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Methods, systems, and devices for preventing the loss of valuable items using beacon notifications are described. A loss prevention tag is a small, discreet electronic tag which can be attached to belongings in order to prevent them from being lost. The tag may communicate with a computer or mobile device (e.g., a smartphone or a smartwatch) and may transmit a notification when the object it is attached to moves beyond a threshold distance from the device it is communicating with. A loss prevention tag system may utilize a system of smart notifications. One function of the smart notification system is to remove false alarm notifications. Another function of the smart notification system may be to modify the mode or format of the notification.