Store gold at home for quick access to your wealth.
But beware … gold home storage is risky and sometimes impossible to insure.
We do not recommend you store any of your retirement gold at home.
If you do have some small amounts of gold you wish to store at home, we’ll show you some clever ways to hide your valuables.
Otherwise, place your gold for your retirement in a bank safety deposit box or even better, a bullion vault.
Late’s have a look at the pros and cons of storing your gold at home.
You know where your gold is held.
You have easy access to move the gold at any time.
No storage fees.
Expensive (or not possible) to insure your gold at home.
Must be kept a secret otherwise word gets around you have gold.
Easy to steal (compared to a bank vault) once the location in your home is known to others.
Your gold is at risk from fire and flood and household disasters.
May have to buy a safe or secret cabinet to store your gold.
How Much Gold Should I Store at Home?
We believe you should only hold a small amount of gold at home.
The exact amount depends on you. However, it should not be any of the gold you are holding for your retirement.
DO NOT store your retirement gold at home. If any disaster should happen to your home or a theft occurs – you have lost the gold you bought to protect your retirement.
Here is a quote from home security company, Ackerman Security:
” … don’t keep too much cash at home. Keep as much as you need in your wallet or purse and only take out cash as needed.”
This quote is from a firm whose business it is to give advice on making your valuables and home secure. They do not believe that storing large amounts of valuables, money or precious metals is a good idea. We think it’s worth paying attention to their advice.
If you still want to store gold at home, then use the “sleep well at night” test …
- Can you still sleep well at night even if you lost the gold you store at home?
- If you can’t sleep well … you’re storing too much gold at home.
Don’t become a news story like these people …
How Do I Store Gold at Home?
If you have decided to go the gold self-storage route (don’t say we didn’t warn you) then it does not hurt to be a little creative in how you hide your gold.
Don’t forget, if you have a fire or flood, your gold could be melted or washed away – no matter how creative you have been with the hiding place.
Here are some ideas to get you started …
- Hide a gold coin inside a bottle of pills
- Inside a secret safe book – a book which has been hollowed out
- In the middle of a VHS tape – who’s going to steal a VHS tape?
- Inside a folder in a filing cabinet
- Hide some of your valuables in a jar of rice and store at the back of a shelf
Need more inspiration?
Here is a list of websites with unconventional and just plain weird (a fake lettuce in a fridge?!) ways of hiding valuables.
Apartment Therapy – check out suggestions for using an old vacuum cleaner and a fake head of lettuce.
LifeHacker – great idea to plant a fake stash of money to make a burglar think they have found your valuables.
International Association of Certified Home Inspectors – false bottom in a trash can is just one idea.
Kevin Coffey – security expert – suggests defrosting a bag of frozen vegetables, put the valuables inside the bag and re-freeze.
Ackerman Security – this professional home security firm says that if 2 people can lift a safe, it is not secure. Make sure your safe is bolted and immovable.
A Secure Life – what about choosing some old paint cans in the garage to store some valuables?
We hope you enjoyed some of these great gold home storage ideas to safely store small amounts of gold, jewelry and other valuables.
What About Self-Storage Gold IRA’s?
There are a number of firms promoting the idea that you can buy gold, set up a third party IRA custodian for your gold and have that custodian store the gold at your home.
These are known as a self-storage gold IRA.
The idea is that you have visibility and control of your retirement gold.
Do not be taken in by the self-storage gold IRA sales pitch. They are encouraging you to store gold in the riskiest place possible. Be careful that no IRS rules are being broken.
We recommend you choose a listed gold bullion dealer who can organize the set up of an IRA custodian, your IRA rollover and the storage of your gold in a bullion vault that meets IRS guidelines.
After all, you don’t want to take chances with your gold, your retirement is at stake.