I have been reading your blog for about a year now. You have wrote about having precious metals like silver and gold in case of the devaluation of the dollar. My question is where would be a safe place to keep it. I considered a safe deposit box , however, I remember reading about the banks closing during the Argentine crisis. What suggestions do you have? Thanks.
Funny that you should mention it. Just a couple days ago another “boquetero” robbery took place in a bank in Buenos Aires. They cut through steel, concrete, fooled the alarm system and opened 99 safe deposit boxes. Bank safe deposit boxes aren’t what they used to be.
Argentina's `robbery of the century' upstaged by new heist
Besides, as you well say, during a medium to large scale crisis, banks will be closed when you need them the most.
Another advantage of precious metals is that they are relatively small.
Based on my experience and several accounts by others, the problem isn’t hiding it well, the problem is remembering where it is!
Its not crazy to consider leaving a small note in some other safe location (like a bank deposit box :-) ) where you leave the location of your stash. Try using a code you and your family will understand in case it falls in the wrong hands.
American construction typically uses wood frame and hollow walls, making it very easy to cut a hole and hide it inside. Some plaster, sandpaper and paint leaves no trace if you are not planning on reaching for it any time soon.
Modifying a power outlet can also work, and it will probably require to turn the power off before getting to it unless you risk electrocution.
Small amounts inside doors, furniture can be hidden. Just make sure its not something that can be stolen entirely.
A good idea, and the one I recommend, is having a big safe and a smaller one concealed with your precious metals. A well concealed secondary safe behind the insulation in the attic or behind a retractable board behind built-in furniture or shelves will be very safe. Specially when you already have a main safe as decoy in a place that is easier to find. Remember to buy a fire-proof safe. You'll probably keep valuables inside that are worth the extra expense.
Some people prefer to burry it in the backyard. If you’re careful so that no one sees you burry it, you can be sure no one will guess the location out of thin air.
If burying in some other location, be extra careful. Next thing you know you have a condo built over your stash!
Places that have no real estate value or are impossible to build in are good options in this case. Railroads are usually left as they are if they are in good shape and you usually have some time to dig it out if you see work being done near by. National parks are often kept as is for long periods of time as well.
Nothing will be as guaranteed as doing it in your own property though.
Its not hard to find a good place if you use your imagination.