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Would You/Do you Store you Silver in a Bank Deposit Box ?
- Thread starter Liquid
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From what I've read, people's storing methods are based off of why they stack. I'm not stacking for a SHTF scenario so I keep a portion of my stack in a deposit box simply because I'm not a fan of having it all in one place whether it be all in my deposit box or any other location. Never keep all your eggs in one basket.
Ask yourself this. Is it more likely the government will enact SDB bail-in legislation, or your home will be burgled? FAR more metal has been lost on this forum due to home burglaries than any other method. Second highest form of loss is a single known instance of a targeted holdup during a F2F transaction with strangers at night for a significant amount. Third is probably people having their car stolen while there was metal in it.
Kennards were advertising SDBs that were in essence not much more than a locker room you supplied your own padlock for. They got in by cutting through a wooden door. No guards went by in the estimated ~4 hours the guy was in there.
The private facilities I've seen in Syd and Melb are far more secure than the bank SDB facilities I've seen in Australia, even the underground ANZ ones on Queen St.
Spread your risk. Little bit at home, little bit in unallocated, little bit in allocated, little bit in the bank, little bit in the private SDB, little bit under the roses, little bit out in the bush... pick any three.
Kennards were advertising SDBs that were in essence not much more than a locker room you supplied your own padlock for. They got in by cutting through a wooden door. No guards went by in the estimated ~4 hours the guy was in there.
The private facilities I've seen in Syd and Melb are far more secure than the bank SDB facilities I've seen in Australia, even the underground ANZ ones on Queen St.
Spread your risk. Little bit at home, little bit in unallocated, little bit in allocated, little bit in the bank, little bit in the private SDB, little bit under the roses, little bit out in the bush... pick any three.
What about under water? I have a pond nearby my house, so I don't have to worry about running waters and shifting floors carrying my metal away. It may be inconvenient both to put it there and get it back out. But once you work out the best way to do it, nobody is going to be walking on water with a metal detector! "Jesus, is that you? Are you looking for those 30 ounces of silver Judas sold you for? Yeah, middle America is a good a place as any to start looking."
Bigguy2468
New Member
In 2013 Cyprus banks closed their doors to prevent people from making panic withdrawals during a crises. A lot of good your silver would do you if it was in a SDB inside the bank.
See:
http://worldnews.nbcnews.com/_news/...anks-ordered-closed-to-halt-panic-withdrawals
See:
http://worldnews.nbcnews.com/_news/...anks-ordered-closed-to-halt-panic-withdrawals
sterling-nz
Well-Known Member
Well so far Niveka and his balloon sound about the most sane here.
Everyone is just so so so so paranoid.
Bury it?
Sink it in a pond?
I keep my kids at home and am not to worried about someone coming and confiscating them, yet people do not see their home safe for metals.
Funnily enough having kids confiscated by the government is FAR FAR more likely than having any metal taken.
SDB is fine, as mentioned by a couple here i too also know my bank manager and their home and their grandkids.
So if everything got shut down and a holiday called i would just give him a call and access would be easy because friendship TOPS government.
Home safes are fine as well, just keep track of what you have and call it jewelry and insurance will cover it.
I am yet to find a company to insure bullion held at home , but if you call it jewelery you are sweet according to my agent ( yet to test this though)
Everyone is just so so so so paranoid.
Bury it?
Sink it in a pond?
I keep my kids at home and am not to worried about someone coming and confiscating them, yet people do not see their home safe for metals.
Funnily enough having kids confiscated by the government is FAR FAR more likely than having any metal taken.
SDB is fine, as mentioned by a couple here i too also know my bank manager and their home and their grandkids.
So if everything got shut down and a holiday called i would just give him a call and access would be easy because friendship TOPS government.
Home safes are fine as well, just keep track of what you have and call it jewelry and insurance will cover it.
I am yet to find a company to insure bullion held at home , but if you call it jewelery you are sweet according to my agent ( yet to test this though)
Gollum said:
Why would anyone in their right mind go sharing their ingenious storage options on a public forum? Fact is, if you've thought of something new, it's probably been thought of by potential thieves. There have been too many stories on these forums alone about people who have lost considerable stacks to home storage solutions, a lot more than those who've had their assets 'confiscated by the government' or similar. Other than dumping your stack in 5km+ deep water, you're not going to completely remove the chance of some other bastard stealing it.
Gollum said:
You don't need to be a member to read posts on the forum, enough said. Information security is the best way to stay ahead of the pack, or a private storage solution. Many a stacker, stacks in order to keep their assets safe from Government confiscation in a 'shit hit the fan' scenario. Citing examples such as the US banning most forms of private Gold ownership in the last century and Cypriot banks locking their doors during their last debt crisis, many stackers actually stack to avoid these scenarios. Thus a Bank SDB solution wouldn't work so well for these stackers as the Government would just (supposedly) take charge and ownership of private vaults along with their contents, the owners having no recourse.
Identify your own risk profile, then decide whether or not you want to tell the world on a public forum how you store any precious items you possess. The answer to that might be why it's difficult to get information about how people store items that are dear to them other than 'use a private vaulting facility' or 'lost it in a boating accident'. I'm not having a go at you, just realise that this is what you're up against and members of this forum have had their life savings stolen by thieves who probably garnered information from posts that were visible on the internet.
