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Where Do You Store Sacks of Silver
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Where do you store sacks of silver?
The question is where to store and where not to store... Let's start with the worst, as in what NOT to do. Here are some of the most problematic, risky, and damaging ways to store silver bullion, and why we think they’re bad.
Some worst-case examples are: basements, bathrooms, garages, and under sinks. Moisture accelerates tarnish and corrosion. The packaging can degrade, trapping moisture inside. And flooding or plumbing leaks can destroy the overall value.
Another lousy storage locations would be bedroom drawers, under your mattress, cookie jars, and freezers. Most of these hiding spots are obvious and present an opportunity for theft. Easy visibility is another mistake, sometimes this stimulates temptation even from people who wouldn’t normally steal. Displaying your bullion on shelves, leaving it on a desk or in an open container, or storing it in packaging that is labeled “Silver” are great examples of what not to do.
Some more bad examples for you to ponder would be shoe boxes, plastic grocery bags, and even fireproof boxes since they're easy for a burglar to walk off with. And don't even think of burying. Directly burying rounds or bars in soil is a recipe for disaster since some people use only a zip-lock or similar bag, others don't record the location.
One last bit of advice on "how not to store silver" is putting it all in one place. One way or another, it can have serious consequences.
The right way to store your silver is...
The best single method for storage is professionally secured storage service. They are fully insured against theft, fire, etc. You don’t handle environmental issues like humidity, packaging, tarnish prevention. There is no need to hide or protect it by yourself. And there is lower risk than home storage or bank boxes. It also makes it easier to buy and sell if necessary.
And there you have it, some great insight into storing your sacks of silver and feeling good about it. Strong advice from past triumphs and tragedies.
