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Precious Metal Storage

3975 Views 26 Replies 14 Participants Last post by  USPrepperSupply
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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I can't imagine keeping anything inside a bank? Did you read the story about the New Years even burglary in Argentina (I think) a year or so ago? All they took was the contents of everyone's safe deposit boxes because in that country it was more normal to keep money in the box then in an account. No way could I keep anything in a bank.

I have some at home. A burglar could find some, but its unlikely they'd stay around long enough to find it all. Its easy to hide. I love silver coins. I have plenty of the 1 ounce bullion coins and plenty more of the Pre 64 silver coins and don't really need any more. I always try to keep 2 ounces of silver on hand for each $1000 in debt I owe (and I only owe on property). But that has always been my goal even when I had a mortgage.

Put a few ounces here, put a few there, and even freeze or refridgerate a couple. BUT keep a list. When my dad passed a few years back and we were cleaning out his home I was most fortunate to find where he hid his only ounce of gold - I didn't even know he still had it - and the box almost went to the Veterans group that we donated much of his stuff - after we searched it better. We found other goodies too! Keep a list.
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I should note I've also buried some in a couple of very rural locations well above the water table. These are small caches that have other essentials. The only thing in these are some pre 64 coins in case they can be bartered. It's $2 face in one and $5 face in the other. I'm not keen on burying anything in the back yard like that. However my messy garage is a literal silver mine! I have no kids - so which ever niece or nephew goes through here will have fun.
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