in a safty deposit box

[thing]

I want to place my coins someplace safe. I figure that a safty deposit box is best, but unfortunatly, I keep my half in a 500 box and it wont fit in a deposit box. Anyone have any ideas on storage or a bank that offers rally massive CHEAP deposit boxes?

 

[fistfulladirt]

Comerica offers a decent sized box at 24x6x4, $20 a year. Pretty much room for my 90'z only. Was either that or my back yard. ffd

 

[Diver_Down]

What you need is your own treasure chest.

 

[obediah]

I want to place my coins someplace safe. I figure that a safty deposit box is best, but unfortunatly, I keep my half in a 500 box and it wont fit in a deposit box. Anyone have any ideas on storage or a bank that offers rally massive CHEAP deposit boxes?

Safety Deposit Boxes are NOT safe from Gov confiscation- it has happened before, FDR seized them all and only way they could be opened was with Gov agent present who seized ALL the Gold that was in them.

 

[fistfulladirt]

I want to place my coins someplace safe. I figure that a safty deposit box is best, but unfortunatly, I keep my half in a 500 box and it wont fit in a deposit box. Anyone have any ideas on storage or a bank that offers rally massive CHEAP deposit boxes?

Safety Deposit Boxes are NOT safe from Gov confiscation- it has happened before, FDR seized them all and only way they could be opened was with Gov agent present who seized ALL the Gold that was in them.

Fire, theft, govt confiscation, oh well, guess it's out to the back yard with a shovel!

 

[Bayman]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

 

[fistfulladirt]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

If it can be carried in, it can be carried out by thieves.

 

[AGCoinHunter]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

Just don't bolt to the wall but bold it down into a concrete slab. Walls can be wrecked fairly easy, concrete is a lot harder to get out.

 

[Daniel964]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

If it can be carried in, it can be carried out by thieves.

It can't be carried out very well if it's bolted to the floor from the inside of the safe. I prefer bolted to a concrete floor and concrete block walls build around the sides and back with re-bar reinforcement. Won't stop someone that's determined to get in and has the tools but will stop a casual break in attempt.

AG looks like you and I think a lot alike. You were typeing while I was.

 

[Diver_Down]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

If it can be carried in, it can be carried out by thieves.

FFD,
Although that is true, but it doesn't take into account of the safe being full. I had 2 guys (280 lbs + each) struggle to move my empty safe into place. Right now, I'm literally tucking rolls into corners as it is jammed packed. With the original safe's empty weight and the contents that add easily another couple hundred pounds and with it being bolted to the slab and with less than an inch on either side to prevent leverage, I'm fairly certain that it won't be going anywhere. In fact, it will end up staying with the property when I sell.

 

[AGCoinHunter]

In my opinion, it would be better to invest in a safe, or at least a fireproof gun cabinet, which can be bolted to the wall. You can add shelves for your coins.

If it can be carried in, it can be carried out by thieves.

It can't be carried out very well if it's bolted to the floor from the inside of the safe. I prefer bolted to a concrete floor and concrete block walls build around the sides and back with re-bar reinforcement. Won't stop someone that's determined to get in and has the tools but will stop a casual break in attempt.

AG looks like you and I think a lot alike. You were typeing while I was.

Brilliant minds think alike!

 

[fistfulladirt]

Not sure how it goes for the rest of the country, but it's interesting to note that my safe deposit box is not insured by my bank. My homeowner's insurance does not cover cash over $200, but they will insure rare coins (that must be appraised) with a seperate policy.

ffd

 

[jim4silver]

I am a bit surprised at the confidence some here have in bolted down safes at home. Yes, they will probably work against a crack-head, smash and grab type break in.

But if a slightly more professional thief targets you, say due to your interest in PMs somehow, your safe might not be so safe.

I was talking to one of my coin dealers who has a massive, very expensive safe in his store. It is in plain view to the customers and it is much more secure than what most people would buy as a gun safe or home safe, etc. He said it is only rated as a 30 minute safe. Meaning a good thief can get inside in 30 minutes or so. If you go on even a day trip somewhere, how long will it take a good thief to get into your safe. I know that many home safes, even bolted down models, might not stand up
well to a simple sledge hammer or a torch. A professional safecracker is even more efficient than the hammer or torch.

I believe that a hidden, high level home safe is the best way to store PMs. Plus, a good home security system (burglar alarm) added to that. Perhaps then keep a less professional bolted safe in the open with some 40%ers in it, so maybe they will think that is it and not look too much for your hidden safe with the gold and other higher end PMs.

I rent now so I am forced to use the safe deposit box because others (landlord, and whoever he may have given them to) have keys to my house. It worries me, but I am less worried than if I had them in the house. I am unable to have a professional hidden safe installed since I don't own the place, but if I did that would be the first thing I would do. It is well worth the cost if you have a decent amount of PMs, which are basically uninsurable thru conventional methods.

Jim

 

[jim4silver]

I want to place my coins someplace safe. I figure that a safty deposit box is best, but unfortunatly, I keep my half in a 500 box and it wont fit in a deposit box. Anyone have any ideas on storage or a bank that offers rally massive CHEAP deposit boxes?

Safety Deposit Boxes are NOT safe from Gov confiscation- it has happened before, FDR seized them all and only way they could be opened was with Gov agent present who seized ALL the Gold that was in them.

I would be more worried about the bank folding and shutting its doors, and making it difficult or impossible to recover what was in the box. If there were to be another government "seizure" of gold, I would hope to be out of gold by then since after the law is passed it would be difficult (and illegal) to own, sell, transfer, etc., gold at that point. I would want to have sold mine by then and put the proceeds into land or other such tangible goods.

If there was to ever be another confiscation order I do not believe it will happen until the dollar is close to zero and gold is worth several thousand per ounce. Because by simply creating such a gold confiscation law in this day and age it would show the world that we believe our dollar is worthless and the law itself would result in everyone dumping it, which would cause the dollar to go to zero. My gold and silver selling exit plan will take place before it gets to that point.

Right now the dollar is still the most popular and strongest (perception wise) fiat currency, especially now with the euro's problems.

Jim

 

[Diver_Down]

I am a bit surprised at the confidence some here have in bolted down safes at home. Yes, they will probably work against a crack-head, smash and grab type break in.

But if a slightly more professional thief targets you, say due to your interest in PMs somehow, your safe might not be so safe.

I was talking to one of my coin dealers who has a massive, very expensive safe in his store. It is in plain view to the customers and it is much more secure than what most people would buy as a gun safe or home safe, etc. He said it is only rated as a 30 minute safe. Meaning a good thief can get inside in 30 minutes or so. If you go on even a day trip somewhere, how long will it take a good thief to get into your safe. I know that many home safes, even bolted down models, might not stand up
well to a simple sledge hammer or a torch. A professional safecracker is even more efficient than the hammer or torch.

I believe that a hidden, high level home safe is the best way to store PMs. Plus, a good home security system (burglar alarm) added to that. Perhaps then keep a less professional bolted safe in the open with some 40%ers in it, so maybe they will think that is it and not look too much for your hidden safe with the gold and other higher end PMs.

I rent now so I am forced to use the safe deposit box because others (landlord, and whoever he may have given them to) have keys to my house. It worries me, but I am less worried than if I had them in the house. I am unable to have a professional hidden safe installed since I don't own the place, but if I did that would be the first thing I would do. It is well worth the cost if you have a decent amount of PMs, which are basically uninsurable thru conventional methods.

Jim

I'm fully confident in my PM security. Like you alluded to, mine is hidden within a closet that has only 1" clearance on all sides. There is also, the home security system and 5 dogs. Not to mention my lunatic neighbor with his gun arsenal. I live on a long private drive that my neighbor overlooks. He knows of anyone coming and going as he is home most of the time. Besides that, my home is surrounded by prickly palmettos that prevent individuals from straying onto my property. I do employ honey pots that are plain and visible through out the living area.

 

[quiksilver]

Prices for the same size box can vary from 25 to 125. Shop around.

Everyone will tell you different ideas about where to store your "stuff". My take is that they are all right and we are best served by storing a little in each of them. Never put all your eggs in one basket.

One thing not often mentioned is who to tell where your stuff is hidden.If you tell someone you live with then they will give it up if under threat.That being said my wife doesnt know everything nor will she ever. Like it or not we live with our choices.

If your concerned about safety deposit boxes you may only want to put the stuff in it that wasnt confiscated last time, tho that doesnt mean it will be safe next time......

 

[jim4silver]

If you tell someone you live with then they will give it up if under threat.That being said my wife doesnt know everything nor will she ever. Like it or not we live with our choices.

I did not want to bring this up, but it should also be considered. I have heard of situations where a spouse decides to leave and takes the PMs with him/her unannounced. They later deny it and claim the house must have been broken into. Usually the person who had been buying and collecting the PMs does not have good records showing what was bought and when, with amount, etc (and under this circumstance it might not matter).

Just something else to think.....or worry about I guess.

Jim

 

[golden silver]

Trade for gold then store it in a smaller safe deposit box.

golden silver

 

[timbobwey]

I'd get a safe if I were you.. I wouldn't trust safety deposit boxes, especially if silver rises high.

 

[Megalodon]

Its easy to place a safe in a closet of a home that has already been finished. But keep in mind that a good safe may weigh three times as much as your refrigerator, so do check floor joists first.
When planning a new home construction, consider a hidden room in a basement. The entry into the room below grade can easily be hidden by moldings. Be sure to consider quiet climate control for your safe room (tap into ducts), and use goldenrods in the safes.