Dear Money & Crisis Reader,
Last week, you heard all about the desperate lengths folks will go to steal your silver and gold…
And we discussed the only foolproof method to safeguard your stash.
But today, I’d like to do a deep dive on the safest methods of physically storing your silver and gold.
As you may already know, I’m not a fan of your typical heavy-duty safe.
On paper everything might look good, like the specs and the company’s track record…
However, a big safe unwittingly introduces a major weakness into your security system.
This weakness has penetrated countless security systems. It’s been used to hack the CIA. It’s even helped bring down governments…
I’m talking about the social factor.
You can have the most secure system in the world, but once you start letting people in on that system… it’s game over.
A big heavy-duty safe will be delivered right to your front door by a couple of guys in a truck… It will be hefted down your driveway in front of all the neighbors… And it will need to be installed and regularly maintained by a technician.
That’s already way too many people who know too much about your “secret” stash of silver and gold. And as we saw last week, every person who knows about your store of precious metal dramatically increases the chances that someone might try to steal it.
What’s more, even if your average burglar can’t crack your expensive home safe, simply finding it is a danger to you and your family.
If a burglar uncovers your big fancy safe during a sweep of the house, they know you definitely have something worth stealing.
Then there’s a good chance they’ll come back better prepared at a later date… or simply wait until you return home and try to force you to open it.
There is a better solution, however…
The Best Alternatives to the Classic Safe
Decoy safes (also known as diversion safes) are working safes disguised to look like ordinary household items.
These are things a burglar wouldn’t look at twice when ransacking your home.
I’m sure you’ve seen some of the classic decoy safes: the hollow book, the fake Coca-Cola can, the fake rock or even just an empty can of Folgers.
Now, these iconic diversion safes were a good idea when they were first conceived. But these days they are so well known that you might as well be leaving your cash in plain sight with a sign that reads, “Steal me.”
The good news is, there have been some innovations in this area that will easily fool even the most thorough burglar.
Here are some of my favorites:
The Fake PVC Pipe
This homemade option is going to be the best strategy for those with silver or gold bullion coins. It’s affordable, easy to access and will fool even the most methodical thief.
Run a long piece of PVC pipe between two spots — in a wall, overhead or even along the ground in your basement) to give the impression that it’s a working pipe.
Cut a midsection from the PVC pipe that’s just long enough to store all your coins. Put the coins in a protective sleeve and slide them into the pipe.
Fasten the midsection back in place with PVC snap clips.
Decoy Breaker Box
This is one of my favorite ideas on the decoy safe market right now.
Designed to look like a typical residential breaker box, this safe has a decoy electrical panel complete with fake fuses.
The best part? You line up the dials in the decoy box in the right combination to unlock that safe hidden behind it.
Fake Vent Safe
If you’ve watched Breaking Bad or any number of mafia movies, you’ve probably seen some genius try to hide their enormous stash of cash in a heating vent.
In reality, a working vent is a terrible place to put cash. Your valuables can get scattered throughout the vents, cause blockages and even create a fire hazard.
A vent-shaped safe provides an innovative solution. These decoy vents (available on Amazon) are inconspicuous and easy to install.
Decoy Wall Outlet
These simple safes are small compartments disguised as a wall plug outlet and secured with a flathead screw.
These might be small and low-tech, but at less than $10 online, it’s tough to find a cheaper solution for storing your valuables.
As always, keep sending me those emails. They let me know what you want to read and help me zero in on the most urgent problems. And I’ll be featuring reader questions here regularly. Click here to send me one right now.
All the best,
Editor, Money & Crisis
Editor’s note: The strategies you read in Money & Crisis were developed with the help of Jim Rickards, the best-selling author of Currency Wars and The Death of Money.
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