Recluse Storing Gold At Home
In Carson City, Nevada an old recluse died and the honest souls searching his residence found around $7 million in gold stored at home.
Was this a wise move to store that much money in gold at home, not in any kind of a home safe, but just in boxes stashed around the house and garage?
Well, criticize all you want, but it worked for him.
How Do You Keep Gold Safe At Home?
I think most people who have valuables stored at home worry about both theft and fire. Gold won’t burn up in a fire, but it can melt down and need to be purified, assayed and re-fabricated.
My guess about lack of theft of $7 million in gold stored at home comes from one simple fact:
the old man kept his mouth shut.
We are presuming that the man lived in an unassuming home as well, something that was not viewed as a target for burglars.
And while he could have perhaps used some form of midnight gardening to keep his stash of gold stored at home; he apparently didn’t. (Maybe someone should grab a shovel and check around in the yard?)
The man was not using the gold to pass on his wealth anonymously or bypassing any inheritance taxes. No, you need to have someone EXPECTING to receive it upon your death, and checking periodically to see if you are still alive. Neighbors reported a smell…
Apparently he just preferred to keep the vast portion of his wealth in gold coins of various mintings.
Old Man Accused Of “Hoarding” Gold
One interesting aspect of the article, to us anyway, was that the old man’s stash of gold stored at home was referred to as “hoarding” gold. Funny; if he would have had $7 million in cash at the local Wells Fargo no one would have said he was hoarding cash at the bank.
And these days, unless you choose your bank carefully, $7 million in one bank may not be much safer than the money in a mattress at home.
How would they prefer he hold $7 million in gold, an ETF, I suppose? (Not GLD, please!)
Keep this in mind should you talk about owning gold; you will likely be ostracized if not outright robbed!
If you do choose to store gold at home, have a plan for if you die! Tell one person only, though, or maybe multiple children if you think they won’t kill each other over it. Otherwise tell the honest one!
Besides that, though, keep you mouth shut and either hide in plain sight or hide carefully.
A home safe can be a good idea but only if it’s strong enough to actually deter and best if it can be not found in the first place. You don’t want them to come back later and “ask” you to open it!