Storing your Silver SafelySubmitted by RogueBeekeeper on Sun, 08/31/2014 - 17:31
Buying silver is something that a lot of people that read this site do so I figured it was about time for a post full of tips, ideas, and advice on how to store your precious metals.
Silver is a hedge against instability but like any physical hedge it could be stolen by thieves, confiscated in a no-knock-raid, or potentially taken by a bank during a bail-in.
There may not be anywhere that your silver is 100% safe so to minimize risk it is important to try and have multiple locations. Even under the worst case scenario you won't lose all of your stashes. Silver that you plan on saving for a longer period of time can be stored in more isolated places.
One way to reduce the risk of theft is to limit the number of people that know you have metals in the first place. People that intend to steal from you are very interested in what kind of goods you may have. This is also true with food storage or anything else. Avoid having any digital record of how much precious metals you own. One way to do this is to buy silver with cash in quantities low enough to avoid any paper trail. Not to sound too paranoid but if there ever were laws implemented against ownership of precious metals then a digital list written by you of your total assets could be very damning. This has happened in America before but they didn't have the resources then to even dream of tracking people let alone thousands of S.W.A.T teams. You may want to let at least one very trusted person like a spouse or family member know where each location is or where a paper map indicating each location is. This is in case of accidental death. Your will for example could include such a thing.
Here is a list of some possible locations as well as their merits. People that live in apartments or rent may have more limited options.
1. Bury it. Just like the pirates. You can seal a mason jar full of rounds and put it 5 feet down into the earth with a post-digger. No one is going to dig up your yard looking for it unless you show/tell them where it is. Try to make sure whatever container you use it waterproof. If you have a lot of land then having multiple buried food stashes as well is a nice insurance.
2. Build a secret compartment into your home somewhere. If you have a basement you can make a compartment in the ceiling or in the walls for long term storage. There are stories of people finding vast amounts of hidden wealth in their homes from decades ago by individuals that chose this route. Be creative.
3. A large vault in the garage isn't a bad place to keep a smaller amount. A thief could not easily move it if it is bolted down. The only danger here is if the police arrive with a warrant for something else and force you to open it. There are many states where police are allowed to pocket cash and metals if found during a drug warrant. Having some metals in the vault may placate them from searching deeper though.
4. A safe deposit box at a credit union is more safe than a home vault but it does come with a monthly fee. Police very rarely are able to get warrants to search these boxes, it is difficult to even know off-hand if you have one for local law enforcement. You may even open one in a nearby town. The biggest risk here is some sort of confiscation due to bank failure (such as a Cyprus style bail-in but it seems a but less likely.)I would consider putting a fifth of my metals in such a place.
5. The home of a family member. Maybe grandma, your brother, or parent wouldn't mind you storing your silver in their vault or storage room. Anywhere a thief isn't likely to look. I have family members that seem pretty intent on dying in their homes and there are plenty of creative places on their property. Just ask permission and clearly label it as yours. This is also a good idea for food storage. The further they are from the city the better. You can even have multiple spots at different homes or at the same home in different areas. In the country hiding spots are as numerous as your imagination.
6. Try the attic. Some people live their whole lives in a home without ever so much as looking at their gross attic. Try reinforcing the drywall with some plywood (in case of an earthquake you don't want 20 pounds of silver falling from the ceiling) and covering the silver with insulation. The furthest most annoying corner is a great place or even underneath a board you nail on top of it (then store stuff on that board).
7. In some homes underneath the foundation is the best place. A S.W.A.T team or a thief would never think to look there, especially if it is just a crawl space. The dirt is dry there too so burying a large amount is a bit easier without making a mess in your yard or without drawing suspicion from your neighbors.
8. Some folks like to hide gold and silver in the woods. Be careful with this one. If there is a spot that you are 100% sure is safe from fires or a lucky hunter... curious child then make sure that you can get to it later. If it is your own property then all the power to you.
9. Empty septic tank. Also great for water or food storage.
10. A small amount could be hidden in electrical boxes.
I hope that you find this information useful. If you have other ideas on safe places be sure to put it in the comments.