Read a good article on this just a couple weeks ago. It was on one of the survival or bushcraft sites. I have no idea which site it was - I was just killing some time on a snowy day and exploring a bunch of different sites.
A couple of things I remember is they coated the valuables with grease, wrapped and sealed in plastic, put in some dessicant packs, and glued the caps on the PVC pipe. Author dug one up he had buried for several years and it was just fine.
Biggest problem for him was finding it - said he spent a couple days digging before he actually found it. Was only a few feet away when he started digging, but when he initially expanded his search he went in the wrong direction! He recommended you have several ways to relocate it.
Don't use your cell phone to mark it, don't leave it on a GPS (these could be confiscated). Besides who knows if GPS will still be in operation when it comes time to retrieve the valuables.
A way to make detection more difficult (for someone else) is to pick a spot where there is a lot of metal scattered around. Sites like a junkyard, old factory site, etc. Also "seeding" the site yourself with a bunch of metal scattered around (old rusty stuff that looks like it was dumped there a long time ago), an old saw blade laid roughly parallel to the valuables, but on or near the surface. Basically anyway to confuse or discourage someone with a metal detector from continuing to search the area.