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Where/how would you (theoretically) store physical gold?

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3 hound

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Speaking theoretically and no personal details what methods and devices eg safes do you use.

I recently told my bank manager I was considering buying some gold and asked about storing it at the bank. The manager almost laughed at the idea and said haven't heard of any banks providing that service in years. I had no idea it was a laughable proposal.

I contacted a gold seller in the capital city and was told by them a lot of people just bury it.

Both seem unlikely to me, hence the question.
 
Safety deposit box both private and banks
There is specific Gold Bullion Storage
I think the WA Mint has a facility.
lots of private safe options
dig a hole and bury it well away from metal detectors.
Dont forget where it is best tell me so you have a backup plan !
 
tech/a said:
Safety deposit box both private and banks
There is specific Gold Bullion Storage
I think the WA Mint has a facility.
lots of private safe options
dig a hole and bury it well away from metal detectors.
Dont forget where it is best tell me so you have a backup plan !
Click to expand...
Safe deposit boxes are rare if not completely unavailable these days I am led to believe.

Will definately draw a map, scan it in and post it on this thread as an attachment. For security the attachment will have the file name "Private_NOBODY ELSE ALLOWED TO READ IT_ contains location of buried gold".

Follow the trail on the map to where you see a big red X and dig there. I have also used a spray can and painted a big red X on the lawn so you won't mistake the spot.

Thanks bro.
 
3 hound said:
Speaking theoretically and no personal details what methods and devices eg safes do you use.

I recently told my bank manager I was considering buying some gold and asked about storing it at the bank. The manager almost laughed at the idea and said haven't heard of any banks providing that service in years. I had no idea it was a laughable proposal.

I contacted a gold seller in the capital city and was told by them a lot of people just bury it.

Both seem unlikely to me, hence the question.
Click to expand...
two stories i remember .. one was a holder that got the kid/teenager to paint the ingot with enamel ( allegedly a modernist art student in the making ) and used it as a door stop in the home office

another had a bar of dore painted a drab ( but durable ) paint job and used it as the paperweight in the study , of course there are plenty of stories about secret cavities in the walls , floor , garage ,

one granddad allegedly buried his wealth and the surviving sons and daughters believed that so demolished the cottage dug up the yard and fruit trees and then sold the property as cleared land , the fly in the plan was my MOTHER ( not a BLOOD relative ) was the executor of the estate but was completely uninformed in all this ( including the executor part ) until the sale came to a screaming halt

the property was in NZ and mum was holidaying in North Qld , seems some lawyers incurred some hefty travel expenses , i realized granddad never trusted his surviving children ( apparently correctly ) so have never bothered to have contact with them since ( 30 years back ) i probably should be upset but mum's side of the family left me stuff ( when i expected nothing at all )

for those intent on burying it , there used to be survivalist guides that included discreet burials of large metal objects , i guess they would work for gold and silver as well

now one thing i have noted in my social circle , is NOBODY brags about their stash ( if they have one at all ) sure some have some fancy cars , designer watches , etc etc but the stash is the SECRET back-up plan ( if they have one )
 
If you buy the asx listed etf from the perth mint then they're storing it for you.

You can also request physical delivery at any time.

The perth mint is actually awesome ;)
 
wayneL said:
In our new house I've discovered a couple of secret trap doors under the old carpet. The place is 80 years old so when I manage to get them open... Who knows I may have a windfall profit :D
Click to expand...
SHHHSH !!

keep it secret ... good luck

remember check and think CAREFULLY , you would be amazed at what was just well-loved 80 years back , and almost priceless now

i know old lady who collects dolls ( and other old stuffed toys ) even rather worn and tattered can make your eyes water for the right one
 
** not advice - my opinions only from my own usage **

I store both gold and silver digitally via The Perth Mint
  • personal holdings in the GoldPass app
  • SMSF holdings in a Depository Online account
and it's stored in vaults, seperately insured by The Perth Mint plus has the extra layer of being guaranteed under legislation by the WA government
 
Being in the excavation field I have a couple of buried treasure stories

(1) While excavating a Mc Donald’s site old bottles were uncovered .The site was immediately closed and
an almost archeological dig started lasting 3 mths and I was told bringing in many 1000 s as the bottles were part of a dump pre 1900

(2) Mate of mine demolishing an old house in Glenelg in the late 80s Un covered an old and very worn rectangular metal Arrnot’s biscuit tin
in side 15000 Pounds and he still has them ( various Notes ) Have no idea what it’s worth but believe it’s enough!

Im sure the demo guys have some great finds!
 
tech/a said:
Being in the excavation field I have a couple of buried treasure stories

(1) While excavating a Mc Donald’s site old bottles were uncovered .The site was immediately closed and
an almost archeological dig started lasting 3 mths and I was told bringing in many 1000 s as the bottles were part of a dump pre 1900

(2) Mate of mine demolishing an old house in Glenelg in the late 80s Un covered an old and very worn rectangular metal Arrnot’s biscuit tin
in side 15000 Pounds and he still has them ( various Notes ) Have no idea what it’s worth but believe it’s enough!

Im sure the demo guys have some great finds!
Click to expand...
15000 Pounds was a huge amount of money then
www.dailymail.co.uk

Vintage house ads show dramatic housing jump in Sydney since 1965

A Sydney real estate ad from 1965 shows the difference in housing prices over 50 years. The old-style newspaper shows ads for Maroubra, Ashfield, Caringbah and Beverly Hills.
www.dailymail.co.uk www.dailymail.co.uk
in 1965, just before the move to AUD, that would have bought you 2 brand new houses near Sydney..
 
qldfrog said:
15000 Pounds was a huge amount of money then
www.dailymail.co.uk

Vintage house ads show dramatic housing jump in Sydney since 1965

A Sydney real estate ad from 1965 shows the difference in housing prices over 50 years. The old-style newspaper shows ads for Maroubra, Ashfield, Caringbah and Beverly Hills.
www.dailymail.co.uk www.dailymail.co.uk
in 1965, just before the move to AUD, that would have bought you 2 brand new houses near Sydney..
Click to expand...
not just currency .. all sorts of things ( in good and perfect condition ) can be a windfall , ( toys still in boxes , old but new car parts , etc etc etc )

moral is ... don't rush to clear out gramps place when you inherit
 
over9k said:
If you buy the asx listed etf from the perth mint then they're storing it for you.

You can also request physical delivery at any time.

The perth mint is actually awesome ;)
Click to expand...

signalFollower said:
** not advice - my opinions only from my own usage **

I store both gold and silver digitally via The Perth Mint
  • personal holdings in the GoldPass app
  • SMSF holdings in a Depository Online account
and it's stored in vaults, seperately insured by The Perth Mint plus has the extra layer of being guaranteed under legislation by the WA government
Click to expand...

Funny how people who think they are investing in gold don't even bother to read the PDS for the things they invest in.

PMGOLD is not an ETF. It's a call option on 1/100th troy ounce of unallocated gold.

Unallocated is the operative word. You do not own the gold. You own a unsecured obligation of Gold Corporation
While Gold Corporation will fully cover each PMG with
physical gold held by Gold Corporation, Holders of a PMG
have no proprietary rights or beneficial interest in any such
physical gold. As PMG is backed by unallocated gold, there is
some credit risk in this product.
The PMG is an unsecured obligation of Gold Corporation
ranking equally with all other unsecured obligations of
Gold Corporation. However, as the liabilities of Gold
Corporation, including its obligations under the PMG Terms,
are guaranteed by the Government of Western Australia
under the Gold Corporation Act 1987, any such failure by
Gold Corporation to fully cover each PMG means that you
ultimately have an exposure to the Government of
Western Australia.
Click to expand...

Exercise of the call option is entirely at the discretion of Gold Corporation.

Basically PMGOLD is a trading sardine on the gold price, not someone who holds gold for the purposes of holding a nonfinancial asset would ever utilise. You may as well trade the futures price and forget the bad spreads, high fees and high commissions on the ASX.

As to the original question, banks do still offer safety deposit boxes, and many other entities offer them in major cities as well, just google it. "Commonwealth Bank safe deposit box", etc.
 
InsvestoBoy said:
Funny how people who think they are investing in gold don't even bother to read the PDS for the things they invest in.

PMGOLD is not an ETF. It's a call option on 1/100th troy ounce of unallocated gold.

Unallocated is the operative word. You do not own the gold. You own a unsecured obligation of Gold Corporation


Exercise of the call option is entirely at the discretion of Gold Corporation.

Basically PMGOLD is a trading sardine on the gold price, not someone who holds gold for the purposes of holding a nonfinancial asset would ever utilise. You may as well trade the futures price and forget the bad spreads, high fees and high commissions on the ASX.

As to the original question, banks do still offer safety deposit boxes, and many other entities offer them in major cities as well, just google it. "Commonwealth Bank safe deposit box", etc.
Click to expand...

each to their own, and no mention of the legislative guarantee by the Treasurer ?
 
InsvestoBoy said:
As to the original question, banks do still offer safety deposit boxes, and many other entities offer them in major cities as well, just google it. "Commonwealth Bank safe deposit box", etc.
Click to expand...
Very hard to get one, I have one in Brisbane, none available on the sunshine coast, or it is just an envelope to store a few documents...
 
signalFollower said:
each to their own, and no mention of the legislative guarantee by the Treasurer ?
Click to expand...

I literally quoted the PDS. You are an unsecured creditor of the WA Government. If you want to bet on the price of gold, PMGOLD has got to be 4th or 5th down the list of products that meet the need. Wide spreads, high fees and high commissions.
 
InsvestoBoy said:
I literally quoted the PDS. You are an unsecured creditor of the WA Government. If you want to bet on the price of gold, PMGOLD has got to be 4th or 5th down the list of products that meet the need. Wide spreads, high fees and high commissions.
Click to expand...
I simply said you didn't reference the over-arching Gold Corporation Act (WA) either

1658974487999.png

to my understanding this level of government guarantee over and beyond that of a bullion broker's PDS is unique in themarket place
 
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