Where do you keep your silver?

a1nipper said:
BeHereNow said:
In the states if an owner of a safety deposit box dies, Big Brother get to open the box, to see what has been stored, and figure out the tax that is due, probably about 40% for most of us, maybe more.
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The estate tax in the U.S. only applies to estates exceeding $5,340,000.
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Thanks for the correction.
In many states there is a flat 5% tax - excluded if the spouse is surviving.

There is also a concern that the Gov may decide to confiscate, not today, but under future circumstances.

For Pennsylvania -"Pennsylvania has a law which specifically addresses the entry into a safe deposit box upon the death of the owner. This law is designed to prevent the contents of the box from escaping the eyes of the inheritance tax authorities. There are a few exceptions but, generally, banks are obligated to seal a decedent's safe deposit box until it is inventoried by a representative of the Department of Revenue. (later) "Maintaining a safe deposit box to secure your valuables is certainly a wise decision. If your aim, however, is to pass on your wealth without sharing it with the tax authorities, the safe deposit box provides no protection."
http://www.estateattorney.com/safedepo.htm

The Department of Revenue wants to know what I own for a reason, and it is not to help me.

They will not take 40% right off the top as I had thought, so not as bad an idea as I had thought.
In my mind, still not a good idea.
 
By the way, that Pennsylvania law exists in my EU country too. I guess a thief is a thief no matter the place on earth.
About roo, I ceased to jump because of the coins rattling and people staring. :(
 
Cheepo said:
The higher costs of storage (due to higher volume) would actually be a good argument to buy gold instead of silver.
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I wonder, do the gold guys and girls put their handful coins in a 50 kilo safe?
 
My HUGE stash sits on my bookshelf :D

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I only stack smugglers gold and sure, it's a hassle to store and people look at you funny when you take a piece of fly wire to the toilet with you but it's cheaper than a bank vault.
Good news is, I haven't lost one yet.
 
Blake17 said:
I only stack smugglers gold and sure, it's a hassle to store and people look at you funny when you take a piece of fly wire to the toilet with you but it's cheaper than a bank vault.
Good news is, I haven't lost one yet.
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It's a reversal of the gold foil encased chocolate.
 
Blake17 said:
I only stack smugglers gold and sure, it's a hassle to store and people look at you funny when you take a piece of fly wire to the toilet with you but it's cheaper than a bank vault.
Good news is, I haven't lost one yet.
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Abit like the key under the flower pot next to the door.
See, it just illustrates how supposed inventivity is beaten by age and experience. Or in other words: the supposed new idea, wasn't new after all.
As I see it, there is only one rule when chosing storage: make it as hard as possible to get it. Inflict them as much work as possible. For example, those 'common looking things' with a hidden storage, are an example of inflicting a bigger amount work (ie having to check each and every item in a house). But should not forget that it needs many items to work, which can be hard in small houses/living places. I think the best way to look at it is to put oneself in the position of a thief, and imaging the possible experience, as to not overlook obvious 'get arounds' that are so big that they render all the rest useless.
For ex, sometimes you read about situations with a reinforced/armored door construction but the thieves breaking a wall instead.
 
I have a fair bit in Allocated/Mini-Allocated at two different bullion dealers.

At home, I have a bit in a safe. If a thief wants to spend time finding and breaking open my safe, that's fine with me. In the same time they could have stolen a lot more in electronics.

Been considering a SDB for the future. Looks to cost around $150-$160 for about 3000-4000cm/sq. (Depending on how neatly you stack them, that should fit 60-90 PM 10oz bars, or $13k - $20k. Obviously you wouldn't want to be stacking kilo coins in there, but bars should be good. And once I get to 900oz, it's probably time to move on to gold/platinum.

Slightly OT - are silver, gold, and platinum the only PMs you don't have to pay GST on in Aus? What about legal tender (ie. Palladium maple leaf)?
 
I have heard a story of a guy that burried it in the garden! crazy. so far I've only invested smaller sums, but in future I need to find out where it's best to store bigger amounts. bugger
 
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