Coin Security

Perhaps a gun cabinet might be what you are looking for? I don't know if they would make a safe that big. Also the weight might be a factor...depending on what floor you'd be putting this...

for fire and coins no need to go overboard 62,000 btu is good bolt it to the floor then encase it in concrete and re-bar. this should buy you at least 4 hours with the thieves.

There was a story in the news in B.C. a couple of months back about a guy that had converted his entire savings (something like 750k) into silver bars, stored at home, in a large safe.

Somebody talked, and thieves dressed as RCMP bluffed/forced their way in and stabbed him until he opened the safe. As he lay bleeding, they loaded the silver into a Toyota Camry and made their getaway.

I think the moral of the story is to be very careful who you tell about whatever security arrangements you have.

If anyone asks me, I say they're in the safety deposit box at the bank.

There's an outfit that custom makes gun safes and vault doors, with or without fireproofing, and sells on ebay.

In Canada, you can take out a policy specifically on coin insurance, in your residence, while in transit or even for coins in the safety deposit box. With preventative measures, (alarm systems, etc.), it costs about $300 annually, per $50,000 coverage in your residence. To put it in perspective, that is much cheaper than insurance of the same coverage value for a car. I won't say specifically here what company, but they routinely advertise in the CNA Journal.

Well, I imagine it is just like anything else. To use the car analogy, you get an estimate of the market value, based on cars listed for sale with the same vintage, options and mileage. Instead of an automobile insurance adjuster, a coin dealer is probaby hired to get an estimate of 'market value'. Let's not open the can of worms as to what 'market value' actually means!

The onus is on you, the collector, to keep meticulous records of your collection. I use an Excel spreadsheet and take digital photographs, with a back-up of the data offsite (in case of fire, flood, tornado, etc...). The really important stuff, well, I too use a safety deposit box at my bank. I should reiterate here, I am not referring to your homeowner's insurance policy - that usually only covers up to $500 to $1000, depending on the company. I was referring to specific third party coin insurance. Ultimately, it all boils down to a personal choice... Chances are nothing could happen, and I am merely throwing away good money each year on insurance. Alternatively, I could sit inside my house with my bear gun and guard my coins, or, as I have done, opt for insurance...

First of all, the safe idea. I have purchased a Gun/Executive safe from Costco, about what is described by darryldarryl. It is not fire rated, but can be bolted to the floor. I also drilled holes to bolt it to the back wall also. It is about 350 lbs I believe, so you have to watch your floor construction. I have been lucky to be able to bolt to a cement floor. I also have a small safe that is fire rated. It seals completely, and that means no breathing of fresh air. The objects inside have taken on an odor, because of no ventilation. I am about to get some desecant to put in. This is where I store bills, etc. It weighs about 90 lbs. Bolted to the floor. About insurance, In the Canadian Numismatic Journal, there is a company that will insure your collection. Here is the web site, hwint.com. Their phone number is 1-800-240-7055. Try them, but my insurance company that sells me house insurance does cover coin collections, but are added as a rider policy. In my instance, it is cheaper for me to insure where I purchase my house insurance. Hope this helps.

As far as fire damage you might want to remove coins from anything plastic to avoid a burned/melted plastic mess. I'm not sure I'd be too concerned with the moisture from a fire safe because its only released in a fire and short term a little moisture may be ok as long as its not acidic or something. Maybe sealed glass jars inside the fire safe with a little 3M anti-tarnish strips and some silver cloth.