When you own gold, silver, platinum or palladium coins or bars, you want easy access to all or most of them. You don’t want to rely solely on an organization that may be located across the country and at their mercy. Having coins and bars in your “hot little hands” means that you could readily access them to trade in a barter situation. (This is usually not possible with physical metals held in IRA accounts; however, while not optimal, it is better to have gold, silver and platinum coins or bars in an IRA than “paper assets.”)
Pick out some handy, yet hidden locations in your home for some of your coins, such as a bag of pre-1965 U.S. silver dimes, quarters or half-dollars, which are 90% pure silver. Some possible locations are: 1) Under dirty laundry; 2) With tire chains in the garage; 3) Sealed in Tupperware-like plastic container, then – possibly – in a 5-gallon paint can (or similar metal container) and buried under the foundation of your house, outbuilding or barn; 4) Under the baseboard in a room in a secret area; and/or 5) In a secret room created in your home, along with emergency food and water storage. Note that the Container Store has 30 locations all over the U.S., and it carries many plastic container that are water-tight and in various sizes for storing valuables, including gold, silver, platinum and food. Their website: www.containerstore.com For example, pictured above is a large, heavy-duty, screw-top seal storage unit (14” X 14” at base, 19” high):
After you have some coins / bars stored VERY close to you (at home), consider storing some at one or two additional locations away from your home. For one location, you can rent a safe deposit box at your local bank. (But keep in mind that the government could close the banks in desperation and limit your access or try to confiscate property. In the “bank holiday” during the Crash of 1929, banks were closed and people had no access their money or items in safety deposit boxes. However, after the banks reopened, you would probably be able to get back into these “safe” deposit boxes after an indefinite period of time.)
Another very good option is a non-bank secure storage facility. We are fortunate to have one in Bellevue, Washington, by the name of The Safe Deposit Center, known previously as National Security Centres. Address: 12000 NE 8th Street, Suite 100, Bellevue, WA 98005 Phone: (425) 455-8333. The facility is very large and can accommodate large art pieces, as well as statues, other large items and, of course, precious metals. The building is built into a hill (with offices for other businesses on the top and the secure storage boxes in a highly secure part of a massive concrete structure that seems impenetrable). Although it was built more than 20 years ago, it was state-of-the-art, utilizing the Swiss safe deposit boxes / hardware and a high-tech electronic access system with interlocking entrance and exit door chambers. The facility has 2,000 boxes of various sizes, video surveillance, four private viewing rooms and 15” thick concrete walls that enclose several rows of boxes. The quarterly rental fees start at $40 (5”H x 10”W x 18”D) and go up to $573 (50”H x 22”D x 36”D). They also have the capability to rent boxes anonymously for an additional $100. Note: You can easily store a large dollar amount of gold or platinum in the smallest box; silver requires more room. Their website: http://safedepositcenterwa.com
Access: Check to see their hours of operation for access to your box.
Insurance: It may be possible to get insurance through your own carrier.
There are many other private safe deposit / secure storage facilities (that are not controlled by the banks / FDIC) located all over the United States, many with the capability of providing secure storage with anonymity. Without attesting to their overall security, here is a list of others besides Safe Deposit Center in Bellevue, WA:
Delaware Depository (Wilmington, DE); International Depository Services (IDS) of Delaware (Newcastle); Charter Private Safe Deposit, Princeton, NJ; IDS of Texas (Dallas); IDS of Canada (Mississauga, Ontario); American Guardian, Las Vegas; Florida Intervault, Fort Lauderdale; The Vaults, Las Vegas, NV; 24/7 Private Vaults and Inwood Security Vaults in Dallas, TX; Los Altos Vault, Los Altos, CA; Security Center, New Orleans, LA; Safe Haven Private Vaults, Sandy, UT; and Safe Deposit Center LLC in Honolulu, HI. (Please let me know of additional companies / locations and your impressions of their service and safety so I can update this list from time to time.) Access: Check to see the hours of operation for access to your box. Insurance: It may be possible to get insurance through your own carrier.
Questions? Craig Rhyne (206) 719-6368.
I offer personalized service with privacy & competitive prices.
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I’ve been meaning to check in with you for the last year or so. How are
you? You never seem to get up to South Everett but if you do, stop and see
Ed and I at Everett Powersports. We sold the business to my son Mark and Matt Sterett, the Parts and Service Manager. This all happened in
January and February and Ed and I will be helping out through July.
Say hello to Denise also and in the next few seeks I hope to check in with