Tuesday , 23 May 2017


Own Physical Gold and/or Silver? Here Are Some Ideas On How To Store/Hide It

If you’ve made an investment in physical precious metals, or even considered takingshhhh-20140722163330 that step, the question of where to securely store it has surely come up.  This article presents one important rule and a few simple strategies that can dramatically reduce the risk your stash gets stolen.

The above introductory comments are edited excerpts from an article* from MoneyMetals.com entitled 6 Tips for Securely Storing Your Precious Metals.

The article goes on to say in further edited excerpts:

Before sharing our list of hiding places, we want to impress upon you the importance of installing a security system at your house.  Burglaries are on the rise, and you have a lot more to lose from a home break-in than just your precious metals.

That said, here’s one important rule and a few simple strategies that can dramatically reduce the risk your stash is stolen.

Rule #1: Don’t Talk about Your Holding

A huge percentage of thefts involve inside knowledge. The larger the circle of people who know you have valuables, or worse – exactly where those valuables are hidden – the greater the chance that information will be shared with a crook.  The best policy is to share the details on where to find your stash with 1-2 people you trust and impress upon them the need for privacy. If thieves don’t know you have a precious metals stash, they are less likely to risk life and limb targeting your home at random.

In addition to Rule #1, consider employing one or more of the following:

1. A Quality Home Safe

Tried and true, a well-built home safe is always a good idea.  Bolting it to the floor in a spot where it will be awkward for thieves to employ a prybar further improves security.  Floor safes and wall safes hidden under a rug or behind a family photo are also very effective.

2. Decoy Stash

Put a modest, but believable, portion of your holding in a more obvious location to throw crooks off the scent of your primary cache.  Consider storing a few coins in your gun-safe or a cheap firesafe. If those are found, criminals are likely to stop their search. And, if your home is invaded, you and your loved ones will have something ready to hand over.

3. Choose the Unlikely

Unless it is a decoy stash, don’t choose clichéd hiding locations.  Under mattresses, sock drawers and master bedroom closets will be the first places searched.  Here is a list of not-so-obvious hiding spots that work well:

  • Paint cans in a garage cabinet – It’s a good idea to leave some paint in the can and package your metals to avoid rattling.
  • Buried at least two feet in the ground inside a waterproof container.
  • Your freezer – perhaps inside an emptied-out box of frozen food product.
  • A stuffed animal in a box of old toys tucked away somewhere.
  • Behind some insulation in your attic.
  • On a bookshelf inside the clever Money Metals booksafe.

4. False Pipes/Electrical Boxes

Install plumbing or an electrical junction box that appears functional.  These pipes and boxes make ideal hiding spots – never garnering a second look from anyone.  Just be sure to invest the time and care to make them look genuine.

5. Safe Deposit Box/Commercial Vault

We recommend everyone keep at least a portion of their holding under direct personal control. Storage at home is the best way ensure 24-hour access and guarantee privacy. However, third-party storage in a safe deposit box or commercial vault can make sense for anyone who simply won’t be able to sleep at night with all their valuables at home.

 

Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.

*https://www.moneymetals.com/precious-metals-buying-guides/gold-and-silver-storage (©2014 Money Metals Exchange; For more information about precious metals storage, visit here.)

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