Discussion in 'Bullion Investing' started by myownprivy, May 21, 2018.
and my stuff ends up in tupperware containers ...
I guess I'm cheap.
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You can get those sized for the coin itself or sized for its perfect fit capsule from the same company.
I'm mostly a gold guy, but I am trying to figure this out myself. Even a couple hundred ounces of silver bullion coins in airtites and tubes will quickly fill up a safe deposit box.
I guess storing $3000 of silver outside of the bank isn't THAT big of a risk.
Storage inside the bank is a greater risk than storage in your home.
I just came across this thread and tried to click on the link above but it didn't go to any article. If you happen to have another link to the article you referenced, or any other links, if you can please post them it would be appreciated.
In terms of trusting the system, I think that we would have ample warning before a run on the banks or a personal bankruptcy and can take what we have out of a Safe Deposit Box then and bury it in the backyard, under the mattress, etc. In terms of death, make sure your heirs know where you hold a Safe Deposit Box. Trust me, unless they are extremely wealthy, THEY will remember this information even if YOU forget LOL! If you trust any of your heirs, ask them to be a joint owner with you on your box in case you can't access it. If you are convicted of a crime, financial or otherwise, you still have time to access and remove the valuable contents of your box before the government freezes your assets. Don't you need to be found or to plead "Guilty" before they can take everything from you? In the interim you can empty it out. Or is there something I'm missing here?
As far as I can see, the biggest risk to a safe deposit box is a natural disaster. But even so, there are not many that would ruin the face value of gold. Those that would are limited to magma from a volcano, the entire bank being swallowed up by the Earth or falling into the ocean in an earthquake, maybe the great wildfires of late or historic fires (can they can melt a bank's entire safe and its contents?).
Of course looters who dare to venture into the ruins of disasters with adequate machinery can saw into the safes, but the chances of all of this are slim to none. We all watch too many movies or TV shows where cool thieves have all the right tools, the right expertise, the right environments and the right odds to do looting successfully and gainfully. In reality most looters of disaster areas are desperate fools who risk their lives for little to no gain. If they are caught they are shamed to an extreme as they should be for showing up not to help those effected, but to steal from those who lost almost everything.
I store my PM’s in multiple locations. Diversification is key for true security as all methods discussed have their pros and cons.
I can hear that. Though multiple physical locations can be hard to keep track of. Do you find that difficult?
Not at all. I know how much is in each location and they are secure but easy to remember for me.
PVC tubes, sealed, and buried 18” deep in various locations. The list of locations is kept in my ‘death book’, coded, and the key to that code...well, let’s just say that I haven’t written it down yet.
I find it so interesting to hear about all the different methods people use.
So far we've got:
Safe Deposit Box - one or multiple, in the same or at different banks
Buried Underground - in ammo cans, coffee cans, other types of containers, and at various depths
Home Safe - Standard Home Safe, "Real" Safe, Class B or Class C Safe, a Gardall B2018, and kept in plain sight or hidden
Gun Safe - bolted and unbolted, with or without guns inside
Boxes in storage mixed in with shoes, clothing, hobby and crafts items
Hanging From the Ceiling
The Woodshop (though cautioned against this)
Simple Plastic Boxes
Briefcase with handcuffs
Plastic storage bin under the bed
In home entry ways epoxied in the floor
In Monster Boxes
In large, sealed ammo cans on tracks inside large gun safe in a reinforced concrete bunker.
At home, no safe
A Coin Room with a monthly Simpli-Safe security subscription with proximity switches on doors, motion detection, glass break detectors, a loud siren, immediate iPhone notification and links to camera in Coin Room.
Scattered around a desk, telling people it's all fake so no one bothers with them.
Does anyone have anything to add?
If it's space you're worried about, sell the $10K of silver and buy 9 gold eagles. done.
Sell low, buy high!
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