Do You Trust a Safe Deposit Box?

[Marchas45]

I hate to disagree with you maipenrai, but banks do have control of your box and yes they do manage it but not the contents. As for not being safe at home. I disagree but if you live in an apartment or such then I agree. If you have a home with a yard then it's a lot safer. Better yet if you have a stream. Lol IMO

 

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[jim4silver]

This is not related to safe deposit boxes, but gives a point to the "if you don't hold it, you don't own it" school of thought.

$100,000 reward offered for 1870-CC $20 | CoinWorld

I wonder who actually stole the coin if it was stolen DURING the shipment process as the story indicates?


Jim

 

[Marchas45]

This is not related to safe deposit boxes, but gives a point to the "if you don't hold it, you don't own it" school of thought.

$100,000 reward offered for 1870-CC $20 | CoinWorld

I wonder who actually stole the coin if it was stolen DURING the shipment process as the story indicates?


Jim

Just a drop in the bucket Jim. If you want to turn me in, we can split the reward. Lol

 

[maipenrai]

Well, if you have your stash at home, how do you keep it secret? You have to get to it, to add or deduct, and your wife will know, your kids will know, and as kids, they will tell their "best friends", and then, they will tell their best friends, and eventually, a lot of their parents will know, they their friends also. If your stash is buried, how do you get to it? How do you remember where it is, and all the other stashes? Sure, you will remember today, but things happen, then you forget.
What are the chances of a bank deposit being robbed, and what are the chances of a home burglary? Sure, you can say the gov will lock you out of your box, but that hasent happened yet in recent history, unless your a criminal. I just cant see building a "fort knox" at home to protect myself from all the perceived threats.

 

[fistfulladirt]

I really dont think "deposits" and "safty deposits boxes" are the same. The bank does not manage your safty deposit box. If its not saft in a bank, then it sure is not safe in my home!

I agree. Supposedly, your deposits are insured by the FDIC. Your safe-deposit box, while uninsured by your bank, may or may not be safer than storage at home.

 

[Jason in Enid]

Well, if you have your stash at home, how do you keep it secret? You have to get to it, to add or deduct, and your wife will know, your kids will know, and as kids, they will tell their "best friends", and then, they will tell their best friends, and eventually, a lot of their parents will know, they their friends also. If your stash is buried, how do you get to it? How do you remember where it is, and all the other stashes? Sure, you will remember today, but things happen, then you forget.

Sorry, can't give away those type of secrets. Even telling the methods of doing it are giving away too much.

 

[Marchas45]

Sorry, can't give away those type of secrets. Even telling the methods of doing it are giving away too much.

LMAO Happy Thanks Giving. Mine Is Somewhere On 40 acres and Only My Wife and Daughter Knows Where It's At. Lol

 

[namster]

Operational security is worth more than any safe. Keep your secrets close, gentlemen.

 

[cyberdan]

...If things get so bad that the banks close and never reopen and don't allow people to get their stuff out of the SDB we will be living in a time that we have not yet seen in the US in modern times. Not saying it couldn't happen, but it has yet to happen at least in modern times.

That happened here in SoCa. A bank just closed it's doors a mile from my home. About a week later I had to go to my bank's safe deposit box. This bank is just a block from the closed bank. It is a major chain. I went into my bank's vault and saw a big mess. The teller who let me in moved things around, they had bought all the safe deposit boxes from the closed bank. They were slowly getting the box owners to open their boxes and transfer to my bank's boxes. The SDB were in cubes of about 12 to 24 boxes and many had wheels on them. there is still a big rack of boxes that always blocks mine but no problem.

They said when they had to transfer them it was done in the middle of the night with extra heavy security standing guard.

 

[fistfulladirt]

So, in summary, they did allow you to access your SDB Dan, thank goodness.

 

[NjStacker22]

Here's how I feel about SDB's.

I think they are SAFE... but no, I do not TRUST them.

Therefore, it's me and my big a$$ safe bolted to the floor

 

[Dixiegal]

Well if the SHTF while your PM is in your safety deposit box you take the chance that during the banking holiday they will go into your box and confiscate your PM and replace it with "new dollars". Its a pretty likely scenario if/when the dollar crashes. I shut down my safety deposit box 2 years ago.

 

[NjStacker22]

Well if the SHTF while your PM is in your safety deposit box you take the chance that during the banking holiday they will go into your box and confiscate your PM and replace it with "new dollars". Its a pretty likely scenario if/when the dollar crashes. I shut down my safety deposit box 2 years ago.

I'm pretty sure that would be HIGHLY illegal to enter someone's safety deposit box to 'swap' items. Just because the dollar crashes does not mean laws are thrown out the window.

Not saying I would trust a SDB because I don't... But I don't think that would be a likely scenario.

 

[Dixiegal]

Trust me when the dollar collapses and we go to the new devalued dollar it will probably take 3 old dollars to buy a new dollar. That's about a 66% devaluation. They will most certainly go into all the safety deposit boxes and change out currency and while they are at it they will convert your PM for you as well. Laws have nothing to do with what the govt will do in an economic crisis. Keeping PM in a safety deposity box is really risky.

 

[jim4silver]

Yes it is possible the Gov can confiscate anything it wants. However, those saying the Gov will confiscate your PMs never explain why this would happen again, but only rely on that it happened once before. Any confiscation proponents please tell us why this will happen and how it will make any difference to the Gov debt-wise?

Remember the old quote about why the gangsters robbed banks, "because that is where the money is". Today, the "money" is in 401Ks and IRAs. Probably the same folks who think their PMs are not safe in a SDB have most of their accumulated wealth sitting in a retirement account somewhere which is held by a bank and/or have their life savings in bank CDs and such. Will the Gov confiscate those too?

If the Gov gets so desperate they start taking our stuff, PMs will be at the bottom of the list because most likely less than 1% of the US population holds any PM in bullion or coin form (not counting the few 90%ers that many received from departing relatives, etc). Will the Gov start taking wedding rings?

The real "money" from a numerical standpoint is anywhere BUT in PMs. By the time the Gov decides to take your PMs, they will have most likely nationalized your 401Ks and IRAs, seized your land/property, increased taxes to the roof and maybe even made gun ownership illegal. I am not saying any of these things will come to pass, but if any do, confiscation of PMs will be last most likely because there is not enough out there to make a dent in any Gov debt.

My view on this would only change if there is an extended period of "mania" where everyone and their brother runs out to buy all the gold/silver they can find and all the retirement funds are cashed out and the money is spent on PMs. Too bad for the sheeple that by the time they decide PMs are a good buy, gold will be over $2000 and silver over $50. Not too easy to add to the stash at those prices unless you are rich.

Just my opinion.

Jim

 

[usandthem]

I read somewhere that the government was already working on nationalizing 401Ks. They want to use the funds to buy T- bills. This is supposed to help get us out of debt somehow.

 

[Produce Guy]

If you can't trust a bank,than a good safe from a GOOD Safe Company should be in your future,maybe more than just one,I have several small ones,and one bolted to the floor of my house.You might even look to the world wide web on safe places to store your valubles,or safes that don't look like safes.

 

[eolson3]

I agree with the line " I think they are safe but I don't trust them". bottom line, if I ever NEED them, I want them to be at hand....

 

[worldtalker]

I still say the bank of the back yard is your best bet,tell NO ONE,save the ones you trust with your with your life!! GodBless Chris