A common question amongst gold and silver buyers is how to keep them safe once you own them?
We reckon if you buy gold or silver as “financial insurance” you should take delivery of it personally.
So where do you store gold and silver to keep it safe?
First up you could consider a home safe.
See this article for all the things you need to consider before going ahead with this: Buying a Home Safe for Gold Silver Storage. It is definitely not as simple as just buying one of those little lock boxes from the hardware stores.
Private (Non Bank) Vaults are also an option.
There are a number of these across New Zealand. These too have their pro’s and cons. If you’d like more information on Vaults in New Zealand, get in touch with us, let us know your location and we can point you in the right direction.
Inventive hiding places around your home are another option.
While it’s a good idea to have some gold and silver at home in case you need some “instant cash” one day, it’s definitely not a good idea to advertise the fact.
Any hiding place also needs to be somewhere that would be thieves simply won’t consider looking. So here’s a bunch of hiding places to consider. Some are quite small so might suit the compactness of a gold coin, bar or ingot, more than a 1kg bar of silver.
10 HIDING PLACES FOR YOUR GOLD, SILVER AND VALUABLES:
1. Fake Electrical Outlet
You can purchase a fake electrical outlet that pulls out from the wall, to hide valuables including gold, silver or jewellery in. Via The Survival Camp
2. Fake Air Vent
A similar option to the electrical outlet but would let you store larger bars is a fake air vent. Via The Survival Camp
3. Fake Head of Lettuce
Here’s one we’ve never heard of before. A fake head of lettuce you keep in your fridge that has a secret compartment in the bottom of it. Via The Survival Camp
4. Picture With a Hidden Medicine Cabinet Behind It
Install a medicine cabinet anywhere in your house you’d like a picture on the wall. Then replace the door with a piece of artwork. Via The Survival Camp
5. An Old Vacuum Cleaner
Instead of throwing away an old vacuum cleaner you could hide gold, silver and other valuables in the bag compartment. Via The Survival Camp
6. Between Upper Cabinets in Your Kitchen
The gap between the upper cabinets in your kitchen might not fit gold or silver bar but you could fit a coin in an envelope and then tape it to it. Regardless of what you think about fiat currency it’s still a good idea to hide some at home too and this would be a good place to hide that too. Via The Survival Camp
7. Underneath the Fridge
Your fridge may have a removable cover on the front that has quite a lot of space to store valuable items. Via The Survival Camp
8. Old Paint Tins in Your Garage
Empty and clean out an old tin of paint from your garage. You can store gold or silver bars inside it and it’ll remain hidden amongst all the other old tins. Via The Survival Camp
9. Fake Electrical Box
We may not use this one for precious metals storage, but still a nifty trick for hiding a spare key in case you ever get locked out. Via The Survival Camp
10. Tennis Ball
Now here’s a really novel one we’ve not thought of before. A slit cut in a tennis ball would allow you to store small gold bars, coins or jewellery inside it. Via The Survival Camp
With any of these hiding places what’s the golden rule?
Remember where you put them of course! You shouldn’t be the only one who knows where your gold and silver is stored. But of course you should keep those who know to the absolute minimum as well.
Any other cunning storage ideas for gold and silver? Share them with us and the readers! Leave a comment below.
For more on this topic see: Gold and Silver Storage Options