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General Interest > Money Matters
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Re: Sterling Silver [Re: LayYouIn]
    #9971163 -

A 1000 oz bar would weigh around 70lb. Perhaps it's not large but that's a bit heavy. Outside of the paranoid fantasy of "them" leaving the country with your money, what advantage is there to having the metal on site? Don't forget that the etf is regulated same as a stock. 700oz is just what I happened to get. Someone really into silver might get many thousands of oz. Tell me again how burglars never look in your hiding place? And when you take the 1000oz bar down to sell. Do you accept the check? The so and so might leave the country with your money and stiff the check. That's more likely than an etf defaulting.

Lay, I use the same system with paying for the boxes. It's a minor expense and pain in the ass for what I use it for but for silver, it would be multiplied about 50 times. If I get more into gold I'll just do an etf.


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Re: Sterling Silver [Re: Stonehenge]
    #9971261 -

Stonehenge said:
Do you accept the check?


yeah, since it would be a small amount equivalent to the price of one oz(i dont have a 1000 oz bar and neither do you).  if they want to take the risk for that...

how do you calculate that a safety deposit box would cost so much?  i think $25/year isn't to bad of a price.  i keep my SS Card, birth certificate, etc...inside of it, plus my silver.  i keep a little bit at home as well.



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Re: Sterling Silver [Re: Stonehenge]
    #9971797 -

Quote:
Tell me again how burglars never look in your hiding place?


I dont have a hiding place, I use a safe deposit box.

But seriously. The average burglar is in your house what, five minutes? They don't take the time to lift pavement in your garden and dig a 5ft hole to get your silver. They don't expect a simple chair to have a hollowed part lined with Gold Eagles. They don't open every single tin of tomato soup in your cellar to check whethere theres a pound of palladium inside.

There are a ton of places in the average home where a burglar simply won't look, because to do that they have to search on a level that takes the house apart, and would last a day.

Time they dont have.  They bust in a window, grab your laptop and your DVD player and GTFO.


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Re: Sterling Silver [Re: Asante]
    #10038987 -

Wiccan_Seeker said:
There are a ton of places in the average home where a burglar simply won't look, because to do that they have to search on a level that takes the house apart, and would last a day.



Unless those burglars happen to be law enforcement officials.  Then they have all day/week/month/year and will probably just take the deed to the whole house and ownership of your paper stocks while they're at it.

Metal premiums are ridiculous though.

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Re: Sterling Silver [Re: ChuangTzu]
    #10048195 -

I didnt include LEO on the burglar list.

If you have LEO to fear, seal whatever it is you're hiding into lengths of ABS drain pipe and bury them in the woods on a GPS location. If metals are involved, scatter bolts and nuts throughout that forest to make metal detector efforts fruitless.

But seriously if you're legit, like we gentlemen are, precious metals are just property. You could even insure it.

Quote:
Metal premiums are ridiculous though.


Yes! It didnt used to be like this only a few months before. People smell money. Premiums on silver used to be cents to the ounce, not dollars to the ounce.


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General Interest > Money Matters
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