@Airforcekid wrote:I have read against using a safety deposit box since in a bank run etc they would most likely be locked down therefore locking you out of your gold/silver. I use a vacuum container that removes all air to store mine its discreet looking and could still be put into a safe if needed. This is the article I read that made me interested in adding some metals to my portfolio. http://lenpenzo.com/blog/id25073-5-strategies-for-protecting-your-401k-savings-from-economic-collaps...
Realistically, what are the odds of a bank holiday directly affecting you? What are the odds of you home being burglered? Not pie-in-the-sky guess, but realistically. If you are storing at home, are you prepared to spend for a min.Class B or C or better yet a TL-15 secure safe? A 6 ft3 will run you min. $2500 for the basic security safe.
How much will your SDB cost you per year?
Now how about multiple locations for your stash so that you aren't cleaned out all at once in any kind of scenario?
Edit: I just read that op-ed piece that you posted. The writer obviously believes in scenario #1, whereas I am more in the type 3 scenario. But I noticed that in all 5 cases he is opting for only a 20% savings in PMs which means he is hedging his bets by not putting everything in one basket.
I would argue against some of his logic. He believes in a total collapse situation where the dollar disolves and the stock market goes to 0. That is a highly unlikely scenario. A market drop to 50% value, however, is not only logical but quite probable in a severe economic situation and 80% drop in a very severe situation is possible but going to 0 is not logical. Remember that in the 2008-09 crisis people lost between 25-40% in the markets before regaining. And in the mean time before the collapse you are still making more in the stock market than you are losing to inflation so if you believe in a more modest, probable crisis then a 50% drop after a 50% gain isn't exactly a bad deal either. Not saving anything in any medium but living paycheck to paycheck is the worst case scenario.
Another thing - I personnally think that foregoing the employers contributions in the 401k (RRSP where I live) is a fool's game. The market would have to drop 50% on its own before you lost all of your employer's contributions and you start losing out on your own contributions. That adivce he gives is just plain crazy!
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