Myers Depot Metal Detectors

Should I bury my silver hoard? $2200 worth

bonesquat said:
I've got a ton of silver and don't like that it's sitting inside my room totally exposed. I live out in the country and have been toying with the idea of just burying it somewhere where I could retrieve it later. What are your thoughts on this? Do any of you bury your gold or silver?

I figure if I bury it I'll forget about it and then come back later when I think about it and make ten times or more than what I paid for it.

Your thoughts would be appreciated. :)
Click to expand...

Cash it in... and bank the money... Safer..
 
Many people already hit on this, but burying treasure, it's a bad idea. To think of all the caches still hidden out there (just from bandits and pirates alone without even thinking about all the people that distrust banks). Honestly the thought of putting valuables in the ground to dig up later when they get corroded and dirty or you forget where it is buried (depreciating the value or lost for generations) is not the way to go. We have better ways to invest our money in the twenty first century than to sit on a hoard of coins. Just my two cents worth. But if your into sitting ontop of it or physically being able to see it, then it needs to be kept in a cool, dry, moisture free environment (rules out below ground). So a safe deposit box or fire box hidden inside a house, like someone said, behind a false wall sounds like a good idea:money:
 
I'm not a fan of safety deposit boxes,some problems bank could go under,can't get the bank in a time of need,confiscation by powers that be etc.Some Home safes are all rated,meaning how long it would take a safe cracker/locksmith to open your safe.Some of the better one's will say 60 min or better,that's not quite long enough for me.Really think this one out,if you bury it will you dig it up to add to your stash will you have more then one stash buried?.Beerdoodle has a good point and this has happened to people,you could lose your mind over time(it's already happned to me:lol:).At least a fire box and hide it...............................
 
I had a safe deposit box for years, kept getting more stuff to put in it. Finally it wouldn't all fit in the biggest box they had and it was getting too heavy to pull out when I opened it and it cost over a hundred dollars a year. So I figured why not buy a big safe for about $500. Now I have a small fire safe with nothing but junk in it hidden. Then a larger safe bolted to the floor also hidden and the big fireproof water proof gun safe bolted to the cement floor with 4 heavy cement anchors. The safe itself is almost a half a ton and the contents add a lot more weight. And then there is the insurance policy.:yes: So I feel pretty safe now.
 
Still think cashing it in is a better option... Why would you keep it in that form? If its worth $2200, then get it... Its not making anything sitting there, Its found money. Cash it in and put it in a 2 year CD and forget about it.. In 2 years see if the rates went up and then do it over and over...
 
Joeteck said:
Still think cashing it in is a better option... Why would you keep it in that form? If its worth $2200, then get it... Its not making anything sitting there, Its found money. Cash it in and put it in a 2 year CD and forget about it.. In 2 years see if the rates went up and then do it over and over...
Click to expand...

I would definitely agree with you, and one up your advice to the suggestion that all long term money SHOULD be in a good diversified no load mutual fund, aka the stock market, but I have serious reservations about doing so now! The leading nation in the free world has been doing the exact opposite of what is friendly to investors lately.

So right now silver hoarded in a junky part of an attic sounds like the best advice.
 
Bank safety deposit box

I had to pay for a court order, and a locksmith to drill my Mom's box when she died. The bank, acting as a trustee for the probate court seized the contents of the box, (my stamp collection, worth about 50 cents), until the probate was finished. Of course, the spare key was inside the box, and the main one turned up in a silverware drawer.
OTOH, There is or was a publication called Shotgun news that does/did have ads for at least one company that produced a gun safe that is delivered broken down. You assemble it and so far as I know it should work OK.
I have not seen that publication for a few years, and have no dealings with the company, not have I seen the product.
Just a lead.....
Thanks,
John Morton
 
My $$ advisor isn't a fan of safe deposit boxes for the reason mentioned above......if a bank fails, your acess to your box is gone, at least for awhile. A GOOD safe (not WalMart!!!!) and a mean dog combined with some well placed firearms work for me.

Dusty
 
Consensus seems ot be invest in a good safe for your home. Then you have control of your own items and you know they are safe.

I wouldn't bury them myself either..I can't remember what i did last week let alone a few years form now.. I did find it interesting that the comment was made that ya never know when a random MD'er might work over your lawn without permission..sad statement there..that MD'ers go on folks lawns w/out permission. Wouldn't consider it myself. (but thats another thread right?)

So in short..home safe rated for the elements and secure.

Good luck.

Now go out and find more silver for that collection.

:D
 
If it were me, I'd get a safe. If I were going to bury a hoard, I'd do it under my house where noone could see me do it and it would be much harder to forget the location. If I had a lot of precious metal right now....I would keep it. All signs point to the potential for some really serious trouble with the dollar in the next couple of years. Cashing in something that has real value for cash that could be destroyed by by high inflation is a bad idea. My two cents.:D
 
I think the first part of security is not telling people what you have :). This eliminates the incentive of burglary in the first place.
 
A good hiding place in your home is to pry off a piece of your baseboard and cut away the sheetrock underneath just enough to reach your hand into. Insert treasure, then replace the baseboard.
 
SAFE definitely buy one that will fit you needs and have it professionally installed I had a friend do this and the company even put in extra support for the tie down locations in her basement she loves it and all her stuff is 100% safe yet obtainable when she needs them:grin:
 
bassgreg said:
Invest in a safe for your home.I have a four foot high safe that weighs a ton.Its Waterproof Fire Safe w/ Electronic Lock .I have all my silver bullion in it and gold.Cost me around $400 back in 98 but remember its really big.You may need a smaller one.
Click to expand...

I totally agree with Bassgreg, a safe is the only way to go. My brother just got a 5 foot tall one for his silver and gold. The thing weighs a ton (so you should brace up the floor), it's bolted through the floor, waterproof, fireproof, and near impossible to move - for around $700.00. Excellent insurance for silver and gold.

HH,
Cors
 
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