Wow, I didn't know there would be such a ruckus about the whole stack issue while I was asleep. I don't want to drag it on, but to defend myself, the whole reason I "speculated" was to show that anyone with an 8th grade education could have figured out what Sticks had or at least a good idea of its order of magnitude, with the info he gave out. (and don't laugh if you learned algebra earlier than 8th grade, please :| ) If Sticks had mentioned that his stack was all in his home or in an unguarded storage unit somewhere, rest assured I would have never posted what I did publicly regardless of how elementary it was. I would have sent a concerned personal message about it. I honestly don't really care to speculate, just wanted to make a point. Since he mentioned the Perth Mint, I figured there was really no danger. While writing the post, I also remembered he had posted a picture of the stack calculator with numbers in it so I didn't think he was uncomfortable with revealing it. So, no hard feelings ... Sticks, moderators? And, maybe in a PM, can someone explain what an unallocated account means? And most importantly, if I made people feel uncomfortable, I apologize.
Allocated Account = your metals are kept in a separate security vault ie. not unlike putting your metals in a safety deposit box. You own full title over the metals. Unallocated Account = your metals are pooled with other investors and held by the issuer eg Mint. Difference to allocated is you don't have title/ownership over specific metal. So let's say the issuer goes bankrupt etc, then the trouble over what you "own" and your rights to metals becomes a problem.
But it is only a phone call away to deal with right? (now) All this is new to me too, I understand physical to a T as that is all I am interested in , but only because I dont know much about the whole thing and dont trust banks (never have) . As I understand things you can own silver on paper but if it all go's to SHTF scenario or even sort of close to it then you might have quite a problem collecting it in physical and depending upon when/where/how you find out that you might have a problem if you are stuck back in the que of people trying to collect on that piece of paper there may be some problems? Could there not also be some problems with the institutions that hold your physical (if that is the case)for you if perhaps you are relegated on a list of who collects first? I guess what I am getting at is that can these institutions that actually hold physical for the everyday Mum n Dad investor be relied upon to look after you before they do the Gubmint that enforces their rules and regulations? IE who comes first in this sort of establishment?
Government always looks after the government. The way the system is set up serves to protect the governing body first and the people second (to a degree). Perth Mint is backed by the WA govt, yes. But that doesn't mean it is entirely safe from trouble in the very unlikely event that the WA govt. went into turmoil for whatever reason. I don't think we're at Zimbabwe stage yet :/ Big players stand to lose more and I would assume, get first dibs.. the small investors would get the scraps left over (if there were any). Nothing beats anonymity, a very heavy safe and white metal to put inside it. If you're buying silver to begin with, chances are you don't trust the government with your money or greedy, unscrupulous banks with your trashy cash to begin in any case. A GPS, shovel and a sweaty brow is another good option -- just bury it on a hill :/
Sponge is a metallurgic term - basically means powered metal. Got a link to the article? Pricing for 1000oz bars was dropped from the page http://www.perthmint.com.au/metalPrices.aspx in around June 2010 (I noted when it happened), but when I enquired I was told it was a retail decision as bars are only 1000oz nominal weight, and it was hard explaining to clients that a 1000oz bar was never exactly 1000oz - I'm betting this was related to the planning and implementation of the bullion trading website - it's bloody difficult to cater to online ordering of a 1000oz bar when they're all a unique weight and price - even APMEX list bars in this size individually when they have them for sale as there's a range of sizes between 950oz to 1050oz or thereabouts. As far as I know Depository clients can have allocated silver in 1000oz bars no problem.
But hills are erosional environments not depositional so you might find that there is not enough soil to bury your stash or it may erode and be exposed to the elements and pirate hunters.
Point taken.. however..hills dont generally erode in a human lifetime.. floods on lowlands may be more common (respect):|
sounds like a dream for a schoolboy with a metal detector ...dad...dad... i found something .Il pass on that idea PPSS
Just means that you will have to dig deeper to retrieve your stash... unless you put it in the bed of a channel and it has scoured during the flood... exposing it to the elements and pirate hunters
LOL... seriously don't bury your silver. But odds of anyone finding it or it being 'eroded' on a hill are sweet FA. How many people's pot stash gets found? ..and this is stuff actually being actively pursued by an entire police force ... there aren't giant task forces out searching for buried silver on someones' PRIVATE property :/ peace
You would be surprised how many people simply jump a fence and decide to dig an aggy drain over the boundary when the owners arent home to address rising damp problems rather than treat it from their side moral of the story - dont bury your pm's near a boundary
