# Best, most secure way to store gold and silver? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [October 1, 2019, 7:16am UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081 "2019-10-01T07:16:38Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![KneadToKnow](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kneadtoknow/32/3999_2.png) [@KneadToKnow](https://boards.straightdope.com/u/KneadToKnow)\ **Post date:** [October 1, 2019, 3:06pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/21 "2019-10-01T15:06:59Z")
Some good ideas here: > **[How to Hide Anything Michael Connor Paladin Press : Free Download,...](https://archive.org/details/How_to_Hide_Anything_Michael_Connor_Paladin_Press)** > > How to Hide Anything Michael Connor Paladin Press ---
**Author:** ![Orwell](https://avatars.discourse-cdn.com/v4/letter/o/dfb087/32.png) [@Orwell](https://boards.straightdope.com/u/Orwell)\ **Post date:** [October 1, 2019, 3:59pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/22 "2019-10-01T15:59:34Z")
> [@KneadToKnow](#): > > Some good ideas here: > > [How to Hide Anything Michael Connor Paladin Press : Free Download, Borrow, and Streaming : Internet Archive](https://archive.org/details/How_to_Hide_Anything_Michael_Connor_Paladin_Press) When I see something like that, it unnerves me. My uncle lived alone and died suddenly, and he had no kids. It was left to a few of us nephews to clean out his house. He lived in a kinda bad neighborhood, so I suspect he would have been concerned about burglaries. He was also kind of a hoarder, so there was lots of stuff in the house, and not nearly enough time to look through everything. We tried to think of where he might have hidden money and valuables (freezer, under drawers, etc.). He did use banks, so I don’t think he had a huge amount of wealth hidden. He never told any of us about hiding stuff, but I’d say odds are better than even that he had money or precious metals somewhere that we didn’t find. ---
**Author:** ![Marcus\_Flavius](https://avatars.discourse-cdn.com/v4/letter/m/a4c791/32.png) [@Marcus\_Flavius](https://boards.straightdope.com/u/Marcus_Flavius)\ **Post date:** [October 1, 2019, 4:22pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/23 "2019-10-01T16:22:36Z")
> [@Joey\_P](#): > > I would wager that the chances of a bank being robbed and your box being targeted as one the robbers decide to drill out and steal the contents of is substantially smaller than the chances of your house being robbed and the robbers stealing the same items. > > Assuming you’re in an apartment, I would suggest a safety deposit box. Regarding insurance, if you want it, talk to whoever your current insurance is with and see if you can get a rider specifically for the metals and make sure it can be insured if it’s kept at a remote location. > > If/when you do buy a house and you’re going to store it there the best way you can keep it protected is a floor safe, set into the concrete in your basement, under the stairs. Setting it into the concrete (or at least anchoring it) makes sure no one can pick it up and walk away and you set it under the stairs to make it harder to swing a sledge hammer at it. > > And the best thing you can do to keep it safe, regardless of where you keep it, is to keep your mouth shut about it. On the internet (though you’re somewhat anonymous here), to your friends, even to your family. > A few years ago someone I know was robbed. They took something like 100k in cash from a safe in his house. Of course, this guy was famous for showing off how much money he had. I can’t tell you how many times he’d go to pay for a drink (for example) and pull out thousands of dollars in cash, flip through it then put it back in his pocket and pull a similar wad out of his other pocket and hand the bartender the money. _Everyone_ that knows this guy knows he has a lot of cash on him and likely a lot more at home. One of those people took it. He’s lucky they ransacked his house instead of just killing him for the what was in his pocket. Being closed mouth subdued about your wealth is great advice. In fact, it’s easily the most important advice. There are so many hungry jackals out there, and many, many people, have been killed for much less than what I have. I don’t tell anyone about my hobby, not even family. There’s no one that I trust in that much, unfortunately. In the future, I’d like to invest in an in floor safe. Yes, it’s expensive, but worth it imo. One commenter recommended simply getting a somewhat heavy safe- I’ve heard stories about people breaking in houses and lugging 500lbs+ safes out of houses, so that is out of the question. ---
**Author:** ![kayaker](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kayaker/32/441_2.png) [@kayaker](https://boards.straightdope.com/u/kayaker)\ **Post date:** [October 1, 2019, 4:56pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/24 "2019-10-01T16:56:23Z")
Have you considered carrying your riches in your prison wallet? ---
**Author:** ![Marcus\_Flavius](https://avatars.discourse-cdn.com/v4/letter/m/a4c791/32.png) [@Marcus\_Flavius](https://boards.straightdope.com/u/Marcus_Flavius)\ **Post date:** [October 1, 2019, 5:06pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/25 "2019-10-01T17:06:35Z")
> [@kayaker](#): > > Have you considered carrying your riches in your prison wallet? I might hide something in your mom’s prison wallet. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [October 1, 2019, 5:07pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/26 "2019-10-01T17:07:19Z")
> [@Marcus\_Flavius](#): > > In the future, I’d like to invest in an in floor safe. Yes, it’s expensive, but worth it imo. One commenter recommended simply getting a somewhat heavy safe- I’ve heard stories about people breaking in houses and lugging 500lbs+ safes out of houses, so that is out of the question. “I’ve heard stories” is not the same thing as “this happens with astonishing frequency.” Note also that free-standing safes often include features that facilitate bolting them to the floor. This is obviously not as secure as a safe installed _in_ the floor. And it’s definitely not as secure as a safe installed in the floor that’s surrounded by alarms and monitored by a team of armed guards and attack dogs. Just how risk-averse are you? Are you trying to thwart an targeted attempt by a well-oiled team of professional thieves like the ones in The Italian Job, or do you just want to make the theft sufficiently difficult and time-consuming to deter random opportunistic intruders? The latter policy eliminates virtually all of your risk, while being affordable/feasible; the former policy eliminates a further small increment of risk, while being substantially more difficult/expensive to implement. ---
**Author:** ![Roderick\_Femm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/roderick_femm/32/14875_2.png) [@Roderick\_Femm](https://boards.straightdope.com/u/Roderick_Femm)\ **Post date:** [October 1, 2019, 5:30pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/27 "2019-10-01T17:30:44Z")
The floor safe idea is fine, as is the idea of putting it under the stairs, and making it well-hidden and hard to find. But, if you ever saw the youtube videos of someone who calls himself the Lock Picking Lawyer, don’t imagine that a floor safe gives you complete security. Do your homework to find the best one. But the main thing is to keep people from looking for it. Second times 1000 the idea of keeping this to yourself. I have stuff located somewhere that my husband doesn’t know about, because he can’t keep his mouth shut. He’ll find out of he survives me. My sister knows that I have it (and I know about hers) because we were co-heirs for this stuff, but she thinks it’s located in one place and it’s actually somewhere else. Also she’s more security minded than me, and her husband didn’t know where her stuff is because he was an alcoholic. Silence in this case is literally golden. Regarding silver: in the event of economic disaster, gold could be almost too valuable to spend easily, you could end up overpaying for stuff. Having silver available will likely be very handy for everyday transactions. ---
**Author:** ![markn\_1](https://avatars.discourse-cdn.com/v4/letter/m/f9ae1b/32.png) [@markn\_1](https://boards.straightdope.com/u/markn_1)\ **Post date:** [October 1, 2019, 5:32pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/28 "2019-10-01T17:32:33Z")
Many safes can be bolted to the floor or to a wall, with the bolt head being inside the safe, making it pretty immovable without doing extensive demolition. (If you bolt to a wall you’d want to go into a stud of course.) Your landlord probably would object to this idea, but if you just spackle over the bolt holes when you move out, probably no one will notice. ETA: Just noticed that Machine Elf also mentioned this. ---
**Author:** ![Marcus\_Flavius](https://avatars.discourse-cdn.com/v4/letter/m/a4c791/32.png) [@Marcus\_Flavius](https://boards.straightdope.com/u/Marcus_Flavius)\ **Post date:** [October 1, 2019, 5:50pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/29 "2019-10-01T17:50:25Z")
> [@Roderick\_Femm](#): > > The floor safe idea is fine, as is the idea of putting it under the stairs, and making it well-hidden and hard to find. But, if you ever saw the youtube videos of someone who calls himself the Lock Picking Lawyer, don’t imagine that a floor safe gives you complete security. Do your homework to find the best one. > > But the main thing is to keep people from looking for it. Second times 1000 the idea of keeping this to yourself. I have stuff located somewhere that my husband doesn’t know about, because he can’t keep his mouth shut. He’ll find out of he survives me. My sister knows that I have it (and I know about hers) because we were co-heirs for this stuff, but she thinks it’s located in one place and it’s actually somewhere else. Also she’s more security minded than me, and her husband didn’t know where her stuff is because he was an alcoholic. Silence in this case is literally golden. > > Regarding silver: in the event of economic disaster, gold could be almost too valuable to spend easily, you could end up overpaying for stuff. Having silver available will likely be very handy for everyday transactions. Yes, the importance of"keeping quiet", both in action and speech, cannot be overstated. Regarding your last point, I have a lot of ‘junk silver’ ie quarters and dimes that were minted in 1964 and earlier. They’re 90% silver and mostly copper for the remaining 10%. ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [October 1, 2019, 5:57pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/30 "2019-10-01T17:57:15Z")
In the event of SHTF my bug out bag will be heavy enough, don’t need gold bars weighing me down. Anyway, gold soup is not very tasty. If you bury it somewhere don’t draw a giant ‘X’ on the ground above it, dead giveaway. ---
**Author:** ![Marcus\_Flavius](https://avatars.discourse-cdn.com/v4/letter/m/a4c791/32.png) [@Marcus\_Flavius](https://boards.straightdope.com/u/Marcus_Flavius)\ **Post date:** [October 1, 2019, 6:06pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/31 "2019-10-01T18:06:01Z")
Well, it looks like I’ll be storing my belongings in a safe deposit box. $100-$200 annually seems like a reasonable price to pay to ensure I won’t be robbed blind. They seem to be a far and away more safe and secure option than what I’m doing now. ---
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [October 1, 2019, 6:07pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/32 "2019-10-01T18:07:17Z")
FWIW, my wife and I had someone break into our bank account and steal something like $20,000. The bank recovered our losses in 5-10 business days. Can’t say the same about a James Bond cache of passports and cash in five different currencies or bag of gold sitting in a safe deposit box or wall safe behind a painting. [You could purchase this safe for $6,100](https://www.google.com/search?rlz=1C1CHBF_enUS853US853&biw=1536&bih=722&tbm=shop&q=safes%20for%20sale&tbs=vw%3Al%2Cmr%3A1%2Ccat%3A3819%2Croot_cat%3A538359%2Cinit_ar%3ASgVKAwjrHUoHsgQECPftIA%3D%3D%2Cprice%3A1%2Cppr_min%3A6000%2Cppr_max%3A7000&ei=Q5WTXbyYMo-t5wLAmpPgAQ&ved=0ahUKEwj8xeiC0_vkAhWP1lkKHUDNBBwQuisIhgMoBA#spd=14803538350801583158)and use it to keep your remaining $900 of gold. Maybe hire a tiny dragon to sit on it? ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [October 1, 2019, 6:26pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/33 "2019-10-01T18:26:13Z")
If you are worried about inflation risk, then you might want to hold a Gold ETF. It’s basically a stock in a corporation that holds gold. If the central banks make fiat currency worthless but the basic financial system continues on operating, then the value of your shares will track gold. Buying that is going to be a lot cheaper than paying a few hundred a year for a box. If you’re worried about the whole banking system coming to a crashing halt, I don’t think you should put your gold into a bank box. If things get so bad that banks stop honoring deposits, why would they honor deposit boxes? ---
**Author:** ![jz78817](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jz78817/32/1028_2.png) [@jz78817](https://boards.straightdope.com/u/jz78817)\ **Post date:** [October 1, 2019, 6:28pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/34 "2019-10-01T18:28:56Z")
> [@Beckdawrek](#): > > Anyway, gold soup is not very tasty. you just reminded me of [this story.](https://www.tolerance.org/magazine/fall-2007/chicken-soup) ---
**Author:** ![Euphonious\_Polemic](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/euphonious_polemic/32/3002_2.png) [@Euphonious\_Polemic](https://boards.straightdope.com/u/Euphonious_Polemic)\ **Post date:** [October 1, 2019, 8:01pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/35 "2019-10-01T20:01:13Z")
1. Convert is all to gold. 2. Sew pockets into the inside of your clothes, and carry it around with you. I mean, we’re talking only around 5 ounces of gold. It it’s all in silver, then we’re talking 25 pounds of silver. Still do-able, but you’ll jingle a lot when you walk. ---
**Author:** ![Garak](https://avatars.discourse-cdn.com/v4/letter/g/d78d45/32.png) [@Garak](https://boards.straightdope.com/u/Garak)\ **Post date:** [October 1, 2019, 8:15pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/36 "2019-10-01T20:15:34Z")
Have you considering converting your assets to bitcoin? No one can break in and steal that ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [October 1, 2019, 8:25pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/37 "2019-10-01T20:25:34Z")
> [@Garak](#): > > Have you considering converting your assets to bitcoin? No one can break in and steal that Given that people who invested their bitcoin with [Quadriga](https://www.bbc.com/news/world-us-canada-47203706) wound up being defrauded, that may not be foolproof, either. ---
**Author:** ![Beckdawrek](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beckdawrek/32/3647_2.png) [@Beckdawrek](https://boards.straightdope.com/u/Beckdawrek)\ **Post date:** [October 1, 2019, 8:31pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/38 "2019-10-01T20:31:32Z")
> [@jz78817](#): > > you just reminded me of [this story.](https://www.tolerance.org/magazine/fall-2007/chicken-soup) That’s a cute story.🙂 ---
**Author:** ![kanicbird](https://avatars.discourse-cdn.com/v4/letter/k/5f8ce5/32.png) [@kanicbird](https://boards.straightdope.com/u/kanicbird)\ **Post date:** [October 1, 2019, 8:32pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/39 "2019-10-01T20:32:21Z")
1: Buy a cheap floor safe on Amazon. 2: Add papers, fishing weights and some nails in it. 3 Lock it 4:Put it in your bedroom closet. 5 Remove your dishwasher 6: Place gold and silver there 7: Replace dishwasher. ---
**Author:** ![Corry\_El](https://avatars.discourse-cdn.com/v4/letter/c/ecae2f/32.png) [@Corry\_El](https://boards.straightdope.com/u/Corry_El)\ **Post date:** [October 1, 2019, 8:34pm UTC](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081/40 "2019-10-01T20:34:52Z")
We use safe deposit box, but OTOH don’t have a ‘distrust of the financial system’ that manifests in specific predictions of a near term collapse. The fact that SDB’s aren’t insured (unless you separately arrange that with an insurer) is worth noting but as in first point I don’t foresee near term breakdown of every day financial norms where theft/loss from SDB’s is very rare. In the house there would also be more risk to fire as well as more to theft. And having somebody install X in your house introduces the risk _they_ know of it. And a given trades person no offence to them probably isn’t as reliable to keep it to strictly themselves as bank personnel who keep the bank’s customers’ dealing to themselves as a basic part of their everyday business. Though you could of course run into the exception to that rule. I guess the most basic problem is if the precious metals is a really significant % of overall net worth, ours isn’t, it’s to have _something_ in unlikely scenario’s most gold-buggish type people tend to view as actually likely. Often I think they do implicitly just by harping on it all the time so it takes on a likelihood in their minds that’s higher than the real one. But I don’t think the real chance is zero either, as some anti-gold bugs seem to think. [Previous page](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081.md?page=1) [Next page](https://boards.straightdope.com/t/best-most-secure-way-to-store-gold-and-silver/841081.md?page=3)