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Be Careful Who You Tell About Your Stash.

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Author Previous TopicReplies: 12 / Views: 1,740Next Topic  
Pillar of the Community
Steele's Avatar
United States
1119 Posts
 Posted 12/01/2012  8:53 pm Show Profile   Bookmark this topic Add Steele to your friends list Get a Link to this Message Number of Subscribers
11.5 million in gold stolen in South America.
http://news.msn.com/world/curacao-p...m-gold-heist
Valued Member
Jerry_B's Avatar
Canada
453 Posts
 Posted 12/01/2012  9:13 pm  Show Profile   Bookmark this reply Add Jerry_B to your friends list Get a Link to this Reply
Using a fishing vessel to transport $11M?
No armed guards?
Something very fishy, here.
Pillar of the Community
Dave H's Avatar
United States
1436 Posts
 Posted 12/01/2012  9:19 pm  Show Profile   Bookmark this reply Add Dave H to your friends list Get a Link to this Reply
I agree... Sounds like it was a set up
Bedrock of the Community
basebal21's Avatar
13014 Posts
 Posted 12/01/2012  9:34 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Sounds a lot like an inside job
Pillar of the Community
Fat Freddy's Avatar
United States
1200 Posts
 Posted 12/02/2012  12:33 am  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
Don't just merely "be careful who you tell about your stash..." Best to keep it 100% to yourself.

There was an incident in Buffalo, NY in 1973 - WAY back before the world turned into the nasty place it is today. Two robbers hit a home where they'd been told there was a valuable coin/stamp collection and that the owners were away on vacation. While they were in the home, the owners came back. They beat the owners with a hammer until they got the location of the valuables and then shot them dead. A neighbor heard the noise, came over to see what the trouble was, and they killed him as well. I knew people involved in this incident.

That was months less than 4 decades ago, and the world is a far harsher, more dangerous place now than it was then. If you live in Mayberry RFD right next door to Aunt Bea, Sheriff Andy and Deputy Barney, allowing your stash to be public info these days is downright dangerous. Anywhere else, it's flat out suicidal.

If you've already let your stash become public info, that's not good. If I were you, I'd do something drastic like get it into a bank safe deposit box or something. What's at risk here is your family's safety. The stash itself (monetary value notwithstanding) is actually of comparatively little value and the best safe in the world is useless when the lives of loved ones hang in the balance.

I always find it curious when people get all outraged, twisted up and bent out of shape about the tragedy of some silly coins being stolen. What gets me twisted is when innocent people get beaten, stabbed or shot and sometimes killed because a robbery went wrong. And -- that does happen...
Pillar of the Community
austrokiwi's Avatar
2087 Posts
 Posted 12/02/2012  06:18 am  Show Profile   Bookmark this reply Add austrokiwi to your friends list Get a Link to this Reply
I have two Safety deposit boxes in different countries ( which is a pain. I understand there is a risk in the US with Safety deposit boxes in the US: some states "confiscate" the contents of so called forgotten boxes after quite a short period of time. One of my boxes I only access once every two years the other once every 6 months.
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Tim Stroud's Avatar
United States
2661 Posts
 Posted 12/02/2012  06:45 am  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply

Quote:
I understand there is a risk in the US with Safety deposit boxes in the US: some states "confiscate" the contents of so called forgotten boxes after quite a short period of time.


This is true. The secret is to have a bank that offers free boxes as long as you keep at least $XXX in your account. This way the box is tied directly to your account and if the account is closed, the person closing the account is notified to remove the contents immediately. MY heirs know the locations and contents of my boxes as well as the value and they also know who gets what upon my passing. I have also made it know to those outside of family that 95% of my PM stack is tucked away in these boxes and with 20 years military service under my belt that I would have no problem exercising my 2nd amendment rights guaranteed to me by the Constitution of the United States of America and recently passed laws in my home state.

Valued Member
blackjack's Avatar
United States
386 Posts
 Posted 12/02/2012  11:16 am  Show Profile   Bookmark this reply Add blackjack to your friends list Get a Link to this Reply
About safe-deposit boxes: I have two cautionary tales.
1. Last year, I went to my safe deposit box and found that my key no longer worked. I went to the bank manager. Turns out that he was inventorying the list of box owners and--he claimed--he had no listing for mine, though I'd had it for over ten years. So, he had removed my box and was simply hoping the owner would eventually come to him!
NOw it turns out that a piece of my wife's jewelry was missing....After going over his head, we were reimbursed for it, though my wife was devastated, since it was a gift from Italy when she was a baby, and the personal letter that accompanied it was also forever lost.
2. Yes, the government will invade your privacy and your possessions if you owe taxes. I was present when they had a locksmith drill into and open someone's box. The contents were confiscated, though no one other than the agents had to attest to what was found and what was taken!
Pillar of the Community
Ed_B's Avatar
United States
4008 Posts
 Posted 12/04/2012  5:58 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
I have two Safety deposit boxes in different countries...

I understand the diversification of location aspect of this but... doesn't keeping your wealth in 2 countries just subject you to the rules, regs, and idiosyncrasies of BOTH countries rather than just one?

I have read quite a few articles wherein the authors say that putting gold in various countries offers protection against any one country grabbing it during a financial emergency situation. This seems to be off-set by the fact that it could also become very difficult to travel outside and perhaps even inside your own country during a time of economic collapse. You could have a lot of wealth in gold but not be able to get to it.
Pillar of the Community
austrokiwi's Avatar
2087 Posts
 Posted 12/06/2012  06:09 am  Show Profile   Bookmark this reply Add austrokiwi to your friends list Get a Link to this Reply

Quote:
I understand the diversification of location aspect of this but... doesn't keeping your wealth in 2 countries just subject you to the rules, regs, and idiosyncrasies of BOTH countries rather than just one?



Neither country has capital gains tax.
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vermontensium's Avatar
United States
16679 Posts
 Posted 12/06/2012  11:46 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I've had my SDB for 6 years now. I've had no problems, yet.
swcoin.ecrater.com
Pillar of the Community
fistfulladirt's Avatar
United States
4333 Posts
 Posted 12/06/2012  1:39 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
No problems here yet either, it's in SDB because a home safe contents normally won't withstand fire, and I'm more concerened with that than theft.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Pillar of the Community
Ed_B's Avatar
United States
4008 Posts
 Posted 12/07/2012  6:37 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
Neither country has capital gains tax.

OK, that is an advantage but are there other disadvantages due to differing laws in multiple countries?
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