What about storage and insurance?

Bullion, Mining Stocks, News, Information & General Chat
User avatar
TonyJ
Rank 5
Rank 5
Posts: 69
Joined: 21 June 2016
Country: Spain
Spain

What about storage and insurance?

Postby TonyJ » 30 August 2016

Holding physical gold involves storage and insurance costs. If you have a safe, storing your bullion at home is a possibility. What are my options?

User avatar
Silver Rocket
Rank 5
Rank 5
Posts: 62
Joined: 20 June 2016
Country: Canada
Canada

Re: What about storage and insurance?

Postby Silver Rocket » 02 September 2016

Gold Bird wrote:Holding physical gold involves storage and insurance costs. If you have a safe, storing your bullion at home is a possibility. What are my options?


My view.

Storing your silver in a bank is a bad idea. If and when there is a bank holiday to route a bank run your stack is at risk. Come on, use a little common sense here. Were talking about the same banking industry responsible for derivatives and if you know anything about fractional reserve banking, you would have as little to do with banks as possible. Not only that but your safety deposit box can be seized by state and federal governments on a whim and the bank will have no choice but to comply. There are much better options to protect your silver. Dog, Safe, Hidden. Simple

User avatar
Allenby
Rank 4
Rank 4
Posts: 30
Joined: 03 August 2016
Country: United States
United States of America

Re: What about storage and insurance?

Postby Allenby » 06 September 2016

I keep all my gold in felt bags, I have one big bag with slabs and bars in air tights then I keep inside that an oakleys sunglasses bag packed full of 10th oz Eagles. I even keep my silver Eagles in air tights in big sacks. I look at the gold much more often than the silver in my stack. I think that somehow we all conditioned from birth to believe that gold is inherently better and more valuable and therefore it is not surprising that it gives slightly more pleasure. 

User avatar
Silver Rocket
Rank 5
Rank 5
Posts: 62
Joined: 20 June 2016
Country: Canada
Canada

Re: What about storage and insurance?

Postby Silver Rocket » 10 September 2016

I put mine in used tubs that I get my protein in. The lids have a nice rubber seal making them waterproof. I put them in ziplock bags to organize. I also put the moisture absorbants in the tubs..

User avatar
Gold Bird
Rank 5
Rank 5
Posts: 50
Joined: 22 June 2016
Country: Australia
Australia

Re: What about storage and insurance?

Postby Gold Bird » 15 September 2016

Ammo cans are the strongest container to store heavy precious metals or ammo, but they are air tight which makes it nice to prevent tarnish on coins.

User avatar
Freddy
Rank 5
Rank 5
Posts: 74
Joined: 18 June 2016
Country: UK
Great Britain

Re: What about storage and insurance?

Postby Freddy » 15 October 2016

I store my stuff variously, but I'm not as concerned with keeping it nice & neat like a lot of people. I'm buying the metal for the metal, so whether everything looks pretty isn't so much what I focus on. What I don't do is put it into a banks hands. You can store it with trusted loved ones, which I've done in the past. And of course, there are all kinds of clever ways that you can find to store it in your house. Obviously, don't go for closets, under beds, or toilet tanks. Those are obvious places that criminals look and kids can find easily. A small fire safe that can be readily hidden isn't a bad idea. Not that the metal is in danger of burning up, but you'd hate to have a house fire and then be out trying to find your lump of charred gold mixed with burnt plastics. That would be a disasters! Multiple diversion safes area good idea. You can get some that look like books, clocks, spray cans, etc... They can often work pretty well. Burial in the ground is something I've done as well. You can also store them in the bottom of a newly potted plant, but only if you're prepared to leave them there for an extended period. The sky is the limit. If you're handy, there is no reason why you can use some of the dead space in your walls to store pre-determined amounts.

User avatar
Freddy
Rank 5
Rank 5
Posts: 74
Joined: 18 June 2016
Country: UK
Great Britain

Re: What about storage and insurance?

Postby Freddy » 26 January 2017

Airtites and cap tubes. Don't need the airtites but the smaller and older fractional gold could be mistaken or lost so it's best to treat it like the precious metal it is. ;-)


Return to “Gold Council”

Who is online

Users browsing this forum: No registered users and 1 guest







GOLD & SILVER PRICES


[Most Recent Quotes from www.kitco.com] [Most Recent Quotes from www.kitco.com]

Share & Follow Gold Silver Council


Follow Gold Silver Council