Silver bullion storage, safety deposit box?

sabretoothtigger

I believe most insurance excludes marxist revolution and coup d'!tat

Does the Australian Perth Mint sell silver certificates, buy them instead

http://www.perthmint.com.au/investment_invest_in_gold_precious_metals.aspx

ManAtHome

SilverStandard wrote: »

My home safe is full and want other ideas.

Buy another safe?

RDB

sabretoothtigger wrote: »

I believe most insurance excludes marxist revolution and coup d'!tat

Does the Australian Perth Mint sell silver certificates, buy them instead

http://www.perthmint.com.au/investment_invest_in_gold_precious_metals.aspx

Do you trust these people selling paper certificates that they actually have the silver equil to the paper they issued?
If the ETFs do have the same amount of silver as the paper they issued then they own about a 3rd of the silver known to exist on Earth. If they dont own they dont they are going to have a hard time geting hold of it as its getting more rare.

Far better to take possesion of real bullion and store in a decent home safe.

ed123_2

....I would bury it in the garden

Sceptic001

RDB wrote: »

Do you trust these people selling paper certificates that they actually have the silver equil to the paper they issued?
If the ETFs do have the same amount of silver as the paper they issued then they own about a 3rd of the silver known to exist on Earth. If they dont own they dont they are going to have a hard time geting hold of it as its getting more rare.

Far better to take possesion of real bullion and store in a decent home safe.

The Perth Mint is wholly owned by the Government of Western Australia, which seems to be one of the most financially prudent governments in the world (not that that in itself is a recommendation!). It looks fairly safe to me. Has anyone here had any dealings with them?

hallmark

Does anyone know roughly how much it's likely to add to the cost of home insurance if you bought gold coins & stored them at home. Not huge amounts, maybe £10K worth of sovs/silver etc?

Also, does anyone know what it would cost to rent a safe deposit box or whatever they're called from a bank in order to store that amount?

Just wondering if either are actually feasible or if they're both so expensive that they actually make pm a no-go an investment simple because of the amount you lose each year insuring or storing it?

many thanks

sabretoothtigger

Do you trust these people selling paper certificates that they actually have the silver equil to the paper they issued?

When the depositary also owns the mine then yea, I trust them to sell me that. JP morgan might deal just in paper but these guys have to shift the real stuff, I'd rate owning a mine or dealing with the mine as mutually beneficial

shaun_from_Africa

Also, does anyone know what it would cost to rent a safe deposit box or whatever they're called from a bank in order to store that amount?

I have a box stored (a lockable steel box about 15" X 10" X 8") in the vault of my local Nat West bank and they charge £44.04 per year. There is also a fee of about £7 every time you want access to it (but I've added stuff to my box 3 times and they've never charged me).

It's not a safe deposit box as such, but it's as it's stored in the vault it should be secure.
Nat West do offer insurance but this worked out very expensive, but I found a specialist insurance agent who provides cover for £1.25 per £1000. (cover only provided whilst items in bank)

http://www.wardrop.co.uk/

hallmark

Interesting. I rang an insurance broker & adding £10K of gold/silver to a standard insurance policy is something like £200/year apparently.

SilverStandard

All these ideas sound great but surely its better to keep you precious metal investing private so no one knows you have it.

If you take possession of it yourself (from somewhere that doesnt store your details) and secure it yourself it is 100% private. There is no paper trail.

You can also sell it privately its no one else's business its private.

Thats the trouble with storing it in a safe deposit box or insuring it. Its not private any more plus you have ongoing costs. The top of this bull market could be years away yet.

When it comes to paper investments like the Perth Mint, buying shares in mines etc, for the same reasons I would prefer to buy the real precious metal.