Where to store gold?

[pa33]

Just wondering if people think its better to store gold in a safety deposit box or at home?

 

[gls]

I may be overly paranoid but I don't trust "safety" deposit boxes. As long as you don't tell anyone, I don't really see much risk with keeping it at home. For added protection, for not all that much money, you can get a safe that bolts (from the inside) to the ground.

 

[Dr.3D]

Just wondering if people think its better to store gold in a safety deposit box or at home?

A safe deposit box is not a safe place to store anything you really care about having.
Use your imagination and find a good place outside of any bank or institution to store your gold. Storing it a home is fine if you are able to hide it well.

 

[Bruno]

I may be overly paranoid but I don't trust "safety" deposit boxes. As long as you don't tell anyone, I don't really see much risk with keeping it at home. For added protection you can get a safe that bolts (from the inside) to the ground for not all that much money.

+1

Will you have access to your gold/silver in a safety deposit box if you need it? Maybe not. Can the govt. raid your box? I think we know the answer to that one.

 

[Cowlesy]

http://www.ronpaulforums.com/showthread.php?t=146939&highlight=gold+safe+bury

 

[Truth Warrior]

How about the basement of the NY Fed? Just be sure to put your name on it.

 

[pa33]

Well I am a little paranoid too, and if I store it at home, the govt can use its "patriot act powers" to come into my home whenever I'm not home, look for it and possibly take it. Not to mention normal theft/robbery is a concern. Also I've been thinking of buying at apmex.com which seems to have lower rates than my local coin dealer, but that would certainly leave a paper trail. I'm not sure there are any really good solutions.

 

[Truth Warrior]

Well I am a little paranoid too, and if I store it at home, the govt can use its "patriot act powers" to come into my home whenever I'm not home, look for it and possibly take it. Not to mention normal theft/robbery is a concern. Also I've been thinking of buying at apmex.com which seems to have lower rates than my local coin dealer, but that would certainly leave a paper trail. I'm not sure there are any really good solutions.

I think some Swiss banks still offer gold based accounts, FWIW. Check it out.

 

[Dr.3D]

Well I am a little paranoid too, and if I store it at home, the govt can use its "patriot act powers" to come into my home whenever I'm not home, look for it and possibly take it. Not to mention normal theft/robbery is a concern. Also I've been thinking of buying at apmex.com which seems to have lower rates than my local coin dealer, but that would certainly leave a paper trail. I'm not sure there are any really good solutions.

They will come into your home whenever they want anyway. If you have gold or anything they want in a safe deposit box, it won't stop them from taking it. It just makes it easier for them to do so. A paper trail isn't much of a problem as they won't know what you did with it after you bought it. You may have already given it to somebody else.

A thief won't usually take what he doesn't know you have. Make sure you don't tell anybody you have anything valuable.

 

[theoakman]

Well I am a little paranoid too, and if I store it at home, the govt can use its "patriot act powers" to come into my home whenever I'm not home, look for it and possibly take it. Not to mention normal theft/robbery is a concern. Also I've been thinking of buying at apmex.com which seems to have lower rates than my local coin dealer, but that would certainly leave a paper trail. I'm not sure there are any really good solutions.

Come on! Didn't you ever hide things from your parents when you were a little kid? They won't be able to find your gold if you hide it well. If the government comes looking for my metals, I lost them in a poker game, and I would challenge them to prove otherwise.

 

[pa33]

Come on! Didn't you ever hide things from your parents when you were a little kid? They won't be able to find your gold if you hide it well. If the government comes looking for my metals, I lost them in a poker game, and I would challenge them to prove otherwise.

Well apparantly there are special metal detectors designed specifically for gold. Thats what I'm worried about. If I'm at work all day who knows if the FBI is all over my house with metal detectors?

 

[Thrashertm]

I suggest you hide it near other metal, in the event that someone uses metal detectors.

 

[Dr.3D]

I suggest you hide it near other metal, in the event that someone uses metal detectors.

I have heard some say to bury it under the edge of a slab of reinforced concrete. The reinforcement rods in the concrete will be detected anyway and they won't know if was the gold or the rods they are detecting.

 

[AmericasLastHope]

http://www.youtube.com/watch?v=dVWf0htmoc8

 

[theoakman]

Well apparantly there are special metal detectors designed specifically for gold. Thats what I'm worried about. If I'm at work all day who knows if the FBI is all over my house with metal detectors?

Oh jeez. Seriously, you should be more worried about the bank trying to take your gold than the FBI. The amount of manpower and labor required to go in everyone's house to get their metal will cost way too much to be effective. It makes no sense. They would be better off letting you keep your gold, wait for you to spend it, then they grab it once it makes it's way into a bank.

The government doesn't have the manpower or resources to go on a nationwide treasure hunt to get everyone's gold. In fact, it would never work. They have a hard enough time tracking illegal drugs that move throughout this country. They get maybe 10% of them if they are lucky. And they don't even need a fancy search team to find it. They just need a beagle for that.

If the government went on a nationwide gold hunt, all you would have to do is wait until they search a close family members house. After they are done searching that house, you would move all your gold to somewhere they already searched. There's no way to effectively track down privately owned gold outside of raiding deposit boxes.

Like i said, they'll let it all come back into circulation because you'll have to spend it at some point. Then they would grab it.

 

[Bruno]

Oh jeez. Seriously, you should be more worried about the bank trying to take your gold than the FBI. The amount of manpower and labor required to go in everyone's house to get their metal will cost way too much to be effective. It makes no sense. They would be better off letting you keep your gold, wait for you to spend it, then they grab it once it makes it's way into a bank.

The government doesn't have the manpower or resources to go on a nationwide treasure hunt to get everyone's gold. In fact, it would never work. They have a hard enough time tracking illegal drugs that move throughout this country. They get maybe 10% of them is they are lucky. And they don't even need a fancy search team to find it. They just need a beagle for that.

If the government went on a nationwide gold hunt, all you would have to do is wait until they search a close family members house. After they are done searching that house, you would move all your gold to somewhere they already searched. There's no way to effectively track down privately owned gold outside of raiding deposit boxes.

Like i said, they'll let it all come back into circulation because you'll have to spend it at some point. Then they would grab it.

Well said!

Additionally, if they were doing house to house searches, you'd have plenty of notice due to the incredible manpower that would take. There'd be forewarning if tshtf and it got that bad. However, with the stroke of a pen the governement could make it a law overnight that a governement employee had to witness the opening of a safety deposit box.

And unless you live in a very small apartment, finding a good place to hide a few gold coins should not be a problem. Even a 100 oz bar of gold, were you so lucky to be able to afford one, would make a very small hole in the ground.

 

[rockjoa]

If you have less than $100,000 worth I would not worry. Why go after small time owners when it is much more cost and manpower effective to raid the vaults of companies and homes holding hundreds of thousands or millions of dollars worth of gold.

 

[Acala]

Yup

Come on! Didn't you ever hide things from your parents when you were a little kid? They won't be able to find your gold if you hide it well. If the government comes looking for my metals, I lost them in a poker game, and I would challenge them to prove otherwise.

It is for problems like this that water boarding was invented.

 

[Bruno]

http://www.youtube.com/watch?v=dVWf0htmoc8

Thanks. I had no idea how common this practice is!

 

[rapidtrends]

It is for problems like this that water boarding was invented.

The solutions man lol