Physical silver and gold are just about the best investments you can make as a crisis investor… but they present a unique problem you just don’t get with other investments.
How on Earth do you store them securely?
Bury them in the backyard? Hide them in the walls?
Conventional wisdom suggests an expensive, heavy-duty safe is probably your best bet. But I’m sorry to say that may not be as secure as you think.
Back in 2013, a group of thieves set their sights on a safe filled with $250,000 in silver and gold in Marshalltown, Iowa.
On the surface, the old safe was a good bet. It was stored on private property… only a few people knew about it… and it was tough as hell to crack.
But even a high-security safe has its weaknesses…
Instead of trying to crack it open right then and there, the thieves simply stole the entire 700-pound safe. After which, they moved it to a secure location where they could take their time getting it open.
The safe was found a few weeks later, dumped in the river, empty as the day it was made.
The safe owner, who wished to remain anonymous, told WHOtv News that her father left her the haul of silver and gold and it represented a lifetime of hard work and saving.
“My daddy worked hard for his wealth. He started just like everybody else, started from the bottom and worked his way up and made everything that he had. He collected silver dollars, silver certificates, he had many silver bars, he collected silver bars that were in there.”
But to the owner, the very idea of stealing the 700-pound safe seemed logistically impossible.
“It was in a very small room. A narrow hall that it probably just fit through. And it had to be maneuvered around cars.”
But the thieves managed it.
That’s because the victim broke the No. 1 rule of owning physical silver and gold.
Silence Is Golden
I mentioned earlier that “only a few people” knew about the safe.
When I read this story, this information immediately set off my alarm bells.
Because when it comes to silver and gold, “a few people” is a few people too many.
Every person who knows about your store of precious metal dramatically increases the chances that someone might try to steal it.
Allow me to explain.
Let’s say you trust your brother with your secret. He’s an honorable man and you know that he will keep your secret.
But maybe he loves his wife more than anything… and he tells her everything… and one night over dinner, he has a little too much wine and it just slips out.
Now, his wife doesn’t know you as well as he does, and keeping your secret isn’t as important to her. So it isn’t long before she tells her sister… who tells her husband… who tells his buddy down at the bar… who’s knee-deep in debt and desperate for a score.
And that there’s the problem.
Most of the people in that chain of events are good folks. They don’t wish you any ill will. They just enjoy a bit of juicy gossip.
They have no idea that they are putting your wealth and your family’s safety in danger.
But the end result is just the same.
Play Your Cards Close to Your Chest
The only people who should know about your stash of gold or silver are you and potentially your spouse or partner.
If your wealth and safety are one and the same, then they should be able to understand the importance of secrecy.
However, problems can arise quickly if the marriage starts to break down.
You don’t want to wake up on Monday morning to a goodbye note and a missing suitcase full of silver.
So it’s entirely up to you if and how much you tell your spouse about your stash of precious metals.
When it comes to the kids… just don’t tell them.
Kids and teenagers are loose-lipped blabbermouths.
Young kids, with their half-developed brains, can’t keep a secret to save their life. And hormone-riddled teenagers are just too eager to impress people.
It’s not their fault. It’s unfair to unload that kind of information on a kid. It’s just going to drive them crazy wanting to tell people.
That’s why it’s better that they just don’t know.
Older kids… again, this one is up to you.
Knowing your parents are sitting on a store of gold and silver can mess with even an adult’s head.
Every time they get into even the slightest bit of financial difficulty, your stash is going to pop into their head.
I’m not saying they’d actually steal from you. But it may create tension in the family and even a little resentment toward you.
I say err on the side of caution and keep it to yourself.
As for where to hide your gold and silver, we’ll dig deep on that idea tomorrow.
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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