How do you store your silver?

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

  1. Bud1 Wilson

    Bud1 Wilson Well-Known Member

    I watched that movie...IT was great.
     
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  3. Collecting Nut

    Collecting Nut Borderline Hoarder

    The fact is all 50 states currently practice SDB confiscations. Each state is different. The information is out there as to what they can do and how long it takes to have the properties returned to you or your heirs.
    One state holds the property but the interest goes into the general fund. California on the other hand spends it all.

    The bottom line is SDB's are not for everyone and we should all educate ourselves for their use or not.
     
    serafino likes this.
  4. myownprivy

    myownprivy Active Member

    Yes, they do. There are very clear reasons for why and when a safe deposit box would be seized or forfeited. However, these reasons are no different than when a bank account, for instance, would be frozen. Do you store your cash under your mattress, or do put in the bank with FDIC protection? I put it in the bank.

    What this really comes down is do you trust our system? If you do, as most rational people do, than a safe deposit box is a safer option.

    If you do not trust the system and believe your neighbors are your safest bet, than store you items in your home and in your yard and hope no one wants to rob you.

    Personally, I don't completely trust anyone. But, I trust the government and its system more than I do the common man. I am more afraid of home invasion or someone snooping in my yard than I am about the government confiscating my property. Thus, I put my money in the bank, my gold in a safe deposit, and I pay my taxes.
     
  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    One reason is all that is needed. Like you didn't access you SDB in over 12 months. Or we thought you abandoned us (even though you are paid on the rent and you use all the other accounts.) Banks do make mistakes and records get lost.
    You sound young and totally unaware of what is currently taking place in all of America. For your sake I hope you do not find out the hard way. I've provided you the information. I've encouraged you to research it and you refused. I've done all I can do. As the saying goes, you can lead a horse to water but you can't make them drink. Best wishes.
     
  6. CoinBlazer

    CoinBlazer Well-Known Member

    Nah....I moved them actually. Thanks Bud
     
  7. CoinsandBars

    CoinsandBars New Member

    I simply tell people it's fake, so I have them scattered around my desk.
    No one bothers them.
     
  8. Bud1 Wilson

    Bud1 Wilson Well-Known Member

    Good guy... who knows, these guys could be right and there are some posts that support the statement that the chemicals may damage some coins. Attached is a photo of my walk in gun safe. I had it built into the basement of my home when I built the house in 2001. The room is over 21 feet in length, four foot wide and eight feet in height with 8 inch thick concrete walls. It is heated to a constant temperature of 70 degrees, all weapons are stored with the muzzles down to prevent oils and cleaning fluids from remaining in the bolts and triggers. Sorry the photo is not the best but the room is long and it is difficult to include all the weapons in one photo. Most weapons are of World war's one and two vintage some have a good value and some are of lesser value, not shown are my modest number of handguns....but this gives you some idea that I am most of all a weapons collector and somewhat of a coin collector...Bud also looks over the gun safe...

    S20180602_0002.jpg S20180409_0001.jpg <-Bud watching the gun safe
     
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  9. V. Kurt Bellman

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

    If you are a Pennsylvanian, you have perhaps less to worry about than residents of any other state.
     
    Collecting Nut likes this.
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    Yes, this is true. I see you are educated in this area. I wish others were too but alas, they choose to remain ignorant.
     
  11. V. Kurt Bellman

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

    The unusual effort in PA to find owners of allegedly abandoned property is well known and goes back to at least to the term of Barbara Hafer as State Treasurer. That was, like, the 80’s? I was at one of the state auctions to FINALLY dispose of abandoned stuff. One lot was a peanut butter jar full of inundated (by hurricane Agnes water and mud which had swamped a bank) of 2 cent pieces full to the lid.
     
  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    And the rules for confiscating are a bit tougher than other states.
     
  13. V. Kurt Bellman

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

    Quite a bit. That doesn’t stop the state from using the stuff as collateral for cheaper rates when financing though. Most truly orphaned stuff now gets sold by the State Treasury on eBay.
     
    Nathan401 likes this.
  14. Nathan401

    Nathan401 Supporter! Supporter

    Rhode Island is getting slightly better at returning property. The last few years have seen quite a bit returned, I don't have an exact number. This should be a priority in all States imo.
     
  15. V. Kurt Bellman

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

    In PA, not only is there a search website, but they actively ADVERTISE it too.
     
  16. Nathan401

    Nathan401 Supporter! Supporter

    Here too. Lots of radio and TV.
     
  17. V. Kurt Bellman

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

    Rhode Island? Duly noted.
     
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  18. Collecting Nut

    Collecting Nut Borderline Hoarder

    I think it's New Hampshire but not sure. They hold funds in account for you but they spend all the interest. California uses all of the funds and delays as much as possible returning any monies to you. They now have 5.1 billion dollars of taxpayers money.
     
  19. Nathan401

    Nathan401 Supporter! Supporter

    Well that doesn't surprise me about Cali. I'll say no more in order to adhere to CT rules .
     
  20. CoinsandBars

    CoinsandBars New Member

    I just ordered this for my 1/4 oz gold eagle. Still at work so I haven't tested it to see if the coins would fit or not. Since I only have 5 coins it will take me forever to fill it up.

    Only ordered 1 tray, probably take me forever to fill it up.

    [​IMG]
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  21. myownprivy

    myownprivy Active Member

    Nice looking case, especially once filled with gold! But where will you store it?
     
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