Safe Deposit Box Or Home Safe?

This has been an interesting thread for me. I was going to ask a similar question but searched for a topic on it first. I don't have that many coins at all. Just two worth a total of about $500 (I just started with these two coins). My house is too small to hide a safe anywhere. So I would think I have to use a safe deposit box eventually. Right now I have them in a drawer in my house, but I've been wondering what to do as I amass more. Is there a point (dollar-wise) where you seriously look at locking up the coins? For now, I just keep them in a coin album in drawer in an old end table. There are much more valuable (and easier to find) things in my house that thieves would most like go for for me to worry too much about the coins now. What about insurance. I saw someone mention that. When do you start looking into insurance for coins (vs maybe just adding a rider to a homeowner's policy)?

Personally I like a home safe. I currently keep all my coins in a secluded safe that is fireproof, waterproof and is so heavy one person cannot move it. I also have other ways of deterring would be robbers. Alarm system, a good guard dog, a few guns as my dad has a full conceal and carry license in NY ( and I know where the extra 9mm is in case of emergency) If somehow someone manages to best the 3 countermeasures, the small safe I have is in a tight space and is well over 400 pounds. Good luck to any robber.

It might be more advantageous to not put all of your eggs in one basket, so to speak. If you scatter coins/valuables in a haphazard and hidden manner throughout your domicile, you lower the risk of losing it all at once (barring a house fire) and don't need to pay the SDB rental either.

And for all of you thinking safety deposit boxes are 100% safe, I present you the following article. Anyone determined enough can get into a safety deposit box room, i.e. These people did it by going through the roof.

http://www.nytimes.com/2016/05/24/n...of.html?_r=0

My safe is a digital safe, but it comes with 2 skeleton keys that are behind the digital lock, in case the batteries die or something damages the keypad. My parents have the exact same safe as me (I got mine earlier this spring while they have had theirs for a few years).

I just prefer safes, cause I know where it is, I have easy access to it, and I know no one will break into it (If per chance they broke into the house the alarm would have the cops to my house in 3 minutes).

I think that a SDB is much safer. True, in "Goldfinger" the bad guys did break into Fort Knox so there are no guarantees.

Try mentioning this to your bank. I did and found out that the roof is 3 feet of concrete.

All that's true. Empirically a safe deposit box is safer. But like a lot of collectors, I like to be able to pull out my coins and look at them now and then, and it's also a PITA to have to drive to the bank, wait around for a banker to let me in, stand in a cube and look under bad lighting, and then stow them again. It's hard to ENJOY your collection like that.

Maybe one day I'll have lots and lots of coins, and I won't mind the most valuable of them being difficult to get to. I'm not there yet. And I already pay for a large safe deposit box for important papers for my mom. I would need another large one for my own papers that I wouldn't want to lose in a fire or burglary, and another for the coins. At $85-100 a year per box, it seems cheaper over a few years to just get a safe large enough to hold it all. I also have an alarm system, and between that, security doors, and a 400lb plus contents safe that would be hard to get into or get out the door with before the cops came, I feel pretty comfortable with the safe. And a few judiciously placed weapons of choice in case I happen to be home when someone tries it.

JMO