A security storage container securely retains an item of merchandise and typically includes a base and lid. An alarm system in the container is activated when the container is locked and deactivated when the container is unlocked. The alarm system may include a flashing LED, an EAS tag for activating a security gate, and a sound-emitting device which may emit a loud alarm upon an attempt to pry the lid from the base or upon the container entering into proximity of a security gate.