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Water and extreme moisture damage to PMs?

tneigtneig Posts: 1,505 ✭✭✭
in Precious Metals
Anyone have any thoughts on this?
Like how moisture or even a long-term soaking has on coins and bars.
COA

Comments

  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    No, I keep plenty of dessicant in the safe.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    Water + Copper = not good

    Water + Silver = not good

    Most Gold coins contain Copper, even .999 fine Gold contains trace Copper

    Most Silver Coins contain Silver and Copper, except ASEs and Pucks. Even so, water is bad for silver.

    Platinum Coins, .999 fine = no problem
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  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>No, I keep plenty of dessicant in the safe. >>



    I keep a bobcat in my safe. MJ
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  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    for underground storage: use 6-10" PVC pipe cut to length. Glue cap on one end, insert metals and a dessicant, use screw on cap on other end with teflon tape on threads, bury and tell a loved one where it is in case something happens to you.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    You mean like shipwreck coins? Silver doesn't do real good, gold does OK.
    Becky
  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    One word: Ziplock bags.

    image

    Fine PM's don't lose any metal content when they are introduced to water, but they will probably lose numismatic premiums (unless they are found by a well publicized salvage company and marketed to the masses as seawater effect long lost treasures with limited availability). They may start to sport some funky crustiness secondary to impurities.
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  • tydyetydye Posts: 3,894 ✭✭✭
    derryb - need any landscaping done?
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    I use a SDB for the high dollar stuff and a safe for the bulky stuff.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • johnny9434johnny9434 Posts: 28,303 ✭✭✭✭✭


    << <i>No, I keep plenty of dessicant in the safe. >>

    its a wonderful thing to do image ( and smart as well )
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    But does dessicant pose any possibility of actually drawing moisture from outside the safe?

    FWIW: one of the things that makes PMs PMs is that they aren't generally effected by moisture. As has been said here, numismatic value may be harmed. But if we're just talking generic gold or silver bars or 90%, I wouldn't be overly concerned.
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