Safe deposit box

[Humboldt]

Curious how many of you use them.
I have a few other things I could throw into one, but am considering putting my silver there (short of the stuff I want to see on a daily basis).

One of my bank accounts offers a free box so I figure, why not?
I live in what's rapidly becoming a high-crime area, both of my immediate neighbors have been robbed, and I work 45 hours per week on a set schedule.

 

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[Patrick Star]

I keep my silver in my parents safe in the house but I am saving up for my own, but yes u should get a safety deposit box since u live in an area like that because thugs and crooks can just run off with a safe.

 

[Humboldt]

I keep my silver in my parents safe in the house but I am saving up for my own, but yes u should get a safety deposit box since u live in an area like that because thugs and crooks can just run off with a safe.

I think you're right.

I live in the country with chickens and horses and emus in the pastures near me. Rampant meth use and lots of local horticulture, along with current CA procedure of arresting and releasing anyone who doesn't commit an act of violence, have led to a massive spike in crime in this county. Anything not nailed down will be stolen. High schools are having their athletic field lighting stripped for the copper, remote towns have had their water tanks drained, home invasions are becoming more common.

So yes, I think it's a good idea.

 

[Styfflin]

I live in the country with chickens and horses and emus in the pastures near me. ...home invasions are becoming more common.

If you live in the country, you have a lot more options towards hiding and protecting your stash than someone in the city. This is one of the many things I'm looking forward to when I move back to the country.

 

[Beachkid23]

I have has one for 5 years. I like the though that its somewhere safe (gold) I do have some silver at home though. I find if I keep it at home, ill want to sell it. So put away is good!

 

[Humboldt]

If you live in the country, you have a lot more options towards hiding and protecting your stash than someone in the city. This is one of the many things I'm looking forward to when I move back to the country.

Stashing does have its merits.
Close at hand, no hours open/closed.
My responsibility and no one else's.

I live on 2 acres with a house, carport, and 2 outbuildings. Lots of places to stash with ammo boxes, jars.

But then there's corrosion and memory to factor in.

Storing Silver: The Best (and Worst) Places

 

[ArkieBassMan]

All storing options have pros and cons. They have been discussed at length a few times on this forum. Some very good arguments were made on each option.

After weighing all of them, I went with safety deposit boxes for my stash. I personally think risk of fire/robbery is much greater than total economic shutdown (which could lead to closing of banks and not being able to get to your stash).

 

[TheRingFinder]

I use a SDB - Safe & cheap............

 

[fistfulladirt]

Don't keep all your eggs in one basket.

 

[gunsil]

I don't think items in safe deposit boxes are insured by the banks. Although rare, sometimes burglars do get into bank safe deposit vaults. I have a large gun safe and it would be very hard for even a team of three people to steal it. It is hidden from sight and few know it's existence. I guess I'd rather have my goodies relatively safe yet accessible whenever I want than relatively safe where I can't get at them whenever I wish.

 

[fistfulladirt]

Safe deposit boxes are not insured by the bank. I looked into insurance through my agent, what a complicated mess involving professional appraisal, separate rider, blah-blah...shoot, I'm looking into having my cash savings insured too. OTOH, theres always the FDIC...

 

[Iamrussell]

I don't trust safe deposit boxes- mainly cause I don't trust banks- what happens when shtf and its all of a sudden and they don't open the banks- or if you have an emergency during non-bank hours?
Na ill keep my stash close by

-------------------------------------
just keep stacking, just keep stacking, stacking stacking stacking

 

[Styfflin]

I don't trust safe deposit boxes- mainly cause I don't trust banks- what happens when shtf and its all of a sudden and they don't open the banks- or if you have an emergency during non-bank hours?
Na ill keep my stash close by

I couldn't agree more. If you have the means to store and secure your own treasure, do it. If you don't have the means, consider the alternative's downfalls and then store and secure your own treasure. Take ownership of your life!
You want to see what happens when you trust others to store your treasure on a much grander scale? Germany put their trust in the United States to store their gold reserves when they were concerned about an invasion from the Soviet Union. Now they want it back, but it's going to take seven years to get back eight percent of the gold reserves that are being held in New York. Where's the gold? How many IOU notes from the US (or gold-plated tungsten bars) are sitting in Germany's vault in New York?

 

[namster]

A home safe bolted down to the foundation is going nowhere.

 

[Mr. Silver Stash]

I have a sdb for my pm and important documents. Check out this Wall Outlet Diversion Safe instructions, looks like a cheap good idea for small caches

http://m.instructables.com/id/Your-Own-Secret-Hidden-Safe!-For-Under-$2/?ALLSTEPS

 

[E-Money]

One word.....Gun Safe !

 

[jr98119]

A home safe bolted down to the foundation is going nowhere.

That's true, but then here is the last paragraph from the article referenced above:

Ideally, the safe should be bolted to the ground in the least elevated part of the home, such as the basement. Storing your silver in a basement safe ensures that any potential burglar will have to either pick the safe or move the safe and then carry your treasures up a flight of stairs before exiting. Although there is no such thing as 100% security, making theft a difficult task increases the time it takes to steal your belongings – thus increasing the chance the thief will be caught red-handed.

It's true that they can't carry the safe upstairs, but what are you going to do when they break in, put a gun to the head of your wife or kids, and request that you open the safe up for them?

 

[E-Money]

Very true, but it isn't the most wise thing to rob someone and then ask them to open the "gun safe". Probably a good policy not to put all your eggs in one basket.

 

[50cent]

One word.....Gun Safe !

I keep my silver in my gun safe and my gunz in the safety deposit boxes.

 

[baddbluff]

Which is more likely to happen?

A. Someone breaking into your house and putting a gun to your head and making you open the safe so they can rob you of your silver, OR...
B. A bank/government/bank robber stealing your silver out of your safe deposit box

Well, probably neither will happen, but I think I will take my chances with the bank. Ya, it kinda sucks that I can't stare at my favorite coins or riffle a stack of silver halves that I found whenever I want to, but I just feel like their vault's 5 foot thick walls and fingerprint scanner doorlocks are probably a little more secure than my $499 Costco safe.