Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

How to Store Silver Bars and Coins at Home

How to Store Silver Bars and Coins at Home

 

There are lots of reasons to buy silver—it’s a real asset, the coins are beautiful, it will likely outperform gold (and probably by a long shot), and it’s more affordable. But that affordability comes with a catch.

Once you start to accumulate, you quickly realize that silver requires a lot more storage space than gold. It’s relatively easy to hide some gold coins in a sock drawer or cookie jar, but those hiding places are impractical for the same dollar amount of silver.

So how do we store our silver bullion both efficiently and safely? And should it be stored at home anyway? This article has some potential solutions for those investors that are stacking silver…

 

Storing Silver Bullion at Home

Everyone should keep some silver (and gold) in a place that is easily and immediately accessible. One advantage bullion offers is its high liquidity in a period of crisis—no worries about bank closures, lack of access to funds, or internet problems.

So, if you have some bullion close by, you have the ability to fight through a crisis. On the other hand, if your silver is two days away or time-consuming to get to, its use as an emergency asset has diminished.

As I pointed out in my book, Guide to Investing in Gold and Silver, “I believe everyone should have gold and silver in his or her own private possession, where you can lay your hands on it, because they are one of the few financial assets that can be completely private and not part of the financial system.”

This doesn’t mean you should keep it inside your house. It means you want some of it readily accessible in an emergency, whether that emergency be a personal one or on a national scale. Here are the three factors to consider when storing silver at home:

1. Space and Weight Requirements

At today’s prices, dollar for dollar, you get roughly 70 times more ounces of silver than gold. On top of that, most silver is a lot less dense than gold. In fact, pure silver is 84% larger in volume than pure gold. Add those two facts together and it means that silver takes up as much as 128 times more space than gold for the same dollar value!

Here’s a couple practical examples of the difference: A one-ounce American Gold Eagle coin is about the same size as a U.S. $.50 piece, and can fit in your pants pocket along with your other change, keys, and cell phone. But, a one-ounce American Silver Eagle coin is significantly larger—your pants pocket would have to hold 70 of them and they’d weigh almost 5 pounds. The same is true with larger amounts: you can hold $50,000 worth of gold in one hand—but it would take 10 large shoe boxes to hold the same dollar amount of silver!

The difference in weight is also significant: $50,000 worth of gold weighs about 2.6 pounds—but the same value of silver would weigh about 189 pounds!

In other words, whether you’re dealing with coins or bars, you’ll need a lot more space to store silver bullion. It’s also more difficult, expensive, and cumbersome to transport.

The most popular form of silver is the one-ounce American Eagle coin. And the most popular order size is what’s called a monster box—a case of 500, 1-ounce coins, separated into 25 tubes of 20 coins each. A monster box measures 15” X 8.5” X 4.5”. Here’s how big that is:

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