1400 oz. of Gold, etc. Stolen from Home

[goodasgold]

Some of you have expressed irritation at well-meaning Uncle Goodasgold, who keeps posting a plethora of articles about thefts from "secure" home hiding places and uninsured safe deposit boxes:

http://www.washingtonpost.com/local/cri ... story.html

PPers tend to be wise and cautious people, but for some reason some of us, IMHO, are resistant to the whisper of common sense. Maybe this article will change a few minds, before it is too late. I don't want to preach or claim superior wisdom, but now is the time to take action if you haven't  done so already. Just sayin' 

Goodasgold

[Cortopassi]

I hope we are a bit wiser than this guy!
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The owner of the gold and silver noticed about the third week of June that the items had disappeared from a spare bedroom where he kept them hidden, according to a search warrant filed in Fairfax County Circuit Court.

The man told detectives that he suspected Martinez had carried out the theft. The victim said Martinez knew he collected gold and silver and had been inside his house on many occasions to do odd jobs and care for his dog. The man said Martinez also knew he kept one of his doors unlocked.
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Likely not in a safe, and door unlocked.  Good plan.

[dualstow]

Thanks, Uncle! 

[goodasgold]

I hope we are a bit wiser than this guy!... The victim said Martinez knew he collected gold and silver and had been inside his house on many occasions to do odd jobs and care for his dog. The man said Martinez also knew he kept one of his doors unlocked.
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Likely not in a safe, and door unlocked.  Good plan.

Sophisticated thieves know all - and I do mean all - of the hiding places. And small safes can be easily forced open or pried loose for removal. And many doors are vulnerable to the most basic burglar tools, such as a hefty screwdriver or a small crowbar, which can be easily concealed up a shirtsleeve.

[Pointedstick]

Sophisticated thieves would have no reason to target a house in the first place unless they knew it was a veritable Spanish galleon full of gold. Keeping your mouth shut is probably the most important part.

[flyingpylon]

Loose lips sink ships... and cause other "unfortunate boating accidents".

[AdamA]

Some of you have expressed irritation at well-meaning Uncle Goodasgold, who keeps posting a plethora of articles about thefts from "secure" home hiding places and uninsured safe deposit boxes...

You don't have to keep all of your gold in one place.  You can keep some in an ETF, some at home, some in a safe deposit box and some with the Perth Mint.  This hedges against the various risks (theft, loss, couterparty) that come with all of the different storage vehicles.
Much less stressful this way. 

[Libertarian666]

I hope we are a bit wiser than this guy!... The victim said Martinez knew he collected gold and silver and had been inside his house on many occasions to do odd jobs and care for his dog. The man said Martinez also knew he kept one of his doors unlocked.
-------------------------
Likely not in a safe, and door unlocked.  Good plan.

Sophisticated thieves know all - and I do mean all - of the hiding places. And small safes can be easily forced open or pried loose for removal. And many doors are vulnerable to the most basic burglar tools, such as a hefty screwdriver or a small crowbar, which can be easily concealed up a shirtsleeve.

If a safe had been pried loose, you would think the owner would notice that fairly quickly.
I'm going with the theory that it wasn't in a safe at all.

[dualstow]

I agree with Desert on small safes. I do have a small strongbox that could easily be carried away. But I live on a street of rowhouses (townhouses) crammed with watchful neighbors, plus I have a burglar alarm that is always on.

The strongbox is mostly a place for me to remember where my non-safety-deposit-box valuables are. And, as it's not in plain site, should do its job of preventing casual theft by new contractors, city inspectors, friends of friends.

[Reub]

Doesn't the supplier/shipper of the gold know where you live and that you have it? Isn't this a possible problem for anyone who stores it at home?

[Xan]

I hate small safes.  They're super-easy to crack, and mostly serve to notify thieves where the good stuff is.  I'd only use one as a decoy. 

I think there are only three reasonable locations for physical gold:
1. Safe deposit box
2. Some really clever hiding spot (not in the freezer, etc.)
3. A TL-15 or better safe, center-bolted to a cement floor. 

#1 is probably best for most people.

The issue with the one big safe is coercion.  If a robber has a gun on me or a loved one, then I'm opening the safe for him.  If the big safe has a couple of long guns, a couple of gold coins mostly as decoys, and the real stash is in a small well-hidden safe, then I'm still okay.

[dualstow]

Doesn't the supplier/shipper of the gold know where you live and that you have it? Isn't this a possible problem for anyone who stores it at home?

I have a good relationship with the gold dealer. He does very well for himself and would be better off robbing a richer client if he ever got that desperate. Wouldn't a supplier be more likely to run off with the gold people ship to him without paying for it?

And, for all he knows, mine's mostly in a safe deposit box. It is.

I wouldn't like it if a mailman figured out that the discreetly packaged  gold coins were ... gold coins. But, he'd still have to deal with the burglar alarm.

I almost wonder if stopping the mail or newspaper delivery [yeah, I know, what's a newspaper?] isn't a red flag that you are going to be out of town.

I feel this way and for that reason have never stopped the mail. It accumulates on the floor while we're away on long trips. I guess if I had to be away for months and months, I'd have a trusted friend or relative take care of it.

[Libertarian666]

Doesn't the supplier/shipper of the gold know where you live and that you have it? Isn't this a possible problem for anyone who stores it at home?

I assume that would not be true if you buy over the counter, assuming you pay in a manner that doesn't require you to give them id with your address on it.

But of course this is all academic for those of us with unlucky boating events...

[MediumTex]

A safe deposit box in a middle class community where everyone is up to their eyeballs in debt seems very safe to me.

From the safecracker's perspective, would a wall of safe deposit boxes in such a bank really be an appealing target?  Think about what is in most of those boxes.

[Reub]

And what about the banks like Chase that no longer allow gold bullion to be stored there?

[MediumTex]

And what about the banks like Chase that no longer allow gold bullion to be stored there?

I guess you would have to choose another bank.

[dualstow]

And what about the banks like Chase that no longer allow gold bullion to be stored there?

They do allow it. I wrote to them and they said gold bullion is a collectible and thus kosher for storage.

[lordmetroid]

Physical gold is a hassle and got way to grand spread as the companies selling gold bullion want to make a hefty profit, just use IAU!

[dualstow]

Physical gold is a hazel and got way to grand spread as the companies selling gold bullion want to make a hefty profit, just use IAU!

hassle?
Interestingly, google translate says that Swedish "hassel" is English "hazel",
but if you mean "kr�ngel", you want "hassle."