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Where Do You Keep Your Coins (Have Insurance)?

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Pillar of the Community
United States
759 Posts
 Posted 10/28/2010  2:03 pm  Show Profile   Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
Some data:

Cost of safe deposit box: $40-100 or more. Most likely around $65.

Cost of insurance rider: $10,000 replacement coverage, $250 deductible ($250, not $2500), $99 per year.

So for $34 a year, things could be kept in the houses with minimal FINANCIAL risk. Of course, heirloom coins can never really be replaced.

I forgot to ask about replacement. So if things go missing, do I get a check for $9750 or must I replace precisely what went missing, not sure. You'd think it would be the check, but other experience indicates otherwise. In a different state, when a Stihl 48" bar chainsaw went missing, I received nothing until I showed a receipt for another Stihl 48". 42" would not be reimbursed. So maybe a MS62 1914-D Eagle would need to be replaced with another one. I'm not sure, but at least these numbers help me and maybe somebody else.
Pillar of the Community
United States
2600 Posts
 Posted 10/28/2010  3:12 pm  Show Profile   Bookmark this reply Add Jim1953 to your friends list Get a Link to this Reply
Anything of value is in the safety deposit boxes, period.

Insurance, a $50 rider on my home owners policy.

Security:

Alarm System

Large dog with bad attitude

Smith and Wesson protect agency

Jim
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Maineman750's Avatar
United States
3592 Posts
 Posted 10/28/2010  3:20 pm  Show Profile   Bookmark this reply Add Maineman750 to your friends list Get a Link to this Reply
Believe it or not...mine are in a dynamite safe...got it off a large contractor years ago...put it in my conditioned garage.Also have insurance.
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AGCoinHunter's Avatar
United States
625 Posts
 Posted 10/28/2010  3:21 pm  Show Profile   Bookmark this reply Add AGCoinHunter to your friends list Get a Link to this Reply
I dont own any gold or silver coins. I lost all mine in an unfortunate boating accident a few years back.
Valued Member
david mackenzie's Avatar
Canada
183 Posts
 Posted 10/28/2010  3:49 pm  Show Profile   Bookmark this reply Add david mackenzie to your friends list Get a Link to this Reply
Close to my gun collection
Valued Member
Dvorak's Avatar
United States
55 Posts
 Posted 10/28/2010  4:17 pm  Show Profile   Bookmark this reply Add Dvorak to your friends list Get a Link to this Reply
My 1-year-old's used diaper can.
Pillar of the Community
United States
1554 Posts
 Posted 10/28/2010  11:52 pm  Show Profile   Bookmark this reply Add 1893S to your friends list Get a Link to this Reply
Safe Deposit Box for valuables, Very heavy home safe for not too valuables, and a coffee can/box etc. hidden well for others....sincerely...good luck
Valued Member
United States
161 Posts
 Posted 10/29/2010  12:04 am  Show Profile   Bookmark this reply Add lizzyjo to your friends list Get a Link to this Reply
I keep my small collection under constant supervision of my roommate's very aggressive and territorial pit bull terrier.
Where-Do-You-Keep-Your-Coins-Have-Insurance?

(Just kidding!)
Where-Do-You-Keep-Your-Coins-Have-Insurance?
Bedrock of the Community
United States
20753 Posts
 Posted 10/29/2010  12:20 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Is renting a safety deposit box expensive?


That question is really difficult. The reason is it is pending on where you live, the banks policies, the amount of buisness you do with them and many other factors. For example I have 5 safe deposit boxes in 5 different banks. All are about the same size. Two of the banks are the same organization so the prices are the same. All of the others are different. Two of the safe deposit boxes are free due to the other accounts I have with them and many other banks do similar practices rather than giving away stuff that no one really wants for their buisness. When a bank does that though, they are usually really small boxes but if free, so what.

Quote:
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 ?


And to that so much depends on where you live. If around Huricane areas, they flood, crash, wash away, etc. just as easily as a house.
The only banks robbed for safe deposit boxes are usually on TV programs. Even criminals don't waste time with those boxes knowing full well most are full of papers.
And as to a banks fires. Not sure but so far I've never seen, hear of, know of any banks burning around me. Must have signs saying no fires allowed.
And to insurances. I've mentioned this before. Insurance companies want you to document everything. All goes into their computers. How many people have access to that info and how many of them stay with that company? And how many take that info with them?
Might as well just place a sign on your door saying what you have.
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Conder101's Avatar
United States
17884 Posts
 Posted 11/01/2010  2:33 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
I lost all mine in an unfortunate boating accident a few years back.

Unfortunate boating accident? Did it sink, capsize, or did you buy one?
Edited by Conder101
11/01/2010 2:34 pm
Pillar of the Community
Gothic Florin's Avatar
United States
2541 Posts
 Posted 11/05/2010  10:05 am  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
In the Lehman Brothers vault....dohhhh!
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CoinHunter53562's Avatar
United States
2049 Posts
 Posted 11/05/2010  10:53 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply
To play devil's advocate for those saying safe deposit box is the way to go, maybe read up on this article:

http://abcnews.go.com/GMA/story?id=4832471&page=1

Obvioulsy there are drawbacks to keeping them at home but one has to be careful in thinking that safe deposit boxes are 100% secure and worry free. Just some food for thought...
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