Estimated reading time: 6 minutes
If you already have precious metals or are considering getting them, you need to find a way to keep them safe from thieves. There are several options. But before I get into them, I want to emphasize something.
If you own gold or silver, you should only tell one other person about it. This should be someone you trust completely. Don’t tell your friends, your coworkers, your family, or even your children. It’s not that any of them would steal from you. The problem is that people talk. And if lots of people know you have precious metals, a criminal might find out in passing. Pick one person, tell them the location, the combination if applicable, and include them on the safety deposit box registration if you have one. This is so they can get to it in case you die or are incapacitated. Now on to the hiding spots.
In A Home Safe. This is the most obvious choice. But if you get a safe, you might want to get it bolted or cemented to the ground. Safes are heavy, but that won’t stop a crook from using a dolly to wheel it out of your house and figure out how to open it later. You should also make sure it’s waterproof and fireproof. I recommend one with a combination lock since safes with key locks are easier to bust open. Also, keys can be lost or stolen. Just make sure you don’t forget the combination.
You could also get a decoy safe. The idea is to get a safe, put just a few coins, a little bit of cash, some fake jewelry, copies of important documents, etc. inside, and place it somewhere easy to find like in your bedroom closet. When a thief finds it, he’ll think he hit the jackpot, then he’ll take the decoy safe and leave. What he won’t know is that you have another, smaller, well-hidden safe with the real goods inside. Put that one somewhere deep in the garage, basement or attic behind some random junk.
