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 Replies: 27 / Views: 2,962 |
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Pillar of the Community
United States
759 Posts |
Hi,
There was a time when the potential theft of my collection would have been emotionally devastating, but it wouldn't have been that great of a financial loss with standard insurance policies covering maybe $500. With silver and gold prices where they are, that's no longer the case. So for people with higher than insurance coverage limit collections, where do you keep your coins? Do you have an insurance rider and how much are those? Keep them in a safe deposit box (which I hate, since, well, I don't live at the bank)? Keep them at home protected as best you can? I'm just curious how everyone else handles the risk of theft/damage v. ability to enjoy your collection dilemma. Thanks!
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Pillar of the Community
United States
5829 Posts |
This subject have been discussed from pass postings, you may want to do a search and see what other members are doing to safe keep their belongings.
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Pillar of the Community
United States
851 Posts |
I used to keep them at home but later decided a safe deposit was much more effective.
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Valued Member
United States
220 Posts |
I keep mine in a mason jar in the back yard  |
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Pillar of the Community
United States
4212 Posts |
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Moderator
 United States
16679 Posts |
Safe Deposit Box, some hidden in house in location that I don't think anyone would even consider to look.
swcoin.ecrater.com
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Valued Member
United States
487 Posts |
Is renting a safety deposit box expensive?
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Valued Member
United States
220 Posts |
Safety deposit boxes are quite cheap
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Valued Member
United States
487 Posts |
When I cash my check, I'll have to check out the cost of doing just that.
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Valued Member
United States
307 Posts |
I use a large safety deposit box for sets that have gold coins. The mint cases take up a lot of room but I still fill the box with other coins that I am not working. I have a small safe at home that is attached to the floor. I also have a rider with my home owners policy covering a max of $10,000 covering .Fire,Robbery with a police report. I have to provide an up to date inventory to my agent. There is also a $2500 deductible with this rider.
The cost for the safety deposit box was $68.50 this year. Next year the cost will be $81.00.
The insurance cost is wrapped up HO policy paid by our escrow account. I think I was quoted $46.00 a few moons back. We must be aware of possible theft. A man I work with had a small art collection he was very proud of and showed it to everyone. Someone wanted it more than him and when he was on vacation his house was Robbed and most of his paintings were stolen. Loose lips sink ships and cause people to want what you have. Good Luck.
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Valued Member
United States
426 Posts |
Quote:
I keep mine in a mason jar in the back yard  Right underneath the ol oak tree with the sawed off limb, right? Edited by RealPeso
10/25/2010 10:43 pm
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Pillar of the Community
United States
6326 Posts |
The only drawback, in my opinion, to a safety deposit box is "convenience".
How many banks catch fire and burn down each year ?
How many banks are robbed where they take the safety deposit box contents ?
How many banks flood each year during the rainy seasons vs. people's homes ?
Versus
House fires
Home break-ins (whether home invasion or when you're gone)
EVERY SINGLE YEAR there are hundreds of people scampering for shelter while their homes are being flash flooded ---just less likely with a bank **
How many homes are robbed versus how many banks are robbed each year ?
For me, it's just a matter of odds.....having all of my collection at home presents more worry than confidence.
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Rest in Peace
United States
1729 Posts |
I'm not telling. Okay, actually the guy in the photo in this thread is sitting on them and guarding them. Thanks, wheezy! |
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Moderator
United States
16679 Posts |
I pay $110 annually for mine. It's the largest one.
swcoin.ecrater.com
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Valued Member
United States
220 Posts |
Quote:
Right underneath the ol oak tree with the sawed off limb, right? Darn it now I have to move them |
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Bedrock of the Community
United States
17884 Posts |
As I have said before, the correct answer to this question is "In the safe deposit box at the bank."
It doesn't matter where you actually keep the collection, the answer is what I said above.
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Replies: 27 / Views: 2,962 |
Posted 10/25/2010 7:50 pm
