Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Cross ‘Piano’ Off Your List of Best Places to Store Gold

  by    0   0

File this story under the category of “worst places to store your gold.” Last year, a piano tuner in Shropshire, England, found 13 pounds of gold stashed inside a piano. This week, officials gave up trying to find the original owner.

Bishops Castle Community College sent the piano over to Martin Backhouse for maintenance and tuning last year. When he opened it up, he spotted some odd pouches stacked neatly under the keyboard. When he slit open the stitching on one of the pouches, he found gold coins. All told, there were 913 gold sovereigns and half-sovereigns minted in the 19th and early 20th centuries stuffed inside the piano.

Blackhouse’s recollection of the moment he found the gold seems rather understated. He told the AP he saw the coins and thought, “Ooh, it looks like there’s rather a lot of gold in this.”

The coins have not been formally valued. Peter Reavill of the British Museum told the AP the trove is worth a “potentially life-changing” amount.

So, who put the coins inside the piano?

Nobody knows.

Graham and Meg Hemmings owned the piano for 33 years before donating it to the college. They had no idea they were sitting on a fortune. Efforts to locate the gold’s owner proved fruitless. Coroner John Ellery investigated the coins, searched for the owner, and has now declared it treasure. On Thursday he told the AP that despite a thorough investigation and a public appeal for information, “we simply do not know” who concealed the coins.

Under British law, the finder and owner of “treasure” get to split the proceeds, so the school and Blackhouse will enjoy the windfall.

Storing precious metals is always a tricky business. Needless to say, inside a piano probably isn’t the best spot. It’s slightly better than burying gold in your back yard, but not much. If you want to keep you precious metals at home, we recommend a high-quality safe. But for added security, and for large amounts of gold and silver, off-site vault storage may provide better protection for your investment. SchiffGold has relationships with the world’s finest professional storage services. These secure vault facilities are strategically located around the world and have excellent reputations.

 

scam-2-sm

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Nearly Half of Small Business Owners Expect to Close Down Permanently

The economy was booming. The stock market was setting records. Then coronavirus came along and governments shut things down to minimize the pandemic. That led to massive layoffs and a nasty recession. But once states open up, things will spring back to life and the economy will go back to being great again. That’s the […]

READ MORE →

Over-Leveraged Zombie Companies Threaten Economic Recovery

There seems to be mounting optimism that the US economy will rebound relatively quickly as states begin opening up and there is progress toward a coronavirus vaccine. But the optimism ignores deep problems in the US economy that existed before the pandemic  – chief among them staggering levels of debt and the proliferation of zombie […]

READ MORE →

Silver Joins Gold at the Party

Silver has finally joined gold at the party. In the last week, the price of the white metal has moved up from $15.51 to $17.35. (as I type this on Tuesday morning May 19) That’s an 11.9% increase. With the jump in the price of silver, the silver-gold ratio has dropped from over 113-1 earlier […]

READ MORE →

QE Infinity: Money Supply Grew at Record Rate in April

The money supply growth rate surged to an all-time high in April as the Federal Reserve created cash at an unprecedented rate through quantitative easing and other money-creating monetary policies. According to Ryan McMaken at the Mises Institute, the only time the Fed has come close to this level of money creation was in the […]

READ MORE →

Staggering April Budget Deficit Just the Tip of the Iceberg

The April federal budget deficit came in at a staggering $738 billion as government coronavirus stimulus began flowing through the pipelines and revenue dipped due to the government lockdowns.

READ MORE →

Comments are closed.

Call Now