Major burglary . . . 300 oz AU

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Holy cats.

When people talk about not trusting banks or the market, this is the sort of thing I think about.

 

That's terrible.

 

OH MAN !!!! that suxs big time. wouldn't you like to get your hands on him,them,her, whatever it was, preferably around their pie hole and squeeze and feed them ASE done their throat. I hate a freakin thief. thats all rant over.

 

Doesn't really give much to go on. I'm just going to guess this is a safe-cracking ring meaning they know how to keep the distribution on the quiet.

 

The way things like this would happen in "the neighborhood" (and I'll just leave that at that) is the burglars were tipped by a local. The tipster gets paid and the burglars get the burglary. They don't pull these jobs off without a tipster.

 

Sad news. I feel sorry for the victim and hope this was not their life savings.
It's also sad that there is a 50 day window that the theft happened. That sure gives the bad guys a nice head start.
I would bet the sheriff has a list of those that knew there was a half a million in gold being stored in the house. Chances are, it was a friend or family.

 

That 50 day widow is interesting.
Maybe an alternate home?
But active security system/cameras on a half million in PM's wouldn't be the worst money spent.

 

I didn't catch the 50-day window the first time. He might just not check his safe very frequently -- but if he was living there the whole time, it's even more chilling.

 

If you can afford 300oz gold, you can afford more than one safe or better home security (reinforced doors and windows, security system/alarm, etc.). It's sad that this happened, but I have to think it could have been prevented with some better attention to security matters.

 

Reinforced doors, security systems, and multiple safes don't help if the culprit is in a position of trust. Having half a million to spend on gold doesn't necessarily imply good judgement, but even if you DO have good judgement, you can still be betrayed.

 

Report in the OP didn't make clear the timeframe of the theft. I thought it was a break-in/burglary.

50 day window and I'm thinking the elderly folk need to talk to their children...

 

Or stop talking to them, if that turns out to be the answer.

 

And to think…. I was just grousing about my gold being locked up at the bank just a week ago. I take it all back now…. And home they catch the lowlife. And inflict pain when they do. I have zero sympathy for a crook.

 

@eddiespin, I think you're right that this job was, unfortunately, aided by a very untrustworthy tipster.

This adage from one CT poster bears repeating: A secret is between you and yourself.

My own family and friends do not know that I am interested in or collect coins at all. Not willing to risk being betrayed in any fashion.

 

That’s allot of GOLD, but hopefully it will be covered under there homeowners policy
as long as they kept good records it shouldn’t
be a problem.

 

You really, really need to read the fine print on your homeowner's policy, if you haven't already.

For example, from State Farm's standard homeowners policy in OK:

https://www.oid.ok.gov/wp-content/uploads/2019/08/040218_HW-2136-2017.pdf

If you want gold covered, you generally need a rider, and you need to pay an extra premium. And that premium isn't cheap. I'm thinking it's 1-2% of covered value per year -- so, $20-40 per ounce per year.

That would put the premium for 300oz of gold at $6000-12000 per year.

 

I think if your going to keep that much GOLD
at home that you would make sure it’s covered that’s a no brainer in my book !
or if not a safe deposit box might be a better
option ?

 

Get insurance thru Hugh Wood or another reputable company. As stated above riders on homeowner's policy can be very expensive, I know, I checked with my State Farm agent years ago here in VA and not doable. Also, many banks and credit unions have restrictions on how much they will cover for loss, if coins or bullion are even allowed under lease agreements, and the terms of these agreements change all the time.

 

IF anyone here still has a safety deposit box, they better go check the contents and ask for new update guide lines as to what you are allowed to store and coverage.
Better kept at home.