Storing Your Precious Metals

When you own gold, silver, platinum or palladium coins or bars, you want easy access to all or most of them.  You don’t want to rely solely on an organization that may be located across the country and at their mercy.  Having coins and bars in your “hot little hands” means that you could readily access them to trade in a barter situation.  (This is usually not possible with physical metals held in IRA accounts; however, while not optimal, it is better to have gold, silver and platinum coins or bars in an IRA than “paper assets.”)

Pick out some handy, yet hidden locations in your home for some of your coins, such as a bag of pre-1965 U.S. silver dimes, quarters or half-dollars, which are 90% pure silver.  Some possible locations are:  1) Under dirty laundry; 2) With tire chains in the garage; 3) Sealed in Tupperware-like plastic container, then – possibly – in a 5-gallon paint can (or similar metal container) and buried under the foundation of your house, outbuilding or barn; 4) Under the baseboard in a room in a secret area; and/or 5) In a secret room created in your home, along with emergency food and water storage.

Note that the Container Store has 30 locations all over the U.S., and it carries many plastic container that are water-tight and in various sizes for storing valuables, including gold, silver, platinum and food.  Their website:  www.containerstore.com For example, pictured above is a large, heavy-duty, screw-top seal storage unit (14” X 14” at base, 19” high): After you have some coins / bars stored VERY close to you (at home), consider storing some at one or two additional locations away from your home.  For one location, you can rent a safe deposit box at your local bank.  (But keep in mind that the government could close the banks in desperation and limit your access or try to confiscate property.  In the “bank holiday” during the Crash of 1929, banks were closed and people had no access their money or items in safety deposit boxes.  However, after the banks reopened, you would probably be able to get back into these “safe” deposit boxes after an indefinite period of time.)

After you have some coins stored very close to you (at home), consider storing at one or two additional locations away from your home.  Good options are non-bank secure storage facilities, allowing for segregated (non-fungible) storage.  Many box sizes available; you can easily store a large dollar amount of gold or platinum in the smallest box; silver requires more room.  Most are open five business days, but some are open seven days a week.  Check for hours of operation at their websites. Without attesting to their overall security, here is a list of many across the country:

1)   Safe Deposit Center, 12000 NE 8th St., #100, Bellevue, WA.   Website: http://www.safedepositcenterwa.com;  Phone:  (425) 455-8333

2)  Gold Silver Vault, 2245 No. Samantha Ct., Nampa, ID.  http://www.goldsilvervault.com   (208) 468-3600

3)   Safe Haven Private Vaults, 8675 So. 700 East, Sandy, UT   (801) 569-3000    http://www.safehavenprivatevaults.com

4)   American Guardian Private Safe Deposit, 2690 E. Sunset Rd.  http://www.the-american-guardian.com/  (702) 222-4433

5)   Security Center, 147 Carondelet St., #100, New Orleans, LA   (504) 522-1254  http://www.securitycenterneworleans.com/

6)   Inwood Security Vaults, 5470 W. Lover’s Lane, #333, Dallas, TX  http://www.inwoodvaults.com   (214) 357-6888

7)   RoboVault, 3340 SE 6th Ave., Ft. Lauderdale, FL  http://www.robovault.com   (954) 766-9997

8)   U.S. Private Vaults, 9182 W. Olympic Blvd., Beverly Hills, CA  http://www.usprivatevaults.com   (888) 948-8778

9)   Safe Deposit Center, 2051 Young St., Honolulu, HI  http://www.safedepositcenter.com           (808) 949-2882

10)   International Depository Services of Canada; Mississauga, near Toronto, Ontario.  Contact Danielle or Robin Sprott, http://www.idsofcanada.com   (855) 362-2431

 

Questions?  Call (206) 719-6368.

I offer personalized service with privacy & competitive prices.  Call to discuss Model Precious Metals Portfolios for $5,000, $10,000, $25,000, $50,000, $100,000, and $250,000.

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