ANSWERS: 5
  • The classic place? Under the mattress.
  • Bury it in the garden.
  • safe deposit box
    • Jewels Vern
      Banks have been known to steal the contents of safe deposit boxes. Clients have no recourse because there is no proof that the box ever held anything.
  • Not trusting "the" bank in this day and age is like not trusting those gosh-danged horseless carriages. Go ahead, hoard gold, just remember to sell it high like any commodity.
  • 6-16-2017 The only safe place to store value is to buy a commodity. Some people buy copper pennies and store them in a warehouse. Some buy land. Some buy precious metals and hide them at home. Banks are dishonest by definition, so you can't trust them to store anything.
    • mushroom
      If you bought gold in 2001, you did well. If you bought in 2011, not so well.
    • Jewels Vern
      I retired in 2006 and lived solely on the SS payment. After paying rent, I spent the rest of it on silver coins. The gold price then was 80 times the silver price. After a while the ratio went down to 45, so I swapped my silver coins for gold coins. Later it went back up near 80, so I swapped my gold for silver. I have done that swap four times, so my stash is now worth several times what I paid for it. Investing in precious metals is good because it is absolutely safe, you can learn everything you need in an afternoon of studying, you can find a dealer in the phone book, and you can take a position for just the cost of a coin.
    • mushroom
      As I said, buy low sell high applies as much to commodities as it does to any equity.
    • Jewels Vern
      You miss the point. You do not "do well" by considering the price in dollars. Among other problems, selling for dollars is subject to taxation. Trading one metal for another is not. Another problem is that the USD has lost as much value as the metal has gained, so if you are doing business in paper money, you lose no matter what you do.

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