Quote:
Originally Posted by TucoRamirez
Buying PMs and then putting them in a safe deposit box sort of defeats the purpose of buying them imo. If you were a true gold bug you'd have the stuff buried all over your yard with some land mines.
The storage issue is a bit complex, but there are basically two options for any decent size collection:
1. Safe in house
2. Safe deposit box at bank
With the safe, you have to decide whether you want a fireproof safe or a extremely heavy one. With the heavy one it needs to be in a basement (cause it's heavy), but then is susceptible to things like floods or plumbing accidents. With a fireproof safe, it is might lighter, and can be placed upstairs, but makes it much easier for someone to remove by pushing it out a window for example.
If you have a safe, it increases the chances your house gets robbed. Even if you told zero people you bought metals, maybe someone saw you had some safe installation people at your house... and pretty much someone is always going to know like your family or close friends.
The safe desposit box has more obvious drawbacks like the yearly fee, the bank being closed, bank holidays, the bank stealing from it, a fire at the bank, or government confiscation.
You can get insurance on either the contents of a safe or a safe desposit box.
There's more in depth conversations about this on metals forums I can link you if really interested.