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How To Store Silver Bars & Coins At Home – Mike Maloney

from GoldSilver (w/ Mike Maloney):

There are lots of reasons to buy silver—it’s a real asset, the coins are beautiful, it will likely outperform gold, and it’s more affordable. But that affordability comes with a catch. Once you start to accumulate, you quickly realize that silver requires a lot more storage space than gold. It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those hiding places are impractical for the same dollar amount of silver.

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2 comments to How To Store Silver Bars & Coins At Home – Mike Maloney

  • Ed_B

    Interesting video with quite a bit of good info. But I have to disagree that a 500 lb. safe cannot be moved by a burglar. When my adult son bought a safe, it was a medium sized unit that weighed 550 lbs. empty. He and I were able to move this safe with the aid of a heavy duty hand truck, no problem. In fact, we both moved it at times, individually, so it is far from impossible to move such a safe without a crowd of thieves to help each other.

    To remove this problem, we secured his safe and later my own by bolting it from the inside to the concrete wall behind the safes and to the concrete floor below the safe with steel anchors, grade 8 bolts, and large steel washers. No one is moving either of these safes unless they bring a backhoe or forklift with them.

    But, as the video says, a safe only buys us time. Time for the cops to show up and arrest the thieves before they get away with the goodies, time for the fire to be put out, and time for the thief to run out of before finding the stash.

    I really like the idea of a layered defense against theft. A video alarm system, dogs, security lighting, well planned landscaping, good locks on doors and windows, and a suitable weapon all can be used to keep our stash secure. While there are no guarantees in any of this, much can be done to bend the odds of keeping what’s ours in our favor. Just don’t be one of those guys who installs a lot of this protection AFTER he has been robbed… or worse.

  • Eric

    I agree Ed. When I had a safe delivered, the delivery guy had it put in place in no time with a dolly. If it’s not bolted down, there is almost no reason in using it. An experienced thief can move 500 lbs. easily with a dolly.

    As you said, layers of security are the key.

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