So, I was thinking it might be a good idea to bury large amounts (hoards) of paper money/bullion/coins in your back yard if you were going to go on vacation, and leave a note in a safety deposit box at the bank that tells family members where to look in the event of an accident while on the trip. If someone was on a trip, and they died, the next of kin would be told about the safety deposit box. They'd find the note, dig up the loot. No burglars would ever think to dig in the yard, and as long as the box was airtight, the coins would be safe.
I have thought along similar lines. Giving my brother the combination to my safe and in the safe would be bank acounts with access codes plus my silver and gold collections, in the event of a serious disaster where all are lost. My brother will be able to benefit from my loss although he would have to travel to the disaster area to reap the benefit.
IF your money would fit into the safe deposit box why not just put it there? Next of kin has a signature card and key to access. Going by recollections of rules by my wife here so I may be wrong. If bank finds out you're dead before next of kin can get to it then it's frozen - that means even a note telling them where your stash was would be frozen as well. Now, if you trust your relatives enough why not just tell them where it is or even leave it with them in a large padlocked box. Believe me I'm not just out to knock your proposal. Last Christmas my mom showed me where she keeps her bank savings book which has my name on it (I never knew). She said if she goes suddenly I am to close the account and dispurse funds BEFORE they know she is gone. Kind of morbid as my mom is a VERY healthy 75 year old woman. What is scary though is that the government, for some reason, thinks that money my mom saved belongs to them!
the problem is if there was a terrible disaster and you needed your collection in a hurry. i always thought would anyone be in the bank to access your safty depoist box. thats what has always scared me about banks
Here is how I have it planned out. I keep very expensive bank notes and gold, platinum in a safe deposit box... I have a computer program that details the purchase, whom I bought it from, how much, certification..ect, ect... I have left detailed instructions on the 3 major auction houses for my family to use in the event of my early death. The collection would be converted into cash, put into securties for my family and disbused when my son turned 21. There are a lot of things that can go wrong when burying such a cache of goods.... Take the time to setup a will and means of executing it with family members before anything is known.Keep detailed info on prices because your family may not have the same interest as you do and that is what scrungy dealers hope to find. Not all dealers are that way, but they do exist. Do your self and Heirs a favor...educate them with a paper trail. all the best! RickieB
I know! The Government, State and the people who picked up your weekly trash think they have a right to money that has already been taxed. I agree with "Ikes4ever" too, I dont trust the banking system... Big Federal Government will lock the banks doors and the contents will become theirs. With the account "pin" my relative can transfer and witdraw before the doors lock on the account too. Then come to my residence and help himself to my safe as per my last will and testament cause he has the combo therefor it is his.
Some problems I thought of with burying your Stash in the back yard. #1 In the wintertime the ground is frozen and hard to dig in to. #2 If you have a dog you dont want it digging it up #3 nosey neighbors might see you #4 moisture may rust the box or the lock making it hard to open or water may get into the box. I wouldent bury it in a location where water level is high like Luisiana.
I'd bury my collection but one thing is stopping me. With my luck, I would contract Alzheimers and wouldnt remember where I'd buried it.
IT would never work. Jim C (Mich) would find that stash before your relatives even knew you were gone!
Mine is at the bottom of my backyard fish pond. Only about 2 feet deep but covered by lilly pads. Airtight plactic containers. Freeze and thaw hasn't hurt them yet.
