Keep your coins and bars safe from the gold thieves

Physical Coins and Bars

The joy of owning physical gold coins and bars lies with the enjoyment of holding it in your own hands. The sheer weight of the gold, coupled with its unparalleled beauty, reinforces the knowledge and comfort of owning something of real value. With so many ‘paper assets’ becoming worthless overnight, the tangible nature of physical gold remains one of its most compelling selling points.

However, the one danger of keeping such a valuable asset in your possession is the threat of theft. So if you’re considering investing in gold, read on.

It seems that a particularly well-organised crime ring in the Greater Manchester area is well aware of this vulnerability. They also know that gold is synonymous with the Asian market where it has been bought and kept by Indians especially for many years. This tradition has clearly flowed over to British citizens of Asian origin, as this particular crime gang realised. They’ve been targeting Asian families in Manchester and Salford for their gold coins and bars.


Show me your gold

The gangs of men have been known to smash through patio doors with a brick to enter premises, fully clad in balaclavas and wielding machetes.

As well as demanding car keys, the thieves have asked: “Where’s the gold?” Some have even asked this question in Punjabi, suggesting that their knowledge of the gold’s existence stems from some of them being Asian themselves.

The spate of attacks has been particularly frequent in the Spring and Summer months, renowned as the Indian Wedding season when many Asian families purchase gold as wedding presents.

Clearly, the thefts have left many families feeling vulnerable and considering alternative places to store their gold.

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Secure stores for gold

The whole point of owning physical gold is to have peace of mind that you possess something of real value. Therefore if you’re losing sleep over a safe place to store it, then it makes sense to pay for somewhere secure. And you don’t have to resort to storing the gold in your stomach as one man did in our recent blog.

If you’re lucky then you may already have a safe deposit box with your bank. Fees are low at around £30-40/year, but space is tight and access has to be arranged during banking hours. This will certainly remove the worry from your home although if robbers targeted the bank you wouldn’t be covered for loss unless you had your own insurance. Realistically these days, such facilities are difficult to find as high street banks have experienced a rise in demand for boxes, leaving little space for new safe deposit customers.

A similar alternative is to hire a 3rd party safe deposit box. A tiny box will set you back around £130/year but you will most likely have 24-hour access to the box. Unfortunately, these facilities aren’t on every street corner so you may have to travel to gain access to your gold.

Insider's Guide to gold and silver

Peace of mind

The safest option is to utilise specialist precious metals facilities as offered by gold dealers such as ourselves. It will cost you slightly more, but it includes insurance, handling and peace of mind that the gold is being stored by experts so your coins and bars will not tarnish. Be sure to check that your gold is being stored on an allocated, segregated basis. This basically means that you have real gold allocated up to the value of your purchase, rather than electronically, and that it’s ring-fenced from the storage company, gold dealer, and other investors.

If you do wish to take custody of your gold at home, ensure that you’re insurance company is aware of its value and that you’re covered for loss. We always use Royal Mail to deliver gold so it’s discrete for our customers. So if you want to buy gold bullion, ensure a large van doesn’t turn up to your house with Gold Bullion written on the side, otherwise, you can’t blame the thieves for targeting you!


Money may not grow on trees but pure gold can flow from taps

Pure Gold flowing from taps

We’ve all been taught in life to appreciate the value of money. After all we work hard for it and it doesn’t grow on trees. But what if you turned on your taps to discover that rather than just water coming out, it also flowed pure gold!

pure goldI’m forever cursing the hard water in London. Compared to many parts of the UK, the level of limescale in the water is terrible. Over time I see the build up in the kettle and wish we had the softer water of other regions. Further afield in Montana, USA, residents have also noticed flecks in their water.

When Sharon Brown of Whitehall, Montana pulled the plug out of washing the dirty dishes, she noticed a glistening residue remained amongst the soap suds.

‘She pulled the plug to let the water out and it was glistening, gleaming little flecks,’ Mrs Bown’s husband Mark told NBC.

They joked that it couldn’t be gold, but after sending the particles for chemical tests, the Montana couple were shocked to find that it had indeed been pouring pure gold from their taps.

The Brown’s aren’t the only ones in the town to notice the golden flecks.

pure gold

Their neighbour Paul Harper has also been getting gold fragments in his drinking water.

But rather than be excited about the find, these residents are concerned at the lack of purity in their water. ‘If we’re getting heavy metals that you can see with the naked eye,’ Brown said, ‘what else might be in there?’

So where is the gold coming from? Clearly gossip has spread that it must be linked to the Golden Sunlight gold mine situated a mere 5 miles from this sleepy town which opened in 1982.

However officials said the two are unrelated, and it’s more likely that the flakes have come from pumps or pipes linked to the Whitehall water supply. This sounds to me like an attempt to contain the growing excitement of the bizarre find.

Either way, I know that if I lived in that town, I wouldn’t be complaining about the lack of purity of the water supply! In fact, considering the prospects for gold in 2014, I’d probably be running the taps all day.

Insider's Guide to gold and silver