Last Tuesday, July 28, 2020 Danielle Braff of The New York Times wrote an article about gold storage, a subject that has interested us for a long time. She interviewed a lot of interested parties, with some fascinating facts, but I’m afraid there was some disinformation presented in the article. She quoted several operators of private bullion vaults, who had a vested interest in recommending against the use of bank safety deposit vaults.
They also noted that some buyers are choosing to go the old-fashioned route and are storing their gold at home. Numerous YouTube videos and bloggers explain how to bury gold bars in everything from mincemeat to the backyard. But it’s wise to consider your options before simply stuffing your gold in a burial tube under a tree. They often leak! We strongly advise against burying gold in your mincemeat, in your backyard, or under a tree! Even a home safe is subject to a criminal holding you at gunpoint or knife point and demanding your access code. My 40 years of experience has shown that a bank or reputable security center safety deposit box is your best option.
Braff also reported that a survey of 1,000 people found that one out of six have invested in gold or other precious metals since May, and about half of Americans are seriously thinking about buying gold. That’s encouraging considering that an April Gallup poll reported that Americans had cooled somewhat on stocks after the big stock downdraft in March.