Silver Storage Explained

[silver storage at home]

The way you store anything of value depends on many factors. Many people find it very easy to set up safe, private, and locked storage areas in the home. For me, though, it was a new concept.

Before I began investing in and taking possession of silver, I simply didn't own anything that held more value than other things you generally keep at home, perhaps simply locked behind a door or within a safe.

How to Store Your Silver

Silver storage, in the context of purchasing coins as investments, is relatively simple. One of the beauties of investing in silver (and gold) coins, and perhaps the primary reason that these metals have been used as money for thousands of years, is that they do not change, decompose, spoil, metamorphose, or transform into anything else over time. Simply put, silver does not lose its core properties as it ages.

While silver will certainly tarnish over time due to its particular chemical relationship to oxygen, the tarnish never damages the metal's unique performance properties. And, of course, tarnish can polished away very easily.

Storing bullion—silver rounds, eagles, bars, and even 90% junk coins—need not be complicated. Putting into place a proper silver storage system is a rather simple step that will give you added confidence in the value and security of your investments.

A fireproof and waterproof safe is a must, and the use of multiple locks is advised.

Of course, the silver storage methods I refer to here are intended for silver coins that have been purchased as investments. Read more about investing in silver here.

How Much Will It Cost?

Essentially, you will want to spend about 1% of your total silver investment amount on storage.

My first silver coin purchase was 1000 ounces. This fits pretty nicely in a small safe (waterproof and fireproof, naturally) that can be purchased just about anywhere, including Costco. Most safes this size are typically priced between $100 and $200, which, in my case, was well below the 1% guideline described above.

I do, however, think it’s also a good idea that the safe be either bolted down or dead bolted behind another door. This would add another $100 or so to your total storage cost, depending on how you go about it.

Frankly, considering the costs associated with other common forms of silver investment, the cost of storing silver coins yourself is actually quite reasonable. Transaction, administration, storage, and shipping typically add to the cost of investing in silver in most other forms. In my opinion, though, the benefits of owning any form of silver now far outweigh the need to make a small additional investment in order to ensure that it’s safe.

Keep in mind, however, that as the masses begin to catch on to the current silver shortage, 90% silver coins may be your best, or only, option. In this case, you’ll need more room to store them since coin bags tend to take up more space.

Click here for David Morgan's overview on how much space a silver investment actually consumes.

Have Some Insight About Storing Silver?

Do you store silver at home? If so, what advice do you have for others on how to go about it?

What Other Visitors Have Said About Storing Silver

Click below to see contributions from other visitors to this page...

More Ideas for Silver Storage 
But I'd like to add three items to yours and Mr. Morgan's list. (1) The administrator of my estate knows where the goods are. (2) I have a hidden, …

Very Useful Info For Storing Silver Not rated yet
All These tips are great information. I especially like the one about using the rice to absorb moisture. As those dehumidifier bags have been hard for …

Click here to write your own.

Back To Silver Coins Home

The #1 Reason to Own Silver Now?

Feedback from readers...

"Silver Coin Investor is cutting edge and has it all...the value I receive from your website and The Lewis and Mariani Silver Letters is far, far greater than the small subscription cost. I am finding that I don't need any other source for silver research and knowledge. Thanks Jeff.

I mean that.

Vic (UK)

"I find any information I can learn about investing in silver interesting. Your website and e course have taught me a few things I didn’t know. You’ve provided some good reading and links about something I love as a hobby and my and my family’s future. Thank you"
Dennis - Mount Sterling, Kentucky

"I've been reading on silver on many sites, I find your information more practical and straightforward and full of content, thanks".
Xavier - Barcelona, ESP

"Your website and E-Course helped provide a different take on the metals".
Paul - Beckley, West Virginia

"I appreciate the educational aspects of your website/e-course. Your course has helped to reinforce my decision to purchase more silver".
Spencer R. - Loomis, California

"I appreciate your sharing your vast knowledge with those of us who are learning about the potential for silver investing".
Thomas - Peoria, Arizona

"I have a very busy schedule and your course updates keep me focused on the "silver strategy"
Bob M. - Kitchener, Ontario

"I've read your articles on Market Oracle and I appreciate the clarity in your writings. You confirm what I believe, that silver has a huge upside and if patient will pay off".
Ken - Littleton, Colorado

"Well it helps confirm my conviction that silver is far better metal to invest in than gold or any of the other metals because of its monetary, medical, and industrial uses. So it really has a realistic unrecognized potential that I feel the gold bugs overlook. I read and research a lot of different sources and you help me stay balanced in my approach. Thanks for the course and keep up the good work!"
Bill - Columbus, Ohio

"This course and website is slowly restoring my confidence as an investor in silver. At one point I was ready to unload it all at rock-bottom prices. Since I've read the letter I've held on.
Kim - Saint Thomas, Ontario

Thanks for making it all free and very simple.
Jim - Kingsland, Georgia

"The E-Course is very upbeat and has helped me to feel more confident about the future of Silver!" -
John J. - Harrisville, New Hampshire