My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Welcome to the 49th episode of the SilverTowne Vault Cast and thank you for joining me on this Monday morning. Today as promised we are going to be talking about how to secure and hide your gold and silver. I’m hoping to address three questions. How, Why and Where to secure and hide your gold and silver bullion. I believe that this is an important topic and apparently several of you do as well because I got contacted by a quite of few people saying that would love for me to cover this information.
Now lets get into today's precious metals pricing!
Gold - $1647.24 down $19.73
Silver - $30.98 down $ .44
Platinum - $1703.00 down $ 7.50
Palladium - $742.00 up $ 8.50
Hide Your Gold Through Diversification
Let's say you've decided to store a handful of gold coins at home. A great way to mitigate the risk of theft is to diversify where you store the coins. Don't place them all in the same hiding spot. Rather, spread them around. A thief is a lot less likely to find all of your coins if they are hidden in multiple locations. In the unfortunate event of a robbery, you will most likely only lose some (or even none) of your coins if they are well hidden in a diversified manner.
Assume A Potential Thief Will Have A Metal Detector
Thieves are smart these days and you need to outsmart them if you want to keep your gold. Assume that thieves have metal detectors. They will leverage these metal detectors to find your gold stash. The solution: Hide your gold in a place that would already set off a metal detector. For example, perhaps you could store your coins in the kitchen drawer near your metal silverware but hidden under a towel or taped against the top of the drawer. The thief would not see your coin and would assume the silverware set off the detector.
Your House Extends To Your Car and Your Person
In the spirit of diversification, why not store some of your coins in your car or on your person? That way if your home is robbed, you will mitigate the downside. This is one reason to always keep a gold coin in your pocket, briefcase, or purse. If you are going to the carwash or the car dealership for a service, always remember to remove your gold coins from your auto.
Tell Nobody About Your Gold
If you never get robbed, you never have to worry about hiding your coins well. Gold is an exciting topic and it's ok to talk about it in general. However, there are a lot of people out there who want your money. Keep quiet about your gold bullion coins and you will not have to worry as much. Start telling your friends and word will spread that you have a gold hoard. This only invites trouble. As a closing thought, life is all about diversifying away risk. In your general gold storage strategy, think about how you want to diversify. Read More...
Hidden in Plain Sight
There are many ways that you can hide your physical bullion from robbers and looters. However, most of these ideas will not protect it from government agents, who will likely go through everything in your house, if your country ever reaches that point of no return.
One way to hide bullion coins or small bars is inside a fake can of aerosol spray. You can buy them at Amazon and from online security products retailers.
The top of the can comes off, leaving the interior available for storage of important items (don't just think of bullion—protect documents, jewelry and similar items with this security device).
If you're going to store coins in them, don't put too many in one can. The weight can't be more than the weight indicated on the can. And be sure that they can't move around inside, or scrape against the sides or bottom.
Be sure to wipe some grease or oil on the outside to make it look used, and then place it in your toolbox or on your workbench, where it will blend in with everything else there.
Another option is a book safe. Basically a book look-alike, it has an empty space inside, which you access by lifting the "book's" front cover.
This storage option will only work if you have a lot of other hardcover books in the house. If you buy this device, and it's the only hardcover book on your shelves, it will stand out so much that its security will be greatly reduced, if not completely eliminated.
You can also use unopened food boxes. Open a box very carefully from the bottom, so that you don't damage the outside of the flaps. Place your coins on top of the food in the box, taping them to the bag so that they don't move. Then glue the box closed again.
This system works best if you have many of the same food box, which makes it less likely that a family member might open your box of food, and less tempting to an invader.
Hidden in Walls
If you live in North America, your house is likely built with wood stud construction. That means there are hollow spaces in the walls, between the studs. If you're good at drywalling and painting, you can add several hiding areas throughout your house.
We recommend that you put them that at floor level, behind furniture or appliances. The need to move many items just to reach the wall will act as one more deterrent to robbers and looters. It will likely only slow down government agents, though.
To reduce the risk of fire damage to your bullion, consider finding a fireplace lockbox that's small enough to fit inside the wall (one of the three dimensions needs to be no greater than about 3.5 inches, or 1.39 centimeters).
If you have a separate garage, consider adding a circuit box to one of the walls. Make it look like it's connected to the electric wiring, but leave a space behind it for your valuables. One advantage to this is that a metal detector shouldn't be able to find your silver and gold.
If you live in an adobe house, you can simply dig holes in the walls, put your plastic-wrapped silver and gold into the holes, and then plaster over them with mud, let the patches dry, then paint to match the rest of the wall.
Buried Outside
Or bury your hard assets outside. Pick a place where no one else is likely to dig any time soon, but one that won't be noticeable as a nFor example, if your spouse loves to garden, don't bury your metals underneath a plant. While s/he's weeding or dividing plants, s/he might come across them.
Put them in a waterproof, hard-sided container of some type (enameled metal would be best, but a strong, thick plastic would also do).
And be sure to leave a landmark of some type nearby, or on top of it. Then add a note to your estate's documents, telling your executor where to find your precious metals (and any other valuables you buried in your yard). What's the point of protecting your family's financial future if they don't know about your bullion assets? Read More...
Safes
Safes are the most popular way for owners of gold and silver to store their investments. Safes are not only difficult to steal because of their weight, but they will also work to ensure that your gold and silver is able to sustain water, fire, and most all forms of natural damage. A safe is going to most effectively serve its purpose when it is planted in the ground. This would mean screwing the safe itself into your floor, wall, etc.
Safes vary in price, from under $100 to several thousand dollars. Depending on your budget, a safe of any size can be kept in your home, keeping your gold and silver both secure and within reach at the same time. The very best personal and commercial safes have been UL rated at UL-15 spec or higher, so keep that in mind when shopping for your first safe.
Secretive Storage
A lot of gold and silver owners have a secret spot that they keep their precious metals. These storage options include anything from behind a wall to buried in the yard. If you choose this route, your storage location is up to your imagination.
The benefit to this form of storage is security in that if it can’t be found, it can’t be stolen, as well as the fact that you will save potentially thousands of dollars by not having to purchase a safe. The downside is that your gold and silver will be more prone to damage, and if anyone does discover your secret spot, your valuables are as good as gone. If damage is not a primary concern, and you believe your hiding place will never be found, this is a cheap and simple way to store your precious metals.
Banks
Banks are what many people first think of when it comes to storing their valuables, be it precious metals, diamonds, or just about anything else. A safety deposit box at a bank allows you to store just about anything. For a small fee a bank will store your items safely, where no one has access to them but you.
While there are certainly a lot of benefits to this option, there are also some downsides. The primary concerns with safety deposit boxes are accessibility and absolute security. If the government happened to order a bank holiday where they could essentially take your gold or silver without permission, there would be nothing you could do.
Beyond this, if you needed your precious metals right away, the bank might not even be open for business. Lastly, your safety deposit box is only as secure and trustworthy as the bank employees who can potentially gain access to it. While storing gold and silver at a bank is a sound choice, there are always situations worth considering before you put your investment in any type of third-party storage.
While the above scenarios are extremely unlikely, they are possibilities nonetheless. We don’t aim to imply that your gold and silver would be unsafe at a bank, as it almost always will be kept securely and will be readily accessible, but you should be aware of the pitfalls of third-party storage.
The next topic we will cover is how to sell your gold and silver either online or locally, so you know how that works if you ever decide to liquidate some metal. Read More...
I hope that all these tips really helped you and gave you some good ideas on how you can best secure your gold and silver as well as to why you should secure and hide it. I would also recommend getting an alarm system. You can get them fairly inexpensively and now days they are wireless and only take a few minutes to self install.
For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
One of the most common ways to invest in silver is with silver ingot . They are affordable, portable and easy to stack and store. Popular SilverTowne Trademark Silver Bars, featuring a classic prospector and his donkey, are guaranteed .999 fine silver and available in 1, 5 and 10 ounce sizes and SilverTowne is currently offering free shipping for these ingots. Contact Silvertowne today.
[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
