I have to move within a week and coins might be a problem.

I am moving to a place that lets just say I don't really feel safe keeping my coins there (I trust the person but I opened my dumb mouth and said I was bringing them, which I should of not done this is a family person and they have other people who come in the house)
I can easily get renter's insurance but my issue is that I got some coins in insanely good deals on ebay, I posted about it. For example I have bought a morgan worth $60-$80 for $1 so yea renter's insurance won't pay what it is worth only what I spent on it.
I have a choice to bring the coins with me or leave at storage, I feel less safe with storage.
I am reluctant but the coins I got at a insane price should I just sell them now?
I know I put myself in this place, I got a big mouth :-(

 

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That's a difficult situation. I would think selling some of them would be a good idea as the insurance will eat away any of the good deals you got (and like you said might not cover the full value).

You can also consider renting a safe deposit box, but look into all the rules and costs (some say you can't keep cash/coins in them; and you have to take into account how much the coins are worth vs how much the box rental will cot you to see if it's practical).

 

Idk, perhaps hide the coins in a secret spot in your stuff, I have never been in this situation of having to worry about my collections safety but I hope you find a solution!

 

Buy a safe. Toggle bolt it to the drywall. That way when you move out, a little spackle, and the holes are gone.

 

Edit I should add I can not bolt a safe, I will be in a living room.
I don't know what to do, I may try to find a way to hide it but I really don't know :-/

 

Do you know someone, a third party, that you trust to keep your coins for the time being?

 

Stitch it into an old coat or something, idk to be honest, perhaps a relatives house if its near by, I know I am not the biggest help but I will try my best to help you out.

 

If you can't trust the occupants of the home wouldn't it be prudent to find somewhere else to live?

 

Won't be the answer you want to hear, but since you'll be in a communal place and said something it's better to just sell them. Paying for any sort of storage of bank box will end up costing more than you paid. Anything sentimental would be different but just good deal etc it's time to cash them in. You can always make another account to put the money in and when you are in a safer situation start buying back things.

There's no point paying insurance or bank boxes on initially good deals, those will quickly turn into money losses

 

Sounds like a temporary situation that only requires a temporary solution:

Rent a safe deposit box. Peace of mind is worth it.

And if money is tight, sell a coin to pay the rent.

 

This doesn't give us an accurate estimate of the number of coins you have or how much they may be worth. If you only have a few, just sell them! If they are worth a few hundred dollars, just sell them. It's not like you have amassed a collection that has taken years to put together. You can always start over at some later date.

Chris

 

Jeez man. If I were in your situation it would kill me. After fifty years of collecting I have yet to bring myself to selling any coins. It would easier to sell my wife... Way easier, but I stray...... Some good suggestions have been given. If you haven’t investigated a safe deposit box you may be surprised at how affordable they are. I assume there are no trusted relatives that could keep temporary custody for you?

 

Hmm. Renter's insurance is generally a good idea anyhow, but I can't imagine it would cover coins very well. I know my homeowners' insurance specifically excludes "valuables" like that; even for my camera gear, I needed a separate "rider" (listing the individual items, their value/purchase price, and serial numbers), and it's an extra cost added to my base rate.

Another thing: such riders usually (?) cover "replacement cost" instead of only covering what you originally paid, but for coins or jewelry, you'd need a formal appraisal, which itself will cost money.

In your situation, I'd look at selling, or finding a safe place to stow/hide them.

 

It cost me $35 a year for a safe deposit box to keep paper work and my coins in.

 

I would bring them to workplace, there are cameras everywhere and security guards. Even if thieves come, they won't aware there are coins, they will be more interested in laptops or cellphones.

 

I would want to bolt it to something more substantial than drywall. Easily repaired but more easily damaged.

 

Ok thanks so much for the feedback everyone.
I have about $5k or a bit more worth of silver (the ones I got at a good deal worth about a total of $1k).
It's not so much I don't trust the family member but its the extended family that sometimes go there I don't trust.
I am going to be basically homeless in a week so it was why I said I have no choice but to go there, I have no savings and all I have are my coins. I also have no job. I been taking care of my mom for such a long time but she passed away 3 months ago.

With that said I may just take it over there and just find a way to hide it, it is in 2 draw file cabinet so maybe I can make it look like a table or something.

 

Yea I should reread my renter's assurance, but I think they cover upto $720 in silver - I need to read it, but I think you might be right about having to add each item and needing a appraiser, not good for me :-(

 

Blessings to you for caring for your mom. Good things happen to good folks and you certainly are one of those. Whatever you choose to do, I am sure in the end all will go well for you..... The only reason a door closes in your life is because a new door is about to open. I know that sounds all touchy-feely but I can assure you I have witnessed exactly that several times in my life. Best wishes for what lies ahead.