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Storing Silver at Home

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Silver bullion typically does not need special treatment when it comes to storing at home. Many people are able to store their silver in a basic hiding place somewhere around their house.

Finding a place in your home to store silver does not need to be complicated. Simple is better, most of the time.

Some common hiding places that people choose may include places where other valuables are stored. Such as the drawer of a nightstand or desk, a bookshelf or a lockbox.

There are many options for storing 1 oz silver rounds at home. One of the easiest option is a plastic storage tube designed to store silver coins and rounds that has the same (or similar) diameters as the coins. These are similar to the plastic coin tubes that are used by the US Mint for silver eagle packaging.

Storage tubes are made from molded plastic that is specifically shaped and sized to fit specific coins and rounds based on their dimensions.

Many of the modern 1 oz silver rounds that are released by private mints are 39 mm in diameter. You can measure the specific silver rounds in your collection to ascertain the specific dimensions. Finding storage tubes that are the right size for your silver rounds is as easy as searching on Amazon or eBay.

Many reputable coin supply vendors sell their products through various online marketplaces to make it easy for collectors and investors to easily locate the items needed to protect your investment.

Plastic coin tubes are also available in rectangular shape that are designed specifically to hold up to twenty 1 oz silver bars. The compact size and shape of these coin tubes make it easy to store up to 20 oz silver in a small amount of space virtually anywhere in your home.

At Home Safe or Lockbox

Over time, many silver investors will look for better, more secure storage for their investment.

Firearms owners may already own a safe to keep firearms secure. It’s a logical and practical choice to store silver alongside of firearms at home.

With most 10 oz silver bars being of a similar size and shape as a deck of playing cards, a couple of them can be neatly stacked alongside boxes of ammo.

Various other options are plentiful for those new to precious metals that may not already have a gun safe at home.

For a secure installation at home, a safe should be mounted to part of the foundation of the house. This is not always possible due to the many variations in construction. Many will, instead, use bolts and mounts to secure the safe to the floor or wall framing.

Some silver stackers may even set up a diversion safe or a honeypot in a spot that would be obvious to thieves looking for a quick score. While keeping the real shiny stashed away in a less obvious location or in a diversion safe of some sort.

Diversion Safes

Diversion safes come in a variety of disguises that look like ordinary household objects. Most often used as a clandestine way of storing herbs and other medicines, these are also a great way for investors to keep their investment secure without having to invest in a large safe.

One of the first things to come to mind for many is the simple soda can safe. They are a basic and simple way to store silver in your refrigerator.

Other options include picture frames, book safes, hanging safes, in-wall safe disguised as an electric outlet. You can find hundreds of simple and effective options for hiding a couple of ounces in plain site.

It is a good idea when storing silver at home to be prepared. It doesn’t take long very long to fill a small safe with shiny metal. So when you are investing in a safe it is a good idea to plan ahead.

After a while, most investors will develop some diversity to their collection that may include a mix of silver bars of different sizes, 1 oz silver rounds and coins.

Ammo cans, either metal or plastic are a good size for storing various size silver bars and coin tubes together. They are strong, durable, air-tight, waterproof, lockable and are easy to keep hidden away.

They’re also portable and easy to grab if you need to pack up in a hurry. However, they’re also easy for a thief to grab unless they are secured.

While ammo cans are a good option in some scenarios, they are still not match for a good safe.

When buying a safe, you should consider your future plans. How much silver do you plan to buy per week? per month? per year? Will you trade silver for gold in the future?

A good home safe can be a significant investment that you don’t want to find yourself repeating every six months to a year.

There are a variety of consumer-grade home safes that can provide adequate protection for most investors that can be suitable for storing up to a few hundred ounces of silver.

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Sales Tax When Buying Silver and Gold

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The notion of being charged sales tax when investing in precious metals is a contentious issue to some. It also represents a line in the sand between some legislators and investors. Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals.

Some states have no sales tax, a couple others have provisions specific to precious metals, others impose varying levels of taxation. Taxing the exchange of money, which includes gold and silver, has been a topic of debate for many years.

The recognition of gold and silver as money dates back to ancient civilizations. These metals have been used as a medium of exchange for centuries.

The private ownership of gold became outlawed in 1933. Under government orders, millions of circulating gold coins were seized from citizens and melted down. Jewelry and numismatic coins were exempt from the ban. Any person caught hoarding gold was investigated, prosecuted and imprisoned.

During the prohibition years, coin collecting was viewed by many simply as a hobby. Some savvy investors used coin collecting as a way to discretely hold and hoard gold.

Many of the coins, although valuable for the intrinsic nature of the precious metal content, were viewed as merely collectibles. Many states allow for the taxation of numismatic collectibles.

During this time coin collecting quickly grew in popularity with many investors turning their attention to numismatics that were generally exempt from the ban. Whitman’s Blue Book was first published in 1942, followed by the Red Book in 1946.

Pre-1933 gold coins play a huge role for collectors and investors alike. These historic coins are from a period of time when the US economy was backed by gold.

For today’s investors, the premiums on pre-1933 US Mint gold coins have fallen significantly in recent years. In some situations, premiums for NGC and PCGS graded collectible double eagle coins can be lower than raw specimens. With cycles of numismatic premiums rising and falling over time these coins represent a solid long-term investment that could potentially bring numismatic returns.

Also during this time several countries began minting restrike gold coins. They are basically modern “reproductions” produced by the official government mint to the same standards as when the gold standard was agreed upon.

At the time, restrike gold coins were recognized as collectibles even though they had no numismatic value. It was a clandestine way for many gold investors to transact real money during the several decades when the ban on private gold ownership was place.

Many state laws regarding precious metals were written prior to 1974, during the times when ownership, buying as a hedge, or investing in gold was still illegal. The numismatic items that were bought and sold were viewed by the states as collectibles, thus taxable under most regimes.

Currently, six states have no sales tax on any purchases: Alaska, Delaware, Montana, New Hampshire, Oregon and Wyoming. While Nevada, South Dakota and Washington have laws or rules that exempt sales tax on precious metals purchases. Utah and Arizona have recently passed legislation that exempts precious metals from state capital gains taxes.

There is a growing recognition among state legislatures to exempt gold and silver purchases from sales tax due to its worldwide recognition as money. Lawmakers are recognizing the fact that gold and silver are relevant as a store of value and a hedge against fiat inflation.

The belief that precious metals transactions should not be subject to taxation is growing among state legislatures because they are now viewed as investment and not a consumer good.

While some states have recognized the historical and economic value of precious metals and are working to eliminate sales tax on them, other states still impose varying levels of tax on such purchases.

It is important for investors to be aware of the specific tax laws in their state when considering buying precious metals. Even in states that require taxation of previous metals it is possible to find a friendly local coin store or pawn shop that will gladly accept cash for silver.

The rules related to charging sales tax on precious metals are complex and vary across the 50 states and even amongst localities.

While trends towards eliminating or reducing sales tax on precious metals are growing, more states are beginning to recognize the importance of metals as real money and the value it brings in diversifying portfolios, protecting against economic uncertainties and being a stable asset.

There are many arguments against the taxation of the exchange of money into a store of value.

  1. Double taxation: When precious metals are purchased with money that has already been taxed, it is essentially double taxation to also tax the exchange of those metals. This can make investing in precious metals less attractive, and may discourage investors from diversifying their portfolios.
  2. Decreased competitiveness: If one state taxes the exchange of precious metals and another does not, it puts the taxed state at a competitive disadvantage. Investors may choose to purchase metals in a non-taxed state to avoid the extra cost, resulting in lost revenue for the state that taxes the exchange.
  3. Economic impact: Taxing the exchange of precious metals can have a negative impact on local economies. Investors may choose to take their money elsewhere, and local precious metals dealers may suffer from decreased business. This can lead to job loss and a decrease in tax revenue for the state.
  4. Encourages black market activity: High taxes on precious metals can encourage black market activity, where transactions take place off the books and taxes are not paid. This can lead to lost revenue for the state and can make it difficult for law enforcement to track the flow of money.

In the US, gold played a significant role in the economy when the country was on some form of the gold standard until 1971. During this period, the US dollar was backed by gold, which meant that the government had to hold enough gold to cover a large percentage of the value of all the dollars in circulation throughout the world.

However, the tax-free states in the US recognize the value of precious metals and the role they play in a diversified investment portfolio.

More states are recognizing the historic nature of precious metals as a form of currency and therefore, should not be subject to sales taxes. Mississippi became the latest state to remove sales tax on silver and gold allowing citizens to protect their savings against the devaluation of the dollar.

Removing Taxes on Silver Purchases

In addition to the tax-free states, several states have recently taken steps to remove or reduce sales tax on precious metals purchases.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, Tennessee, Maine, and Idaho have all passed laws that either exempt precious metals from sales tax or reduce the tax rate.

These legislative actions reflect the growing recognition of the value of precious metals as a safe-haven asset and store of value.

These states have recognized the importance of precious metals as a store of value and have taken steps to remove barriers to their ownership. These states have made it easier for investors to protect their wealth with these assets.

Several states have recently introduced legislation to remove or change sales tax laws regarding precious metals.

For example, Mississippi, Kentucky, Maine, Wisconsin, Vermont, Minnesota, Alaska, and Tennessee have all either eliminated or reduced sales tax on precious metals in recent years.

Idaho and Maine are also considering gold reserve laws, which will allow the state to hold gold as a reserve asset.

Texas, often taking a leadership role in guiding other states, has introduced gold-backed digital currency law as an alternative to the anticipated Federal Reserve CBDC.

The state of Texas also operates a first-of-it’s kind bullion depository which allows for the segregated storage of precious metals for both individual and institutional investors in a secure and guarded facility.

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Gold & Currency Heist Reported in Canada

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Canadian authorities have reported a gold heist at Toronto Peterson Airport. Various news outlets report the amount ranging in value between $14.8 and $22 million dollars.

Al Jazeera reports a statement from the Regional Police said that a container carrying gold and other monetary items was stolen from a private warehouse after being unloaded from a plane at a nearby cargo facility.

The thieves are being compared by some media outlets to the characters in Hollywood stories based on mafia folklore such as the Henry Hill tales told through Goodfellas.

While others distract from facts by referencing other historically large gold heists in Canadian history.

The latest officially released figures estimate that 1.6 metric tons, the equivalent to 1,600 kilos of gold were included among the stolen stash.

“It did contain gold but was not exclusive to gold and contained other items of monetary value,” an RCMP Investigator told reporters.

Such a brazen burglary has authorities tight lipped about the other missing cargo. The Toronto Sun claims to have had access to confidential memos that suggest that the other cargo was a significant amount of currency bank notes as part of an intrabank transaction involving TD Bank.

There is still no word on the airline involved or the origin or final destination of the missing cargo.

In 2021, Canada was the 4th largest gold producer worldwide with roughly $21.3 billion.

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SD Bullion Lowers Minimum Order Size

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The team at SD Bullion sent out an email to their customers today informing them of a change to the minimum order amount.

Several weeks ago, SD Bullion, along with other online bullion dealers, experienced an unexpected increase in daily order volume due to the banking crisis that began with the collapse of SVB. This led to several online dealers increasing the minimum order size in order to reduce the volume of orders.

SD Bullion had increased their minimum order amount to $500. The announcement today notes that the reduction to a $250 order minimum.

The complete text from the email announcement reads:

Over the past week, we’ve continued to address the backlog of orders to work us closer towards normal processing times of 1-3 business days. We expect to reach that goal within the next two weeks. Therefore, this morning, we were able to reduce the order minimum from $500 to $250 to allow us to resume serving as many customers as possible. We’ll evaluate additional steps to remove the order minimum altogether as we monitor demand moving forward, but our goal is to remove the minimum completely as soon as our operations can support it.

We have continued to offer best in class value for physical precious metals throughout this period of substantial demand and will continue to be the online dealer of choice for stackers and investors everywhere. We appreciate your support and patience as we continue to accomplish our mission.

Sincerely, 
SD Bullion Executive Team

SD Bullion is one of the few dealers that currently offer both silver at spot price and gold at spot price to new investors.

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Latest Filings Show Trump is a Goldbug

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It should come as no surprise that Donald Trump is a goldbug. His NYC apartment in Trump Tower was audaciously decorated entirely with marble and 24k gold.

During his first presidential candidacy in 2015, Business Insider noted that Trump owned a substantial amount of gold at the time.

A new financial disclosure filed by former President Trump with the Federal Election Commission details his personal income and wealth since the beginning of 2022.

The 101-page disclosure report, filed as part of his 2024 Presidential Campaign, shows that Trump still owns a substantial stack of physical gold.

Nestled on the bottom of page 95 of the report shows that Trump holds between $100,001 and $250,000 in investment gold.

While it’s only a small portion of his wealth, Trump is stacking between 50 and 125 troy ounces of gold! If you’re looking to follow in The Donald’s footsteps, take note.

The US Mint has yet to issue a gold coin to commemorate the 45th President, so far only a bronze medal. Yet, private mint Trump silver rounds remain as popular as ever with investors. There are a variety of designs available, including a new Trump 2024 1 troy ounce silver round with a design to commemorate President Trump’s 2024 presidential candidacy.

Trump 2024 1 oz Silver Round Obverse
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SD Bullion Adds Buy Gold at Spot Offer for New Investors

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Online bullion retailer SD Bullion has recently launched a offer for new gold investors.

Like their silver at spot price offer, the offer to buy gold at spot price is limited to new customers.

First time customers can buy an Argor-Heraeus 10 gram Gold Bar at spot price which includes insurance and shipping. More details can also be found on the SD Bullion offer page.

Check out our at spot price deals page for more information and the growing list of spot price deals from other online retailers.

Argor-Heraeus SA is based in Switzerland as is part of the Heraeus Group and is is one of the world’s largest refiners of gold bars and other precious metals.

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Preparing for the Next Dollar Crisis

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The American dollar system is broken. All of the major swings in the economy over the last few years that have been driven by political and policy-based initiatives have led to a decline in global trust of the American dollar. The ongoing banking crisis makes it more evident.

The breakneck pace at which the global banking system is becoming multipolar is supported by central banks continuing their gold stacking efforts into first quarter.

JP Morgan Chase is among the largest banks in the world. CEO Jamie Dimon made headlines last year with dire warnings about the economy.

In March of this year, JP Morgan Lead Strategist Marko Kolanovic suggested that as investors lose confidence the possibility of a Minsky moment in the markets could lead to a sudden crash in across some sectors.

Reports from the IMF and World Gold Council show the largest purchases in the first two months were Singapore (51.4 tonnes), Turkey (45.5 tonnes), China (39.8 tonnes), Russia (31.1 tonnes) and India (2.8 tonnes). 

Very few countries have reported a reduction in their central bank gold holdings. However, many reports show various countries have increased their yuan currency holdings.

Some current trends suggest the Chinese yuan is gaining a foothold because of some recent lucrative trade deals, such as those with Saudi Arabia and Brazil.

Reports from the Russian government have made the allusion that the basket currency will provide support for countries that may be rich in natural resources and could include fertile soil, rare earth elements, and of course, precious metals including gold, silver and platinum.

Countries from across the southern hemisphere are expressing interest in joining the trade agreements outside of the dollar currency. The BRICS treaty countries are purportedly preparing for the announcement of a commodity based basket currency in South Africa at their next conference in August.

The G7 was long considered the global financial powerhouse of countries that set many of our current standards since 1975. Data reported in March shows that the BRICS nations combined have overtaken the G7 in GDP, with trend lines suggesting that separation could continue through 2030.

Various reports in recent weeks have suggested that the upcoming FedNow service expected to launch this summer is the first step in a Fed role of out a nationwide CDBC. Of course, the Fed has responded to the rumors with an announcement that the payment system is not a digital currency.

The IMF, a cartel controlled by member banks, has announced that they’ve received unprecedented interest from their member central banks with more than 30 countries asking for help fast-tracking CBDC implementations.

A private organization that advocates on behalf of the IMF called the DMCA recently announced their own CBDC, seemingly backed by the banking cartel.

The Universal Monetary Unit (UMU), or Unicoin that is represented with the ANSI Character, Ü. The IMF says that it can be used to transact in any legal tender settlement currency. It is also fully programmable and can be used to enforce regulations dealing with the international banking system.

The press release claims that it is legally a money commodity but does not specify where it is legal.

The DMCA hopes that central banks will adopt its Unicoin standard when implementing their own national digital currency initiatives.

More investors are beginning to view investing in precious metals as a way to preserve their money for the coming financial hurricane.

Wage growth has tumbled, thousands have been laid off, unemployment levels have started to rise and we are seeing more signs that we are headed for a major recession.

Gold prices continue chasing towards record highs with spot price closing the week at $2,005 per ounce. Silver spot price closed at $25.43 per troy ounce.

Having a diverse mix of gold and silver in your portfolio can offer some financial protection against uncertainty in other markets.

Having a stack at home also helps you to gain the financial independence to be your own bank.

Premiums at online precious metals retailers vary. Whether you’re looking to stack fractional gold, 10 oz silver bars or other physical bullion investments, FindBullionPrices.com can help you find the best deals.

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One Hundred Ounce Silver Bars

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Precious metals have long been trusted by investors as store of value and wealth.  When looking for the most cost effective way to buy silver. For many stackers, 100 ounce bars are one of the most cost effective ways for investors hold physical silver.

These bars often have the lowest premium per ounce over spot price and are a great way to bring peace of mind during times of economic and political restlessness. A variety of both private and sovereign mint 100 oz silver bars are in stock and ready to ship from many online bullion dealers.

Comparing the features, dealer premiums and shipping costs of the many available options is one of the ways to find the best deal on what fits your needs.

100 oz Silver Bars 

Serious precious metals stackers choose 100 oz bars because they will often have the lowest dealer premium per ounce. This makes them ideal for adding weight to your silver portfolio when stacking silver.

Some leading private mint one hundred ounce silver bars include those manufactured by Asahi Refining, Scottsdale Minting, Royal Canadiam Mint, Valcambi, Germania and others. Some designs and manufacturers may offer some rarity and collectability which could have an impact on premiums down the road.

A 100 ounce silver bar is an investment vehicle that can be utilized to stack your wealth at home while taking up only a relatively small storage space.

Each mint works within the conditions of their affiliation organizations certifications, such as LBMA, to ensure that these silver bars adhere to the outlined specifications. There is no standard size for a silver bar of this weight class and the dimensions will vary between manufacturers.

However, each 100 ounce silver bar contains almost 7 pounds of silver!

Secondary market 100 oz Silver bars are circulated. Which means that they were at some point sold back to a bullion dealer, pawn shop, local coin store or other exchange. Secondary market precious metals, sometimes refered to as “Dealer’s Choice”, typically have lower premiums than when they were newly minted and make an ideal choice as a store of wealth.

All hundred ounce silver bars are stamped with their weight and purity and include the manufacturers hallmark.

Industrial Demand for Silver

Precious metals and other commodities are always in demand by many industries. They play a significant role as components in many of the things that are part of our everyday lives.

Silver is one of the most efficient conductors of electricity. Many everyday electronic devices, such as cell phones, computers, solar panels and electric vehicles are all made various amounts of silver embedded in the circuitry. There is roughly 1/3 of a gram of silver (0.34g) inside the average iPhone.

While each device only has a small amount, considering that Apple has sold over 1.5 billion devices since 2007. When added up, that’s 510,000,000 grams or 16,396,881 troy ounces of silver.

In perspective, iPhone manufacturing alone has consumed more than 464,843 kilos of silver.

Already, more than 5.3 billion discarded smartphones that have been piling up in landfills as e-waste. With at least another 151 million being thrown away each year. The majority of that silver will likely never be recovered and is likely gone forever.

Today, advanced wound dressings and ointments are compounded with elemental silver and silver ions. The anti-bacterial properties have been used to treat severe burns and other skin ailments for more than 6,000 years.

Silver also plays a prominent role in medical imaging, x-rays and other radiographic imaging.

According to Statista, the jewelry industry consumed more than 202 million troy ounces worldwide in 2022 alone, more than 6,250 tons.

Generic 100 oz Silver Bars

The price of silver is driven by the spot futures markets. Those markets are where brokers for various industries buy silver with the expectation that it will be mined, refined and delivered by a specific future date.

Many modern industries are responsible for consumption of silver that will never be recovered or recycled. This will compound and effect the rarity and availability of silver and drive prices up over time.

Value investors look to the secondary market when searching for the lowest premiums on 100 oz silver bars. These are typically generic, private mint bars that have been bought and sold multiple times after being bought when they were freshly minted. Signs of wear, tear and patina can be indicative of its age and it’s common that most of these bars will have some dings, dents and scratches.

Some investors looking to preserve spending power consider generic 100 oz silver bars to be the perfect investment item. It’s often used as a hedge against high inflation because they maintain their intrinsic value.

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Government Mint 1 Gram Gold Bars

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The selection of government mint one gram gold bars available from online bullion dealers are minted are an excellent way to stack gold in fractional increments.

The dealer premiums for 1 gram bars can seem high when comparing them against a solid full ounce, however, they remain a practical options for incremental buying fractional gold.

Investors interested in buying quantities of 1 gram gold bars should consider the Valcambi CombiBars.

Newly minted gold bars come sealed inside a manufacturers assay card. This can provide extra assurance that you are buying an authentic and genuine product. Most gold bars can be tested with SIGMA Precious Metal Verifier while remaining encapsulated in the plastic assay case.

From a practical perspective, each 1 gram gold bar is a small store of wealth. Having even a small stack of these stored at home is a good way to be prepared for uncertainty to come.

The Britannia series of gold bars is minted by the Royal Mint and shares the design motif with other bars and coins in the series. The Britannia 1 gram gold bar is an excellent choice to complement your investment in silver Britannias.

The reverse design shows the Royal Mint hallmark along the top with the same wave and familiar maritime theme along the bottom. The center is stamped with the weight 1 gram and purity, 999.9 fine gold.

The Perth Mint of Australia is well know for meticulously designed gold bars minted to the highest levels of purity. It’s hard to go wrong when considering 1 gram Perth gold bars as a new addition to your portfolio.

The layout on the front features the Perth Swan logo at the top and shows the purity and weight very prominent. The reverse of these 24k gold bars shows a diagonally repeating bounding kangaroo design that alternates between a frosted and proof-like finish.

The Royal Canadian Mint’s 1 gram gold offering comes in the form of the MapleGram coin. The MapleGram Gold Coin is a miniature version of the larger Maple Leaf.

Each 24k 1 gram gold coin comes encapsulated in a sealed assay that includes the all of the important details. MapleGram coins are also available in sheets of twenty-five 1 gram coins that are perforated for easy separation.

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Egypt Mints First Gold Ingot from Domestic Mines

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The tuts and kings that ruled Ancient Egyptian Civilizations were adorned with lavish jewelry, art and even clothing made from gold.

Gold is once again being actively mined in Egypt. In January, the government announced that the first standard gold bar had been released to the market made entirely from domestically mined gold ore.

The Igat mine in the Eastern Desert was discovered in June 2020 is estimated to contain roughly 1.3 million ounces, or about 36,000 gold kilos.

Other mines discovered in the same region include the El Sukari mine, which is estimated to contain 12 million troy ounces of gold.

Egyptian gold burial sandals and toe caps, circa 1479–1425 BCE. (Photo: The Metropolitan Museum of Art)

“Extracting gold from the Sukari mine contributes to raising the strategic gold reserves to 300 tons, and this contributes to raising the value of the local currency,” said Nagy Farag, Adviser to the Minister of Supply and Internal Trade for Gold Industry Affairs during an interview with Sada al-Balad TV channel. 

Faraq told Nile News Channel in February, that the Jebel Ikat mine has the capactity to produce about 200 kilos of gold per month. The gold is being used replenish the Central Bank’s gold reserves and is strengthening the Egyptian pound and the national economy.

The Central Bank of Egypt’s reserves now hold more than 125 tons of gold bullion.

The mines in Egypt’s Eastern Desert represent an incredible source of income for the country amidst growing interest in joining the BRICS treaty. The country has been actively expanding the exploration of mineral deposits in other regions.

The government is expected to invest roughly $1 billion into the country’s mining industry by 2030.

The country’s first certified gold refinery opened in December 2020 in the Marsa Alam area of the Eastern Desert, marking a significant achievement in maximizing the supply chain and providing more local jobs.

The earliest gold coin discovered in Egypt dates back to 360 B.C. The gold stater coin was introduced as a means of payment to Roman mercenaries. The coin’s specifications were modeled after the Persian daric standard, which contained 8.4 grams of gold.