We bought silver, where do we store it?

[Dianne]

BuddyRey was big on silver. So, his sister and I purchased some american silver eagle coins... Not much, but some. Now we are worried sick if someone would break into the house and steal them.

What is a good hiding place for silver? If it is outside, like under our deck; will it change color from the weather? I keep thinking outside of the house would be the best place to go...

 

[Suzanimal]

Stick it in a Kotex box, nobody will grab that.

 

[sam1952]

Wish I could help but just be careful if you go boating with it

 

[Dianne]

Stick it in a Kotex box, nobody will grab that.

That's a good thought !! bottom of a trash bag with a used kotex on top .. Robbers would never go there.

 

[HVACTech]

the return air, or Blower section of your furnace or A/C unit typically has plenty of space that will not interrupt airflow. (behind the air filter)

OR

your friends gun safe. then what you can do is to issue notes to other people who can redeem them for silver by visiting your friend.

 

[Zippyjuan]

I could keep it at my house for you. Or a safety deposit box at the bank. But be sure to let some trustworthy member of your family or close friend know where it is in case something happens to you.

 

[Danke]

Send it to me, I have the perfect place.

 

[oyarde]

Outside is ok if you have already, toned/tarnished 90% junk silver , but for .999 Silver Eagles, they have no value except silver, but you want to keep them nice and pretty because they are only desirable to people that way , especially if the price is not very high.People are not bright .I would not put it in a safe deposit box .

 

[Zippyjuan]

That's a good thought !! bottom of a trash bag with a used kotex on top .. Robbers would never go there.

Just be careful not to throw it out in the trash! You can also get cans which look like real food cans for storing things in. Samples: http://www.bewild.com/dicansa.html (lots of cool places to hide stuff at the link).

 

[Ronin Truth]

Wherever it will be safe and very hard for strangers to find.

 

[Suzanimal]

Fake drawer bottoms

empty pain can in the garage

 

[Dianne]

These are some great ideas, thanks !! I did read a safe deposit box is the worst possible place to store anything of value. First, if there is a banking shut down you can't access your box and second, safe deposit boxes are subject to search and seizure.

 

[Barrex]

Yes it will change color and also rust (oxidize). Depending on weather you can lose significant value that way. If you want to hide it somewhere outside you need to put it into container and fill it with oil so that it doesnt oxidizes...

 

[Okie RP fan]

If you can buy and store a heavy safe (one that you could build into a wall or bolt into the slab of your house), go for that. Obviously you can keep your guns and other valuables in there as well.

Otherwise, hide it in a place in your home that you'll remember and where you think it'd be really hard to find for anyone else. I know that's not the most eloquent advice…

I don't recommend keeping it at any type of financial institution, for the reasons already stated. One being that access is NEVER 100% guaranteed.

 

[Suzanimal]

That's a good thought !! bottom of a trash bag with a used kotex on top .. Robbers would never go there.

 

[Brian4Liberty]

That's a good thought !! bottom of a trash bag with a used kotex on top .. Robbers would never go there.

Don't forget where you put it and throw it out!

 

[muzzled dogg]

Freezer

 

[Zippyjuan]

These are some great ideas, thanks !! I did read a safe deposit box is the worst possible place to store anything of value. First, if there is a banking shut down you can't access your box and second, safe deposit boxes are subject to search and seizure.

If the bank shuts down, yes, you won't be able to access it. But search and seizure requires a court order.

 

[KCIndy]

Dianne, it depends on how much silver you are looking to store, but...

I like using .50 caliber ammo cans. They're nearly indestructible, they're airtight, and they're JUST the right size to tuck away in a corner of an attic or basement. Here's a picture of one on Amazon.com in case you aren't familiar with what I'm talking about:

http://www.amazon.com/Caliber-Steel-Waterproof-Storage-Military/dp/B000J4HXUC

But DON'T BUY FROM AMAZON until you have check your local Army surplus store. Surplus stores usually sell the real thing for ten bucks, cash and carry. No waiting and no shipping and no paper trail. Hell, I've even seen them cheaper at farm stores like Rural King.

If you're storing stuff long term, you might want to invest in a few packs of dessicant:

http://www.amazon.com/Silica-Gel-Desiccants-2-1-Inches/dp/B003DKQB02

If you've got pounds of the stuff to hide, or something really expensive like gold, you might even consider burying it if you live in an area where you can do so without being seen. Fill one of those ammo cans and then seal the ammo can inside of several layers of garbage bags or painter's plastic and bury it somewhere marked in a way SO YOU WON'T FORGET WHERE YOU BURIED IT like, "six feet due north of the pine tree, underneath that hideous bird fountain my mother-in-law gave me...."

 

[KCIndy]

If the bank shuts down, yes, you won't be able to access it. But search and seizure requires a court order.

Anyone know if Credit Unions are subject to the same governmental rules for things like "bank holidays" and such? Credit unions are entities distinctly different than banks; most are locally owned and operated and answer directly to the people who have money in them. It's a lot more like a cooperative than a traditional bank.

I use a credit union myself. Personally, I find they are MUCH better than any bank I've dealt with.