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 Replies: 41 / Views: 4,533 |
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Valued Member
175 Posts |
I was just wondering how you guys storage your coins, silver, and gold.
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Pillar of the Community
United States
830 Posts |
IMHO that is the main draw back to owning physical PMs. As I see it you mainly need to protect against theft, fire, and corrosion. Which of those do you need help with?
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Valued Member
 175 Posts |
Probably just theft but anything can happen so probably all 3.
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Pillar of the Community
United States
3670 Posts |
Fireproof safe mounted down somewhere hidden, with something like worthless gold clad Buffalo's or other fake coins perhaps in a dummy safe out in the open is some folks plan....
Real warn out and discolored fruit of the loom underwear seems to be another strategy. Trap door in cloth pamper on same lines....
Crooks have a limited amount of time, and are looking for quick grab fast value. Unless you are out of town, and they roll in looking like a moving crew going about their everyday bus which could be a real problem....
Banks or safety boxes is an option, but I don't like it personally, as I trust me more than anyone else. What if a war breaks out, or a natural disaster, economy collapse and Marshall law to follow? Any number of things could keep one from getting to that stash when you need it most....
Many dogs never hurts, and I have four. Barking out any window they can get access to, at anyone within the property line....
Worst mistake of all, running ones mouth about what you have, especially around people who could bring you harm later. If no one knows you have it or your bus other than most trusted family and friends (and them knowing is a big if), less likely you are to get targeted. Even your closest friends could accidentally mention it in wrong company....
Edited by Silverhawk74
06/28/2011 12:48 am
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Bedrock of the Community
Australia
21788 Posts |
If you are accumulating platinum, fire is not your worry; it is a refractory metal, with a melting point of over 3200 deg. F.
If a fire destroys your home or bank, just search through the remains, your patience should be rewarded!
Edited by sel_69l
06/28/2011 09:06 am
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Pillar of the Community
United States
830 Posts |
Its not so much the melting point of the metal in the coin but the melting point of the container surrounding the coin. If you have the coins in plastic expect a big burnt mess of black plastic coated coins. Plus a lot of fire safes have only 30 minutes of protection below about 400 F. Every coin I have is removed from plastic (except for couple of slabbed coins I have). Also keep in mind if there is a big Black Swan event the fire may be wide spread and the fire response may be slow or non-existent. I like the smallest Ball wide mouth canning jars lined with silver cloth and a half strip of 3M anti-tarnish strip in each jar. 20 ASE or Morgans will easily fit in one jar. I like big safes or floor safes, the latter being extra protection against fire. If you are young and not settled into a home, a bank safety deposit box would be good because big safes are hard to move and expensive. The draw back, as noted earlier, access can be limited to the banks hours and during a Black Swan event who knows what those hours would be. It could be a long wait. In that case spreading stashes around in multiple locations may be a good thing.    Another nice thing about the Ball canning jars is you can use a food saver adapter to vacuum seal the jars (note: with the food saver device you still use the normal metal canning lid) All my jars are vacuum sealed.  Edited by GoThunder
06/28/2011 11:23 am
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Valued Member
United States
81 Posts |
I have 2 fire rated safes in different locations of my house. I use silica-gel packs in all my 2x2 boxes. and I seal-a-meal all my Silver sets. Hope this helps you. I also have silica-gel loose in the safes
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Pillar of the Community
United States
830 Posts |
Keeping silver dry with descant is good, but the real tarnish producer is hydrogen sulfide. The 3M strips absorb hydrogen sulfide. The silver cloth acts like a sacrificial anode. Of course if you like toning don't use these things. Edited by GoThunder
06/28/2011 11:35 am
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Valued Member
United States
374 Posts |
sdb for me and 90% of my collection.At the slightest hint of a war, bank meltdown etc. I would empty out sdb buy a wellsfargo gun safe and bolt it to the floor. But if a theif wants your coins bad enough he will just force you to open your safe at gunpoint. The best def like someone stated is to not tell anyone about your valuables.
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Valued Member
United States
370 Posts |
I have a small fire safe right now, would like something a bit bigger though.
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Valued Member
175 Posts |
I like the idea of having a decoy safe and then having my real stash hidden somewhere else. I dont really want to keep my stuff in a bank. I bought this little coin storage box off ebay for 4 dollars but it isn't much. Its small enough that I could find a nice stash spot to put it seeings that my collection isn't real big yet but when it grows I'm gonna need something more permanent for sure. |
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Pillar of the Community
United States
4008 Posts |
Quote:
but the real tarnish producer is hydrogen sulfide Fortunately, H2S is a seldom encountered problem... unless you happen to live near a live volcano or an open sewer. It is also highly toxic to mammals and best avoided for that reason. My preference would be a strongly bolted down safe in a nondescript part of the house, preferably in the basement, for the silver stash and a SDB for the gold coins. Remember, though, that different states have different laws regarding who can open a SDB should the person renting it pass away. Married couples can use the joint tenancy with right of survivorship (JTWROS) form of ownership which allows the survivor to get into the box with no difficulty. Without this, the bank may be required by state law to seal the box until the estate's executor can open and inventory the contents of the SDB for the probate court. If there is no executor, then the probate court will appoint one. |
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Pillar of the Community
United States
830 Posts |
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open sewer Some have used that as a stash place before lol. |
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Pillar of the Community
United States
4008 Posts |
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Some have used that as a stash place before lol. Indeed they have! Gives new meaning to the term "filthy lucre".  They better use the vacuum pack technique for that.  |
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Pillar of the Community
United States
4008 Posts |
Speaking of storage... Just got a safe today. Bought it at Lowes. My son helped me pick it up and he even got a 10% military discount on it. That brought the price down to $357. Also good was that there was no sales tax on it, even though I live in a state that has a sales tax. Guess that they want to encourage people to buy gun safes, which is fine with me! It's not installed yet, so doesn't have anything in it now. Will do the install next week. Here's a couple of pics:   Since I have no long guns to put in there, I will set it up with as many shelves as I can for smaller items. While this safe looks pretty sturdy, it is only part of the security measures I will have. It will be bolted to both the concrete floor and to the studs in the wall behind it. Will also work on some kind of concealment as well. An alarm system and a noisy dog would be good too but I'll have to see what can be arranged. I'm not fooling myself into thinking that the stuff I have can't be taken but am doing all I can to make that as difficult and as time consuming as possible. That usually discourages the usual crooks. The pros will get whatever they want but not advertising what we have should help there. Will have to see what the insurance boys and girls have to say about riders and such. Might even be able to get some discount for various items protected by the safe. That would be good but who knows if they will do that? |
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Pillar of the Community
United States
830 Posts |
Yeah that should slow them down  A dog can be a great deterrent too. |
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Replies: 41 / Views: 4,533 |
Posted 06/27/2011 10:24 pm
