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Should I store my gold coins or bars in a safe at home?

Safe for storing gold.Whether your store your gold at home is up to you. Some people like to own gold, but are happy to keep it locked up in a safety deposit box at a bank.

First, you can bury it in your yard. So long as nobody sees you bury it, and you don’t talk about it, that’s about as safe as you can get. People may break into your home and tear the place apart, but unless they know there is gold out there, nobody is going to dig up your whole yard.But for many people the whole point of owning gold is to have it at home and within reach. If that sounds like you, there are a few options.

Second, you can hide the gold around your house. If you own just a few ounces or even a few pounds of gold, there are plenty of places to hide gold. Try the attic or in a box of old clothes in the basement. Once again, unless a thief knows about the gold in advance, he’s unlikely to tear apart the loft or go through old clothes in your basement.

Third, you can buy a safe and have it installed in a wall or the floor.

Is a safe the best place for your gold? Personally, I’m in two minds about it. If the safe can be found by a thief, you’re advertising the fact that you have something of value inside. In a worst-case scenario, an intruder can threaten you or your family unless you open it.

If I were to keep gold or other valuables in a safe, I would buy a safe that can be buried in the concrete floor of a basement. Then I would hide it by covering the area with old boxes or furniture. To me, a good safe is one that is both secure and easy to hide. If you can’t find one locally, you can buy floor safes at Amazon.com.

The best way to store your gold at home is to be quiet about it. Don’t tell your friends. Don’t tell your colleagues at work that you own gold. Don’t boast to your drinking buddies that the value of your gold coins just went up in value. Just keep quiet about it.

That said, you do need to tell at least one trusted person where you do hide your gold. If you get run over by a bus, you’d want your loved ones to be able to collect your gold. So make sure one or two people know where it is.

As for storing gold in a safe at home, just be sure the safe is both secure and hard to find.

More articles on owning and storing gold coins and bars…

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