Participate in the discussion on storing gold and silverSubmitted by Ed Thinking on Tue, 11/27/2012 - 10:29
Saw it today on Fatwallet: http://www.fatwallet.com/forums/finance/1238519/
"So, trying to avoid wall of text... Have a relative of modest means, owns own house, stable job. Liquidated their retirement 401K and bought gold and silver. I have a built-in safe in my house, this relative has been sending me their retirement savings to store. At first, it was just a couple of coins so I figured it was no big deal, but they have sent their entire coinage to me which is sitting in the safe.
I must add that this is a relative of my wife, which limits my options somewhat. As I see it, I can get a rider for my homeowners insurance to cover the coins and write the cost of it off as a christmas present to this relative. Or, I could tell this person to take the coins back and put them in a safe deposit box in their city, which would make more sense to me, but again, it is a relative of my wife which limits my options. Or, I could be clear that if the safe is stolen/whatever then this relative is SOL on the coins. Or, I could plan on keeping all the shiny metal if there is a zombie invasion.
Don't get me started on liquidating your retirement for shiny coins. I don't even think I can have that conversation. Was happy to put a couple of coins in the safe, but this has gotten a bit out of hand."
Read the comments, here is the American press educated folk, it would be good for some of you to put your two cents on the discussion...