A Backyard Full of CASH???
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As we enter into what is expected to be one of the largest recessions in our nation’s history, individuals throughout the United States are faced with the question: “what should I do with my money”? During the Great Depression, many individuals hid cans of coins in their backyards due to their mistrust of the banking institutions. More and more individuals have lost confidence in our current banking system and have begun to question the safety of one of their most safely guarded possessions: money. But what is the best way to protect one’s cash?
Over the years, we’ve all heard of random places to hide money: under the bed, in the freezer, buried in the backyard, in the Bible but where is the best place to put it? My grandmother hid cash for years in the back of her closet between some old quilts that were never used. No one knew about this until after the passed. My husband’s grand-father hid his money throughout his home. He told his widow from his deathbed to throw nothing away in that house without fully going through it. Still to the day, she’ll be going through some old book or other item and stumble upon a $100 bill. Perhaps this was his way of always making sure she was taken care of, but more than likely; he felt it was safer than putting his money in a bank. A close family friend is said to have “millions” of dollars buried in his backyard under a fig tree and while I don’t know if it’s true or not, it does make for a good legend. I’ve often wondered if upon his death, anyone will visit his backyard with a shovel to look for buried treasure!
Of course, burying cash in the backyard is nothing new. During the Great Depression Era, it was common for folks to make “treasure maps” and place their valuables in the ground in coffee cans or old metal boxes. Today a “Ziploc” brand bag, placed in a piece of PVC pipe is a common way to bury cash five feet into the ground. In fact, there’s even an “invention” floating around on eBay called the “Midnight Gardner”. The device is actually a simple twelve by four inch capped, watertight PVC pipe which is said to hold as much as $4,000 in gold, silver, or cash.
Is it a good idea to bury cash? Some say it’s not as the paper money will lose value due to inflation. These individuals recommend investing in gold bullion and burying that as it will hold it value better than cash. There are those that say if the economy got to the point that money invested in banks was gone, that paper money would hold no value either. Others still insist that burying money/gold/etc is a bad idea because it can be easily forgotten or lost. Then, there are those that say that any attempt at “playing it safe” and pulling money out of the economy only worsens the effect of the recession.
In the end, I’m of the opinion that what to do with money is a personal decision and should be made by each individual with regards to what they feel is the safest route for them. As for me, I’ve got a personal stock of cash that I’m seeking a place to hide away for a “rainy day”.
Tags: backyard, bury, burying cash, Cash, currency, dollars, economic, Economy, gold, hidden money, Midnight Gardner, money, recession, stock, treasure maps, tree