Where to Look for Hidden Treasures in an Old House Before You Knock It Down

Recycle Precious MetalsRecycling and RefiningPrecious Metals Investing
Written By Barry Lenson

“I am about to build a new mixed-use building in a suburb of a major city,” a real estate developer asked us recently. “But before I build, I have to knock down an older wooden Victorian house on the site. Should I knock the house down and then sift through the rubble looking for hidden treasure and valuables, or would it be better to look through the house while it is still standing? Which approach makes it easier to find any treasures that previous owners might have hidden or left behind?”

Look Before Demolition

Simple answer. Search through the building before you knock it down. There are lots of reasons. One is that if you knock the building down, you are going to end up with a foundation filled with debris. How are you ever going to sort through it all? Another reason is that if you knock it down, you will lose easy access to the basement floor and walls, where previous occupants might have hidden coins, gold scrap, and other valuables.

Another reason to look before demolition is that in most cases, you are going to hire one demolition company to knock the building down and then haul all the debris away. Are you going to trust that company to look through all that debris one handful at a time, looking for precious metal items that they will then return to you? No, you are not! You are only going to let that company haul debris away and you’ll be relieved when the job is done.

The result will be that you will lose any valuable items that might be hiding in your old building. So you owe it to yourself to search the building carefully before inviting the wreckers in.

Where to Look for Hidden Valuables in Old Houses Before You Knock Them Down

  • Behind false panels in the back of closets – Tap with your knuckles to find panels that cover empty spaces

  • Under floorboards and steps  - Look for crowbar scars and other signs that they might have been pried loose and replaced in the past

  • Under cement basement floors - Look for raised areas that might cover holes where valuables were hidden

  • Behind bricks or cinderblocks that have been removed and replaced in basements, fireplaces, and other areas  – A visual inspection can help you find bricks and blocks that have been removed, replaced, and possibly repainted

  • Above fireplaces in flues – This is another popular place for hiding valuables

  • In heat and cooling ducts – Unscrew grates or covers and reach in or insert your cellphone’s camera to look around

  • Buried in the yard – Items that were buried can be difficult to find, but try a visual inspection and possibly a metal detector too

  • Dropped down wells – It’s no fun to try to locate and recover valuable items that were dropped into wells or placed behind loose stones or bricks halfway down, but lowering a camera into wells can sometimes give you a clue to whether previous owners hid items in these locations

  • Under slates and stones in pathways and patios outdoors – These are very popular locations because the previous owner could simply lift them, place valuables there, and lower them again into place

  • In hollowed-out banisters – Pull off the knoblike decorative piece on top and check to see whether valuables have been hidden underneath

  • In toilet tanks – Yes, we are speaking low-tech here, but it is not uncommon to find gold and other valuables dropped into toilet tanks

  • In safes, both concealed and otherwise – A lot of older buildings contain old safes that might be difficult to open, but call a locksmith and find a way to get inside and assess the contents

Why Is It Possible to Find Valuables in Places Like These?

“Why would anybody leave gold, silver and other valuables behind in buildings they no longer occupy?” is a logical question to ask. But there are answers. Sometimes people die or become ill and leave hidden valuables behind. Sometimes people get into legal trouble and need to vacate quickly. Sometimes the people who hid the valuables were criminals who had stolen property to hide.

There are many possible explanations. You don’t need to consider all of them. Just remember to inspect old buildings you own.

And when you find gold, silver, or platinum scrap – not to mention hidden gold coins – give us a call at 800-426-2344. We’ll be excited to hear about your discoveries, and doubly excited to help you get top dollar by recycling what you have found.

Barry Lenson
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