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How To Hide Your Gold: A Bloomberg Primer
A world insolvency crisis, a Thermidorian reaction in Egypt, a hard landing in China, the first non-PIIGS nationalized bank... The world is on fire yet despite all of the above (or rather due to) what is the topic of one of the most commented articles on Bloomberg over the past week? Why how to hide one's gold. Bloomberg's Ben Steverman writes: "If you’re looking for a safe place to put your investments, Chad Venzke has a suggestion: Dig a hole in the
ground four feet deep, pack gold and silver in a piece of plastic PVC pipe, seal it, and bury it. Venzke is hardly the only investor who wants his precious metals nearby at all times. A pound of gold worth about $24,000 can easily fit in a pocket; how to protect it is a decision that carries expensive consequences. Do-it-yourself investors who don't trust banks must find creative storage options, whether burying gold in the yard, submerging it in a koi pond, stashing it behind air-conditioning ducts, or placing it under carpets." Indeed, as Venezuela is about to reclaim possession of its tons of gold from UK vaults, even as the Dutch central bank proudly admit to hiding its own gold in precisely the same venues that are no longer good enough even for Chavez, the topic of where one should hide their physical is rapidly becoming a very incendiary. One thing is certain: among the hard core "physical" community, the idea of storing it in the same banking system that would be insolvent once the fiat status quo collapses, is verboten anathema. So what are the options?
[T]here are growing piles of precious metals in, under, or near American homes. From mid-2010 to mid-2011, U.S. investors bought up more than 100 tonnes of physical gold coins and bars, up from 15.2 tonnes in 2007, according to the World Gold Council. (A tonne, or metric ton, is 1,000 kilograms.) Worldwide bar and coin demand rose 37 percent during the mid-2010 to mid-2011 period, according to the Council, even as demand from exchange-traded funds backed by physical gold, and similar products, fell 84 percent.
The notion of keeping one’s gold in a safety deposit box—inside the banks many gold aficionados find so untrustworthy—is anathema to many gold bugs. Venzke, who predicts "runaway inflation" and a crisis leading to a "new form of currency within this decade," worries that the boxes won't be accessible if banks shut down in a crisis. "How are you supposed to get your stuff out of there?" he asks.
For those storing gold and silver in or around their home, the most immediate danger isn’t a crisis or a dip in metal prices. It’s theft. The FBI, which tallies the theft of precious metals and jewelry in one category, says $1.6 billion was stolen in 2010, up 51 percent from 2005. Just 4.2 percent of the lost loot was recovered last year.
Metal detectors are a big worry. Basic detectors can find metal on the surface or in the first 12 inches to 14 inches below ground, depending on soil conditions, says Louis Mahnken Jr., a sales representative for Kellyco Metal Detectors in Winter Springs, Fla. That’s why Venzke advises burying it at least four feet deep. There are online debates about the best way to frustrate such thieves, including using scrap metal as decoys or hiding metal by covering it underground with asbestos or mirrors.
Metal owners also use the "hiding in plain sight" maneuver. According to dealers, some customers buy 100-oz. silver bars, paint them black, and use them as doorstops. That's foolish, says Steven Ellsworth, a coin dealer in Clifton, Va., who teaches security classes for the American Numismatic Assn.
Safes can certainly deter thieves. Yet an inexpensive fire safe may be exactly the wrong place to put your valuables. Richard Krasilovsky, president of Empire Safe, calls such safes "handy carrying cases for burglars." A fire safe is designed to protect papers from fire, not from intruders, says Ryan Smith, a senior product manager at SentrySafe. "It wouldn’t be wise to put any more than $20,000 of valuables in our products," he says.
Yet, as many of the more pragmatic survivalists have pointed out, in a game of rock, gold or lead, it is the latter that usually wins:
[W]hether gold is buried, put in a safe, or hidden under your bed, there’s nothing to stop a determined person with a gun from making you show them where you put it. That’s why it’s important no one ever know you have gold in the first place. Krasilovsky’s company will deliver safes in the middle of the night, installing them where no one, including a contractor, is likely to stumble across them.
"People have to be extraordinarily secretive," Krasilovsky says. This secrecy keeps away not only thieves but also prying relatives and the tax man. "One of the benefits of owning precious metals is nobody knows you own it," Venzke says. "It’s the most private investment you can make."
Unless, of course, you feel compelled to post youtube videos sharing insights about where to stash your gold.
So, without posting videos of their personal explots in this matter, we querry Zero Hedge readers, many of whom are certainly not in the pro-fiat camp, to share their perspectives on what in their view is the best storage place for the one true currency.
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Home storage with plenty of decoy stashes.
I win. True story.
I have hidden Gold and Silver somewhere that I am willing to tell you exactly where it is.....
I am a Cave Diver and I have buried it 3000 feet inside a cave in the Florida Aquifer.... have at it,. As a matter of fact it is inside the Devil's Cave system at Ginnie Springs. Go look it up and have at it.... if you can find it, it is yours.
Very few people can even get to where it is and get themselves back out.....
Thank you SilverTard. I am going to sent Sipho in with a torch and garden hose. :-)
Or one of the Zama-zamas http://blogs.businessday.co.za/mundy/2010/07/06/zama-zamas-reflect-deeper-problems/
I hide my gold in my books. Thieves don't read (thank you Chris Rock for the advice).
I also have a light-weight safe with fake Krugerrands. Go figure...
Gold is tiny if you have brick walls or tiled floors lift gouge out some room glue the gold in and cover over with tile or cement.
Rule one as above never tell anyone where you store your metal, have more than one location and have a fake stash around the place.
For example have 500-1000 worth of stuff cash/cheap jewelry etc they can get into and out of real quick, don't even let them want to hang around trying to find more.
I don't believe in Altruism ! The most Altruistic thing one could do is teach Capitalism ! I'll bet there are 10,000 faux Altruists preaching Socialism for every decent bloke sharing the wisdom of Capitalism and charging a fee if he feels like ! Monedas 2011 The Egyptians are going after the Coptic Christians again ! So much for your enlightened "Arab Spring" !
Throw some your Gold coins in the Septic tank....they will sink to the bottom and lie flat ! When pumping the tank fit some galvanized rabbit cage wire over the mouth of the hose as an over kill precaution ! Monedas 2011 Pearl Divers Syndicate
Bury it under an existing water pipe - no need to go 4' down.
Pursuing our self interest in a free, Capitalist society we serve our fellow citizens abundantly....extravagantly ! Monedas 2011 Comedy Jihad Altruistic Circle Jerk
You can thank a friend for theft. Many times people get robbed by friends or aquaintances, why? Because they know what you have and where you keep it.
Remember the rule of three. You tell three people, then they tell 3 and they tell 3...and it's no longer a secret. Keep your mouth shut.
If/when the revenue man comes, have a small offering set aside showing that you are a compliant serf.
True. My only thefts, that I know of, were by aquaintences, friends of friends.
The world's single largest supply of gold is actually hidden in your backyard. Here's the proof.
http://tradewithdave.com/?p=8096
Dave Harrison
www.tradewithdave.com
I heard of someone who bought a pair of second-hand curtains at a charity shop. When they unpicked the hem to take them up, out fell a row of gold sovereigns - they had been used as weights.
I guess the owner died, the family never knew about the gold and donated all the household stuff to the shop. It might be an idea to tell someone where your gold is.
Other good ideas are inside plug sockets or light switches - UK ones have lots of empty space inside. Or hollow out the top of a door. Or inside the back of the washing machine.
Bad idea Grim, grounding a live device with the coin you are trying to hide is a very real possibility for those not electrically inclined, might get ugly.
Simple enough: make a small hole in the wall.
Hide stash in hole.
Cover hole with a real plug, but one which is not connected to anything.
"Et voilà !" : unless thief or law enforcement community has the time to test every single freaking power plug in your place, your stash is safely hidden.
If somebody tries to use the plug in front of you, just reply nonchalantly: "Oh, this one does not work - try the other one over there - I really need to fix this, but you know how it is, never enough time to fix everything around here, yadda yadda yadda".
I keep my gold in my girlfriends' _______?
nut sack?
Here's a question; I apologize in advance if someone else has already asked (didn't have time to read all the comments): If and when Dear Leader decides to kick in "FDR" mode, won't the USFG be able to go to APMEX, etc. and coerce them to produce transaction records?
I suppose "precious metals" shows (similar to gun shows), in which people could buy/sell/trade PM's without documentation, would be illegal due to the "capital gains" tax.
Side note: I find the concept of a "capital gains" tax on PM's to be highly offensive, since it's just another welth confiscation mechanism. FED prints money, PM's go "up" (when priced in dollars) when they may largely jus be preserving weatlh, you sell, USFG taxes your "gains". Power structure: 1, you: 0.
I guess the answer is yes, they could pressure APMEX and other resellers to produce records...
HOWEVER: unless you have spent millions of US$ on PM, I think the gov won't be very much interested in your stash.
I also suspect a lot of resellers would run into unfortunate computer glitches and/or sudden arson attack, leaving the vas tmajority of records completely unusable.
Finally, if you get that dreaded knock on the door, there is also the possibility of playing dumb and pretending you sold all of that Gold stash a long time ago to raise money to pay for your mortgage. Or, again, a legal fight in order to keep your money could be possible.
New to site. I hope this question does not cause a problem.
New to PM purchasing. Wanted to get suggestions on best places to purchase PM online.
Thanks in advance.
New to site. I hope this question does not cause a problem.
New to PM purchasing. Wanted to get suggestions on best places to purchase PM online.
Thanks in advance.
I use Blanchard's due to the reputation and age of the company. They have good prices too.
thanks. currently I use goldeneaglecoin and the are good. looking for options
Helllloooooo!!! The government does not have to confiscate gold. They can just tax any sales 50%. Game, Set, Match.
Can you say "black market"?
My government already taxes Gold sales. However, the government of the northern neighbour next to my country does not tax Gold sales.
If worst comes to worst, can you guess where I will sell all my Gold?
Burying gold is so old. Grave-robbing is close behind. Why not mine the gold already in your own mind. It's called Intellectual Property. IP, not gold, is responsible for ALL our prosperity. Gold is a headache, and ancient ego-substitute, and can get you killed being the only witness.
I can't even keep a freaking iPod in my car without getting it nicked. I'm screwed. But arent' we all?
A few pointers (Free PDF! Yay!):
http://www.freecommonlaw.us/images/HIDING.pdf
http://ebookee.org/Big-Book-of-Secret-Hiding-Places-free-ebook-download_...
There are other books on the same subject available for free "out there" on the Internet, but finding them is left as an exercise to the reader.
Of course, you have to adapt the excellent ideas in both these books to your particular situation. As the article points out, a very large amount of money can be moved around in a compact form by using gold bullion. Bullion is also superior to bars or ingots in that its compactness also provides a way throw your fortune in a "bug out" / emergency bag if need be.
I would personnally recommend splitting your stash in several different hiding places. This way, it is possible whoever is after it will miss part (or all) of the loot.
And that will be all from me on this subject.
Add an extra post to your deck. Make sure it matches the others. Plant your gold under the "support" with a thin veneer of concrete. Nobody is going to dig up a "footer" to explore a metal hit on their detector, especially if you gave them plenty to do by drivin railroad spikes all over the yard.
Place gold in condom and swallow.
LOL @ buying physical gold.
Buy lots canned food or calorie dense storable foods (tuna in oil, olive oil, sugar bars, freeze dried fat) flashlights, water distiller (solar powered), crank radio, lots of guns, barrels of gasoline/diesel, electric generator, hummer or powerfull suv
A brutal, modern day example of why you never discuss valuables kept in your home, and why just the appearance of money can be a magnet for trouble: http://www.cbsnews.com/8301-504083_162-5179747-504083.html
For more fictitional stuff, read the Deep Winter Trilogy by T. Sherry...
Some of ones stash could be stored in a rented self-storage unit, hidden inside a bulky, heavy, badly worn (scratched, dented, rusted, missing-a-part, etc.), low-value item.
Financial columnist John Mauldin wrote:
“For those who want to buy larger sums of gold, there is a program that I like backed / sponsored by the state government of Western Australia, called the Perth Mint. You can buy gold certificates that represent actual bullion in vaults in Perth at reasonable prices. While your gold is stored in Perth, you can take delivery if you want and leave the country with no taxes owed. Or you can sell the gold and get cash. You diversify your country risk, have excellent and safe storage facilities, diversify your currency risk (if, like me, you think of gold as a currency), and have a different asset class than traditional portfolios.
“You can learn more about the Perth Mint on its website, http://www.perthmint.com . And one of their dealers is an old friend of mine, Mike Checkan of Asset Strategies International. I have known Mike for about 30 years, and he does what he says and shoots straight. He is well-known in the investment information world, with lots of endorsements. You can learn more about his outfit here, http://www.assetstrategies.com , or call them toll-free at (800) 831-0007 in the U.S. and Canada, or direct at (301) 881-8600. You can also email them from their web site.”
Here's one place a metal detector can't uncover a stash of gold coins, etc.: If it's placed inside a hollow chain-link fencepost. Pop off its cap first (place a screwdriver below its lip and tap it upwards around its perimeter with a rubber mallet (to reduce noise)); replace it (tap down) when done.
Use a topless (sawed-off) Coke can with a coat-hanger "bail" threaded through two holes punched near the top edge. To retrieve, lower an untwisted (stretched-out) clothes-hanger hook to snag the bail. For convenience in recovering, place the can with gold in it atop up to ten empty Coke cans. Spread it around inside several posts in different locations (in case the fence gets taken down). They can be on public land, so if someone suspects you have gold, they won't be able to find it on your place.
This method (along with others of interest) is described in the book, “How to Hide Things in Public Places,” by Dennis Fiery, on Amazon at http://www.amazon.com/How-Hide-Things-Public-Places/dp/1893626466/ref=sr_1_1?ie=UTF8&s=books&qid=1257346141&sr=1-1
There are about a dozen other books on hiding places listed on Amazon. Some of these are fiendishly ingenious. Select their Books category and search for "hiding places". Here's the link: http://www.amazon.com/s/ref=nb_ss_b?url=search-alias%3Dstripbooks&field-keywords=hiding+places&x=0&y=0
Click on any of the relevant books that come up and then scroll through the items under "Customers who bought this item also bought," in order to see other books that the keywords in the initial search missed.
Here's a link to a Kitco thread on hiding places:
https://www.kitcomm.com/showthread.php?t=31055
The best way to hide your gold is to stick it up your ass.
My books are already filled with pistols. What to do.