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Valued Member
Canada
124 Posts |
I have a safety deposit box at a bank here in Canada for my most valuable coins. They only problem I have is the box is full and it's next to impossible to get a safety box here in any decent amount of time due to the demand on them. Some banks have a waiting list with people waiting over 2 years for a safety box to become available. I was lucky when I got mine because it was a new branch that opened up so I got my name on a reserve list.
Edited by tiker
11/23/2009 11:24 am
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New Member
43 Posts |
Im curious, how much does it cost to rent out a safety deposit box. thx in advance.
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Bedrock of the Community
United States
12437 Posts |
If you are an ANA member, Hugh Wood Inc has group-rate insurance available at multiple levels that is much cheaper and less onerous than using homeowner's insurance. Many homeowner's policies treat coins as face value cash if you do not have a hideously expensive rider or require you to photograph every insured coin and pay for a professional appraisal to set the value. Quote:
Im curious, how much does it cost to rent out a safety deposit box It all depends on the bank you use and the size of box you get but anywhere from less than $100/year to multi-hundreds of dollars per year. Edited by biokemist6
11/23/2009 1:00 pm
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Pillar of the Community
United States
3294 Posts |
I can get a box for $35/ year that will hold a few albums
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Pillar of the Community
United States
6326 Posts |
$25.00 bucks a year for smaller ones. And the biggest size "my" bank has is about $85.00 a year.The big ones hold A LOT of stuff ! The "cost" is weighed, of course, with the price of a good safe....."climate controlled issues"......"fire"....."flood"......"theft"....."home invasion".... and "convenience"......and the latter is the only issue for me. edit.....
I said "a month"......NO NO NO ! .... I meant " A YEAR" ! ..
Edited by eaglefoot
11/24/2009 08:24 am
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Valued Member
United States
245 Posts |
I have a lot of other things besides a coin collection. I agree, my insurance company doesn't need to know all of what I have, just proof of ownership.
Alarm system ,Video / Audio Surveillance, Dogs, Safe, Gated Community and last but not least Mr. Smith & Wesson. If they get buy all that, then they can have it. If we go on vacation, I have someone stay at the house.
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Valued Member
United States
113 Posts |
Springfield 1911. Rates are cheap.
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Valued Member
Canada
124 Posts |
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Valued Member
United States
124 Posts |
 I suppose safe deposit box rates vary from place to place. I suspect most of you live in metropolitan areas. I live in a very rural area. My credit union charges me $10 a year for a small safe deposit box. I keep a few individual coins and coin tubes in it, but my albums are here at my house. For security, I have four dogs and a large collection of firearms. |
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Pillar of the Community
United States
1801 Posts |
My coins are all insured by Smith and Wesson. Actually I keep all the valuable coins in safe deposit boxes at a local bank. Since I also work at the bank it works out really nice for me. I rarely have more than a 1/2 dozen coins at home at a time. I went through most of my better coins and created a digital record of all of them about a year ago so I can always view them when I need a quick reference.
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Bedrock of the Community
United States
10982 Posts |
I have a rider on my insurance policy for $3,000 in coins in my home. What's in the SDB is not insured per se.
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Pillar of the Community
United States
2541 Posts |
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Bedrock of the Community
United States
17884 Posts |
Quote:
I give a list and estimated value of my collection to my home insurance people. If you don't have a special rider on you home owners insurance even if you gave them a list you'll find you are still only covered to about $200. Quote:
I have a rider on my insurance policy for $3,000 in coins in my home. And what does that cost you per year? Those riders tend to be quite expensive. Coverage from Hugh Wood for that amount would run somewhere around $15 per year. |
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Pillar of the Community
United States
1454 Posts |
I'm getting a very heavy safe for X-Mas and that's where my modest collect will go. Between the safe and the relatively crime-free neighborhood, I don't lose a lot of sleep worrying about the coins.
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Pillar of the Community
United States
1454 Posts |
Forgot to add, it never hurts to get an indoor dog or two, the larger the better. It's probably one of the best theft deterrents one can have, IMHO.
Jen
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Posted 11/23/2009 12:08 pm
