If you are reading SilverDoctors.com, we would assume you have at least a percentage (high?!) of your assets in physical silver. Which leads to the question, where do I store all this silver? BullRun has come up with some clever ideas on storage that he’d like to share.
I have come across a variety of different methods in going about hiding silver. You have those who put all their physical holdings in one area, such as a safe. Then you have other individuals who use the treasure map (Amazing Race or the movie National Treasure) philosophy. It takes them 5+ hours to locate their own stash in their own house. They locate one hiding location and then have to solve some clue left on a note to remember where the next hiding location is! You also have individuals who store silver in safety deposit boxes (why?!). Lastly, some people chose to store physical silver in 401k accounts and off-site storing facilities.A Quick Run-Down of Unusual Hiding Locations we have come across:
1. Putting in an outdoor shed? Bury the metal below the foundation. (Real Long Term Storage here)
2. Taking the bottom out of shaving bottles and putting in the shower (not sure if this would fall under the friendly environmental condition standards!)
3. Behind the insulation in the attic (doesn’t sound like too bad of an idea)
4. PVC pipe w capped ends followed by some “midnight gardening”
5. Hide it in empty paint cans
List your ideas in the comment section below!
Let’s take a look at the first philosophy of hiding it in one place. This would include a safe bolted to concrete, wall safes, false cupboards, etc. The benefits of using the “one place” approach is just that, everything is in one place. Easily accessible, convenient, and it can be made very secure. A fireproof gun safe could hold large amounts of physical metal and also be put in a location of relatively constant, moderate temperature, low humidity. Environmental factors are important in minimizing silver from tarnishing. Just make sure the foundation where you put all your silver on can hold its tremendous weight. A home security system can be arranged to specifically protect the one area of interest.
Now let’s take a look at the treasure map philosophy. While it is time consuming to set-up and find multiple hiding spots in your house, it has some intriguing benefits. People who use the treasure map philosophy point out that the average burglary last 5-7 minutes. Thus, if it takes them 5+ hours to find their own physical metal stash, how much could the burglar actually take in 5-7 minutes? The downside is that whenever you decide to take inventory, you will have to schedule an entire day to account for all your hiding spots. Additionally, multiple hiding spots may be more difficult to maintain friendly environmental conditions for silver.
Now let’s look at Safety Deposit boxes………Alright, moving on.
Finally, off-site storage. With some thorough research, this option may hold validity for individuals purchasing large amounts of physical metal. One company I have looked into who seems to run a decent business is BullionVault. They give you a gram of Gold for just clicking the banner below. I received a gram myself for signing up, but I haven’t done anything with it to date.
The other intriguing option Bullion Vault has it that you can choose to store your physical metal in New York, London, or Zurich.
How do you choose to store your physical holdings? I am interested in hearing of everyone else’s Unusual Hiding Places. List them in the comment section below!
