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UDEric
Penny Pincher Member
USA
202 Posts |
 Posted - 05/13/2010 : 08:49:22
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So I'm thinking the other day, what if someone was to win the lottery. Lets say 20 million. And they want to put 25% of it into Silver/Gold holdings. That's 5 million dollars worth of Silver/Gold.
Where do you store that? Surely that is too much to have in your house (size and value wise).
This obviously is a problem I wish I had, but I was just wondering if anyone has any ideas. Even the typical Safety Deposit box is too small for this.
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"Three things cannot be long hidden: the sun, the moon and the truth" |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 05/13/2010 : 08:53:44
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Actually, a standard COMEX 60 LB GOLD bar would be worth $1,187,520. A few of these and you're done spending the $5M.  |
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– Theodore Roosevelt
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 05/13/2010 : 08:53:46
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| You'd be amazed at how small $5M worth of gold is. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/13/2010 : 09:27:11
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| or my favorite place: heater/AC vents |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/13/2010 : 10:10:25
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| Can store it at brinks or at an amored car company. Otherwise there are private vault companies. There are also creative ways to store at your house :) |
Copper Penny Investing
www.portlandmint.com |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 05/13/2010 : 11:30:11
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a monster box of silver eagles (500) goes for about $10,000 and is the size of a shoe box. $5 million would buy 500 of these. if you estimate that this takes up 1 cubic foot, then it would fill a 10x10 room to a height of 5 feet high. or it would fill a 10x20 room 2 and a half feet high - thats about the size of a 1 car garage. if you estimate that a 2-car garage is 20x20 and 8 feet high, it would take 3,200 'shoe boxes' to fill it, which would be approximately $32 million of silver. of course, you would want a storage facility a bit more secure than your garage, and there is a limit as to how high you might safely stack these suckers, but that just paints a picture.
a monster box of gold is also 500 coins, but at $1000 an ounce costs half a million. a more reaistic price is 1300 per coin with premium, raising the box price to $650,000. So $5 mil would get you a little less than 8 boxes of gold. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Nickelless
Administrator
USA
5580 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 05/13/2010 : 18:00:46
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I would take some of the remaining $15 mil and buy a place that had enough interior space that you could create a hidden safe room with totally disguised passageways. It would be worth ten or twenty thousand of remodeling costs to protect your investment  Maybe a disguised vault off of a cellar would work? |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Nickelless
Administrator
USA
5580 Posts |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 05/13/2010 : 18:18:00
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| All this talk of five million dollars worth of gold, and rooms full of silver, has me breathing hard. I need to go lie down for a moment. :) |
Come to the new and improved realcent: http://realcent.org
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Nickelless
Administrator
USA
5580 Posts |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 05/13/2010 : 22:06:23
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wow Nickelless  Those secret passageways are cool. Only problem is, I think one of those would cost closer to a hundred grand, not ten. And then... if the rest of the house wasn't up to the same standards, the thing would stick out like a sore thumb. I was thinking more of something like a sliding panel behind a closet with a six inch deep hidey space. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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browndogs
New Member
1 Posts |
Posted - 05/13/2010 : 23:11:38
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| I've been "lurking" on here for a while, just enjoying reading what everybody else has had to say about stuff. But this question is bringing me out of hiding. Five million dollars in gold and silver? That is something to daydream about... |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 05/13/2010 : 23:15:04
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| For 5mill, you can become a king in another country. So why live in an over inflated country? |
Trolling is an art. |
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uthminsta
1000+ Penny Miser Member
USA
1872 Posts |
Posted - 05/13/2010 : 23:25:59
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| Welcome, BROWNDOGS... you're not kidding. It would buy a room full of those nice Brittanias!!! I like your avatar!!! |
Come to the new and improved realcent: http://realcent.org
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Be Nice to BankTellers
Penny Sorter Member
USA
77 Posts |
Posted - 05/14/2010 : 11:26:45
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| What's wrong with a safe deposit box at a few local banks? |
Grandpa always told me, "Back in 1964..." I listened.
Selling copper cents @ $2.50/lb. + shipping. |
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Beau
Penny Pincher Member
216 Posts |
Posted - 05/14/2010 : 12:13:01
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nothing in them is insured, and Obama will confiscate
the gold and silver like they did in 1933. |
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Nickelless
Administrator
USA
5580 Posts |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 05/14/2010 : 13:37:51
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You must be logged in to see this link.
Buy your own island and have some security guards.
Since that island is in Greece, maybe they will fire sale it to you since they need some money :-) |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Nickelless
Administrator
USA
5580 Posts |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 05/14/2010 : 13:57:19
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Well I was just saying if you want space :-) an island would have plenty to hide stuff
You could always buy a farm out in the middle of nowhere. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 05/15/2010 : 16:59:18
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| Buy/rent an old closed down bank. You could stor eyour gold there and advertise vault space for rent. No gov't confiscation in your own private vault. I thought about renting a closed bank when I seen one a few years ago and offering this service. Was going to open a pawn shop in the open space. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/15/2010 : 18:08:14
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quote:
Originally posted by wheeler_dealer
Buy/rent an old closed down bank. You could stor eyour gold there and advertise vault space for rent. No gov't confiscation in your own private vault. I thought about renting a closed bank when I seen one a few years ago and offering this service. Was going to open a pawn shop in the open space.
Do you really want a storage space that's that conspicuous?? It'd be a heckuva lot safer to create a hidden storage area behind a secondary wall in your basement--use concrete-block bricks to wall off about a section a few feet out from the main wall. Nobody will know you have stuff hidden there. I wouldn't want MY stuff stored someplace where the general public could theoretically access it if they wanted to. |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 05/15/2010 : 18:17:26
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Gotta ask... If you had that much money and things really got that bad. Why live here, under those conditions? Wouldn't it make more sense to take that money and move to a better country?
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Theoretical Question
Forum Locked
interior vault space... wouldn't it be nice 
