Storing it off site gives you 3rd party risk. Defeats the purpose of buying metals kinda.
Methods to store your precious metals
- Thread starter Gold Digger
- Start date
so you unintentionally acquired some fake bars is your reason for having them as decoys in your home? i'd rather not have anything in my home that suggests i have anything to do with precious metals.
Jason1
Well-Known Member
LEARN TO READ, this is pretty damn clear, But Ill post it again and highlight it for you
"I keep my real stack in a SDB and not at home, But I use these fake bars as decoys, I figure if some one was to come into my house to rob me and knew I had silver and thought I had it at home they likely wouldn't leave until they got what they came for, So these bars are good enough to convince some one they made a big score, and hopefully leave quicker after finding them.
also if they ended up at a dealer in an attempt to sell them, they would clearly show up as fake but also be easily identified by the markings, If they went for sale online same thing they would be easy to identify"
I guess the Upside to your lack of reading and me having to repost this, is its a good chance to make it clear to more people, Not to bother with my place, its only got some shitty tin fake bars while the real stuff is off site in a SDB.
seeing this forum is also readable to every one, even non members and is not a private forum. likely a good place for would be crims to find targets.
this is after all an open forum to the outside where people who talk about their stacks out in a public domain, so likely not that hard to find out where members live if a crim wanted to.
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Jason1
Well-Known Member
yup, fake bars at home real bars in a SDB.
So people reading this, just remember that, Im not much a candidate for home invasion if your looking for targets on this forum.
Look for those who keep the real stuff at home.
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Jason1
Well-Known Member
Cool story
SilverDJ
Well-Known Member
If you are going to store it off-site then you might as well have it somewhere that makes it easy resell with the click of a button. e.g. Perth Mint depository or some other dealer unallocated/allocated account.
Gold Digger
New Member
Thank you for your inputs gentlemen. I am leaning towards the Safety Deposit Box or Secure Vaults. Would any one suggest some reputable vaulting providers in Australia? Is vaulting more expensive compared to SDB?
Anything that aggravates burglars is to be avoided in my view. What might have been a tidy exit becomes a few kicks into the plaster and a jobbie on the carpet. They're not very bright and the step up to aggravated burglary and home invasion is a short journey for most.
Silver Crazy
New Member
I'm going to post this here and I tell everyone the same thing when asked in person. My main pile of silver is buried in a grave in Hillcrest Memorial Cemetery in Augusta, Georgia. The only person who can get it while I am alive is me. Provisions have been made so the Wife then Grandson can get it after my death. The stack I have accumulated over the last 20 years, since moving, is in the Wesbanco Bank here in Wheeling.
Silver Crazy
New Member
I didn't say my Silver was buried at Sad Hill but that is funny.
Silver Crazy
New Member
Thought I would share this with other stackers in case it will be helpful.
I am storing my Silver Coins in 5x5x24 storage boxes at my bank. I put $100 face in 250 count plastic card boxes as shown. I can put a total of 8 of these in each bank box. Good way to store your Silver Coins and it looks beautiful when you open the box and see all that Silver.
I am storing my Silver Coins in 5x5x24 storage boxes at my bank. I put $100 face in 250 count plastic card boxes as shown. I can put a total of 8 of these in each bank box. Good way to store your Silver Coins and it looks beautiful when you open the box and see all that Silver.
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Matthew Hooper
Member
IMO, private safety deposit box rental is the way to go. With things like this - https://en.wikipedia.org/wiki/Executive_Order_6102 - Putting your precious metals in SDBs at banks is just too risky in this day and age.
Alloy
Active Member
Diversity is good. At home you use clever concealment, like the in-wall idea someone posted, and the fake pipes idea I've seen on YouTube. You just add a fake pipe or two under a sink, in have coins or rounds in the pipes like in any other tube – perfect fit.
Buried is good too, with some constraints on how quickly and easily you can retrieve buried stashes, depending on distance, depth, privacy of location, etc. I don't believe in SHTF nonsense re: silver because almost no one owns any silver or other PM, therefore it can't be widely used as money or barter in a crisis. People can't use what they don't have. So I don't think you'd necessarily need to retrieve your buried treasure super quickly because of a social collapse.
Bank safe deposit box is also good. People have noted the third-party risk. That's just a mundane risk like any other risk, and needs to be quantified like any other risk. What's the probability that you'd lose your SDB contents? Well, how would you lose it? Probably either a major, sophisticated bank robbery, or some sort of government seizure that some PM enthusiasts worry about. The probability of a (non-governmental) criminal heist is extremely low. The tunnel heists are rare enough to have their own Wikipedia articles. They happen, what, less than once per decade in a country as large as the US? Once every 25 years? Or even less frequently? How often do they happen in Oz?
The non-tunnel heists I'm not sure about. A bank robbery these days is usually small-time drug addicts or something who quickly get cash from a single teller and flee. The well organized stuff you see in movies seems extremely rare now. I'm not sure how rare though. And most of those jobs don't bother with the SDBs – they're focused on the cash only. The SDBs probably have a much lower payout per second spent in the bank. They'd be dealing with lots of birth certificates, passports, personal effects, legal documents, jewelry of varying value, some cash, some PMs, and even completely empty boxes.
This compared to the amount of vault cash they could shovel into their bags in the same amount of time. Seems like they'd have to see SDBs as a waste of time that would reduce their total payout. SDB robbery makes more sense for tunnel jobs where they can take their time, say over a weekend when the bank is closed. And especially if they already know of something in a box that they specifically want, like an extremely valuable work of art or other object.
So it seems like SDB are pretty safe. I would diversify storage to include all these methods.
Buried is good too, with some constraints on how quickly and easily you can retrieve buried stashes, depending on distance, depth, privacy of location, etc. I don't believe in SHTF nonsense re: silver because almost no one owns any silver or other PM, therefore it can't be widely used as money or barter in a crisis. People can't use what they don't have. So I don't think you'd necessarily need to retrieve your buried treasure super quickly because of a social collapse.
Bank safe deposit box is also good. People have noted the third-party risk. That's just a mundane risk like any other risk, and needs to be quantified like any other risk. What's the probability that you'd lose your SDB contents? Well, how would you lose it? Probably either a major, sophisticated bank robbery, or some sort of government seizure that some PM enthusiasts worry about. The probability of a (non-governmental) criminal heist is extremely low. The tunnel heists are rare enough to have their own Wikipedia articles. They happen, what, less than once per decade in a country as large as the US? Once every 25 years? Or even less frequently? How often do they happen in Oz?
The non-tunnel heists I'm not sure about. A bank robbery these days is usually small-time drug addicts or something who quickly get cash from a single teller and flee. The well organized stuff you see in movies seems extremely rare now. I'm not sure how rare though. And most of those jobs don't bother with the SDBs – they're focused on the cash only. The SDBs probably have a much lower payout per second spent in the bank. They'd be dealing with lots of birth certificates, passports, personal effects, legal documents, jewelry of varying value, some cash, some PMs, and even completely empty boxes.
This compared to the amount of vault cash they could shovel into their bags in the same amount of time. Seems like they'd have to see SDBs as a waste of time that would reduce their total payout. SDB robbery makes more sense for tunnel jobs where they can take their time, say over a weekend when the bank is closed. And especially if they already know of something in a box that they specifically want, like an extremely valuable work of art or other object.
So it seems like SDB are pretty safe. I would diversify storage to include all these methods.
Burying made the most sense to me and only my mother and wife know where. Not even my kids know anything about it.
I only told my mom because I trust her and she lives out of state anyway, in case something happened to my wife and I at the same time. She could tell my kids where to find it and someone would know so it wouldnt be lost forever.
They will know in time for the right reasons but for now theres no reason for now so mums the word.
I didnt feel safe with the bulk of it in my residence even in a safe so I only have a certain amount and new purchases of course.
When this ammo can is full I'll bury it with the rest and it gives me peace of mind to do it this way and I'm a long term stacker anyway.
It's worked for thousands of years and it works for me.
As far as anyone knows it's never existed.
I only told my mom because I trust her and she lives out of state anyway, in case something happened to my wife and I at the same time. She could tell my kids where to find it and someone would know so it wouldnt be lost forever.
They will know in time for the right reasons but for now theres no reason for now so mums the word.
I didnt feel safe with the bulk of it in my residence even in a safe so I only have a certain amount and new purchases of course.
When this ammo can is full I'll bury it with the rest and it gives me peace of mind to do it this way and I'm a long term stacker anyway.
It's worked for thousands of years and it works for me.
As far as anyone knows it's never existed.