After reading about scientists in Switzerland finding $2 million in gold in the sewage system, we thought it might be fun to round up a list of the craziest places people store their precious metals.
Burying gold and silver may not seem like an unusual or crazy idea…but it may drive you crazy to remember where you buried it! A client bought precious metals shipped to their doorstep and then buried the metals in his backyard. He called us frantic a year later because he forgot where he put the metals. He wanted to know if we knew where they were. Thankfully, he called back a week later with news that he found his precious metals. This is one of the reasons why we recommend using a depository to safely store your gold and silver.
A California couple discovered $11 million in gold coins buried in their backyard. This is a good lesson about how common it is to forget where you left your investment, to not tell even one person where you buried it, and to not document the buried treasure’s location in your will. Strangers who find the metals could benefit from your investment in the future--and your heirs would miss out.
The same article lists a story about almost $500K in silver coins buried on a barley farm in England, found when someone was learning to use a metal detector. This is another example of why burying may not be the best idea – modern metal detectors can find metal buried up to 4 feet deep. You can find ways to get around some of the problems with burying gold, such as using PVC pipe to bury coins in, burying it at night so no one sees you, and using additional time-consuming tactics to keep your metals safe. If this all sounds too complicated, we agree. Read about our secure gold and silver depository to solve this problem.
In Common Objects and in Plain Sight
A client told us a story once about how he kept $50K worth of “junk” silver in jars around the house. He said if anyone broke into the house they would never think these old silver coins were worth anything and they would focus on stealing the electronics and the cheap jewelry. He loved the idea of a robber stealing a $500 old TV and walking right past $50K in silver.
Hundreds of clients have told us that they keep their gold and silver under the bed. If this is such a common practice, perhaps it is not the safest place to store your precious metals, since it may be the first place a burglar looks.
Storing metals inside of walls, weighting the hems of curtains, and hiding in common objects such as containers of dog food are all described around the internet as places to hide gold, or where gold has been found by a new resident. One especially interesting example is a man who used bricks of silver, painted black, as doorstops.
The Strangest Place to Store Gold
The winner for the craziest place to store precious metals that we personally have heard about is a client who kept gold inside of a taxidermy dog. He thought it was safer there than in the safe; no one would think to put their hand inside of it.
Advice on Where to Store Gold and Silver
Banks can fail and/or be locked at times of need, so don’t use a safe deposit box to store gold. If you’re storing it at home, you could be risking forgetting about it before you move or pass away and also be at risk of theft. A recent story this year described how the government was looking for gold in weird places in the 60’s, so government confiscation could be a risk of storing at home as well. To avoid all the hassle, Noble Gold offers a secured depository in Texas and in Delaware.