I think many people here are already using such facilities ... Would bring in a lot of challenges! But why not?!
If anyone is interested in a real safe send me a PM. 10mm thick steel walls with a concrete filled cavity. 4 men wont carry it away. It'd probably take two of these theiving little pricks to pull the unlocked door open on it. Sorry to hear about your loss. C
Get a safe deposit box guys, it's the only way to go. Personally I'd never leave any PMs at home, or a safe for that matter I don't want to leave any bait for scumbags. If you can't trust a bank to safely store valuables then you have issues. Of course I am very sorry to hear what has happened to you Mickroy, probably hard to see any positives but be thankful everyone's ok. Get some cameras up, even dummy ones just so everyone gets the point.
A safe custody box is okay for gold, but silver eventually gets too heavy for just one. You also need to check their rules. BankSA told me gold wasnt allowed!
The bulk of my stasg is in a small safety deposit box at my local credit union i have a key as does the bankers and i have a private booth to look at it or add to it. Its 35 bucks a year keeping mpst of your stash at home especially in a larger city is risky. The last thing the bank would go after is your box its easier to steal from your savings account as we saw in Cyprus. Besides most boxes are full of paperwork and heirlooms not pms as stackers are a fringe minority.
Mickroy, thank you for posting. As this thread demonstrates, your experience has helped raised awareness in the community.
I have rang over 20 banks this morning the ones that do have safe deposit boxes are all full and generally have a 10 yr + waiting list
How does one go about storing larger quantities of silver that is too much for the largest sized safe deposit box at a private vault without having to rent a second box or should one swap Ag for Au and start again?
Well I guess it depends on your stance on pm's. Do you think silver will out perform gold or vice versa? If you think the gsr will fall then I think a swap is a bad idea, but if you think the gsr will rise then it's a good idea to swap now. If you think they will perform about the same over your investment period then a swap to gold is good for storage costs
Put it in PVC pipes and drop it into your septic tank (the solids one). Free storage, and I can almost guarantee it'll be safe for a few years.
Which is one small reason which plays on my mind when choosing to buy either gold or silver. I'm thinking of either just buying unallocated with a trusted dealer from now on and only taking delivery if I believe it would be in my best interests or renting a small storage locker bigger than a safe deposit box from a Kennards or Storage King. I'm aware of the risks (Ivanhoe) that comes from public storage but it would still be more secure than having it in my home imo.
Theres still those misconceptions that linger regarding unallocated,safe deposit boxes etc IMHO there just remnants of the perma bull days when everyone was trying to sell the silver story. Alot of those stories about confiscation etc were drummed up American hype & fear mongering in order to sell the whole "buy physical" idea. Whilst nothing beats the feeling of holding your own metal,ive chosen to put my eggs in a few baskets. Whilst im not completely comfortable with the idea of unallocated,it is convenient.However ive set limits to how much is stored within a company. In saying that,theres other ways to store your metal at home too.Think of places that no one would possibly imagine of thinking of looking.Get creative. If you know how to use a screwdriver/shovel you can hide anything anywhere. Also id imagine most homes in break & enters are not targeted because someone owns precious metals,but homes are chosen because they present an easy target or other circumstances that appeal to a thief. Ive been robbed a few times over the years,most times you can tell alot about a person by the things they choose to steal. Mostly kids do the break & enters around hear so they are after kiddy/teenage things etc I once stupidly left my car unlocked one night & left a brand new $1500 paddle board & $500 carbon fibre paddle in the car. Kids went through the car & stole a backpack & a pair of $60 everlast sneakers,leaving the expensive stuff untouched,thank goodness. I read somewhere that the average house robbery takes usually around 8-15 minutes
I once lived in a apartment block and a neighbor had a tool box stolen from his van. As he had a hunch it was stolen by another tenant he put up a notice on the notice board outlining that his line of work was in maintaining the machines used in nuclear science and medicine and that many of the stolen tools had reached their safe limits in terms of radiation absorption, he wrote that his main concern was the that the thief may soon fall ill with radiation poisoning or even cancer some time down the track, and he didn't care if the tools where returned or not, that they should just keep them away from their person. His tools where left near the bins a few days later. All was complete bullshit, but he got his tools back.
