A successful investor in northern Nova Scotia has made an intriguing move with his wealth: a collection of gold coins, amassed over decades, is reportedly buried on his property. The investor has provided his family with instructions on how to locate the stash, should anything happen to him.
For Dave, owner of Atlantic Gold and Silver, this isn’t an isolated case. He has clients who store their gold in unusual locations, including under compost piles, behind drywall, and even in sock drawers. Dave, who requested his last name be withheld for privacy, does not discourage such methods, although he acknowledges the potential risks. He points out that banks, for instance, can occasionally mix up safe deposit boxes, leading to misplaced assets. “I know somebody who went to open a box at a bank, and they gave him the wrong one. It had someone else’s gold in it,” he explained. “And safe deposit boxes are not insured, so if something like that happens, you’re out of luck.”
Dave’s advice for those storing gold at home is simple: “If you’re hiding it in your sock drawer, make sure someone knows where it is.”
The growing popularity of gold as an investment has coincided with a significant increase in its price. Over the past year, gold prices in Canada have surged by nearly 48 percent, leading to a recent gold coin shortage at a local Costco.
While some investors opt for gold stocks or contracts, Dave cautions that these are often not fully backed by the physical metal. “Gold stocks are similar to fractional reserve banking—where a bank might not have enough cash on hand if everyone tried to withdraw their money at once,” he explained. “The same applies to many gold stocks. If there’s a run on gold and everyone wants to take possession, it may not be available. That’s why it’s safer to own physical gold you can access directly.”
In Canada, one of the most common ways to own physical gold is through one-ounce “maple leaf” coins, primarily due to their high purity. “The Royal Canadian Mint’s maple leaf coin is well-regarded both in Canada and globally,” Dave said. “They were one of the first to produce gold at 99.99% purity, which is known as four-nines gold. Prior to that, most gold was 99.9% pure. It may seem like a small difference, but it’s significant for investors, and the Royal Canadian Mint’s reputation for producing high-quality gold is why these coins are so popular.”
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