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 Replies: 21 / Views: 2,153 |
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New Member
United States
13 Posts |
I have been collecting coins for about ten years. I work in banking and a majority of my collection is coins that I found over the years at face value. I also have some commemoratives, proof sets, and silver bullion coins. My collection is worth somewhere between $600 and $800. It is a modest collection but has given much enjoyment in collecting and now I am wondering about where to keep my collection? I had a majority of the collection in a safe deposit box at the bank but have brought it home. I get more enjoyment having it around the house were I can get to it at any time. I am thinking of buying a small fire proof safe and bolting it inside a closet to the floor, or do I keep them in safe deposit box at the bank? I live in the metro Detroit suburbs and have an alarm on the house and have never had any problems. Where do you guys keep your collection to keep it safe? Thanks
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Pillar of the Community
United States
662 Posts |
Others know more about such security questions than do I. However, I can suggest, if you have not already done so, purchasing a rider on your homeowner's insurance policy to cover the value of your coin collection. I learned the hard way how important such insurance can be...  I lived in a very low crime area in the country, but what I failed to consider was the desperation/low morals of people I knew and assumed were trustworthy. There was not enough evidence to prove who stole my coins, although I am 99% sure I know who it was. Anyway, if I had had insurance, it would have still been a violation of my personal space and trust, but at least I wouldn't be out $4000 worth of coins. I now keep my valuable coins in a bank safe deposit box. ~ Mark |
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Pillar of the Community
7234 Posts |
Downstairs in a 1200 pound safe that is bolted into the concrete slab. I'm sure it can still be stolen by a few desperate scumballs but luckily I have nosy neighbors who like to call the police on people that don't belong in the neighborhood. Yes, I enjoy being able to have access to my collection any time I want without having to travel to a bank.
AND: Don't go telling anybody you know that you collect coins. Just another layer of security as people have big mouths.
Edited by Mark1959
02/04/2017 2:55 pm
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Bedrock of the Community
United States
37658 Posts |
 to CCF fellow Michigander. You have a good idea about a small safe bolted down at your home. I do recommend a larger size one because it will fill fast with other important things besides coins. Also get one that is fire and water resistant. A good desiccant will be needed as well. John1 
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
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Pillar of the Community
United States
3210 Posts |
I also keep my entire collection in my safe downstairs in a hidden location where it is very difficult to move the safe around. I also have several other layers of security. Firstly when I do business with people, I never do it at my home. Secondly I have a very good alarm system; third, I have an excellent guard dog, and lastly if steps 1-3 fail my dad has a loaded 9 mm glock on standby, on top of a secondary gun if per chance I am alone which I have access to at all times. Needless to say I feel my collection is very safe and it is always nice to have access to it immediately.
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Bedrock of the Community
United States
14846 Posts |
Yeah, I take certain security measures with my collection, but will leave out the details . I like the idea about the home owners Insurance but I'm assuming I would need to have receipts for every coin I ever bought ,and that would be impossible .
Proud Member of The Black Sheep Squadron !
In Memory of Fallen Black Sheep Mates .
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Bedrock of the Community
United States
20079 Posts |
Kind of depends on where you live. For example in an apartment or condo, you might be limited to what you can put in it and/or where. By that I mean if in an apartment, not likely you could drill holes, nail or screw a safe to the floors or walls. Even in a condo, you might be limited to where you can put anything. Again, bolting, messing with or nailing something to a floor or wall may not be allowed. l Now for a house it is all different. By that I mean you could mount a safe to anything since you own it. The thing to remember if you have a safe delivered and you have nosey neighbors, the word may spread you have a fortune in your house worth a robbery. I've known people with safes that looked way to large to get out and where bolted to the floor. It was removed by robbers though. My method is to find a place to make a sort of fake wall. Behind it is shelves for my coins and stuff. No one could know it's there so I never worry about things being robbed.
just carl
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Pillar of the Community
United States
6950 Posts |
What I get out of a safe deposit is pretty safe at home until I put it back. My house is 24/7 inhabited, two large guard dogs (one is part Great Pyrenees - very large) call this home, and plenty of quickly accessible rifles/pistols/shotguns.
I consider it just as important to not parade things in front of everyone who enters the house. While growing up, the kids were instructed to never mention my hobby.
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Bedrock of the Community
United States
11935 Posts |
A lot of good ideas being posted.
I pretty much do all posted above. I do have a safe deposit box at my main bank.
I do miss seeing them sometimes, but I visit them often. I tell the tellers I like to visit my marble collection.
I am planning to move back to Michigan in the near future, I plan to purchase
a home that I can build a good secure/safe room.
As mentioned above ...do not tell family, friends or neighbors what you keep
in your home.
We have security system ... can access camera from phone/iPad.
Also motion sensors that send a message to our mobile devices.
Not just for coins ... I like to keep everything in my house secure.
One of my dogs is so mean most neighbors and family will not visit.
Both my wife and I are licensed for concealed carry.
If something new comes along .... I will do that too
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Pillar of the Community
United States
1795 Posts |
Safes are great and the bigger the better but the best thing to do is keep ones mouth shut and keep your collection to one's self. The more people know about your business the more potential problems you will have. As they say Never let your right hand know what your left is doing.
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Rest in Peace
United States
7075 Posts |
Quote:
I am thinking of buying a small fire proof safe and bolting it inside a closet to the floor, If you decide to do that, get a large plain cardboard box to cover it. On the outside of the box write "Christmas Decorations" or something that would be equally uninteresting.
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Pillar of the Community
7234 Posts |
Quote:
On the outside of the box write "Christmas Decorations" No - they'd steal that too. I'de say write "Job Applications" on it!!
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Pillar of the Community
United States
662 Posts |
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New Member
United States
11 Posts |
Quote:
]ibertyEagle20 Posted - Today :42 Min ago
Just curious for those who store stuff in a basement, aren't you worried about verdigris on your coins? It adds contrast to the coins from other coins.
Edited by DataLore
02/04/2017 9:38 pm
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Pillar of the Community
United States
1963 Posts |
My coin collection is so small that it isn't worth buying a safe for it.
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Valued Member
United States
123 Posts |
I currently keep them in a box but eventually I want to upgrade to a big safe!
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Replies: 21 / Views: 2,153 |
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Posted 02/04/2017 2:54 pm
