Three Rules for Keeping Your Silver Safe Part 1
This is the first part to a video series dedicated to offer some insight on how you can safely secure your silver stack
The goal is to present enough information for you to be able to make an informed decision and feel comfortable that you are choosing the right safe for your silver bullion storage needs.
We’re going to start with the three cardinal rules for keeping your silver safe.
If you like this video, stop by my SilverTorch66 Channel at https://www.youtube.com/channel/UC4lo... and check out my other content.
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As a stacker, we have to consider the safety of our accumulation of wealth and this becomes more difficult to do as our stacks increase in size over time.
Cardinal Rule #1 Maintain secrecy
As few people as possible should even know you are a stacker. The temptation to brag and show off our collections to friends and family is sometimes very difficult to resist but it is critical to maintaining security.
There should, however, be someone else, whom you can trust, who will know the location and might even may need access to it in the event you are geographically unable to retrieve it yourself. In the event that you become ill and are physically unable to collect it or worst case scenario if you die you wouldn’t want your silver to be lost forever! This is also a good idea in the event that you feel the location has been compromised. So that, your trusted counterpart can relocate your wealth to an already agreed upon secure alternate location.
Cardinal Rule #2 Once your stack gets big enough, separate it into sections and locate those sections in different secure locations. This way if one location along with one portion of your stack is compromised you don’t lose everything.
Separate locations could mean……..something as simple as different places in your home
Or Different locations in a local community, possibly with other family member or friends you really trust.
It could mean storing your wealth in another state were a trusted family member or counterpart is located.
Or if possible keep a portion of your wealth outside of the country you live in. This might be a difficult option for most….. but having some wealth out of the country may prevent the confiscation of your wealth while traveling. Or allow you to retain some of your wealth in the even you have to leave the rest behind or for whatever reason have to depart the country in a hurry and are unable to arrange immediate transport of your wealth.
Hopefully you will have a trusted partner whom you have pre-arranged for the transport of your wealth under emergency conditions when needed.
NOTE** You should never put your wealth in a bank vault or a safe deposit box. Under the newly passed Bail-in laws, any wealth within the banking/financial systems can be subject to confiscation by the government under certain conditions.
Cardinal Rule #3 Provide Physical Security your wealth
Make sure that your stack is as secure as you can possibly make it. Placing it in a safe that is the appropriate size and properly rated for your needs can enhance the security of your wealth.
Make sure that your bullion is stored in containers that are in an environment with reduced moisture and protect it from scratches, nicks and abrasions while being stored.
If warranted, an alarm system at the location of your storage sites could greatly deter the likelihood of theft.
And lastly if necessary…… be properly trained, equipped and prepared to physically protect your wealth personally.
Whatever that may mean to you.
Now that you know the three cardinal rules for keeping your silver safe,
its time to start figuring out How you implement these cardinal rules to ensure the security of your personal wealth. Check out part two of this video series entitled “What kind of safe do I need for my Silver Bullion.”
So here’s a question for you………Do you agree with these cardinal rules? What are your Cardinal rules for keeping your silver safe?
Let me know what you think, hit me up in the comment section below.
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Three Rules for Keeping Your Silver Safe Part 1 | |
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| People & Blogs | Upload TimePublished on 4 Jun 2016 |
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