What I expected to happen was...:
Everything would be fine

What actually happened was...:
After playing for a little while, i left my house far enough that it de-rendered. When i came back, i was going to move my chest and i got it back leaving a ghost chest in it's place.

Steps to Reproduce:
1. Place chest (single or double. Both work for this)
2. Walk far enough that your chests are no longer rendered. (I had left to the mountain off in the distance)
3. Come back and break the chest. It looks like it's still there but you have already picked it up.

Note: If it has times, they will have exploded out along with the chest as expected. No item loss!!

IN the picture with F3 enabled, half of those chests are ghosts.