From Tom Dyson, Founder, Palm Beach Research Group:
I don’t trust my bank.
I don’t trust the ATM machine.
I don’t trust my money held in digital form.
So, I’ve started to build cash balances. I’ve begun withdrawing cash — in packets — and I’m hiding them someplace safe.
Here are two ways that I recommend to safely store large amounts of cash and/or precious metals in physical form…
Store your money in a fireproof safe on your property. If you’re planning to store a large amount of cash, say, more than $100K, I’d keep two safes — one big one and one small one. Put the small safe somewhere really discreet, and put 95% of your cash in it. Then, put the big safe somewhere less discreet, and put 5% of your cash in there.
If you ever get burglarized, the thieves will assume they’ve found your valuables in the big safe. They won’t keep looking for the small safe.
I rent my home, and I don’t have a safe. So, I do the next safest thing. I learned this in 2007 when I owned a lot of gold coins.
I fill PVC pipes with valuables, then I seal them. Then, I do a little “midnight gardening” and bury them somewhere safe.
(You can find PVC pipes in the plumbing aisle at hardware stores.)
This technique is as old as ownership. If you’re smart about this, no one will ever find your treasure. But make sure you tell one other person where you’ve hidden your loot, in case something happens to you.
(via The Crux)