricks. When someone breaks in, who cares? After a few days, you'll hear him screaming about how hungry he is. You then direct him to the exit where awaits your Hollywood version small town overweight cop wearing a winter coat with fur collar in July.

    And don't forget you can taunt him through the speakers as he's trying to get out. You know, play some rattlesnake sounds or maybe some Moody Blues "...breathe deep the gathering gloom..."
     
    Last edited: May 21, 2018
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  12. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Or you can store it inside your Pacific island dug out of an extinct volcano, with hidden submarine base, underground monorail, and big ol' honkin' "laser". Wall after wall of analog gauges, too.
     
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  13. longnine009

    longnine009 Hammer of the gods

    Wasn't that a James Bond movie? ^
     
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  14. myownprivy

    myownprivy Active Member

    I don't hate silver. I actually like it quite a bit and own quite a bit. But I would never imagine it as being a practical hedge, savings, or investment if you want to physically own it. It's just too big, worth too little, and premiums are too high.
     
  15. myownprivy

    myownprivy Active Member

    You're right. I like those and collect them, and that's exactly what my name is referencing. But that's the key for me: "collect." I really like the Privy Marked coins and have a couple dozen different ones.

    I also own ASE and Silver Maples, but no where near enough to consider a savings, a hedge, or an investment.
     
  16. atcarroll

    atcarroll Well-Known Member

    Idk, maybe he means privy as in outhouse, they used to call them privies in the old days. Oooh i just had an idea, nobody would think to look for silver in the bottom of a privy.
     
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  17. CoinBlazer

    CoinBlazer 0101000001001101001000000110110101100101

    I store my rolls of UNC 1960 Quarters in my parents gun safe
     
  18. Clawcoins

    Clawcoins Well-Known Member

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  19. CoinBlazer

    CoinBlazer 0101000001001101001000000110110101100101

    Which 2 words?
     
  20. Clawcoins

    Clawcoins Well-Known Member

    "coins (quarters)" and "gun safe"

    well, I guess that's 3 words. :)
     
  21. CoinBlazer

    CoinBlazer 0101000001001101001000000110110101100101

    What? Are people scared my gun is going to go off and shoot a hole thru my coins?
     
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