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theo
Penny Hoarding Member
USA
588 Posts |
 Posted - 01/31/2009 : 23:03:21
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Over the past several months I have acquired about 150 ounces of junk silver and an 1.5 ounces of gold and I was wondering if you had any ideas on where or how to store my coins. Here are the options as I see them:
1. The bank safe deposit box - This seems like a safe option, but I'm concerned that the banks could be completely nationalized over the next few years by a government that may be hostile towards those who "hoard" precious metal coins as the dollar becomes worthless.
2. Store in a home safe - If I do this I need to anchor it to the floor (so thieves don't just walk off with it). This involves time and expense I would rather avoid as I'm not handy enough to do it myself, although I suppose I could try. That aside I'm concerned that a safe advertises the existance and location of my valuables. It also could put myself my family in danger ("Gave us the combination or else!").
3. Hide in home - I have my coins spread over several clever (I think) hiding places, but a thorough ransacking of my house would likely turn up most of my coins.
Since it sounds like some you have the same dilemma, I was hoping for some insights/suggestions.
Thanks,
Theo
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Somnophore
Penny Pincher Member
United Kingdom
161 Posts |
Posted - 02/01/2009 : 06:02:46
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| It's not a lot of moneys worth of pm's so I wouldn't worry about it, it would be a waste of money to buy a safe for so little. Just put somewhere hidden in house and have them over-insured on your home insurance |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 02/01/2009 : 07:12:53
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Do a Google search for "diversion safe" and you'll get an idea of items you can use to hide your coins in. I don't think it's necessary to buy one of these safes, they will just give you an idea of something you could use. You could put them in anything from a box of cereal to a box of tampons. Or think about putting them in a box in your basement completely surrounded and covered by nondescript boxes containing old books, clothes, clutter, etc. Who's going to keep going through those boxes if all they're finding is junk?
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Edited by - Nickelless on 02/01/2009 07:17:07 |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/01/2009 : 09:42:24
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# 3 will be sufficient for ya at this point...
If you won't be accessing for a long time, might I suggest putting in a wall. Make sure its an interior wall though. Make a little hole, then patch it up. |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 02/01/2009 : 10:13:08
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Do a search on YouTube for something like hidden safes. I saw some good ones before my puter crashed. Like putting in a dummy electrical outlet, one showed how to make one of them comercial can safes, another how to make a full plastic pop bottle with a hidden compartment inside.
Being a drywaller I can tell ya you don't want to just cut a hole and patch it, patches are ugly and even if I do it "I" can still see it after paint. Chances are if "you" do it everyone will see it. Better off popping off some baseboard trim and stashing behind there- don't forget to recaulk the trim when you put it back. HH Mark |
"54/54/2280" |
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wagsthadog
Penny Hoarding Member
USA
565 Posts |
Posted - 02/01/2009 : 10:19:07
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Hi there-
Coins? What coins? I firmly believe the US Dollar will strengthen and I detest precious metals and firearms! ; )
wags |
Only when they CAN'T have it, ......THEN they'll want it.
I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/01/2009 : 12:48:26
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Thanks for the good ideas guys. I probably should insure them, accept I'm still trying the build my investment. In fact I'd like to at least double it. I thought I had about 6 months to get silver at reasonable prices, but time seems to be growing short with all the recent bad news and increasing PM prices.
Another idea I had is what I call a "spoof box." I purchased several gold plated quarters on Ebay for about a dollar a piece, which hopefully will look like pure gold coins to the unpracticed eye. I'm going to put them in a decorative box on my dresser, which is the first place a thief will look (I guess). I might even throw some non-silver Kennedys halves in there for good measure. My theory is that once a thief feels they have something valuable they will be more likely to leave. I know it probably won't make that much of a difference, but you never know. |
"Hobbies? I got no hobbies! Everything I do; I do for real." The Gold Coast |
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Corsair
Penny Hoarding Member
811 Posts |
Posted - 02/01/2009 : 12:54:10
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| That's not a bad idea. Maybe put some cheesy little lock on it to protect you "stash"? |
So long, Realcent 1. Come visit us at Realcent.org! |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/01/2009 : 14:18:37
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Send them to me. They'll be safe.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/01/2009 : 14:43:33
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quote:
Originally posted by ME CO
Do a search on YouTube for something like hidden safes. I saw some good ones before my puter crashed. Like putting in a dummy electrical outlet, one showed how to make one of them comercial can safes, another how to make a full plastic pop bottle with a hidden compartment inside.
Being a drywaller I can tell ya you don't want to just cut a hole and patch it, patches are ugly and even if I do it "I" can still see it after paint. Chances are if "you" do it everyone will see it. Better off popping off some baseboard trim and stashing behind there- don't forget to recaulk the trim when you put it back. HH Mark
Of course I should have noted, it is easier on not textured walls... I too used to drywall, so yes you are right if you dont know what your doing, it could look like a bad patch job, I like the trim idea, especially if its the old 30's/40's type base |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 02/01/2009 : 15:25:45
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Do not use a bank safe deposit box IMO. You want to have access to your stuff 24/7
I currently use a small chest style sentry safe for my small hoard of gold and silver coins and bars, and hide the safe under a large shelving system in my basement. In order to get to it, I have to remove everything from the bottom shelf, (very heavy tools and several cases of water) unscrew the bottom shelf from the supports with security screws, then remove the shelf entirely to get to the safe. The chest safe is a good idea IMO incase you have to bug out of your house in hurry when the SHTF.
I do like the idea of having something out that looks valuable that could be taken by a thief just so he thinks he found something and moves on. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 02/01/2009 : 22:02:05
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quote:
Originally posted by theo
Thanks for the good ideas guys. I probably should insure them, accept I'm still trying the build my investment. In fact I'd like to at least double it. I thought I had about 6 months to get silver at reasonable prices, but time seems to be growing short with all the recent bad news and increasing PM prices.
Another idea I had is what I call a "spoof box." I purchased several gold plated quarters on Ebay for about a dollar a piece, which hopefully will look like pure gold coins to the unpracticed eye. I'm going to put them in a decorative box on my dresser, which is the first place a thief will look (I guess). I might even throw some non-silver Kennedys halves in there for good measure. My theory is that once a thief feels they have something valuable they will be more likely to leave. I know it probably won't make that much of a difference, but you never know.
1) Check with your potential insurance policy to make sure coins are covered and how they are covered. I would ask in an anonymous manner though. Dont give them all your info and then say "oh by the way, I have $25K worth of coins to insure". There are bad apples at insurance companies and people making $9/hour in customer service that would have access to your records. All they have to do is come across your profile, see that you have coins/precious metals, and then tell their friends. Just like that you are a target for a home invasion.
2) The spoof box is a great idea. Buy some cheap jewelry too and throw it in there where you said. A thief likely wants to get in and out as quickly as possible, so if he thinks he found your hoard, he will hopefully take it and leave. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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n/a
deleted
105 Posts |
Posted - 02/01/2009 : 23:10:25
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| I feel lucky to live in an apartment building and not need to worry about a safe. The doors here are made of solid steel. Mine stopped a .45 slug a couple months back. Some one is always home and the doors are always locked. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/01/2009 : 23:33:15
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More good ideas; thanks guys. I'm very happy I found this site.
The "diversion safe" site had some good ideas. I actually have a homemade version of their book idea (not as nice though). I think using some of their household items may be riskier than most realize, especially food containers. First hiding valuables in the kitchen is not exactly a new idea; hiding money/valuables in a coffee can for example. A smart thief would probably give the kitchen a quick once over if he/she has time (I would). Second in a SHTF situation the thief might actually be targeting your food stores, when they notice that your can of Pringles seems a bit heavy and jingles.
I think Nickelless' idea of the rummage filled basement is the best defense as it forces the thief to spend time he may not have. Also, I would think the basement is the last place a thief wants to be when they hear the garage door go up. Finally, at this point I think its a little safer to separate your coins into three or four groupings as opposed to one big stash that any thief could accidentally stumble upon. I know that some like to have their coins prepared for a potential bug out scenario, but a lot of things have to happen before I would even consider abandoning my home. That being said I could probably have my coins gathered in about 10 minutes.
BTW thanks for affirming and improving upon my spoof box idea. I will put your suggestions to use. |
"Hobbies? I got no hobbies! Everything I do; I do for real." The Gold Coast |
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misteroman
Administrator
USA
2565 Posts |
Posted - 02/02/2009 : 01:42:06
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| store in cold air return vents of your heating system. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 02/02/2009 : 06:10:19
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quote:
Originally posted by drs499m
I feel lucky to live in an apartment building and not need to worry about a safe. The doors here are made of solid steel. Mine stopped a .45 slug a couple months back. Some one is always home and the doors are always locked.
The fact that you know your door will stop a .45 worries me. SOLID steel door? You feel lucky to live in that apartment huh? You should feel lucky just because your door happened to stop a bullet. How do you know it was a .45? With the gunfire it sounds like you need a safe, and a gun or two....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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keys
Penny Collector Member
383 Posts |
Posted - 02/02/2009 : 17:51:18
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The ultimate hiding place...
You must be logged in to see this link.
A little translating was needed to make the story intelligible.
In 1897, a Collector of gemstones, named Michael Greyvs, decided to try to trace the steps the jewel thief Guddena took in the last days of his life. He was able to find out that during his final days the police blocked the urban area, where Guddena was hiding, and discovered that on the day Guddena was killed, he went to a workshop that produced ceramic figurines. Otis found this shop and asked the owner, who remembered Guddena who had asked about figurines on the shelves.
He chose a cat just removed from the oven and still soft, and carefully examined it and bought it.
The owner offered Guddena another cat, as this one was not solid yet, but Goodden insisted this was the one he wanted and asked the owner to set it aside and not sell it until he returned. Shortly thereafter, Gudden was shot and killed by policemen.
It had been nearly two years, and the owner decided that the buyer of the "soft" cat would not return. And if he did return, he would offer him another one just like it.
The owner took the unclaimed figure along with similar ones like it and sent the whole lot to America.
Otis continued his search across the ocean. He managed to find a commercial agent in the United States, and learnd from him that they were dispersed throughout the country it was now impossible to trace the single figure.
Otis nevertheless searched many outlets throughout the United States, but eventually abandoned the search and returned to Germany.
The Cat figure was just 20 centimeters high. The cat has a straight tail wrapped around the body and coveres his front legs. Initial figures - yellow color. It should be somewhere in the US ian inside it are rubies worth half a million dollars.
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Now, if a fortune in jems can remain hidden in a ceramic cat for over a century, what makes you think a small fortune in PMs can't be hidden in one of your statues or nick-nacks at home?
Ceramics class anyone? |
I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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Where to store your coins?
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