How can I protect myself against silver confiscation?
There are ways to protect yourself against silver confiscation or at least limit the risk of getting your silver confiscated. The easiest way is to not invest in or to own silver, but then of course you will be fully exposed to fiat currency failures, a collapse of the existing debt-based currency system, etc.
Here is a list of things you can do to protect yourself against silver confiscation:
- Avoid paper silver: It’s much easier to confiscate paper silver than physical silver since all paper silver are traded via official channels while the same cannot be said of physical silver. This is a good reason not to invest in paper silver. For more good reasons not to invest in paper silver, be sure to look at a comparison of physical silver and paper silver here.
- Silver storage: Physical silver in the hands of the individual is much safer than physical silver stored in a safety deposit box at a bank or depository. The reason for this is because it’s much easier for a hostile government to confiscate the silver of 5000 or more people pooled together than the silver of 5 million people spread out in 5 million homes, especially when the silver is locked up and stored in hidden places. Be sure to visit the relevant section of our website for more info relating to silver storage.
- Common sense: Silver Bullion is not at liberty to tell you exactly what this entitles, but a good sense of common sense can take you a long way when it comes to silver storage and avoiding silver confiscation. E.g. don’t announce from the roof tops that you’ve just bought 100 troy ounces of silver and why incur debit/credit card fees if you can pay cash!
- Silver dealers: Make sure that you have access to more than one silver seller/dealer, especially if you have a substantial amount to initially invest in silver. The reason being is because you want to spread your purchases over a couple of days and attract as less attention as possible.
- Silver news: Make sure that you stay up to date with the latest gold and silver news, especially news relating to possible changes in silver regulation. E.g. the moment you hear that government is planning to restrict silver sales, you want to buy as much silver as possible before it becomes a reality.
- Make friends: Make friends with people who are also silver enthusiasts and/or silver investors. It’s for one a great way to trade silver anonymously or without government interference in your affairs.