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 Replies: 27 / Views: 3,541 |
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Pillar of the Community
United States
2130 Posts |
I currently keep my silver in a fairly small lockbox. This would be very easy for a thief to just pick up and carry on its way. Would the coins be damaged if I moved the lockbox into my attic where they would be less likely to be found by a thief? The coins would be faced with extreme cold conditions in the winter and extreme heat in the summer, not the constant 65 degrees it experiences now. Looking for advice and maybe even ideas on how to better hide my coins inside my house. Thanks!
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Pillar of the Community
United States
5856 Posts |
From what I've heard, it's more humidity than it is temperature that causes problems. Hopefully, though, others will chime in and confirm (or disprove) this.
I just bought a small electronic dehumidifier for my safe to deal with the summer humidity.
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Pillar of the Community
Canada
1502 Posts |
Humidity's the killer, but rapid changes in temperature will help it along too through inducing condensation. If your silver is slabbed or housed in air-tight capsules, then you're fine. Else, sell some of it and insulate your attic.
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Valued Member
United States
100 Posts |
Mine are not exactly what you might call "hidden". I keep mine in a 1000lb fireproof gunsafe equipped with a goldenrod humidifier..Mr. Thief is going to need some time getting that out during which time either Mr. Smith and Mr. Wesson, the alarm company/police, or two 100lb German Shepherds (or a combination of all of them) will see to his disposition.
Earl
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Valued Member
United States
109 Posts |
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Pillar of the Community
United States
3670 Posts |
I agree TBK classic, lol....
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Valued Member
United States
362 Posts |
Mr. Smith and Mr. Wesson...
Made me laugh...
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Pillar of the Community
 United States
2130 Posts |
Thanks for the help guys...I am going to have to find a better place for them than in the attic. Humidity would be a big problem.
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Valued Member
United States
89 Posts |
I have had coins in airtite and slabs that have developed white spots so I don't think even that helps because there is still air in coin holder which will be affected by a climate change.
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Pillar of the Community
United States
667 Posts |
The white stains (or "milk spots") result from the planchet (flan) cleaning and preparation process. If the planchet is effected there is nothing you can do. These have appeared on the Maples, ASE's and Philharmonikers. I don't know my silver and gold goes through extreme temperatures and humidity changes. So far call it luck they have been fine but then again it is juts bullion. |
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Pillar of the Community
United States
4008 Posts |
Quote:
I like earls answer, Me too. It's a good one. I really like the over-lapping security levels that he has. Any of them can fail but it is VERY unlikely that all of them would fail at the same time. He has great protection of his stash and is also providing a fine example for others to follow. I use a safe in our basement for about 1/3 of my stash. Another 1/3 is in my son's safe. Both safes are strongly secured to the floor and the wall. I consider my silver as "the family hoard", so if bad times come and he needs some of that to provide for himself and his wife, I have no problem with that. He understands that it is to be disturbed for NO other reason unless we talk about it first. The final 1/3 is in a safety deposit box at the local credit union. They have a good dual-key box system that is in a vault with 24/7 audio / video surveillance. I know that my storage system is not fool-proof but it is what I can do at the moment. Diversification is a great tool for investors and I am using that in terms of my silver storage locations. Yes, I could lose part of it but the odds of me losing all of it are VERY small. |
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Pillar of the Community
United States
667 Posts |
Personally I have 15 different locations, diversification is important in most everything. The real issue there is not enough room in just a few locations.
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Valued Member
United States
100 Posts |
I can't wait until I have your problem mkfarm! Seeing as I only just started, I don't - yet. I will split up my hoard though once it finally becomes a hoard! Earl
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Previously Banned Member
107 Posts |
Silver coins should be kept in airtight containers while they are being stored. This will prevent damage from exposure to air or humidity. However, not all so called "air tight" containers are air tight. Buy ony quality coin capsules/containers. Ask a qualified coin dealer for a recommendation, Place the encapsuled coins in a box with extra silica dessicant or invest in a box lined with anti-corrosion material.
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Pillar of the Community
United States
830 Posts |
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Pillar of the Community
United States
4008 Posts |
Quote:
Personally I have 15 different locations, diversification is important in most everything. The real issue there is not enough room in just a few locations. Yeah, MK, just don't go getting all fuzzy-headed when you get a little older. Would drive your family nuts digging all those holes while looking for "Dad's silver hoard"!  |
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Replies: 27 / Views: 3,541 |
Posted 01/30/2012 10:42 am
