Super Damp Basement

Moisture will rust the caps. It's kind of ugly but the beer should be OK. However, if you do have mold that's a bigger issue because it gets up under the rim of that cap and gives the bottle that smell. You can carefully un-cap and pour and then get rid of the bottle but you'll probably have the mustiness on your hands and what not and it might throw your nose off.

A solution, and one I suggest you look into, is drying the basement. There's a reason that water's getting in there, and except in very unusual cases it can be fixed. Sometimes that solution is costly, and sometimes it's just ugly (my sister had to cut a trench across the length of her yard from back to front), but it's something you should do for the house, not just the beer.

 

Chest freezer with a temp controller works good for me. Got both, brand new, for less then $200 total....

 

I also use this method and I hold mine at 53 degrees,does not use alot of power as it stays within a degree or two and the compressor only kicks on whens it gets to 55,just enough to bring it back down. Best investment I ever made for my beer!

 

I hold mine at 52°, with the temperature probe about halfway down in the freezer. The beer at the bottom stays around 47°, and the beer on the top is around 57°. Been using it for 4 month's and haven't noticed an increase at all in my electric bill.

 

Is your foundation below a water table to have it so wet all the time? From a construction standpoint I'm more interested in your foundation and drainage issues lol

Short term (1-2 years): you can store them in the basement but understand you are taking a risk with rusty caps, not to mention the mold and family health, and the structural integrity of your house.

If the leak isn't obvious like a gutter downspout leaking and causing your wet spot, or natural spring, then your fix is a DIY weekend project you should look into sooner rather than later for the safety of your family and home investment. French drains are relatively easy to do and affordable, just get a ditch witch to cut a trench along your leaky foundation, lay corrugated/perforated pipe to drain water, slope the trench to drain away from the house (high point in the middle of the wall with low ends past corners of house), backfill with pea gravel and you should be good.

 

get a nice wine cooler second hand on craigslist or elsewhere. I used to store my bottles out in the open on shelves in my garage but then I was concerned about the humidity and mold so purchased couple nice wine coolers. Best decision ever.

 

A good dehumidifier couldn't hurt anything. It's a hassle to empty all the time but it will help with the humidity in your cellar.

 

I'm in a similar predicament as OP. Would using a couple plastic snap containers with lids to house the bottles solve/slow down this problem?

https://www.amazon.com/Rubbermaid-1172-ActionPacker-Storage-Gallon/dp/B000CFV0DO/ref=sr_1_1?ie=UTF8&qid=1497649103&sr=8-1&keywords=waterproof+tub&th=1

Something like this?

 

It couldn't hurt - especially if you throw some dessicant packs in the tubs.