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Why and How to Buy Bullion... Plus Where to Store It

Phoenix Capital Research's picture




 

 

In terms of storing your wealth or preparing for what’s to come, I think everyone should have SOME gold and silver bullion on hand.

 

How much you purchase is up to you. But you should have several months’ worth of expenses in gold and silver bullion. Why Gold and Silver? Because if the banks are closed or if paper money is worthless, you don’t want to be walking around with an ounce of gold (worth $1k+) to buy groceries. Instead, you will want some precious metals of smaller denomination to purchase/ barter with, hence the need for some silver.

 

Buy some of both now. I cannot tell you which broker to use, but whoever you work with, make sure that YOU store the gold/silver yourself (more on this in a moment) and that you buy bullion that is liquid enough that you can buy or sell it quickly.

 

In terms of actual gold coins, there are three coins that comprise the bulk of the bullion market. They are Kruggerands, Canadian Maple Leafs, and American Gold Eagles. I’ve been told to avoid Maple Leafs by both a trader and a bullion dealer as they can easily be scratched which damages the gold and reduces the coin’s value.

 

In terms of silver, the easiest way to get it is via pre-1965 coins (often termed “junk” silver). The bullion dealer I spoke to prices them at 50 cents over spot. However, you can also get silver one-ounce rounds (coin-like medallions) and 10-ounce bars, both of which can be bought at 95 cents over spot. You can buy Silver Eagles coins at $2.50 over spot, though the premium higher.

 

Again, I cannot tell you which dealer to go with, but look for someone who’s been dealing for years (not a newbie).  You should ALWAYS ask for references from the dealer (former clients you can talk to about their purchases/ experiences).

 

Some warning signs to avoid are dealers who try to store your bullion. NEVER, I repeat, NEVER store your bullion with someone else. ALWAYS store it yourself. Also, be sure to talk to the dealer for some time and ask him or her numerous questions about the industry, the coins, etc (feel free to test him or her on the information I’ve provided you with eg the three most liquid Gold coins, etc). If they can answer everything you ask in a knowledgeable fashion, their references check out, and you verify everything they say with a 3rd party, you should be OK.

 

In terms of storing your bullion, you can store it in a safe deposit box or buy a decent home safe from Target or Wal-Mart (or a specific safe store). If you go the safe deposit box route, make sure it’s with a bank that has as little exposure to derivatives as possible. 

 

Personally, I distrust safe deposit boxes because part of the reason for having gold or silver on hand is in case there’s a run on the banks or a bank holiday is declared. So I like the idea of having at least some bullion in a personal safe somewhere. You can get a decent safe for anywhere between $100 and $1,000. Both Target and Wal-Mart sell decent models for $50-$300.

 

On a side note DO NOT tell people about your bullion stash OR your safe. Trust virtually NO ONE with this information except your closest loved ones (and I mean CLOSEST).

 

This concludes this article. If you’d like more information on inflation and protecting yourself from it, we feature a FREE Special Report detailing the threat of inflation as well as two investments that will explode higher as it seeps throughout the financial system. You can pick up a FREE copy of this report at:

http://gainspainscapital.com/gpc-inflation/

Best Regards,

Graham Summers

PS. We also On that note, feature a FREE report concerning the threat of a European Banking Collapse. It’s called What Europe’s Collapse Means For You and it explains exactly how the coming Crisis will unfold as well as which investment (both direct and backdoor) you can make to profit from it.

This report is 100% FREE. You can pick up a copy today at:

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Sat, 11/03/2012 - 07:38 | 2943845 orangegeek
orangegeek's picture

Gold fell $40 yesterday.  The Euro tanked too. The US Dollar broke through resistance.  Remember the US Dollar is the currency for over 60% of the world's transactions.

 

http://bullandbearmash.com/chart/gold-daily-hard-today-hits-key-support-...

 

And gold stocks took a beating.  Gold priced in US dollars will likely continue to decline.

Sat, 11/03/2012 - 10:15 | 2943989 Non Passaran
Non Passaran's picture

Thanks for a reminder to add to my (gold) stash

Sat, 11/03/2012 - 03:09 | 2943745 e-recep
e-recep's picture

when the us dollar hyperinflation sets in (*rolls eyes* god knows when) it will be a whole new world. a bottle of antibiotics or a kerosene lantern might prove to be more valuable than a buillion of gold.

 

 

Sat, 11/03/2012 - 08:58 | 2943896 GubbermintWorker
GubbermintWorker's picture

Got those too :-)

Sat, 11/03/2012 - 10:07 | 2943978 RockyRacoon
RockyRacoon's picture

Funny how people think it's all-in with one philosophy, or nothing at all.  Actually most of us have our "buillion"s of gold snuggled aside some of the very commodities mentioned. 

Sat, 11/03/2012 - 10:18 | 2943993 Non Passaran
Non Passaran's picture

I always find it funny how these PM skeptics assume that gold bugs, out of all people, are less likely to be preppers.

Sat, 11/03/2012 - 02:52 | 2943738 John_Coltrane
John_Coltrane's picture

I store my gold like Michael Faraday would:  in colloidal form in my wine cellar (you all know colloidal gold is wine red not gold in color, right!)  That should fool any thiefs lacking a PhD in optics or nanoscience and lacking a working knowledge of Mie theory.

My only problem so far is accidently drinking it or serving it for parties and having guests complain about its lack of bouquet.  Fortunately, gold is inert and non-toxic and who hasn't wanted to take a dump full of nanosize gold particles?

As far a the "liquidity" issue that the author mentions:  Au and Ag are pretty low melting, so if you're used to making your own lead bullets (and who on this site isn't) melting and repouring to an appropriate weight (use your bullet molds) is no problem.  Not to mention having some Ag bullets on hand for vampire squids is always a good idea.

Hope these zany ideas add to the other hilarious ideas mentioned above.

Sat, 11/03/2012 - 01:15 | 2943666 Money 4 Nothing
Money 4 Nothing's picture

Make some quick money? Buy with both hands in January, dump it right before Feburary. Metal markets are running 3 months behind right now.

Sat, 11/03/2012 - 00:08 | 2943605 Atlantis Consigliore
Atlantis Consigliore's picture

foolproof;  cut the Aliens to store your bullion on the space mothers ship,

the mother ship is the one with the hookers with 40 DDD chests, who strip over the stash, on stage. 24/7.

they get 5% and all space particle weapons trained on the Fed.

no? your' s are better FOOLS,  

The only way is to establish a legal country and FED, and throw all the Crooks, flush the cockroaches out every 2 years. 

Sat, 11/03/2012 - 00:05 | 2943601 BanjoDoug
BanjoDoug's picture

I recommend (highly) APMEX.com...  good prices, reliable delivery (FedEx INSURED), etc.....

Buy some 1/10 oz Gold Eagles, and a lot of 1 oz Silver Eagles....  bury it in the Ball-Mason jar bank in the back yard, maybe under the cement steps... and never tell anyone, except maybe very, very trustworthy kids (in case you die unexpectedly), tell no one else and never hint you did this in any social environment, i.e. sunday school, PTA meetings, prepper mtgs, etc etc etc....  save it for the VERY LONG TERM, not for speculation over the next month....

Fri, 11/02/2012 - 22:03 | 2943444 Roger Knights
Roger Knights's picture

Here are a lot of ideas I've gleaned from several threads on this topic over the years:

===================

spiral_eyes

the best place to hide gold is where there's some other metal decoy to avoid detectors. washing machines are good because nobody will steal them. so are radiators. and hedge by spreading it around. determined thieves who know you have gold will get to it, your goal is to prevent them from getting to all of it. so unless you're in a compound and armed to the teeth, another important factor is making sure nobody around you knows you own quantities of metals.

legal eagle

Inside crown moulding...

hey.  great idea, gold does not rust ... put it in functioning hot water heaters.

seek

You're much better off salting with non-ferrous metal, since metal detectors can discriminate between ferrous and non-ferrous (gold, or brass or aluminum.)

So instead of nails, chunks of copper pipe, old brass and old aluminum cans would work better.

Also, metal detectors usually have terrible shielding on top of the search coil. So if the path of least resistant in the search puts metal above the coil, such as burying the cache below a metal fence gate, for example, it can really screw with the sensitivity.

seek

Multiple locations in geographically separate areas all under immediate control. The odds of someone getting one stash are pretty low if it's hidden correctly, the odds of hitting even half of them are infintesimal. This works in most situations, even if you have to get out of dodge, assuming one of the other places is a destination.

Either have more than one safe, one of which is well hidden, or if you only have one, PMs don't go there.

It helps to look poor or like there's nothing valuable, my bet is crooks would be far more likely to try to force open a safe in a $2M house with a ferrari in the driveway than they would dig with a shovel under a single-wide.

Oh, and silver is much harder to hide than gold, that shit is bulky.

Hugh Jorgan

In your childtrn's rooms among their shit. Bad guys dont look there.

X.inf.capt

Well, if you want to know...

You can stash stuff the way the homeless vets say they cache items

Step 1. Go to a bakery and get 4 or 5 two gallon icing buckets...for free!

Step 2. Put precious items in 1 bucket, seal with duct tape, bury in ground.

Step 3. Find 3 or 4 dead small animals (roadkill), put 1 in each of remaining bucket, add hand full of washers, and some water. Duct tape REAL GOOD, bury in ground around bucket #1.

If some poor sucker digs one of the BAD buckets, espeasally after 2or 3 months, I don't think he’ll be looking any other buckets....

They also use the bad buckets for people or things who piss them off...

Yeah, these guys play rough, too rough for me to think about getting on their BAD side...

WebWeasel

A wise man once told me that when digging a hole most people stop when they find a dead horse. Ok, so it was about hiding a body but it applies to PMs too.

Bendromeda Strain

kotulas.com has both fake books and a pretty nice looking mantle clock with fold down face that will hold a .357 revolver. You can put some serious gold in there I would imagine.

Fred C Dobbs

A gold bug told me something similar.  He said attach your gold to the wall under the sink in the kitchen or bathroom and cut a piece of dry wall to put over it.

Vato poco:

4) If you're robbed by some random jerkoff looking for a cheap score, *Do Not Hide Your Metals in The Master Bedroom!!* a) that's where they look first b) there are some crews - including a famous one in Phoenix - who broke/cut windows (Thus no sensor triggered) into high-end master bedrooms, and burgled ONLY the MB. ALWAYS lots of jewels, TV's and guns in an MB. Never even went into the rest of the house. Why? Because *Nobody has a motion sensor in the MB*, that's why.

5) If they DO go into the house, they WILL look in the freezer, toilets and dump the bookshelves. So forget about those.

Roger Knights

Leave a document with your lawyer, to be opened after your death and delivered to a specified party, revealing the location of your stashes.

seek

Two documents with two lawyers, one is the key to decode the other. Lawyers aren't necessarily trustworthy.

Temporalist

People these days can just leave GPS coordinates and a description of the "spot" that is marked X.

honestann

The answer in one acronym: GPS.

No, not the automobile kind, one of the aircraft or vessel types that displays longitude, latitude and altitude.  Find extremely remote places in the boonies, bury your stash 1 to 3 meters deep in extremely well sealed pipes or containers, then write down the coordinates in some other misleading format (a series of telephone numbers, a series of social-security numbers, a series of car VIN numbers, a series of insurance policy numbers, whatever works for you - and write the digits in reverse order too, and/or offset the digits by the first n primes, or whatever you will surely remember but nobody else could ever guess.

Leave half the information required to find your loot with one trusted friend, or better yet arrange for the information to be delivered upon your death.  Arrange for another trusted friend to get the other half of the information required to find your loot upon your death.  Neither should know or expect anything before then, and most importantly neither should know each other, or even know of each other.

Harlequin001

or maybe held in a private vault offshore and away from the banking system, somewhere where you can sell it in small quantities and exchange it for cash, and send it back in whatever small amounts you need, as and when you need it...

You wouldn't even need to buy a shovel.

WebWeasel

You can make your own book safes pretty easily. One link of many: http://blog.makezine.com/archive/2010/10/make-a-secret-hollowed-out-book.html

Cindy_Dies_In_T...

http://www.survivalblog.com/storage-spaces/

Page down and learn how to properly hide your cache. Metal detectors and equipment can still find some of these, so plan accordingly.

Species8472

Under the fluffy insulation in the atic.

jhanders

Brink's Salt Lake City

Via Mat Miami

First State Depository

Cube Global Storage Canada

Brink's Hong Kong

Via Mat New York

Via Mat Frankfurt

Via Mat Zurich

etc:

http://everhedge.blogspot.com/2011/05/silver-and-gold-vault-storage-opti...

http://goldsilver.com/article/the-benefits-of-a-segregated-gold-vault-ac...

This is why you use a 3rd party private vault like Brink's Salt Lake City, Brink's Hong Kong, Via Mat Miami, Cube Global Storage in Canada, etc.

mess nonster

Complicating considerations...

1. Gold shouldn't be hidden so well it's hard to get to when you need it.

2. It shouldn't be hidden in large quantities, because you probably won't need it all at once, just a little at a time. If you keep going back to the same place over and over again, someone is bound to notice.

3. Dispersing one's hiding places also makes it less likely that all one's gold will get kyped at once. Another advantage is that if someone decides it will be good fun to torture you with a hot road flare until you tell them where your gold is, you only have to tell him/her abut one of your stashes. Then you can dig up some of the rest to pay the doctor.

4. The downside to lots of hiding spots is that you might forget some of them, and that you increase the liklihood that someone else will find some of your gold.

5.Aside from such practical considerations, there is the Big Thief to worry about, the government. If you purchased your gold through some traceable transaction, eventually the Confiscation Police will be asking you where your gold is. If you can't account for it, then it's off to Club Fed for your 700 calorie a day gulag slimming and toning exercises. A lot of good your gold will do you then.

6. Once people know you have gold, and that you are willing to exchange it for food and other neccessary items, the prices you will be charged will approximate your desperation. Sure, I can sell you a loaf of bread ... that will be one krugerand, (or five), please! So, it will be stolen from you, one way or another.

buyingsterling

If you buy online, the government knows you have it, somewhere. If this system is as evil as some think and things get bad enough, the feds may provide lists of addresses to free agents, offering to split the loot. And a total collapse may mean ruthless local 'authority' which will go door to door.

If guns fail or you're caught by surprise (it happens), you can be sure that if the invaders believe you have gold, they will extract the information from you or kill you trying, human life will be cheap. If the invaders have their act together, they'll know how to determine if something is real gold (child's play), so a stash of fakes is a good idea, but know when to use it. Multiple stash locations are ideal, but they may still find a way to extract it all from you. The grim best outcome may come from making it virtually inaccessible - buried under something very heavy; slant drilling under your foundation is an option, or encased in the brickwork of your chimney. That at least forces them to work to get it, work that may be interrupted, God willing.

Other places, fractional gold is always best for hiding: Inside dooknobs, inside metal table or chair legs, inside electrical outlet boxes, inside the plunger bulb in an unused toilet (works best with a baggie of cash in the tank with it). Key elements are: proximity to other metals, not inside of anything that might be stolen for other reasons, variety, and for long-term holdings, inaccessibility.

Smiddywesson

Add an extra post to your deck.  Make sure it matches the others.  Plant your gold under the "support" with a thin veneer of concrete.  Nobody is going to dig up a "footer" to explore a metal hit on their detector, especially if you gave them plenty to do by drivin railroad spikes all over the yard.

Grimbert

I heard of someone who bought a pair of second-hand curtains at a charity shop. When they unpicked the hem to take them up, out fell a row of gold sovereigns - they had been used as weights.

Other good ideas are inside plug sockets or light switches - UK ones have lots of empty space inside. Or hollow out the top of a door. Or inside the back of the washing machine.

Goldbricker:

Go into the auto junkyard business. Not only do these prosper in hard times, but there's loads of heavy (needing a forklift) metal stuff around, under which you can put any metal object you please without fear of detectors.

Mr. Mandelbrot

My grandfather had a friend that bought a farm with several bee hives.  The bees were long gone.  When he went to put them in the burn pile, he found $300,000 cash in one (this is circa 1960ish).

DeadFred

Around, behind or inside something metal will help. A good detector can distinguish gold from steel but the operator needs some skill. At least you'll know your treasure went to a high class thief.

Smiddywesson

I met an old man whose dad was a bootlegger and they were once raided by the USG immediately after selling some moonshine.  They never found his stash, which was in the hot water heater.

He told me charcoal layers over a buried stash hides it from metal detectors.

He also told me that the best place to hide things is where it takes a lot of energy to move things (like casks of nails, machinery parts, greasy stuff), because police don't like to get hot or dirty and neither do thieves.  His reasoning was if they were willing to work, they wouldn't be cops or thieves.

CuriousPasserby

Local coin dealers can be great, but I like coin shows. We have six a year in driving distance. Sometimes with 100 or 200 tables. Buy some from each of a few dealers for cash. If you want to buy a monster box (500 silver 1 oz) then buy $5000 gold at a few tables and trade for the box. No $10,000 cash reporting.

Pseudo Anonym

depends how much gold you got - buy a used car, stuff it into the engine (cylinders, oil pan, etc.) and dont drive it.

fellatio is not...

We actually wrapped them tightly in tin foil and painted them to look like a standard brick, than built a planter out the back door 3 high and 11 round, in a "U" shape, put dirt inside the planter and a small plant  :) it's in a place on the patio where it won't get stepped on or kicked, we water the plant and see it every day, as do guests who have NEVER even looked twice.

buyingsterling

If you live in the country and you want ultimate security for the _long term_ part of your gold stock, open the valve to your septic tank and drop it in. This will keep you from selling it until it's absolutely necessary, and will deter all but the most determined thieves.

reply

Mon, 10/10/2011 - 03:23 | boiltherich

Right, till you go on vacation or otherwise out of the country for a bit and the tank overflows so your house sitter has to call a septic service to come empty it.  Or you just forgot you put it down there till you see the truck driving away.  Though if it were in a container too large to get sucked up the cleanout pipe it would stay pretty secure I guess.  Just as long as it is not one of those fiberglass tanks shaped like a submarine, those are known to pop out of the ground and float away in floods.  This is the best suggestion so far, but it is still not perfect.  I think I would have it rigged so that there was a discreet line secured near the cleanout hole you could catch with a hook, no way am I going into one of those tanks to feel around for a cache.

Monedas

Throw some your Gold coins in the Septic tank....they will sink to the bottom and lie flat ! When pumping the tank fit some galvanized rabbit cage wire over the mouth of the hose as an over kill precaution ! Monedas 2011 Pearl Divers Syndicate 

turkey george palmer

many interior doors are hollow, you can cut a slot in the top of them an inch wide and 4 in long. you can put itms in bags or something attaching the bags to fish hooks on fish line dropping them down in the door from the top. tie the line at the top.

Banjo

Gold is tiny if you have brick walls or tiled floors lift gouge out some room glue the gold in and cover over with tile or cement.

Rule one as above never tell anyone where you store your metal, have more than one location and have a fake stash around the place.

For example have 500-1000 worth of stuff cash/cheap jewelry etc they can get into and out of real quick, don't even let them want to hang around trying to find more.

Mon, 10/10/2011 - 05:43 | Nassim

Bury it under an existing water pipe - no need to go 4' down.

digalert

You can thank a friend for theft. Many times people get robbed by friends or aquaintances, why? Because they know what you have and where you keep it.

Remember the rule of three. You tell three people, then they tell 3 and they tell 3...and it's no longer a secret. Keep your mouth shut.

If/when the revenue man comes, have a small offering set aside showing that you are a compliant serf.

reply

Mon, 10/10/2011 - 07:30 | s2man

True.  My only thefts, that I know of, were by aquaintences, friends of friends.

by Doña K

The silver drawback is the price to weight ratio when you're on the move.

A 5' long 1-1/4"D PVC pipe full of 1oz. of gold maple leaves = $1 Million - Painted dark gray in a roll bar of your Jeep or in the kitchen plumbing under cabinets and a thousand other ways to keep it close when you have to.

Roger Knights:

Here's a new one. Inside a fire extinguisher, with tightly packed cushioning to prevent noise if shaken. Few thieves or gov't. agents would think to look inside one--or know how to do so safely.

I recently learned that home fire extinguishers can be decommissioned (for safe disposal) by SLOWLY unscrewing the plastic top until the nitrogen inside starts to hiss out. Just let it hiss until it's all gone, then undo all the way and shake out the powder.

However, the narrow necks on these devices means they will accept only fractional gold coins--small fractions. (But that's another reason why thieves won't look there.)

Some of one’s stash could be stored in a rented self-storage unit, hidden inside a bulky, heavy, badly worn (scratched, dented, rusted, missing-a-part, etc.), low-value item.

----

A good place to hide gold is inside the fence-post of a chain-link fence. (Optional: This can be on public property. And many different posts on different sites could be used, for diversification and safety in case one of the fences got taken down.) Pop off the cap by tapping a screwdriver under its edge with a rubber mallet.

Then lower down a Coke can with a sawed-off top and a bail-handle (from an old coat hanger) through two punched holes near the rim, (Optional: drop in a few empty Coke cans first, to simplify retrieval.) Retrieve with a hook made from a coat hanger.

Credit: The book, "How to Hide things in Public Places" by Dennis Fiery.

Sat, 11/03/2012 - 07:10 | 2943834 negative rates
negative rates's picture

All that is fine, but what do you do if you have to leave in a hurry, and I mean like in a hurry, like about take what you can in an hour, and hit the road type survival? it took me me half that long just to read your post.

Fri, 11/02/2012 - 21:57 | 2943436 americanspirit
americanspirit's picture

any home invader worth their weight in shit knows about decoy safes. You have a gun to your head, or your wife's or kid's head, and you give up your decoy safe under the bed. A few rolls of coins and some other shit come rolling out. You then have a really pissed off home invader who knows they're being shown a decoy. So you have a second decoy safe where you really have some of your gold and silver - maybe 10-20%. You also have a webcam in the safe that is set up to instantly send a photo of anyone opening the safe to a secure website. So when you have boo-hoo'd enough and let the bad guys into your second safe behind the wall, you let them see the webcam and tell them that at this point they have only a robbery charge potentially hanging over them - their ugly mugs are on the internet and murder is something they may not want to deal with. 50-50 (or better) they decide not to off you and your family, take your shit, and leave. Meanwhile most of your stash is secure in that third safe. You and those you love may be bloody and in pain but you are not dead and most of your wealth is intact.

Oh, and anyone who thinks that the IRS doesn't troll websites like ZH looking for evidence of people concealing silver and gold better think twice before making clever remarks about tragic boating accidents.

Sat, 11/03/2012 - 10:26 | 2944016 Non Passaran
Non Passaran's picture

> You have a gun to your head, or your wife's or kid's head, and you give up your decoy safe under the bed

Keyser Söze, bitchez!

Sat, 11/03/2012 - 00:31 | 2943633 Dr. Sandi
Dr. Sandi's picture

If the IRS believes the crap they see here, then they must also believe the average ZHedger is a multimillionaire landowner whose dick is 13 inches long and thick like a Louisville Slugger.

And perhaps that's why they're so surly, with feelings of inadequacy.

"Your honor, we have written testimony that the defendant has several thousand ounces of hidden gold. We can only find 10 ounces of it. And we also have written testimony that he has a 13 inch penis. We demand that he produce the other 7 inches."

Sat, 11/03/2012 - 05:38 | 2943803 cossack55
cossack55's picture

Pretty funny, Doc.   I think you may have over shot the mark on an IRS thugs use of the English language though.

Fri, 11/02/2012 - 21:03 | 2943368 jumbo maverick
jumbo maverick's picture

My 11 year old son showed me how to open one of the chepo safes without knowing the code and not using tools, it was one of the electronic ones. I was pretty impressed. Find a good place to hide your metals. Most of the sheep can barley walk on their own so if you hide it good they won't find it.

Fri, 11/02/2012 - 20:37 | 2943322 fasTTcar
fasTTcar's picture

As an actual bullion dealer, i have some issues with the above article.

Instead of rehashing some of the points, many voiced by the previous posters, let me just explain the real reason for owning gold or silver.

It is NOT that it is going to be worth more dollars, euros or yuan.  If gold is $5000 and bread is $10, the ratio is still pretty close to what it is now. 

Gold and silver are very LIQUID savings and will retain the BUYING power in dollars, euros, or yuan. It buys the same amount of stuff anywhere in the world and has for 6000 years.

However, when it goes crazy, it will vastly overshoot, and many will trade out for something else (farm land, oil, even dollars).

Regardless, it is wealth.  The SHTF scenarios are just a bonus by product of real wealth.

Sat, 11/03/2012 - 00:06 | 2943606 RockyRacoon
RockyRacoon's picture

Silver is for trade/barter/purchases of needed items during the turmoil.  Gold is for carrying wealth forward to more stable times.  Hence, the "store of value" term.  I, too, am a coin dealer.  It's amazing that the level of ignorance about PMs is as high as it is amongst the general population.  That's why so few will survive with whatever wealth they have accumulated.

Fri, 11/02/2012 - 20:10 | 2943285 Manic by Proxy
Manic by Proxy's picture

My PM's are stored on on old boat where the bilge pump runs 24/7. So that's pretty safe, right?

Sat, 11/03/2012 - 02:04 | 2943703 Vigilante
Vigilante's picture

Good luck with using silver as barter during a 'collapse'.

The news will circulate like wildfire and the zombies will be out for blood

Your blood....

Stupid Americans

Sat, 11/03/2012 - 09:46 | 2943930 Metalredneck
Metalredneck's picture

Sanest post so far.

Sat, 11/03/2012 - 01:18 | 2943672 Money 4 Nothing
Money 4 Nothing's picture

As long as it isn't moored off the coast of Gemany, than yes.

Sat, 11/03/2012 - 00:24 | 2943628 Dr. Sandi
Dr. Sandi's picture

Damn straight. And if the power goes down, then just keep looking down and smiling.

Fri, 11/02/2012 - 19:48 | 2943253 rfwashere
rfwashere's picture

Ok.  We get it.  Yes, buy gold.  Yes, buy silver.  Recognizable coins are good - check!  Buy a 'cheap' safe and put your stash in that safe - BULLSHIT.  Put your stash in a 'safe' deposit box at your bank - BULLSHIT.

WTF?  Of course we should buy gold and silver - lots of it.  But putting it in a cheapo Chinese safe from Walmart or Target???  What a load of crap.  If you want to secure your stash, get a used TL-30 burglary rated safe at a minimum.  Hide it.  Get a cheapo safe from Walmart/Target and put it in your closet or somewhere it will be easy to find and load it with rolls of pennies, lead, bricks, whatever - it doesn't matter because that is your DECOY safe.  Got it?  DECOY?

NEVER and I repeat...NEVER put ANYTHING of value in a "Safe" Deposit box at your bank.  Do your homework and look it up.  The ONLY safe place for your stash is in YOUR possession PERIOD.  Hide it in your garden, hide it in your shoe, hide it anywhere you want but don't put it in a cheap safe and expect it to be safe and secure.

TL-30 and TL-30 6x6 safes are insurable and virtually impregnable by the average criminal.  The smart thing to do is hide such a safe as much as possible - behind a wall, encased in a piece of furniture, anywhere it won't be obvious and easily found.  Then use a cheapo DECOY safe that is easily found and that you can give up.

In my decoy safe, I have rolls of nickels, quarters and half dollars.  I also put a handful of junk silver coins in the top drawer.  That way, any thief will think they hit the mother lode - I hope.  My main safe is an old Mosler TL-30 and it is hidden behind a false wall in my workshop.  The false wall has pegboard on it and a bunch of tools hung on it.  I also have quite a bit of food, ammo and fuel stashed there as well as some serious weapons.  Water isn't a problem around here.  FYI, I have a DECOY stash of some food that is all wrapped up and partially hidden in a bedroom closet so that it could be found by thieves.  Google false wall plans for some ideas on how to build yourself a false wall in virtually any room.

Better to give thieves what they want - my DECOY safe, a little DECOY food and some oddball DECOY ammo - than give them my true stash.  I also have guns hidden really well all over my house, in my workshop and in my truck.  I also carry all the time.  So I think I am somewhat prepared.

If/When SHTF, all rules go out the window - so be creative, think outside the box and use COMMON SENSE! Don't make yourself a target and in the sad event you become a target, hopefully your decoy stash of a little food, some useless oddball size (cheap) ammo, a few silver coins and some rolls of nickels and quarters will satisfy them.  They will probably think they hit the mother lode and cleaned you out - at least that's the idea - right?

Sat, 11/03/2012 - 07:05 | 2943832 negative rates
negative rates's picture

I lost 3 squirrells one year, I had a bunch of too, prolly too many. Now I wax seal a jar and have only about 5 hideaways, 3 easy and quick to get at. 2 no so easy to get, and larger to boot. If you live city style get creative in the state forest, that's where the big stash is located and preferably only accessable during good weather. If you walk on snow, you can not hide your footprints.

Fri, 11/02/2012 - 19:39 | 2943244 petolo
petolo's picture

This is the second time Graham has posted this. He is still misinformed and ignorant. When he tells us where he stores his gold, i might take more interest in his offerings.

Fri, 11/02/2012 - 19:28 | 2943218 PenGun
PenGun's picture

 I will find your safe somewhere in your house. You will never find my stash. No safe, just a plastic jar, stashed somewhere in the thousands of acres of bush around me.

Sat, 11/03/2012 - 00:23 | 2943625 Dr. Sandi
Dr. Sandi's picture

Just as long as YOU can find it and the neighbor's dog can't. That's all that really matters.

Fri, 11/02/2012 - 19:19 | 2943197 jonjon831983
jonjon831983's picture

Hmm... vaguely recall wasn't this posted 3 weeks ago?

Fri, 11/02/2012 - 19:18 | 2943196 DYS
DYS's picture

Graham Summers...  the most trusted name in pre-teen investment strategies.

Fri, 11/02/2012 - 18:22 | 2943076 fijisailor
fijisailor's picture

Nice coordinate smackdown in PMs on Friday before the election.  Time to stack ZHers, before the post election takeoff.

Fri, 11/02/2012 - 18:21 | 2943073 Tombstone
Tombstone's picture

OK, so if I have some gold or silver,  and there is a major crises,  what will stop the government from comfiscating it?  Does anybody trust those bozos to allow anything to count as money other than worthless dollars?

Sat, 11/03/2012 - 00:22 | 2943622 Dr. Sandi
Dr. Sandi's picture

Don't tell them about it. If THEY have no reason to think you have stuff worth taking, they won't bother trying to take it. And if they're going door to door looking for donations, we're all totally screwed to the point where a personal stash of PM won't make a diddle of difference anymore.

Fri, 11/02/2012 - 18:49 | 2943136 fijisailor
fijisailor's picture

What will stop them?  If you have any balls you will put it in a place they can never touch.  You have the power over your own life and investments, not the government.  Time to act and stop talking.  Your future is on the line.

Fri, 11/02/2012 - 17:36 | 2942920 No Euros please...
No Euros please we're British's picture

Spooky, I thought I read this same article 2 weeks ago. Maybe it was just a dream and maybe I should subscribe to phoenix capital to get the real truth that I am missing in my life.

 

Fri, 11/02/2012 - 19:31 | 2943224 Papasmurf
Papasmurf's picture

I had the same feeling of deja vu.

Fri, 11/02/2012 - 17:36 | 2942915 DosZap
DosZap's picture

Amazing this was put on ZH, of all sites.

Fri, 11/02/2012 - 17:37 | 2942912 willwork4food
willwork4food's picture

ATTENTION ALL LOYAL ZH'S!!

As a pre-holiday gift to you, my friends @ ZH I have secured a highly secured place for all your gold and silver for a six pack of Heineken per month!

Even if they shoot the dogs, they still have to get by my shed's  ultramodern security system.

Don't delay!

Fri, 11/02/2012 - 17:10 | 2942803 Tango in the Blight
Tango in the Blight's picture

Cast your PM's into bullets and shoot yourself in the head with them.

Fri, 11/02/2012 - 17:03 | 2942763 pies_lancuchowy
pies_lancuchowy's picture

now , where is that hilarious 'LeMetropole' dude who claimed 3 months ago that 'thanks to his sources in New York' he KNOWS that silver price will DOUBLE in 3 months? Come on, get out of the hole, be a man !

Fri, 11/02/2012 - 17:15 | 2942820 Silver Bully
Silver Bully's picture

'now , where is that hilarious 'LeMetropole' dude who claimed 3 months ago that 'thanks to his sources in New York' he KNOWS that silver price will DOUBLE in 3 months?'

Careful. I'm not saying the Le Metropole dude is right. But Silver is one very volatile bitch. You have to look at the DMA's instead of daily price. Even then, it can turn on a dime (been there, done that, bought the tshirt wardrobe). In fact, that's much of the allure of silver over gold. The volatility can produce some serious gains. And losses. Just depends on knowing which way it'll go from day to day, week to week. Good luck with that.

In other words, the week after the election is over, all bets are off (and not just on silver).

Fri, 11/02/2012 - 21:29 | 2943398 klockwerks
klockwerks's picture

Bully, why a week after the election should the price change much

Sat, 11/03/2012 - 00:00 | 2943594 RockyRacoon
RockyRacoon's picture

http://www.jsmineset.com/

Gold Market Overview From An HFT Perspective November 2, 2012, at 7:46 pm
by  

Jim,

Here is an overview of market action for gold longs from a HFT perspective. If you plan to trade on my information, then the trade is: Buy physical gold. Any HFT worth their salt (or silicon) already knows what I have written here.

TAKE HEART GOLD LONGS, THE PAIN IS ALMOST OVER. The next leg of our journey takes us to $1800 and over, probably in time for Christmas. The best advice I ever received in gold is: “Your emotions are always wrong.” This was from a highly skilled trader named Jim Sinclair. Thank you, Jim.

Here is what is going on:

Market releases are important, and NFP is the most important.

NFP (non-farm payrolls) is the most volatile of all data releases. Every HFT (algo and human) trade it. The high risk trade is to short bonds or long S&P prior to the release. The HFT method is to close your position pre-release and have your finger on the mouse ready to pounce. Failing that, the human method is to fade the spike and profit from mean reversion.

On a ladder, you can see 1 min before a data release that orders are pulled and volume is barren. As the data is released, algos get it first. They slam orders into the market. A second (or less) later, humans add to these orders at market and the algos sweep their profits. This drives the price as stops are crossed and slow traders enter.

For this NFP release, everyone knew the data release would be the same as October. It’s an election year. The number may be revised in a week or 2, but that won’t matter after the election.

Knowing in markets is a powerful thing. Most trading is guessing and hoping, so knowing is a comfort rarely experienced.

When the release happens, the gold market got slammed. The previous day, traders were pulling their longs from $1725, causing the price to drop. For the release, the shorts know that longs have stops under $1700. This is a human “line in the sand”. So the goal is to cross $1700. You can see the stops trigger to $1696. From there, longs feel the pain and close positions, allowing the shorts to hit the price again into the next level $1678. These were the levels in my last email, and nothing has changed. The short goal is $1650, but won’t get a chance to push $1650 and here is why:

China demand. The Chinese government has encouraged it citizens to buy gold. This is a saving culture with little faith in governments and currency. These avid savers have already bought large amounts of gold and will be buying more under the assumption that “If the price was good at $1750, then it’s great at $1700!” This is how value buying works.

Come Monday, Asian value buyers will be into the market. Some may want to try to get $1650 prices or wait until Tuesday to get a better price, but will quickly snap up gold as they see the price start to go up. These physical buyers will be buying on as the price starts to press $1700 for fear of missing this BREIF pullback in price.

CIGAs should also be value buying at these levels.

On Monday, shorts will try to breach $1678. They may get it to fall (briefly) but that level won’t hold. Spec shorts will be closing positions and adding longs at these prices. Spec shorts don’t want to get caught behind the wave of big money value buyers. High volume VALUE traders will be back into the market on Wednesday, after the election smoke clears. These traders will be snapping up every pullback of gold, knowing they can reap a big profit before the end of the year. This starts the gold run to $1800 (short term, ie Christmas) and $2000 close behind. $2000 is a low estimate with a looming fiscal cliff and rabid money printing.

It is an election week. All eyes (news coverage) will be on the election, with real news hidden in the folds. No matter who wins, nothing will change.

If Obama wins, Bernanke will continue QE as normal, secure in his job. If Romney wins, Bernanke will increase QE in an attempt to keep his job. Either way, the printing press rolls on devaluing in the dollar and increasing the book price of hard assets. Markets know this. Knowing something in a market is a strong motivator.

There is NO scenario short of an election coup d’état of congress that can stop the presses.

If you are NOT buying gold at these prices, you have NO insurance for what is to come.

If you are long physical gold, turn off the tape and come back to it on Thursday when this paper BS is over.

Jim, thank you for all of your wisdom and advice.

Cheers,
CIGA Henry (HFT)

Fri, 11/02/2012 - 17:55 | 2942990 pies_lancuchowy
pies_lancuchowy's picture

Careful? Tell it to LeMetropole, not to me. It's him who allegedly KNEW silver was going 100% up in 3 mo. I don't know %@#. I strongly suspect it's going 500% up in a decade, but I would never say it's guaranteed.

Fri, 11/02/2012 - 16:59 | 2942749 DRH
DRH's picture

Anthing you can buy at target or walmart for under $300 is not a safe and could hardly be called a RSC (residential security container). Brute force entry with tools to one of these "containers" could be done in a few minutes by the unskilled and untrained. Unless a real layered security approach is considered you would be better to buy one of the suggested "containers" leave it as a decoy with some bricks in it for weight and hide the gold and silver creatively elsewhere in the house.

Sat, 11/03/2012 - 07:49 | 2943854 Winston Churchill
Winston Churchill's picture

Exactly. Anyone rifling my house will waste a lot of time opening a safe full of

paperwork.Lost all mine in a tragic gardening accident.

Remember,deeper than 30 inches,beyong metal detector range.

If they bring in GPR your phucked anyway.

Pleasant gardening.

Fri, 11/02/2012 - 16:00 | 2942520 JohnFrodo
JohnFrodo's picture

I question CDN Maples being more fragile than the others. Gold is Gold, or does the Cdn gold differ?

Sat, 11/03/2012 - 00:55 | 2943652 stacking12321
stacking12321's picture

that's a normal question for a gold investor to ask.

however, you are correct, Cdn gold comes from a colder climate, and hence is more brittle and tends to chip and scratch more easily.

now you know.

 

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