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 Replies: 24 / Views: 2,891 |
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Bedrock of the Community
 United States
12808 Posts |
I'm sure this has been addressed before, but in light of the state of the market and the U.S. debt rating and that more of us are sinking cash into PMs I thought it might be a good topic to revisit.
How do you protect your coins/PMs (and/or other high-dollar items (crown jewels, Honus Wagner card, etc.))? I know a lot of us are sitting on lots of silver and gold, and many of us probably have those pieces just sitting around in a closet. I'm thinking of ditching my filing cabinet for a smaller one and using the floor space for a fairly large safe. Any recommendations? I see you can pick up gun safes for under $1000 at sporting goods stores. I don't know how secure those really are. I also see safes in the $1500-$2500 range at locksmiths. They seem to be beefier but are they worth the extra coin (pun intended)?
So, looking for 1) what you currently do if anything and 2) recommendations on safes or other storage/protection methods. Clearly it's an investment that could be put towards more coins/silver/gold, so it's definitely a tradeoff.
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Valued Member
United States
460 Posts |
I have a gun safe which is rated for fire/water. I have it in my cellar bolted to concrete floor and wall.
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Valued Member
United States
397 Posts |
Most burglars are going to be of the smash-and-grab variety. Heavy safes aren't good enough - they must be embedded in or bolted to a concrete foundation. A big truck with a magnetic locksmith sign on the side and four guys carrying a big safe would not attract much attention. They can have it out of your house in less than 10 minutes. It must be secured.
If you are properly trained, nothing beats Smith & Wesson. Large dogs are also effective deterrents.
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Pillar of the Community
United States
1817 Posts |
Fireproof and burglar-proof safe embedded in the cellar when it was being regraded, check. Large barking dog, check. S&W, check. Start with Champion Safes website, and read about the fireproof rating. They have different models with different configurations for guns or collectibles. A local gun supply store can order one for you. If you are adverse to installing a safe in your home, you could always convert all of your silver into gold and rent a safe deposit box to store all of it.
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Bedrock of the Community
 United States
12808 Posts |
Thanks for the comments, gents.
1. Smith & Wesson is only good if you're home at the time of the attempted robbery. But certainly an effective deterrent then!
2. Big dog, good idea. Might solve my cat problem, too.
3. Safe deposit box...eh... I guess I'm not opposed to that for my investment stuff and higher-end collection pieces. I've just read posts from many paranoid people advising against that. Now I don't necessarily subscribe to that line of thinking but it does make you think. Also, there's something nice about playing Scrooge McDuck and being able to open up your safe/vault and look at/touch your collection.
4. My home is on a slab so I could bolt the safe down. I live in TX so no basement.
I guess it's a matter of protecting the investment and running the numbers. Does it make sense to spend $2k on a $10k collection/investment?
Another thing to consider - insurance. So if some burly crew of thieves picks up your safe and walks out of your house with it, how are you covered? I assume you'd need a rider on your home insurance or even special insurance for larger collections. Pictures, receipts, and records are a must, I would assume.
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Valued Member
United States
397 Posts |
It shouldn't cost $2,000. Make sure you know where your pipes are, rent a big hammer drill (or small jackhammer), buy a suitably sized small safe, drill out a hole in the floor of the garage, drop in the safe, mix up some quikcrete, sand, and water and seal it in.
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Pillar of the Community
United States
3540 Posts |
I use a Cannon 24 gun safe. If you want more fire protection, add another layer of cement board to the interior of the safe. These run 599 regular and 499 on sale. You can not beat the value for what you get.
If the safe is not UL rated, keep walking.
Don't BS yourself in believing a 1500 safe is better than a 600 safe...check the ratings yourself. Price definitely does NOT decide a good safe.
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Moderator
 United States
16677 Posts |
I have 95% of my collection in my banks SDB. I have had them in their for 6 years now...no problems. I keep some in the house in a place that I know nobody would even think to look. We have an apartment at the moment, but plan to buy a house soon, where I will invest in a very large gun safe bolted to the ground. The only thing that concerns me about the house safe is if a burgler surprises you first and puts a gun to your head, the collection is his. If I get the upper hand, well, me and my Government Model .45 ACP will say hello.
swcoin.ecrater.com
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Valued Member
United States
397 Posts |
How about a fake trashcan? ;)
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Moderator
United States
16677 Posts |
It's funny you mention that. I saw a large pot that you can put a houseplant in that actually has a false bottom for stashing valuables. It was pretty cool! Once we buy a house, I have a fake wall power outlet that is actually a small safe. You have to cut a small piece out of the wall. I will do that  swcoin.ecrater.com
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Pillar of the Community
United States
1213 Posts |
Yes, gun safe in conjunction w/ a bank SDB is my approach also. It's nice to have some at home to look at now & then, but the high value ones go to the bank. And a German Shepard (notice the icon) is also good to have on hand. If I could just keep her from trying to nab my silver. It was cute as a puppy, but it's becoming an annoyance.
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Valued Member
United States
315 Posts |
Thank you for posting this. I had some similar questions. We do have a monitored alarm system with some special features for some of scenarios that were presented above. I do not have a large dog, but I do have 8 chihuahuas that bite anyone they do not know. If I am home and something were to happen, the .357 or the Bushmaster M4 would make quick work of them.
I really just need more storage space. One of my former gun safes is over flowing with PM. I think am close to 1000 ozt of silver maybe more. Not to mention the numismatic value of some of my collections and slabs. Which, has displaced some of my guns(the less valuable ones) to gun cabinets and crowded the higher value guns into one cabinet. I think I am going to check out the price of large SDB for my most valuable items .
Also, I am looking hard at going to a Champion Safe Triumph Model T40 (38" x 66 ΒΌ" x 29") with the "Executive" Shelves insert. The The Champion Safes was recommended to me by a member of this forum and I have since been doing some research on them.
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Bedrock of the Community
United States
12808 Posts |
okiepb, your avatar, while exceedingly cute, does not (yet) strike fear into me. :)
So on the way home from work today I stopped at the bullion store and bought more stuff to keep in the safe that I'm contemplating.
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Bedrock of the Community
United States
20753 Posts |
A neighbor had a large safe bolted to the floor and wall. Also, had one of those advertised security systems. He went on vacation and a sort of moving truck pulled up in front of his house. Neighbors ask them what was happening. They told them the people that lived here like it so much where they were at they decided to move there. When the vacationers came home, they found their house emptied out including the safe. OH, the security system? The phone rang, the burglars answered and said it was OK, just a mistake ane then took that system too.
Remember about any type of safes. During a fire they get hot. Yes, might be FIRE proof but they do get hot. Anything you have inside that is plastic will melt. Those slides in Albums, slabbed coins, etc. will melt all over the coins. Most paper and cardboard products will darken and become brittle depending on just how hot the fire becomes. Many clad type of coins too could possibly warp. Other materials you may have in that safe too will either melt of emit gasses that too could effect coins.
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Valued Member
United States
315 Posts |
Allow me to expand a little bit more.
Don't be a "soft target" for thieves and keep the honest man honest. Locks keep the honest man honest. Layered protection slows thieves and makes you look like a hard target, so they move to a "soft target". Quality locks on quality doors, quality alarm systems and safes help to protect valuables. However, nothing is unbeatable. So I will add, that you should have a talk with your insurance agent and make sure your valuables are covered.
My security system has no phone. If the power is cut, it has its own power back up and the police come. If the phone line is cut, it doesn't use a phone line, and the police come. Also, it will call the fire department if a fire were to happen. Someone holds a gun to my head and tells me disarm it, well there is a fix for that also.
It has a numeric code, a voice password, and a lot of other features that I will not disclose on a public forum. When my alarm is triggered the police are en-route. The police have arrived at my house, before I have been able to finish the disarm/false trigger sequence. (Reminded me to tell the story of me in my boxer shorts and .357 mag VERSUS 2 police officers in my back yard sometime)
The alarm industry is highly competitive. There are some very sophisticated systems available and their are some systems that are worthless. Glass breaks, laser trips, motion detectors, etc, etc have become state of the art. Shop around and do your own due diligence.
I have other things in my home that are much more valuable to me than the shiny PM in my safes, my Wife, Son, and Daughter. I am sure many of you have very valuable items such as I speak of. I will protect those items, no matter the cost. I am sure most, if not all, feel about the same as I do in regards to protecting what is truly valuable.
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Bedrock of the Community
United States
20753 Posts |
Quote:
My security system has no phone. If the power is cut, it has its own power back up and the police come. If the phone line is cut, it doesn't use a phone line, and the police come. Also, it will call the fire department if a fire were to happen. Someone holds a gun to my head and tells me disarm it, well there is a fix for that also.
Sounds like a great system. I HAD a neighbor with a similar system. Note I said HAD. Criminals can and so panic and maybe by you the police can get there in seconds, but if not, might all be to late. In his case they just took to long. Remember too about a safe. When you get one delivered, many of your nosey neighbors see that and spread the news. Anyone visiting you and unless well concealed, also see that safe and spread the news. Your and other kids see them and also spread the news. Stories tend to get bigger and better all the time. Nothing may ever come of it all but you really never know. If you do have or get a safe, attempt to hide it from view. |
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Replies: 24 / Views: 2,891 |
Posted 08/08/2011 3:08 pm
