Logistics of Large Quanties o' Physical Gold

[dualstow]

I can split this thread over the weekend if you want.

I do use online password storage and I’m not too apprehensive about it. But for the truly sensitive passwords, like a brokerage house, I encrypt the password myself before putting it online with the password management. A little less convenient, but that means that even if a hacker breached my equivalent of LastPass, they’d have nothing but gibberish in their hands. They’d have to decrypt that gibberish as well, and would probably die of old age first.

[SilentMajority]

If you have $1M in gold, your home is probably a multi million dollar home, or at least over 1M. Unless it's a condo in a major city........ You can easily hide the gold.

Get a shovel and go in the backyard at night. It's safer there than any safety deposit box, ETF, foreign vault etc. If the doo doo really hits the fan, you can kiss all that gold goodbye. Promises will not be kept if society crumbles.

[seajay]

If you have $1M in gold, your home is probably a multi million dollar home, or at least over 1M. Unless it's a condo in a major city........ You can easily hide the gold.

Get a shovel and go in the backyard at night. It's safer there than any safety deposit box, ETF, foreign vault etc. If the doo doo really hits the fan, you can kiss all that gold goodbye. Promises will not be kept if society crumbles.

With a multi-million home with a enclosed rear private field of a garden digging during the daytime is less conspicuous. At recent price 1M of gold = 500 one ounce coins stored in buried sealed tubing containing coins in water/air-tights and that's not going to melt if a house fire occurs. Being seen digging (if visible at all) during the day time is a inconspicuous gardening activity.

Primary is obscurity. Where you buy from/sell to keep records, details may be forwarded to the IRS (form 8300 https://www.irs.gov/pub/irs-pdf/f8300.pdf), if you insure gold ... etc are all sources of "this person at this address is a gold-holder". Loss/theft of that data attracting possible unwanted interest if large amounts/value is obvious. Some even broadcast their stacks on Youtube, and I suspect may also broadcast that they're off on vacation tomorrow for a couple of weeks. Potential thieves might raid when you and your family are at home, as a pencil held to a loved ones eye is a easy way to open safe's; Or trash the place whilst you're away for a week or two, emptying paint tins etc, checking plumbing, freezer contents, walls, doors, furniture, curtain rails etc. for possible hiding spaces.

The more off-radar the better. Smaller quantities. Fundamentally you're expected to keep very accurate records and even separate each individual coin to have how much was paid for that coin so you can report the gain when the coin is sold. More usually I suspect that people will tend to just cluster their stack and use a last/highest-priced in, pairing that against first out of same coin/year clusters. "I sold a coin today for $2000 which was a coin I bought a month ago at a garage sale for $2020 with loose change I had laying around at that time, I believe the garage sale was being held by a family that were moving abroad. I forgot to report the $50 capital loss to the IRS, here's the record of the $2000 sale proceeds I deposited into my bank account after that coin sale".

[Smith1776]

All this talk of stashed away wealth reminds me of the movie El Camino.