Editor's note: Today's Weekend Edition is a little different... It's almost entirely written by readers. You see, for years, we've been telling you to protect your wealth with physical gold. Well, you took us up on that... and have run into a thorny problem: where to keep it. Read on for a few solutions...
Saturday, September 19, 2009
I followed your advice & bought some gold bullion last year – when it was about $200/oz less than now. What I did wrong is put it in a safe when we moved to our new house. I had read your articles on where/how to hide physical gold... but I procrastinated too long in finding a good hiding place, or at least bolting my safe to the floor. Last week, our house was burglarized & they got my safe – along with my TV, computer monitor, & some jewelry. I don't care much about the other stuff, but losing that cash & gold stash hurt.
EVERYONE PLEASE LISTEN TO WHAT PORTER & CO ARE SAYING & HIDE YOUR CASH & GOLD VERY WELL – TODAY, NOT TOMORROW. With the numb-nuts we have running the show in Washington, crime will only get worse.
Buy some acreage and plant a big enough garden to provide food for a whole year at a time. You can live on potatoes if you have to. When you have acreage, bury your gold and memorize the GPS coordinates.
Write the GPS location down and put it in an envelope marked "to be opened in the event of my death" and give it to your estate attorney along with your will, just in case you die before you spend it all. Since GPS only gets you within about five to 10 feet, leave a metal detector for your kids.
Porter comment: I'd recommend something a lot easier: self-storage. It's like having a safe deposit box. But no government authority will know you have it. And nobody is going to ransack an entire self-storage facility looking for gold coins. You can find self-storage facilities in most countries around the world, too.
It was suggested precious metals be stored in a Storage Unit. I strongly disagree. Too many things could go wrong. And the goods are still behind someone else's gate and key. Not Good. Get a short section of PVC pipe, 2-inch or 3-inch suggested, the 2-inch will fit into the 3-inch I hear, if added strength is needed, and glue on end caps. Bury in a secure, simple, location, tell a few select Loved Ones. No keys, no people, no issues.
Back in the day whenever we would cross the border from Detroit to Windsor on our bikes we would normally be pulled to the side and searched. In order to keep possession of our stash, we would put a chrome tube on the bike that looked like part of the exhaust or fuel line... worked great (until the use of dogs).
In the spirit of the above post and in case your neighbor gets curious as to why you're burying pipe to nowhere, PVC pipe could also be made to look like part of your home's drain/sewer lines... Just friction fit, or glue them if you do not plan on accessing your gold for awhile... PVC is easy to cut with a hacksaw. Just like border guards are not bike mechanics, burglars are rarely plumbers.
When burying valuables in PVC pipe, bury the pipe below some other metallic object (scrap iron, old automobile spring, etc.) so anyone using a metal detector will give up on that location when they see the buried junk.
Burglars don't like attics. They are not easy to escape from. If you have an unfinished attic, put your gold/silver between the ceiling joists under the insulation. That blown-in crap is nasty. I don't even like to go looking through the stuff; and it's my own gold! Nevermind when I'm looking for yours!
From my propane tank to the house, the buried supply line is wrapped with a special tape so anyone in the future could find the line and not dig it up. I carefully dug under the line and buried my PVC pipe full of gold under it. When I checked with my metal detector, it just showed the buried gas line.
I hid it now I can't find it. At my age, the first thing to go was my hiding place. Someday someone will get rich tearing down my house and finding those nice shiny coins.
Date Range:9/10/2009 to 9/17/2009
Date Range:9/10/2009 to 9/17/2009