I don't have a lot but what I do have is in my fireproof safe at home. It's in my basement and weighs over 100 pounds. They would kill themselves trying to cart this thing upstairs. I suppose they could beat the crap out of it with a crow bar but that would make a lot of noise and take a long time.
Precious Metal Storage
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?
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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Agreed. I am paying cash for my pms and ammo.I have no problem keeping it at home. I figure I kept my wife and kids at home for years, until the kids moved out on their own. They are far more valuable to me than some gold and silver. Plus, about a third of the weight of sterling we have is actually in flatware. (We have five different sets.) Since Mrs Inor uses it sometimes, it would do no good to have it locked in a bank somewhere. Mrs Inor also has quite a bit of expensive jewelry as well and that is useless too if locked in a box inside a bank.
The other problem I have with keeping it in a bank is not that the government would seize it outright, but rather that they would know about it at all. If they know about it, they will eventually get around to taxing it. Given the recent NSA and IRS activities, I have been trying to keep as many transactions as I can "off the books", even for mundane things like food and clothing.
Call me crazy, but only slightly. I only have a coupe of handfuls.Who the hell would be crazy enough to pay money (taxed or untaxed) for PMS?!?! :razz: There were many years when I would have paid good money to avoid Mrs Inor's PMS.
Hah I missed that! But putting in an apostrophe isn't really proper. I've been married 22 years and already have an ample supply of PMS.Sorry, it was a sad attempt at a play on words. - PMS: pre-menstrual syndrome.
1 - 4 of 27 Posts
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