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Personally Storing Silver Coins: Time To Take Cover

More and more people will begin to choose personally storing silver coins. Central banks around the world have turned on the collective printing press in a last ditch effort to save currency. This has never worked, and it will not work this time.

Silver and gold will, eventually, return as money and currency, as they have been for thousands of years. Yes, it will be a mess at first, although probably not as bad as you think.

The problem or the opportunity if you are reading this now is that, especially and uniquely with silver, there is a general lack of supply available for you, the average investor.

Click here for more on the basics of silver investing.

Its All About Safety

When storing silver coins, it is essential to have a waterproof and fireproof safe to protect against natural disaster. Optionally, you may find it prudent to bolt the safe to a floor. Most safes come with a mounting kit for this purpose.

Finally, it’s best to have at least one other security barrier—such as a locked closet door—for added protection against theft (not that it’s easy to carry away 150 lbs!).

Start Now

Now is the time to accumulate what you can as the wealth transfer will be like nothing anyone has ever witnessed. Prices are low, and it is still possible for the average investor to become involved.

Is There a Potential for Confiscation?

This question comes up often with respect to gold, although theoretically, the same could apply to silver. The answer is, in a word, no—confiscation is not a real threat to the silver investor.

What makes this time different than the financial crisis in the 1930s? Essentially, it boils down to the fact that, back then, gold and silver were used as “real money,” or they backed money. Therefore, the need for the government to hold them was much more pressing.

Obviously, this isn't an issue now and hasn't been since gold was officially disconnected from the dollar in 1971. Therefore, the basic premise and motivation behind reigning in the money is simply not there anymore and would not justify the cost.

Besides, one of the great advantages of personally storing silver coins is that you can hide them yourself.

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