Preventing Theft Of Gold Coins And Jewelry

There is a lot of talk out there about being prepared for the crash of the dollar. Whether that event is actually going to happen or not is anyone's guess. However, if you feel that collecting gold coins and jewelry is a great investment regardless of conspiracy theories, then you'll need to know how to protect them from theft. This guide aims to provide some tips on how to choose the best place to hide your coins.

Choose Three Hiding Spots

Spread your wealth around to various spots around the home. Keeping all your gold in one spot is a robber's dream come true. Of course, when you are first starting out in collecting, having three different hiding spots might seem pointless. But as your wealth grows, divide it up into three parts.

If someone breaks into your home and is lucky enough to find one spot, you'll still have the other two. Of course, any theft at all isn't good, but losing a few pieces is better than losing all of them.

Don't Make the Hiding Spots Obvious

There are numerous articles and videos telling people where to hide their coins. But they also tell thieves where to look. Choose an area in your home or backyard that most won't think of.

False safes are a good idea, but whatever you do, don't put a safe in the garage, where a thief can spot it quickly while the door is open.

Burying your coins and jewels in a bag could be ideal, but make sure you cover it up with flowers or grass. Otherwise, the area might be easy to spot.

Thieves are also not likely to head up to the attic while trying to grab and run, so this might be a good location for one of your hiding spots. Again, don't make it obvious that you've got something to hide.

Even if you don't have a criminal mind, try to think like a thief. Where would you first look in search of valuables such as gold? How long will it take you to get to the stash? If the answers are simple, then think of something harder.

Get Insurance

Having your coins and jewelry insured won't prevent a theft, but it can protect your wealth. Most coins are insurable for their current value, and the insurance company will either cut you a check for the amount or replace the items if they are stolen. Keep in mind that, in many cases, deductibles apply, so the insurance company will take the deductible amount off of what they owe you.

Take your time when considering where to hide your gold. Ask dealers and jewelers like Ed's Coins where most people hide theirs so that you'll gain a few  unique ideas or even learn of common places to avoid. The more unique the hiding spot, the harder time a would-be thief will have when they look for them.