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Two Letters Re: Advice on Storing Precious Metals--Are Safe Deposit Boxes Safe?

Hello Jim,
I think the problem with the links readers sent you about how and where to hide precious metals, cash, etc., miss the most important point--it's not the hiding place itself, but how inaccessible or well-concealed the hiding place is. Given enough time, anyone who knows what kind of faux storage containers to look for (e.g., a can of soup) will naturally check there first. Unless items are stashed away in your bug-out location, burglars will typically want to get in and out of a house as quickly as possible.My recommendation would be to not only install a floor safe in [a dry] basement or in a corner of the house, but to also make that spot as inaccessible as possible under normal circumstances. Install the safe in the far back corner of the basement, then stack as much clutter as possible on top of the spot--what thief worth his trade is going to waste his time moving dozens of boxes of Christmas ornaments, old clothes, books and furniture to see if there might be a safe underneath everything? In the meantime, small stashes of precious metals and other valuables can be hidden in various unlikely spots around the house [for use] until the home's residents get a chance to go down and move all the clutter to access the safe. It might sound like way more work than it's worth for some people, but it's a lot easier than trying to replenish stuff that should've been hidden in such a place to begin with. - Chad S.

James,
I really appreciate your blog and the info. God bless you for it. Regarding the articles that you mention and link "Seven Secret Places to Hide Cash in Your Home"; I don't believe [this article] is completely sound advice.

First, now that the information is out in the open, on the public Internet, none of those options are still valid as protection against thieves. Granted, probably not many actually surf those type of blogs. However, with thieves something like that travel by word of mouth very rapidly. In fact, a close friend of mine who is a corrections officer at Federal penitentiary refers to the institution as a" college for bad guys".

Secondly, none of the seven options offer protection against fire. Additionally, insurance companies do not cover cash losses on their policies.

What are some viable options? Personally, I use a heavy fire-proof gun safe, that contains a smaller water-proof and fire-proof safe inside it for my important papers, cash, and gold coins. With that combination, I have several hours of fire-protection. Another option I'm considering is burying some cash in a sealed in ziploc bags inside a PVC container somewhere outside where it is unlikely to be accidentally discovered by digging.

Just my initial thoughts. Again, I really appreciate the information and your efforts. May God bless you and your family. In Christ, - S.R. in Kentucky

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