Hiding valuables may give you a sense of greater security over your stuff, but it certainly isn’t without risk. Take the recent case of an elderly Israeli woman who had stuffed her life savings of over $1 million in her mattress, only to have her daughter unknowingly throw out the mattress because it was lumpy. $1 million was literally thrown out to the trash.

This article on MSN illustrates some of the dangers of hiding valuables pretty well. Among the tales in the article were clothes given aways with cash lining the pockets, donated books randomly stuffed with $20 bills, and $20,000 hidden under a sink that was so moldy the Treasury Department had to examine it to figure out what was left.

According to the article, the practice is more common than you might think. They quoted an estate auctioneer in Virginia as estimating that one in ten estates they handle involve “stuffers”. In many cases, surviving family members will have no idea there are valuables stashed amongst seemingly insignificant items.

So what are some lessons to be learned from this? Perhaps the following would be a good start:

• A well-placed and secure safe is the best place to hide valuables on your property. Safe deposit boxes at banks are also relatively inexpensive and offer even stronger security.
• Don’t hide stuff in items that someone may think should be replaced or donated. A well-intentioned friend or loved one may cost you nearly.
• Tell someone where you’ve hidden stuff should you be unable to remember, whether it be due to mental decline or death. Consider writing down your hiding places and leaving the list along with your will in the care of a trusted family member or friend.
• Make sure you hiding spot is reasonably well protected from the elements, excess moisture, and fire.

So do any of you stash your cash, or have you ever found something someone else stashed?