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gold
silver platinum
precious metals
coin shop
crevices
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burglar
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cracks
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5 Tips For Storing Gold At Home
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No other asset class has performed as well as gold has in this century. As a result, record numbers of people are buying gold and often storing gold at home.

Now, for clarification, this article will speak of gold in a sense meaning precious metals. Whether you buy gold, silver, platinum or palladium, these tips for storing that precious metal in your home apply.

Most everyone who owns gold has concerns about how to safely store that gold, whether at home or elsewhere - and rightly so.

Here are 5 tips for storing gold at home that you should find helpful.

1) Keep your mouth shut. Do not tell anyone you are interested in buying gold, let alone planning on doing it. And certainly never admit that you own gold or show it off to anyone. People have had gold stolen by "friends" they showed it to.

2) Buy gold or other precious metals only from a company you have reason to believe is reputable and in a safe neighborhood. Take care that no one follows you home. You are a target going into a coin shop because you may have money on you. You are a target coming out because you may have bought something valuable inside.

3) Choose a place to buy gold where they do not know you personally. It is OK if they recognize you as a customer but no more. Use cash if you can to keep anonymity. Misguided politicians are seeking to make that illegal because they think everything is about taxes; it is not, it is about your privacy and safety.

4) Live in an unassuming home to not attract attention. Recently a recluse died and was found to have $7 million in gold in and around his home but no one ever suspected. A sign saying you have an alarm can be a good idea, it often suggests to a burglar that another house would be a better target than yours. On the other hand, some think that advertises that you have something to steal.

5) Resist the temptation to hide the gold throughout the home in cracks and crevices. Yes, it can be impossible to find, but that can be the problem. Someday you will move and forget where it is all at, or you risk your rightful heirs not finding it should you die an untimely death. A quality home safe is a good idea, and fireproof if possible. No, the gold won't burn or even melt necessarily, but the better condition it is in, including any certification of grade will help the gold maintain maximum value.

Storing gold at home is not for everyone. Some people will just be uncomfortable about either having it stolen or feeling it somehow makes them a target.

Naturally there are many other options that allow you to protect your wealth with gold without having to store the gold at home, and that is the topic of other articles and website blog posts we have written.


Street Talk

good advice on not hiding treasures in crevices thru out the house. My parents did that and now that they're gone we're not sure we've found everything still.

Reply
  about 7 years ago

Frustrating, isn't it? Something one can lose sleep over, unfortunately I know from experience.

Reply
  about 7 years ago
Paul7  

It's a sad fact, but there are a lot of people who will steal from you if they think they can do it without being caught.

Reply
  about 7 years ago
Dom Wells  

yeah that is true, by the way, are you going to be at home tonight?

Reply
  about 7 years ago

These are good tips Roger. Do you have any thoughts on current and future price trends. The precious metals seem to be experiencing a major tug of war in a prolonged declining range.

Reply
  about 7 years ago

One of the investment letters I follow expects a test of $1530 on gold, but only if $1650 does not hold. If you see gold failing 1650, 1530 is the next target. Understand that it could go to 1188 and still be in a bull market. I feel any price below 1650 should be bought, a plunge to 1530, if it happened, could be VERY brief.

Reply
  about 7 years ago

Good information. a lot of people brag about their gold which could be a disaster for them

Reply
  about 7 years ago

Very definitely. "Loose lips sink ships" or the equivalent ;)

Reply
  about 7 years ago
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