jim4silver
Silver Member
- Apr 15, 2008
- 3,662
- 495
Storing your PM's
This issue has come up here a few times over the past few years, and I always see folks say how storing PM's at the bank are the worst place to store them. Then I see a story like I linked below that tells me these naysayers are wrong. The anti SDB storage proponents usually base their view on an often stated (but NEVER proven) tale that when Roosevelt banned gold ownership, G-men went to EVERY safe deposit box and examined its contents before the owner could get his/her stuff. But even if such a tale were true (and I believe it is not, except in cases where a specific individual or business was targeted by the Feds), there are many more stories I have read about (and seen personally in divorce and delinquent children/family matters) where home storage was the worst place and the owner got his money, jewels and PM's taken from a "trusted" loved one.
Sure, if a person owned lots of land and could bury or otherwise secure their stash that might be ideal, but for us city dwellers who rent (landlord has a key to your place), bank storage is the best option (although I do worry from time to time about those tales the pundits spout out on the internet, even though I don't believe them). Granted, if I did own a house I would really want to store them there if I could come up with a plan where they metals were hidden, locked up and secured from fire/tornado, etc, at the same time.
Just know that safes might be good to stop crack heads and such, but if one has legal access to the house, opening them is quite easy. I saw a case where a disgruntled spouse cleaned out the safe (with a locksmith) when the other spouse was on a "business" trip. The spouse who took the goods then left and filed for divorce. There was no way to prove what was in the safe and since it was marital property, the wife got into no trouble legally.
PS I know there have been recent cases where a bank improperly seizes a box because they thought the owner didn't pay it, etc. But in these cases if the owner was up to date on payments and the bank wrongfully seized it, the owner would have a great case against the bank to recover.
Utah man stole gold and silver from parents | The Salt Lake Tribune
Just my opinion.
Jim
This issue has come up here a few times over the past few years, and I always see folks say how storing PM's at the bank are the worst place to store them. Then I see a story like I linked below that tells me these naysayers are wrong. The anti SDB storage proponents usually base their view on an often stated (but NEVER proven) tale that when Roosevelt banned gold ownership, G-men went to EVERY safe deposit box and examined its contents before the owner could get his/her stuff. But even if such a tale were true (and I believe it is not, except in cases where a specific individual or business was targeted by the Feds), there are many more stories I have read about (and seen personally in divorce and delinquent children/family matters) where home storage was the worst place and the owner got his money, jewels and PM's taken from a "trusted" loved one.
Sure, if a person owned lots of land and could bury or otherwise secure their stash that might be ideal, but for us city dwellers who rent (landlord has a key to your place), bank storage is the best option (although I do worry from time to time about those tales the pundits spout out on the internet, even though I don't believe them). Granted, if I did own a house I would really want to store them there if I could come up with a plan where they metals were hidden, locked up and secured from fire/tornado, etc, at the same time.
Just know that safes might be good to stop crack heads and such, but if one has legal access to the house, opening them is quite easy. I saw a case where a disgruntled spouse cleaned out the safe (with a locksmith) when the other spouse was on a "business" trip. The spouse who took the goods then left and filed for divorce. There was no way to prove what was in the safe and since it was marital property, the wife got into no trouble legally.
PS I know there have been recent cases where a bank improperly seizes a box because they thought the owner didn't pay it, etc. But in these cases if the owner was up to date on payments and the bank wrongfully seized it, the owner would have a great case against the bank to recover.
Utah man stole gold and silver from parents | The Salt Lake Tribune
Just my opinion.
Jim
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You've really got to stop posting pics of my property like that. Everyone is going to come dig up my place looking your stockpile of silver! LOL
