Storing a LARGE amount of silver

[THUCYDIDES79]

he could, and it would seem that he is spreading the risk, by having some at Perth Mint and Ainslie.

But he could wake up one day and find out that he cant withdraw his PMs, and im saying he could.

I wouldnt believe them, the banks are stealing and renegging on their promises, bookstores have started doing it too, there are changes in goverments, whats happening in Egypt could in some other shape or forms happen here.

get the silver and bury it in the bush!!! - i am aware that this
sounds idiotic to some. But remember when you are trying to
redeem vouchers, and paper deposit certificates, sometimes you get
declined with a smile.

 

[Rothbard]

Jeeez there's some real gamblers in this world, selling a house and shoving all your money into 1 investment class.

You make it sound like he is going from diversified to one investment class... how many investment classes is a house?

Spot on...Silver is also far more liquid than a house as you can sell off bits of it and without needing to use a broker/conveyancer etc to do it.

Makes sense to me...Infact i know a few property experts who have sold their properties and now hold physical silver.

They bury theirs in the bush by the way because $2m worth is only the size of a minibar fridge.

 

[Matthew 26:14]

Jeeez there's some real gamblers in this world, selling a house and shoving all your money into 1 investment class.

You make it sound like he is going from diversified to one investment class... how many investment classes is a house?

Spot on...Silver is also far more liquid than a house as you can sell off bits of it and without needing to use a broker/conveyancer etc to do it.

Makes sense to me...Infact i know a few property experts who have sold their properties and now hold physical silver.

They bury theirs in the bush by the way because $2m worth is only the size of a minibar fridge.

Yes but a house is actually an asset you can "use". Even if the value of your house fell to zero, you can still live in it and in effect "makes" you money by not having to rent. You cant live in silver bars....

 

[Rothbard]

You make it sound like he is going from diversified to one investment class... how many investment classes is a house?

Spot on...Silver is also far more liquid than a house as you can sell off bits of it and without needing to use a broker/conveyancer etc to do it.

Makes sense to me...Infact i know a few property experts who have sold their properties and now hold physical silver.

They bury theirs in the bush by the way because $2m worth is only the size of a minibar fridge.

Yes but a house is actually an asset you can "use". Even if the value of your house fell to zero, you can still live in it and in effect "makes" you money by not having to rent. You cant live in silver bars....

If you live in it then its not an investment. AND you cannot trade out of it easily.

One of the biggest mistakes home owners make is believing that the house they live in is an investment. It is not.

You will also discover that in some areas, the price of ownership even once "paid off" can be higher than renting due to land tax, council rates, water rates etc. The family home is then a liability.

 

[LovingtheSilver]

Cheers chuckey and welcome... in the hand is much better than 'stored' somewhere else, and you are right, 200kgs (way more than i can afford) wouldnt take up that much room... depends if he sold his only house. If he did then sure, stash somewhere else otherwise he's stuck with the chore dragging it around place to place or having to trust someone else.
If ihad that much money to buy 100-200kgs of silver, at least 50% will be in shares. If you are truly confident in the price increase of silver (and thats why you buy bullion) then you should be even more so confident in silver mining shares. They say gold is for preserving wealth and silver for becoming wealthy... i like to add... and silver shares will make you even wealthier.

 

[Maggie]

Absolute truth Chuckey, we all need to keep buying physical metal, so that we may eventually force the hand of the likes of JPMorgan and HSBC.

 

[SparkySilver]

by the silver and store it yourself, because others will steal it eventually

If you are taking possesion of silver... don't trust ANYONE to store it for you. Even a bank... Stack your silver and store it yourself so NO one can ever take it. NEVER trust anyone with your silver.

 

[Big A.D.]

The reason I suggested the Perth Mint depository is that if I were holding a large amount of liquid and untraceable assets, personally I'd be more worried about someone kicking down my door and holding a gun to my head than having the government confiscate it through some tricky paperwork.

Obviously you'd need to do a proper risk assessment and your mileage may vary, but you'd also need to factor in your ability to liquidate a physical stack if precious metals become contraband - you'd be holding 200-odd kilograms of something equivalent to heroin and it can be picked up by metal detectors, so good luck selling it locally, posting it overseas or getting on a plane with it.

 

[Argentus]

bellinvest,

Has your friend got a big back yard? Third post on the left in the second paddock...down about a metre ...That's the safest place...but for goodness sakes tell somebody.....that's where mine is...or is it the second post in the third paddock???

on another topic... I see Ainslie have a special on Ag...spot + $5 /kg for $100k or more..and silver is supposed to be "short"!! go figure

 

[LeadWrist]

can you get a 200kg bullion? that would be fairly hard to steal...

 

[goldpelican]

200kg total - e.g. 40 x 5kg bars.

 

[intelligencer]

7 x 1000oz bars would be close and pretty hard to steal.

 

[villiagegate]

Just to counter one thing said, the Perth mint has Categorically denied that it leases metals. If unsure, go allocated. I have a spread between Perth mint and a private box.

 

[bron suchecki]

In a world gripped by financial crisis and socialist ideals there is a real potential that Australian government wealth confiscation will extend beyond your mining company share ownership. Remember all a government have to do is announce that precious metals are a key ingredient to central bank stability, then declare a financial crisis and it could become illegal for private ownership of precious metals.
...
A bullion bank will lease the metal from say the Perth Mint, and against it sell silver short contracts on COMEX in either a spread or outright short position and influence the price of silver downward.
...
Dont be a dope, do some basic research if you dont believe me or ask some questions, I realise this is only a brief intro to a complex issue, but I will stick around to answer questions. Above all dont trust your wealth will increase if you hold your paper metal held in unallocated accounts.

Chuckey,

Confiscation - the issue of Australian Govt confiscation is a bit more complex than you describe, I've covered it in detail here http://goldchat.blogspot.com/2008/11/australian-gold-confiscation.html There are risks with storing with us, but also with personal storage, it isn't a black and white issue.

As to the risks of unallocated, I suggest you follow your own advice and do some basic research on the Perth Mint's unallocated http://www.perthmint.com.au/investment_invest_in_gold_storage_options.aspx

Your statements about unallocated are valid for many other versions of unallocated but not the Perth Mint's. You need to appreciate that a lot of the bullshit put out there about us is from our competitors, who have to resort to misinformation as they can't compete against a 100% backed, not leased out, zero storage fee Government guaranteed facility.

 

[DutchBullion]

Put it under the floor in the bathroom. Normally bathrooms are a bit raised from the normal living areas, 200 kg would easily fit under that. Safest place in my opinion. Haven't heard of a burglar breaking the tiles to get to the floor in bathrooms, maybe when they read this, they might do that -.-".

 

[Ridesags]

bellinvest,

Has your friend got a big back yard? Third post on the left in the second paddock...down about a metre ...That's the safest place...but for goodness sakes tell somebody.....that's where mine is...or is it the second post in the third paddock???

on another topic... I see Ainslie have a special on Ag...spot + $5 /kg for $100k or more..and silver is supposed to be "short"!! go figure

Is this AG ready for delivery or will have to wait 4-6 weeks ?

 

[Yippe-Ki-Ya]

Dont trust anybody with your silver. Especially not banks, and definately not government!

Banks and government are the scum of the earth and will steal your bullion at the first opportunity that presents itself.

 

[THUCYDIDES79]

Dont trust anybody with your silver. Especially not banks, and definately not government!

Banks and government are the scum of the earth and will steal your bullion at the first opportunity that presents itself.

+ 1

Great 1st post Sandra, welcome to the forums

 

[bellinvest]

Looks like my mate might opt for the private vault in Brissy and stack up in stages

Thanks for the replies

 

[Matthew 26:14]

Dont trust anybody with your silver. Especially not banks, and definately not government!

Banks and government are the scum of the earth and will steal your bullion at the first opportunity that presents itself.

Yup. But if you are a member of the "banking class" then Government will protect you no matter the price.