Storing Silver Boxes

2 posts / 0 new
Last post
Rhizoid's picture
Rhizoid
Status: Member (Offline)
Joined: Mar 23 2010
Posts: 8
Storing Silver Boxes

Before I bought four boxes of American Silver Eagles, with insurance settlement money I had in savings due to a car accident I was in as 18 years ago, I had merely thought that there would be safety deposit boxes to accomodate the combined size of the boxes.  But when I went to open an account at a local bank today, which had safety deposit boxes, I discovered that the boxes weren't large enough.  Now, I don't know where to store the silver.  I am just a renter of a small room, and own no property where I might bury the silver. 

So my question is, how do I find a safe place to safely store four 15" x 8.5" x 4.5" boxes? 

I fear I made a foolish decision by purchasing such a large amount of silver. 

What's the best thing I can do to safely store the boxes?

 

dgilmart's picture
dgilmart
Status: Bronze Member (Offline)
Joined: Aug 3 2009
Posts: 40
Re: Storing Silver Boxes

one option is a gold/silver depository. I store my silver (i live overseas, and too big to put at relatives house) at a place called First State Depository (http://www.fsdepository.com/). It charges 0.5% of the value of the silver per year in storage charges, so $50K of silver will incur $250/year of storage costs, which seems not bad to me. this is the same as the management fee on the SLV etf many buy.

For me, they have been good and responsive, and have a clean BBB record (but only open since about 2006). Were recommended by Tulving.com where i buy gold/silver.

if there is a similar place closer to you, you coudl meet them personally, and bring your silver right there, which may be better to have it close by. just make sure it's ok.

but storage like this outside the home is an option, and a relatively reasonable one (assuming they don't run off to aruba with it, but i've gotten decently comfortable with the one i chose).

Best wishes,

Doug

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments