Paper Dissolves, Precious Metals Get Wet

Wet wealth?

I have also heard that a vault containing US Silver Eagles was flooded, but a wet silver bullion coin is just as valuable as a dry coin, alas wet paper returns to its raw state of wood pulp.  From CNN Money Original source Trillions of dollars worth of stock certificates and other paper securities that were stored in a vault in lower Manhattan may have suffered water damage from Superstorm Sandy. The Depository Trust & Clearing Corp., an industry-run clearing house for Wall Street, said the contents of its vault "are likely damaged," after its building at 55 Water Street "sustained significant water damage" from the storm that battered New York City's financial district earlier this week. The vault contains certificates registered to Cede & Co., a subsidiary of DTCC, as well as "custody certificates" in sealed envelopes that belong to clients. The DTCC provides "custody and asset servicing" for more than 3.6 million securities worth an estimated $36.5 trillion, according to its website. Read more