Title: How To Store Silver Bars & Coins At Home - Mike Maloney Source:
[None] URL Source:https://www.youtube.com/watch?v=SXFLZub7DaU Published:Apr 4, 2017 Author:GoldSilver (w/ Mike Maloney) Post Date:2019-04-03 06:40:30 by BTP Holdings Keywords:None Views:739 Comments:5
There are lots of reasons to buy silver—it’s a real asset, the coins are beautiful, it will likely outperform gold, and it’s more affordable. But that affordability comes with a catch. Once you start to accumulate, you quickly realize that silver requires a lot more storage space than gold. It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those hiding places are impractical for the same dollar amount of silver. So how do we store our silver bullion both efficiently and safely? And should it be stored at home anyway? This article has some potential solutions for those investors that are stacking silver…
Storing Silver Bullion at Home
Everyone should keep some silver (and gold) in a place that is easily and immediately accessible. One advantage bullion offers is its high liquidity in a period of crisis—no worries about bank closures, lack of access to funds, or internet problems. So, if you have some bullion close by, you have the ability to fight through a crisis. On the other hand, if your silver is two days away or time-consuming to get to, its use as an emergency asset has diminished.
As Mike Maloney pointed out in his book, Guide to Investing in Gold and Silver, “I believe everyone should have gold and silver in his or her own private possession, where you can lay your hands on it, because they are one of the few financial assets that can be completely private and not part of the financial system.”
This doesn’t necessarily mean you should keep it inside your house. It means you want some of it readily accessible in an emergency, whether that emergency be a personal one or on a national scale.
If the cost of about $400 per year, rent a 5'x10' self-storage unit is not too great. There are 50,000 self-storage locations in the USA and many don't require identification to rent. They are almost never broken into because (1) there is video coverage making the risk too great and (2) old furniture is not worth stealing.
As an added insurance put you valuable in the back and fill it up with worthless sofas, mattresses, etc., that you can get for free. Of course your gold and silver is safe only if no one knows about it.
If you have 16" of fluffy blown in insulation in the attic, place a sheet of plywood over the joists some distance from the ceiling access, place the silver or gold up to 6" high on the plywood and cover with the insulation. Unless they know you own gold or silver, home burglars might look in the attic and shine a flashlight, but if they don't see anything, it is unlikely they would risk falling the ceiling and crawl and look through all that insulation. Also, even if they have a metal detector, they probably will check the floor and possibly the walls, but it is unlikely they would be checking the ceiling.