What's going on with silver?

Discussion of the Gold portion of the Permanent Portfolio

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Cortopassi
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Re: What's going on with silver?

Post by Cortopassi » Mon Sep 17, 2018 8:25 am

Attic? What happens when the joists burn through and it ends up in the basement, spilled all over? I think the lowest level of the house is more appropriate.

Fire Rating
Fire ratings are evaluated by testing to see if safes withstand varying furnace heat for specific amounts of time. For example, the UL Class 350 1-hour fire rating means that the internal temperature of the safe will not exceed 350°F for at least 1 hour when exposed to external temperatures over 1700°F. A safe may have a 1-, 2-, or 3-hour time classification. Additionally, safes will be heated and then dropped from heights reaching 30 feet to test against explosions.
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Re: What's going on with silver?

Post by dualstow » Mon Sep 17, 2018 8:31 am

ochotona wrote:
Mon Sep 17, 2018 7:41 am
So if I got a monster box of silver, and hid it in my attic, how could I armor it so that it could withstand a fire? What kind of container would I have to put it into? What is the UL designation or whatever of such a box? Could I make one? Silver melts at 1763 deg F.

Would a broken mini-refrigerator that no one wants be a place to start?

{Genuine green monster box from the United States Mint. Dimensions are: 14.75" x 8.5" x 4.5". Holds up to 25 tubes for Silver Eagle coins.}
Never mind where silver melts. You don't want the plastic box melting all over it, right?
I feel like I read very recently that someone suggested a fireproof box inside a safe. I think that's what I would do.
Good news everyone: AOC and Maxine Waters are going to oversee Wall Street.
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ochotona
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Re: What's going on with silver?

Post by ochotona » Mon Sep 17, 2018 8:55 am

No basement. House on slab.
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Re: What's going on with silver?

Post by dualstow » Mon Sep 17, 2018 8:58 am

Can you store it at that cool place you posted pics of? The place where you bought gold in the past?
Good news everyone: AOC and Maxine Waters are going to oversee Wall Street.
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ochotona
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Re: What's going on with silver?

Post by ochotona » Mon Sep 17, 2018 9:56 am

dualstow wrote:
Mon Sep 17, 2018 8:58 am
Can you store it at that cool place you posted pics of? The place where you bought gold in the past?
Oh, my safe deposit box at Chappell Hill Bank? Yeah, well, they ran out of big boxes, there is no room in my small box for bulky silver, and I can't upgrade to another box... I guess I could get another box at another institution, though. Yeah, for a few bucks a year, maybe I should do that.
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Re: What's going on with silver?

Post by Ad Orientem » Mon Sep 17, 2018 10:12 am

ochotona wrote:
Mon Sep 17, 2018 9:56 am
dualstow wrote:
Mon Sep 17, 2018 8:58 am
Can you store it at that cool place you posted pics of? The place where you bought gold in the past?
Oh, my safe deposit box at Chappell Hill Bank? Yeah, well, they ran out of big boxes, there is no room in my small box for bulky silver, and I can't upgrade to another box... I guess I could get another box at another institution, though. Yeah, for a few bucks a year, maybe I should do that.
if you have a lot of PMs spreading them around is a good idea. I now have two SDBs at different banks. This was necessitated by my recent silver buys.
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Re: What's going on with silver?

Post by eufo » Wed Sep 19, 2018 5:23 pm

Obviously bury it in the backyard. O0
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Re: What's going on with silver?

Post by Ad Orientem » Wed Sep 19, 2018 7:36 pm

If I decide to do anymore speculating in silver I may just buy the SLV ETF.
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Re: What's going on with silver?

Post by dualstow » Thu Sep 20, 2018 4:02 pm

Ad Orientem wrote:
Wed Sep 19, 2018 7:36 pm
If I decide to do anymore speculating in silver I may just buy the SLV ETF.
Well, that fizzled out rather quickly. O0 And I don't blame you at all. I never planned to buy physical silver, period, but I couldn't help myself. If I look at the picture enough times while checking the spot price it might as well be something that lingered in my Amazon cart. Resistance is futile.

I plan to give most of mine away as gifts, like I did with my initial order (also paltry) a couple of years ago.

It's fun to visualize how much your total wealth is in gold ounces, silver ounces, and big macs, but without cheap and convenient storage, gold is the only thing that really makes sense to have in physical. IMO. You know, some of the thousands of Saudi princes probably have rooms full of silver and gold coins. Not for me.
Good news everyone: AOC and Maxine Waters are going to oversee Wall Street.
All should be well from here on in. O0 #stockscreamroom
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Re: What's going on with silver?

Post by Ad Orientem » Thu Sep 20, 2018 6:50 pm

dualstow wrote:
Thu Sep 20, 2018 4:02 pm
Ad Orientem wrote:
Wed Sep 19, 2018 7:36 pm
If I decide to do anymore speculating in silver I may just buy the SLV ETF.
Well, that fizzled out rather quickly. O0 And I don't blame you at all. I never planned to buy physical silver, period, but I couldn't help myself. If I look at the picture enough times while checking the spot price it might as well be something that lingered in my Amazon cart. Resistance is futile.

I plan to give most of mine away as gifts, like I did with my initial order (also paltry) a couple of years ago.

It's fun to visualize how much your total wealth is in gold ounces, silver ounces, and big macs, but without cheap and convenient storage, gold is the only thing that really makes sense to have in physical. IMO. You know, some of the thousands of Saudi princes probably have rooms full of silver and gold coins. Not for me.
Storage is indeed an issue. But for me the problem is more that I am fundamentally a gold guy when the subject is long term investing in PMs. I like silver on an aesthetic basis. I think it is actually nicer looking than gold. But from the investment POV the attraction is purely speculative based on the current rather unusual market conditions.
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Re: What's going on with silver?

Post by dualstow » Thu Sep 20, 2018 9:02 pm

Harry gave his reasons for phasing it out. That’s always been good enough for me.
Good news everyone: AOC and Maxine Waters are going to oversee Wall Street.
All should be well from here on in. O0 #stockscreamroom
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Re: What's going on with silver?

Post by eufo » Sun Sep 23, 2018 8:07 am

dualstow wrote:
Thu Sep 20, 2018 9:02 pm
Harry gave his reasons for phasing it out. That’s always been good enough for me.
Please forgive my laziness of not looking it up myself, but what were his reasons?

For me, the obvious ones are storage and portability. It would be difficult to conceal a large amount of wealth in silver.
Don't agree with me too strongly or I'm going to change my mind
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