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 Replies: 338 / Views: 21,565 |
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Pillar of the Community
United States
4008 Posts |
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Have your wife tell you what has happened to the price of laundry soap in the last few months. Yes, I know. I shop for food with her most of the time. You're right about laundry soap. It is WAY up in price. Fortunately, we use quite a bit less than they suggest and it still works well. Quote:It is so bad we now go down to da creek and use stones and a wash board.  LOL, MK! Yeah, I can just see you now, whap! splash! !%!$@#! Quote:
I wonder how many people took a beating buying gold & silver when it was heading north? I dunno, MK, but I do know that in investing one should have a 3-5 year minimum time horizon... meaning that one should only invest money that they do not need for anything for the next 3-5 years. This gives us time to ride out the price volatility without getting too worried about the ups and downs. If silver drops but if you don't HAVE to sell, there is no real problem. It is only when you MUST sell at a loss that there is a problem. Quote:
You have to think of it as having the PM and that's good. That's a fact, Angel. One aspect of buying and holding PMs is that I have pretty much forgotten about price and am only really aware of the number of ounces I own. Yes, price is important in some ways but so is just having PMs. As long as I have a general idea of the average price of my holdings that is good enough. If I was into buying and selling all the time then I would have to be more careful with it. As it is, I plan to hold any PMs I buy for at least 5 years, if not longer. Quote:
All right, I don't know if I'll be doing any more buying of PM this year, but I did just go out and purchase a bigger safe to store it all in Looks good, Barry. I have one that is similar to that except that it is lined with some fire resistant composite board of some kind. It's supposed to have 2 hours of fire protection at 1400°F or some such. Not to be outdone there, I also bought one of the small fire resistant lock boxes from Walmart. It fits right on the bottom shelf of my safe and adds a couple of more hours of fire resistance. The safe is sitting on and is backed by concrete, so that also gives it some fire resistance. We keep our backup data DVDs, estate papers, birth certificates, passports, some cash, and a few other important documents in there. It's cheap and having the 2nd small box in the safe might help if we do have a fire. Here's a URL for it: http://www.walmart.com/ip/SentrySaf...est/16419990 |
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Pillar of the Community
United States
5855 Posts |
We have a smaller fireproof safe for important documents, but I didnt think I really needed one for silver. Hopefully, I won't end up regretting it some day...
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Pillar of the Community
United States
4008 Posts |
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We have a smaller fireproof safe for important documents, but I didnt think I really needed one for silver. OK, that is good to have. Just remember that none of these things is actually fire-PROOF. They resist a certain about of heat for a certain amount of time and that's all they do. Hopefully, these will be enough to protect your valuable papers. I like the idea of the small fire-resistant box inside the fire-resistant safe. That should provide an extra layer of protection. Diversification of location is also some very good insurance. My folks and my son have safes too, so we all have copies of documents and computer files stored for each other. If disaster strikes then we have 3-way redundancy to help protect some things that we must not lose. I would not worry about silver being in a fire-resistant safe. Even if it melts, it is still silver and could be sold to a refiner. Yes, some of its value would be lost but the bulk of it should be salvageable. |
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Pillar of the Community
United States
667 Posts |
I like those floor safes, not much into the gun safes. The reason why they easy targets and easy to get into. Out in the country where I live I have no neighbors. Gun safes prove to be ineffective and the first thing crooks look for. They just say hey I have something valuable in here.
I have bought Silver three days this week including just now.
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Pillar of the Community
United States
5855 Posts |
Quote:
I would not worry about silver being in a fire-resistant safe. Even if it melts, it is still silver and could be sold to a refiner. Yes, some of its value would be lost but the bulk of it should be salvageable. Yep, that's what I was thinking. Of course, I'd be awfully sad if my 25th Anniversary ASE sets melted into slag... Quote:
I like those floor safes, not much into the gun safes. The reason why they easy targets and easy to get into. Out in the country where I live I have no neighbors. Gun safes prove to be ineffective and the first thing crooks look for. They just say hey I have something valuable in here. Well, we don't live out in the country and the gun safe will fit perfectly in a corner behind a door out of sight. Plus, it has enough vertical space to hold a lot of stuff. And who knows? Maybe I'll even decide to get a rifle some day... |
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Pillar of the Community
United States
2168 Posts |
I read that there was a safe company and actually delivered and installed in the middle of the night in places completely hidden. Sounded like a secret room type thing. But then you still have to think about the installers!
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Rest in Peace
United States
9104 Posts |
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I would not worry about silver being in a fire-resistant safe. Even if it melts, it is still silver and could be sold to a refiner. Yes, some of its value would be lost but the bulk of it should be salvageable.
If you have a fire that will melt even a single silver dollar, much less one inside a non-fireproof safe, most everything is going to be ashes. Try melting a silver quarter with a propane torch sometime. |
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Pillar of the Community
Canada
1502 Posts |
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Try melting a silver quarter with a propane torch sometime. did just that when casting my wedding bands. Not easy. |
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Pillar of the Community
United States
5855 Posts |
Well, you guys are certainly making me feel better about my choice of safes! At first, I thought I got a great deal compared to some online prices I had seen. But then, when I realized the safe I bought wasn't fire proof resistant, I thought maybe I had made a horrible mistake. Now, though, I'm back to thinking I did OK after all...
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Pillar of the Community
United States
2168 Posts |
Yes those 'fire resistant safes are Very heavy and more expensive and not fire proof. I used to work for a mortgage company and we had to kee collateral in those and with the safes came all the literature stating how long they resisted fire and really not that long for the cost. They would be harder to hack into though. Wery thick!
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Pillar of the Community
United States
2168 Posts |
Forgot to say Merry Christmas to all of you that celebrate!
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Rest in Peace
United States
9104 Posts |
Many fire resistant safes use a liner that releases moisture when heated. Not necessarily what you want for paper money or stamps.
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Pillar of the Community
United States
5855 Posts |
The fire resistant safes are heavier, which would make it harder for somebody to carry it out of the house. I figure it won't really matter, though, if I fill it with enough silver...
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Pillar of the Community
United States
4008 Posts |
Quote:
The fire resistant safes are heavier, which would make it harder for somebody to carry it out of the house. I figure it won't really matter, though, if I fill it with enough silver... Bolt it down, Barry. Put all the obstacles in the way of thieves that you can. I keep trying to convince my step-Dad to bolt his safe down and have offered to help with that. He has finally admitted that it would be a good idea but no action yet. Hopefully soon. Otherwise, a safe is pretty much just a convenient carrying box for the goodies inside. My son's safe is pretty big. It weighs 525 lbs. empty. He and I both used a heavy duty hand truck to move it by ourselves. It's not real easy to do but it sure is possible. |
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Pillar of the Community
United States
5855 Posts |
Good suggestion, Ed (although I suspect it will be a tad more difficult hauling a safe up a flight of stairs than it was getting it down in the first place).
How do you get the holes in the concrete floor to affix the bolts? I'm guessing my cordless drill is probably not the way to go...
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Replies: 338 / Views: 21,565 |
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Posted 12/22/2011 7:45 pm
