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Fort Knox sounds like the perfect place to store your gold. But what if someone told you that there’s a safer place, and it’s been sitting right in front of you?
Yes, your home is a great spot to store your precious metals, and as long as the secret doesn’t go out too far, there’s nothing to worry about.
Here’s how to store your gold safely and legally at home:
- Consider your storage options.
- Find a good spot to hide your gold at home.
- Bury your gold in the backyard.
- Install security and devices for your gold.
- Tell somebody you trust where the gold is hidden.
We’ll go over some tips in this article to help you ensure that your hard-earned wealth stays safe in your home.
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1. Consider Your Storage Options
When it comes to gold storage, you have three options. You can:
- Rent a safety deposit box in a bank.
- Get high-security private storage.
- Store your gold at home.
There’s a good reason why you should first weigh all your options before concluding that any of them is the best option for you. First of all, there’s the issue of security for you and your gold.
Gold is one of the most precious metals on earth. Everyone would want a piece of it, and some people would do anything to get it.
Bank Safety Deposit Box
Banks are generally considered safe. Potential thieves will have a hard time getting bullion metal if, at all, they get in. Banks rent out safety deposit boxes for as little as $20, depending on the size.
Only you can access the safety deposit box. Even better, the neighbors — and potential thieves — won’t see you take your gold to the bank.
However, it can be a problem when you want to make a quick withdrawal for an emergency. If the bank is closed, good luck getting in.
High-Security Third-Party Storage
Third-party storage sounds good too, but the cost can be impractical for small quantities. A provider can charge a monthly fee ranging between $50-$100 for an account valued at $100,000 (these are just an estimation of the charges).
Smaller accounts attract a smaller fee.
Storing gold at home means it’s always there when you need it. You can inexpensively store small or large amounts of gold in a home safe since there are no restrictions on private gold ownership in the US.
On the flip side, if someone other than your closest friend, family, or trustee learns that you have gold in your home, you could be a moving target for the thieves.
2. Find a Good Spot To Hide Your Gold at Home
Once you’ve decided that you want to store gold at home, it’s time to find a good spot. The basement, garage floor, or hidden safes are too obvious. Everyone hides important stuff in these places.
You don’t want that. Instead, you want a place that’s easy for you and your trustee to remember and access but extremely difficult for the neighborhood burglar to guess.
How about a safe hidden under multiple layers of flooring, say, a hidden compartment covered with removable tiles? Or a carpet above the tiles and a heavy bookshelf on top?
You can also hide the metal in plain sight. Fake, hollow rocks aren’t easy to detect, simply because you have many of these sitting around your home. If you’re afraid of hiding the gold from yourself, install a keypad safe somewhere in your bedroom or closet.
Note: Remember, these aren’t the best options. They’re merely ideas for where anyone would keep their gold.
3. Bury Your Gold in the Backyard
Burying the gold in the backyard is also a good idea. Just don’t do it during the day because that may attract the neighbor’s attention. It may also encourage them to try to pull one over you whenever you’re gone.
So, dig the hole at night and keep your head low. Also, store the gold in an airtight, water- and rust-proof container or safe that can withstand harsh elements.
Doing this prevents ants, air, dirt, and water from getting in. It also protects your bullion against natural disasters (floods, tsunamis, or earthquakes). This way, you may rest assured that you have something to start over in case disaster strikes.
4. Install Security and Devices for Your Gold
Once you’ve hidden your bullion somewhere in your home, you want to keep it safe and hidden from burglars. Install an alarm system with video and audio recording capabilities.
If a burglar hits your home, the video and audio feed may help unmask them. Law enforcement can also use it for prosecution in a court of law. Adding a motion sensor wouldn’t hurt. It helps monitor the movement in your backyard, especially at night.
A top-quality security system won’t only keep your gold safe. It’ll also keep you and your family safe from burglars.
5. Tell Somebody You Trust Where the Gold is Hidden
It could be your wife, your child, best friend, or someone you really trust. If something were to happen and you couldn’t get to the gold, someone needs to know where it is and how to find it.
The hard part is choosing who you tell. Your trustee should be trustworthy and able to keep a secret. If you have gold stored in your home, the secret should be guarded as closely as the Coca-Cola secret formula.
Once it gets out, you may have no control over who else knows. This makes you and your gold a moving target. Ensure that your trustee can’t and wouldn’t give you away.
Should I Store My Gold at Home?
Buying gold and pretty much other precious metals can help keep your family afloat amid tough financial times.
Knowing how to store and protect your hard-earned wealth safely and legally against theft for years to come is essential. If you choose to bury your gold in your backyard, make sure to keep it safe from the natural elements, too.
Ultimately, think hard about who to trust about your gold and its location.
Noble Gold Investments
Noble Gold Investments founded in 2017 by two industry veterans who wanted to create a different type of precious metals companies that educated their customers and made sure each client was 100% satisfied with their investment decision.