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Author Topic: What is the best method to store gold/silver/precious metals/jewels/etc  (Read 799 times)
Hydrogen
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August 23, 2017, 09:00:09 PM
 #1

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

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August 23, 2017, 09:19:02 PM
 #2

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.
The reason why one's money usually gets confiscated is because he doesn't pay his tax or he is a criminal.
One way in which crypto is better than gold and silver is intangiblitiy, that is you don't need to have a special big safes for storing crypto.  Another thing is that you don't want your gold confiscated, the government will surely not confiscate your crypto,so here you don't have to worry.
But if you want to go for gold/silver ,go for it and secure it in a locker of your own or of that of a bank and you pay the taxes, then you don't have to worry about your gold being confiscated.

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August 23, 2017, 10:12:07 PM
 #3

Store them in your house in a discreet area like a crawlspace and get a decent safe which cannot be easily removed and they will be quite safe.


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August 23, 2017, 10:27:53 PM
 #4

Why do you say confiscation of PM by law enforcement is
on the rise?  I haven't read anything.  You talking about in a
specific country?

I have mostly silver, of the junk 90% variety, so storage isn't an
issue as far as keeping the coins from toning.  I don't do anything
special for security.  If you have a lot, may I suggest using a
decoy safe or a container that doesn't look like it should hold
anything valuable.  It's either a safe or in a safe deposit box,
and for that you have to trust banks.  I do not.
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August 23, 2017, 10:48:16 PM
 #5

Why do you say confiscation of PM by law enforcement is
on the rise?  I haven't read anything.  You talking about in a
specific country?

The idea of police confiscations being on the rise comes from statistics over the last few years like this.



https://www.washingtonpost.com/news/wonk/wp/2015/11/23/cops-took-more-stuff-from-people-than-burglars-did-last-year/

This is only confirmed in the united states (sorry can't say I keep up with everything happening in foreign countries) although the impression I get is this is happening everywhere.

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August 23, 2017, 10:58:45 PM
 #6

OK, well I'd say if you don't have any victims to pay then you're
probably safe from the feds. 

You could also bury it.  I saw a video of a guy burying a hoard of
nickels in some PVC pipes back when the melt value was over
$0.10 per nickel.  Thieves probably wouldn't find something like
that but law enforcement might. 
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August 24, 2017, 03:30:39 AM
 #7

Some banks would accept that and give you a safe for it. It is one of the good ways because banks have high level of security that you do not have in normal household.
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August 24, 2017, 03:39:03 AM
 #8

I didn't realize that confiscation was on the rise.  I would say with that knowledge, then maybe stay away from gold or silver.  I'm assuming your not breaking any laws of course, but sometimes it doesn't matter.  They may find ways to take it without justification.  Real estate would be better.  At least if they take that, it can be proven that it is yours.

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August 24, 2017, 10:37:44 AM
 #9

I think the best method that i know for storing precious things like that is to just have a secured vault in your house and also build a high security for your house by hiring professional people that can help you because if you are storing those things then you need to secure your whole house first by having cctvs and also alarms that can help you for more security and also the vault which you will put all the things that is very important.

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August 24, 2017, 12:16:20 PM
 #10

I think that a modern protective safe for the house or a bank cell in the bank is very suitable for storing jewelry. But there will still be risks if someone becomes interested in your jewelry and wants to kidnap them.

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August 24, 2017, 01:16:51 PM
 #11

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.
The reason why one's money usually gets confiscated is because he doesn't pay his tax or he is a criminal.
That's not true, it can also get confiscated if you are just suspected of committing a crime, at least in the US.
And you usually don't see that money back again, even if you weren't doing anything illegal.

There are enough proven stories of people driving with, say, 10k in their car to pay for something in cash, getting pulled over and have their money confiscated because police 'thought' it was drug money.
They don't see their money back.


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August 24, 2017, 02:30:45 PM
 #12

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.
The best way is to store them somewhere thoroughly with secure systems. Or they can be sold out for cash and then put into the bank. Want to risk getting rich can use them all to buy bitcoin.

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August 27, 2017, 12:44:03 AM
 #13

Not necessarily the best option per se, but an option nonetheless if you choose to invest in gold, is to buy up some golf-based ETFs. They can literally invest in gold bullion, so that you have gold in a vault somewhere but you dont have to manage the gold in the vault on your own.

I think that these funds consider things like insurance, storage (obviously) and other administrative elements like that.

Here is a link through the website Investopedia: http://www.investopedia.com/articles/etfs/top-gold-etfs/

None of this is meant to be investment advice.

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August 27, 2017, 01:28:17 AM
 #14

I know some of the regular posters in this section are pro gold.

Probably one of the biggest obstacles to people investing is gold is not knowing where or how to store it to ensure safety.

What is the best method of storing gold/silver? Would you recommend keeping it in a personal safe? A safety deposit box at a bank? Burying it in the ground somewhere late at night where no one will ever find it pirate style?

Also what insurance options are there? Do banks insure safety deposit boxes past $100k?

Law enforcement confiscating money/precious items seems to be on the rise. Are there any tips for avoiding having gold/silver confiscated?

I would be interested to hear thoughts on this as it could represent one area where gold/silver might be considered less preferable to crypto.

I think if gold is really yours and have a certificate on your behalf it's good you keep gold, silver or the other with your brother who can be believed that the life of his economy is normal so that the government does not suspect it. And my suggestion in heap in his house you and he alone know.

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August 27, 2017, 02:43:55 AM
 #15

A personal safe for me is the best because you get to easily access your jewelry anytime you want without restrictions or limitations. Secondly I think if you prioritize security over accessibility then keeping them in a bank is better.  The bank safe cab store them up for you but you can only access them at the times the bank open.



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dealung
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August 27, 2017, 06:32:32 AM
 #16

In my village before it developed into a city, the average person keeps his gold and silver just like you say like the pirate style that is burying him. Because the old days the police are still few and can be counted on the fingers, so to avoid robbers, people here buried it in the ground.
But now the times are different, more advanced and modern. People keep gold and silver in fireproof safes, there is also a store in the safety deposit box at a bank. Do not be afraid of being confiscated if the proceeds of our assets are from work that is true or legal or unlawful. Which is important your assets have evidence, such as certificates or valid sale and purchase documents.

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August 27, 2017, 11:41:36 AM
 #17

I think that in a personal safe it is still more reliable to store certain values than to bury them somewhere as a treasure, to store in a banking cell or to keep for example electronic gold.

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August 27, 2017, 11:59:46 AM
 #18

If you don't have problems with trusting your bank, there probably will be a way to buy gold electronically. You get the benefits of price rise and don't have the hassles of ensuring its safety. That is probably your best bet.

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August 27, 2017, 02:34:17 PM
 #19

In my country government has launched Gold scheme and pay interest if individuals deposit gold with government and interest is again redeemable in gold.
I think it is as far best way to hold gold. There is no fun holding gold bars in home as it will only attract burglary and problems.

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August 27, 2017, 05:58:25 PM
 #20

Store them in your house in a discreet area like a crawlspace and get a decent safe which cannot be easily removed and they will be quite safe.
well I am not so much agree with your thoughts because it is not safe to keep things like gold and the silver at home because it can cause some danger for your life so it is better to keep your gold and the silver and the money in bank locker because if you will keep it at h0ome maybe some thief can attack you for your wealth like gold but it is more safer to sell your gold and buy bitcoins it will be easy to keep your money save and it will earn you a lot of profit as well so from my side good luck to you.

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