Precious Metal Storage

3975 Views 26 Replies 14 Participants Last post by USPrepperSupply, Dec 9, 2013

KingM

Discussion Starter · Aug 2, 2013

I don't have the bulk of my investments in metals, but I do have a pretty good sum. I consider this an insurance policy more than anything, for a worst case scenario. And it wouldn't take a full upheaval to make it very useful indeed. Imagine if you lived in Poland in 1938 or Germany in 1946 and had a few gold coins to use bribing your way out of the country.

Most of it was acquired six or seven years ago, so I was lucky in terms of the price I paid. However, I started to get pretty nervous about it as the price went up. It seems that it made me a pretty big target for a robbery--not that anyone around here would know I have it. But people still have ways of figuring these things out. So I moved it to a safe deposit box at the local bank, where it has been for several years.

But doesn't that kind of defeat the point? If you need your emergency gold and silver the proverbial brown stuff has already hit the rotating assembly of blades and is flinging in all directions. Banks might fail or have their assets confiscated by the government, and if that happens, the first thing they'll do is plunder the safe deposit boxes. Of course they would confiscate my belongings, and if I were lucky, I might get paid in rapidly depreciating pieces of paper.

So if storing at home is too dangerous and storing at the bank is pointless, what's left? Watch the news carefully and run to the bank when things look iffy?

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StarPD45

· #5 · Aug 2, 2013

Another thing about "safe" deposit boxes is when you die, the government "officials" will freeze access to the box until they can "check it out".

There used to be, and maybe still is, a way around this. It's called a nominee corporation, set up by a lawyer. The box is rented in the name of the corporation. The only place your name shows up is on the signature cards.
Of course, the last time I had read about this was pre-Patriot Act, so who knows?
As to where to hide metals, the sky's the limit. Just think outside the box, and as was mentioned above, keep a list. I guess I don't have to mention that the list shouldn't be where someone might "accidentally" find it.

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StarPD45

· #21 · Aug 6, 2013

KingM said:
This is the problem I have with those *&%! online passwords. You have to use different ones in case one account gets hacked, which means you need a list. But as soon as you have a list you're at risk of either losing it or having it stolen and then someone has all your account information in one handy location.

As to the list, there is no way I would ever store that on my computer, much less on the "cloud". My grandkids probably know as much about hacking as the NSA, not that they would ever use it for illegal purposes. Doesn't that give you an idea about how "safe" things are in "space"?

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