Any Issues With Storing In Safety Deposit Box

The palm id SOUNDS great but what if you had your hand amputated? Just joking,we can carry all these scenarios to extremes but probably not logical conclusions. I will not use a SDB simply because the government(whom I don't trust in the least) could freeze all assets at a moments notice and confiscate your goods. Will that ever happen? Probably not but go back to 1933 and think of gold or silver confiscation! I will keep mine where I can get to it!

The bio-metric security options are pretty cool. However, it might be worth asking about any alternative access methods. For example, what happens during a protracted loss of power or Internet connectivity?

To be fair, if the power's off, it's doubtful that anyone is getting access to the bank premises, let alone their safe deposit box, regardless of the security method. I do think it's a good question to ask next time you see your banker.

Sorry for back tracking here, but regarding using mint tubes for long term storage? Several of my PM dealers place a single packing peanut in the tube to minimize coin movement during shipping. I'm generally okay with this practice since shipping can be rather hard on coins if precautions aren't taken.

However, when I'm getting a full mint tube ready for storage in my SDB, I always pull the peanut out. Why? There's no way to be certain that the peanut is "PVC free" and thus a source of potential damage. Since the tube shouldn't move at all in the SDB, having the void at the top of the tube presents minimal risk. I have, however, considered making a round plug out of a small stack of old PVC-free coin flips that I've retired due to wear. I'm still experimenting, though.

No, both keys are needed to lock and unlock the box but I replace the SDB back in the wall that holds them and then we lock it up together. They warn their customers multiple times that if we lose our key, they will have to have the lock drilled out and replaced, so there is a $100 fee for losing the keys. This is incentive for NOT losing both keys!



Good point, although it is unlikely that a foamed plastic product like that has any PVC in it, PVC being a very hard and brittle plastic. Most packing peanuts are made of foamed polystyrene. Newer formula peanuts are made of starch and are bio-degradable. Either one should be PVC and chlorine free.

An alternative to adding a peanut would be to get one of those anti-tarnish silver cloths, tear it into 1.5-2" squares, fold up a square, and put it at the top of a coin tube. That should provide both chemical and physical protection to the coins inside the tube.

Chemical Engineer? Ack! Pfft!! That would be CHEMIST!

My guess would be that most bank vaults are still mechanical but I suppose that it is possible that the lock could be powered in some way. If so, it likely has a long-life rechargeable battery as a back-up for just this situation.

This does raise a good point about banks opening in a no-power situation, though. I will have to ask my local CU what their ability to open and their policy is on it next time I stop in there.

@starbux - Backup power and cellular service for monitoring is pretty common for security systems these days.