While most people are content to place their money in banks around the world, some people feel better knowing they will have access to their fortune regardless of anything that happens. However, with thieves becoming smarter and technology becoming more adept at finding precious metals quickly, people often wonder where they can safely hide their gold at home.
Where you hide your gold will depend on what options you have available to you. However, the best hiding spots are ones that make it difficult for metal detectors to find the precious metal or ones that are in plain sight.
Continue reading as we explore some of the various, and creative, places that people have found to store gold.
Why Do People Buy Gold?
There are many reasons why a person might decide to invest in gold. They may want to diversify their portfolio, they may enjoy the satisfaction that comes with collecting gold coins, or they might simply not trust the banking system and want to keep substantial amounts of cash on hand at home. Whatever the reason, because gold holds its value steadily over time, it continues to be a popular investment.
Here are some of the most common reasons to buy gold:
- It is money, and although it is not as easy to spend as cash, people know it will always have value.
- It is durable and can withstand fire damage, and water damage, and hold up well over prolonged periods of time.
- It is a tangible asset, unlike stocks or other investments, and can be kept nearby.
- It holds extraordinarily little risk as an investment because it will always hold value. In fact, gold has never reached a zero value in the history of this currency.
- It can withstand a fiscal crisis.
- It can be kept private and stashed away. This is especially enticing to people who are nervous about banks tracking their assets.
- If you decide to sell, you do not have to wait for a certain buyer in a specific niche market. It can be sold quickly and easily.
- It cannot be frozen, garnished, or seized (if they do not know it exists).
- You do not have to have any special knowledge to start buying gold.
- It can protect your portfolio.
Why Do People Hide Gold at Home?
One of the most common reasons for a person to stash money at home is a lack of trust in the banking system. Some people just do not trust banks. In some ways, this is understandable. In the event of a cyber-attack or worldwide system crash, it would be almost impossible to prove how much money you had stored in a bank, and for some, this is a risk they are not willing to take.
Another popular reason to keep money or gold at home is security. Knowing that you always have some financial protection nearby is comforting to a lot of people. This is especially common within the prepping community, as they believe the world is destined to change and they want to have the upper hand when it does.
Finally, people often keep money out of banks because they want to avoid government involvement. They may prefer to make transactions that are untraceable or untaxable and would rather pass their wealth down to future generations quietly.
Pros and Cons of Keeping Gold at Home
There are both advantages and disadvantages to storing gold at home and investors should weigh the pros and cons of each decision before deciding where they will store their precious metals.
- There are no monthly or yearly storage fees associated with storing gold at home.
- It will always be accessible to you in the event of an emergency.
- You will always know where it is and if it is safe.
- It cannot be confiscated as easily. Especially if nobody knows you have it.
- If you claim your gold on your homeowner’s insurance, it will raise your premium.
- Your home is not as safe as a vault or a safety deposit box.
- If people know you store gold, you may become the target of a crime.
- People might harass you for money if they think you are sitting on large sums of money.
- You will always have to worry about being robbed or your gold being found.
- You may need to buy bulky storage options for your home, which can be quite expensive.
- Thieves can use metal detectors to quickly find stashes of precious metals.
Places You Can Hide Your Gold at Home
If you decide to invest in gold and keep it at home, you will need to find a good place to hide it. Below you can find some ideas or inspiration to help you start hiding your gold today.
- In a floor safe hidden with a secret trapdoor
- Inside secret compartments within furniture
- Inside hollowed out table or chair legs
- Within false bottoms in desks, drawers, and cupboards
- In hollow curtain rods
- Under floorboards
- Behind baseboards
- Inside the walls
- Under stairs or behind staircases
- False electrical outlets that are small security boxes
- Inside ceiling tiles
- In a safe
- Inside picture frames
- Inside the chimney
- Behind brickwork
- Inside frozen foods such as hamburgers and mincemeat
- Inside of pipes
- In the air conditioner
- Within air ducts
- Inside of a washer or dryer
- In an aquarium
- Under the soil of fake plants
- Inside the water tank
- Within old clothes in the attic
- Under/behind the insulation
- Inside an old paint can
- Buried in the ground
- Inside decorative ponds
- Buried under hard to move structures
- In birdbaths
- Inside hollowed trees
- Inside old cars or boats on your property
- In a septic system
- In the sewer
- In a well
- Inside a false rock
The only limit to where you can store gold is your imagination. When trying to protect your gold stash, you should try to think like a thief. Try to understand where a thief might or might not look while ransacking a house as these will often make the safest hiding places.
Avoid cliche hiding spots such as inside of mattresses, inside coat pockets in closets, in dresser drawers, and other well-known hiding spots. Additionally, keep in mind that some thieves will use metal detectors when purposefully looking for precious metals, so you should try to imagine where they would and would not look.
Finally, make sure you remember where you hide your gold. Telling someone you trust can be a good way to protect your investment in the event you forget where you placed it. Drawing a cryptic map might also help jog your memory.
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