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DGraham
04-14-2011, 10:08 AM
First time poster here, but have been lurking about for a while.

A question for someone who may know. In looking for a better place to cache my small but growing stack of silver coins and rounds, I am thinking of putting them inside short pieces of galvanized steel pipe, with a cap on each end, and keeping them in hiding places around the house. What are the pro's and con's of doing this. Any chance of some kind a damage to the coins - some kind of reaction between the steel and the silver - in doing this? Thanks for any information.

DanChan
04-14-2011, 10:24 AM
First time poster here, but have been lurking about for a while.

A question for someone who may know. In looking for a better place to cache my small but growing stack of silver coins and rounds, I am thinking of putting them inside short pieces of galvanized steel pipe, with a cap on each end, and keeping them in hiding places around the house. What are the pro's and con's of doing this. Any chance of some kind a damage to the coins - some kind of reaction between the steel and the silver - in doing this? Thanks for any info.

You might get some very strong toning. Or you might not. If you live near the ocean or in a damp environment eletrolytic reactions would be more likely.

Many people here like to keep their bullion very shiny, but I prefer old silver in its natural state, unless it's tableware of course. If they're old bullion, it might make them look more genuine, or it might look fake. Whatever. If anyone likes their silver shiny they can use "Blitz cleaning cloths" to take off any tarnish not removed by "Wright's silver cream" which is how i clean my coin silver tableware from the 1800s.

You'll probably get a lot of reactions to the thought that hiding "pipe bombs" spread throughout your house is a good idea. If you sell your houseand forget where one is hidden and a later owner finds it, the ploizei willbe calling in a bomb squad. I don't think you'd be civilly liable, but your name could end up in the papers if they figure out who made those fake pipe bombs to hide silver inside them.

Dennis G
04-14-2011, 10:34 AM
here is a post by me, with a link to a long thread...

hope that helps

https://www.kitcomm.com/showthread.php?p=1220244&highlight=dennis#post1220244

dennis g

coindog
04-14-2011, 11:06 AM
First time poster here, but have been lurking about for a while.

A question for someone who may know. In looking for a better place to cache my small but growing stack of silver coins and rounds, I am thinking of putting them inside short pieces of galvanized steel pipe, with a cap on each end, and keeping them in hiding places around the house. What are the pro's and con's of doing this. Any chance of some kind a damage to the coins - some kind of reaction between the steel and the silver - in doing this? Thanks for any information.

you kinda have the right idea but use sections of Plastic pipe with end caps. put them in the basement by the old paint cans and such junk as you have piled around or under sink behind cleaning supplies etc. if no basement.

DGraham
04-14-2011, 11:41 AM
I have a 'decoy safe' where some mostly low-value stuff is kept, and can and probably would be found by an intruder. This is the safe that I would open in case of the 'gun to the head' scenario. That, plus the fact that no one knows that I have the stack (except my wife and trusted son) is my first line of defense.

So the stack is divided and concealed in several locations including some of those suggested by you in a previous thread. The locations are duly noted so they will not be forgotten or overlooked in the future. As part of that plan I was considering use of PVC pipes concealed in various locations around the house (basement), but thought that, in case of fire, these could melt and create a mess. And I understood from someone's post that there probably would be discoloration over time from the PVC. That's why I am favoring galvanized steel rather than PVC. Any further thoughts?

callaway29
04-14-2011, 12:28 PM
Wouldn't home owners insurance or renters insurance cover any silver theft?

GoldvsDollars
04-14-2011, 01:23 PM
Wouldn't home owners insurance or renters insurance cover any silver theft?

Nope, take a look at your H/O Policy and it will most likely state it does not cover bullion, but would cover a collection such as stamps or the like, but you would need to add a rider to cover an extensive collection - the same goes for someone with expensive jewelry - they need to add a rider to their policy.

Dennis G
04-14-2011, 02:07 PM
I have a 'decoy safe' where some mostly low-value stuff is kept, and can and probably would be found by an intruder. This is the safe that I would open in case of the 'gun to the head' scenario. That, plus the fact that no one knows that I have the stack (except my wife and trusted son) is my first line of defense.

So the stack is divided and concealed in several locations including some of those suggested by you in a previous thread. The locations are duly noted so they will not be forgotten or overlooked in the future. As part of that plan I was considering use of PVC pipes concealed in various locations around the house (basement), but thought that, in case of fire, these could melt and create a mess. And I understood from someone's post that there probably would be discoloration over time from the PVC. That's why I am favoring galvanized steel rather than PVC. Any further thoughts?

I like the decoy safe thing too...but also have a gun hidden in the same room, so that should I get a chance, and the bad guy is focused on the safe, I can shoot him...

I like hidden safes, safes that are bolted to concrete, ensconsed in places where they cannot drag it out, or put a pry bar on it...

I also have an alarm system, which should cut down on the time they are there

but a determined bunch of thieves WILL get your stuff, if they know you have it there...

Me, I keep ALL my stuff in safety deposit boxes in various banks...

except for the stuff I lost in the boating accident.

Dennis G

Prospector
04-14-2011, 11:05 PM
Most attempts at security are symbolic. In practical terms they are merely billboards saying "I've got something worth stealing!" My house got burgled once and they never touched my stash, which was sitting on the floor in dusty cardboard boxes.

badfrog101
04-15-2011, 12:14 AM
If you are worried about damage, put your coins into airtites, and into larger pipes. Remove the floor molding from the wall, cut into the wall with a sawzall, stash the pipes in the cavity, and replace the molding. Problem solved. 99 percent of burglars are amateurs looking for thrills or money for a fix, nobody is going to tear apart your moldings unless they know something. So don't tell anyone.