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 Replies: 41 / Views: 4,707 |
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Valued Member
United States
315 Posts |
I decided today to put all my silver coins in my tiny box (3x8? A 2013 West Point set barely fit with maybe 1/4 inch to go, about 4 inches on the side left.)
But, as I was deciding, I was thinking, why not my roman coins? Pound for pound, they are worth more than silver. Why not my 64 Kennedy's? I like them the most of all my coins, and would be most upset if they were stolen. My 2007 proof set is probably the most valuable of all my proof sets, simply because it is 14 coin, not 5-11 like the rest.
I stuck my 1960 proof set in there, even though I miss it terribly and would like to look at it on a daily basis.
What criteria do you use?
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Moderator
 United States
23522 Posts |
I use the criteria, "I don't own a safe deposit box and wouldn't trust one if I did." Of course, that's partly because I can't afford one.  What I_do_have, though, is a rather special place arranged inside my own dwelling which can't be discerned unless you were to rip the whole building down to ground level and go over it with a fine tooth comb. It's covered by 6" of concrete, pretty much impervious to any fire or natural disaster save possibly a flood and the places I could get a SDB are below my elevation. For more short-term stuff, I'm quite a fan of "hiding it in plain sight." So to speak. |
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Pillar of the Community
United States
1511 Posts |
Easy... None.... First off I live a good hour plus from any bank with boxes... But even if there was one next door I still wouldn't... I trust banks about as far as I can spit.. I use them as little as absolutely possible. I've had a few bad experiences with money going missing from accounts unexplainably, deposits that never went through (even though they took my money), rediculious fees for literally no good reason that even though they were at fault they refused to waive (this happened to my wife on our joint account) as well as other things that didn't settle well with me. Heck, two of my friends work as loan officers in a local bank and they refuse to keep there money in a bank.... Hmm. Not to mention I'm a die hard prepper (I make most of the people on "doomsday preppers" look like girlscouts  )... I like to have everything I'll need right where I can access it easily, including money/PM's/my coins. But more importantly than easily- whenever I want. I don't want to be able to get my things only during bank buisness hours.. I want my stuff available to grab any minute of any day, weekend or holiday. I can't help but to think (no matter how rare or unlikely) what happens if the bank shuts down temporally? Natural disaster? War? Zombies? Lol, just playing. I mean however unlikely it's happened before.. Argentina is a great example.. Bottom line for me is I want to be able to access my things any time I want... And a safe deposit box doesn't allow that.. So it's not an option for me. I feel much safer knowing there in one of two (hidden) safes, (not movable without driving through my house with a bulldozer) in my secure house with alarm system/cameras & knowing that they have to get through my dog and a hail of bullets.. As far as I'm concerned things are just as safe here as in a bank..  *edit* SsuperDdave... Yet again we were typing at the same time. Huh, sounds like our safes are similar... Short of a bulldozer my safes wouldn't even be found let alone cracked/taken... I trust my house more than a bank. Edited by NathanASE
11/10/2013 12:14 am
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Moderator
United States
23522 Posts |
You gotta quit this, Nathan. Or maybe I do. An infant could crack my "safes." If they stumbled across one. Which they wouldn't. Dirty little secret: most banks do not guarantee the safety of the contents of a safe deposit box, nor do they insure them (obviously, since by definition they don't know the value of what's contained therein). Doesn't mean I wouldn't make use of one, if I had the money. In the real world, a safe deposit box is about as insulated from physical disaster as anything could be. But there are other types of disasters, and those are the ones which give me the heebie-jeebies. For five years of safe deposit box fees, I could probably build something pretty much impregnable under ground in my own yard, appropriately masked, and I'd feel a lot better about it. |
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Pillar of the Community
Canada
726 Posts |
I hav to admit None .............no box......if yu hide yu coins make sure to tell someone so that when yu die............they can be found by who yu want to...Or give them safety box privilages.......
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Bedrock of the Community
13014 Posts |
Quote:
For five years of safe deposit box fees, I could probably build something pretty much impregnable under ground in my own yard, appropriately masked, and I'd feel a lot better about it. Thats the thing I dont think a lot of people consider. Yes safes are expensive but in the long run its far cheaper to buy a top line safe than have a sdb for decades. Of course if you live in a small apartment or rent they may not be the most practical but if possible a one time fee seems like a better long term investment than paying monthly fees for life. |
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Pillar of the Community
Canada
2124 Posts |
I put in my sdb the most valuable coins (most of them gold coins) and coins that I know I'm not gonna look at often.
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Pillar of the Community
United Kingdom
548 Posts |
My coins aren't valuable enough to justify the cost of a box.
If, however, I had loads of gold that needed to be kept safe I would rather spend the money on a proper safe at home than trust a bank to keep it safe.
Edited by Demarco Bishopp
11/10/2013 06:02 am
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Pillar of the Community
United Kingdom
4208 Posts |
There was a sotry not long ago of someone buying a safety deposit box which already had an owner. They were left alone in a room with that persons most valuable possessions and no legal obligation to leave them be. Banks are full of humans and the only one of those I'm willing to trust is me.
I hide my stuff in plain sight. Valuable stuff (upwards of £50s) isn't common in my collection but they're got...preferential treatment. You'd have to use sonar to find the hiding spot.
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Pillar of the Community
Canada
2124 Posts |
BenByfield: You can rent a safe deposit box, not buy one. And there are 2 keys to open it (one keys remain with the customer and the other with the Bank) so it's very strange that story.
Set apart ... if you don't trust or don't want a safe deposit box is ok, everyone choose according to his situation.
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Bedrock of the Community
United States
20753 Posts |
I live in an area where there are banks of all sorts all over the place. They compete for buisness with all kinds of stuff. Most have stopped giving stuff away. Some do your taxes so you can save on mail. Some have specials on safe deposit boxes. So I have several. I like them for several reasons.
1. All banks I know of are A/C'd so the air does not contain moisture. One thing that hurts coins.
2. Great place for a will, just in case. Also, a place for instructions as to what to do with your stuff, just in case.
3. Most safe deposit boxes are in a separate room in the bank that is rather fire proof.
4. Much safer than a so called safe in your home. Those are only as good as what you would do if a crook held a gun to a family members head and said open the safe.
5. Much easier when and if you move not to have a massive safe to try to take with. No matter where you move, if that safe deposit box is close, no problem when moving.
6. Renting one is not cheap but still cheaper than loosing all during a robbery.
Yet there is the problem of accessability. BAnks will not let you in at night or one Sunday just to see your coins.
I keep any coins in them I feel are worth the cost of the box.
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Pillar of the Community
United States
919 Posts |
 By the time you add the expensive items to your homeowners insurance the cost is not really that much. For my policy anything over $250 must me documented and over $500 must be appraised. I have heard a lot of stories of kids getting into collections and spending the money (mint sets for sure). Hard for that to happen if the coins are in a SDB. |
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Bedrock of the Community
United States
19931 Posts |
My box is packed tightly, well protected with multiple layers with all of my most valuable coins. The ONLY thing I worry about is a natural disaster or a fire. I like the piece of mind of having my best stuff stored away safely.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
Canada
2805 Posts |
I... um... uh...
The most valuable coin in my collection is worth maybe $30... so I'd just say "good luck finding it mixed in with all my other junk"...
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Moderator
United States
16677 Posts |
I have the biggest SDB they have (for eight years now) with no problems yet.
Like Ssuper, I also have a place in my house you would never find for coins I sell.
I am going to buy a large safe and have it professionally installed in a non-obvious place soon.
The ADT security system and my .45 auto are added benifits.
swcoin.ecrater.com
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Pillar of the Community
United States
2368 Posts |
I don't do safety deposit boxes. Like nalaberong, I really don't have anything that valuable. I keep my roll hunting Wheat cent collection in 2x2s in a special box just for 2x2s. I doubt anyone would steal them (worth no more than $10, although it is my pride and joy). In case of a natural disaster like fire or hurricane, I keep the box on my nightstand where I can quickly grab it and quickly escape. Superhal has a point. All silver coins, junk or otherwise, should be locked up or at least somewhere safe. |
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Replies: 41 / Views: 4,707 |
Posted 11/10/2013 12:07 am
