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 latest gold market analysis – click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Illinois Credit Rating on Its Way to Junk Status

Illinois’ credit rating is on its way to “junk” status. According to an AP report, S&P Global Ratings recently warned it will likely lower Illinois’ creditworthiness to below investment grade if feuding lawmakers fail to agree on a state budget for a third straight year. Related

READ MORE →

New Process Using Gold Could Help Develop Artificial Muscles

There is healing power in gold. Not only does the yellow metal  serve as an investment as well as money, it is increasingly being used in technological applications, particularly in the healthcare field. A recent advance reported by Science Daily could significantly improve medical implants. Researchers from the University of Basel have modified short-chain silicones in […]

READ MORE →

British Buy Gold in Wake of Election Uncertainty

What did Brits do before the recent elections in the UK? They bought gold. According to the Financial Times, gold sales soared 87% as uncertainty kicked in on election day earlier this month. As prospects of a hung Parliament loomed, “panic-stricken” investors converted their  sterling into gold. Related

READ MORE →

Texas Picks Company to Run State Bullion Depository

The Texas bullion depository took a major step closer to reality last week when officials formally announced the private vendor that will run the facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately undermine […]

READ MORE →

Even the Mainstream Sees the Disconnect Between Fed Rhetoric and Actual Data

The Fed is hawkish about jacking up interest rates, but even the mainstream is catching on to the disconnect between Fed rhetoric and actual data. The recent Federal Reserve rate increase and talk of more boosts in the future has sparked a rally for the dollar. This has caused the price of gold to sag. […]

READ MORE →

Comments are closed.

close

Enjoy this blog? Please spread the word :)

Free Newsletter & Notification of Special Deals
RSS Feed
YouTube Channel
YouTube Channel
Google+
Google+
https://schiffgold.com/key-gold-news/cross-piano-off-list-best-places-store-gold