Safe Deposit Boxes

Like I said earlier, not feeling the need to prove these points. We can agree to disagree. No disrespect meant by any means. I wasn't targeting my comments at anyone in particular. Just the general state of things. Time will tell on all this stuff. I truly hope any negative doom and gloom beliefs I or others have are completely wrong. I didn't know anything about these topics 5 years ago. I find negative forecasting quite depressing and my hope is certainly not in material things (can be taken, sold. Etc) but in my faith and enjoying my family and friends. No intention to be putting anyone down. I was speaking to the state of things in general. No one can argue that the economy is roaring ahead healthy and strong.
To say my Orwellian prediction has been proven wrong is inaccurate, however. I did not , nor others here, say when this would happen. Just observing trends toward the loss of freedoms in the name of safety (the Uk has cameras all over every major city, for example). For myself, just pointing out trends that I think most people are unaware of or callous to the seriousness of. The concept of agreeing to disagree (we can still be friends when we don't see eye to eye). Has vanished. As I said, I hope the doom and gloomers observations are wrong. I have a pretty decent life, and a wonderful family. I want it to stay that way.

 

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I would add, that at least for myself, I was much more content prior to learning some recent things I have learned. I am hoping for the best and planning for the worst. I am an optimist by nature and I think we all want to have a good life, prosper, and enjoy our friends and families. Those of us who feels this is being threatened, I don't think have a sadisitc need to be nervous and unhappy and worried. I am also a realist. 900fine, Mark or anyone else (especially Mark whom I greatly respect after reading many of his posts on NGC boards)- hopefully no remarks here were meant to be specific you you being in a bubble. I am talking about society in general- no one specific in mind with those comments.

 

I agree here Mark (partially). Homes are not necessarily safe either but at least you have more control (it would seem). Ultimately all material possessions in life can be taken right? Flood, earthquake, nuclear war, robberies. Lots of things like this are not in our control. Sometimes, I have to remember that when I get so excited about my next new coin. Has anyone ever been on this site a little too long (or orther Coin sites) at the expense of our friends and family. All guilty say "I" :high5::high5:

There is a difference between worry and planning. No one will be worse off for planning for any kind of disaster regardless of what you believe the cause is. Do you have enough food, water, cash, and other things to take care of yourself and family for a period of time? We should all do a little planning in this regard. Especially those that live in big cities, ie, not on a self-sustaining farm or rural area.

 

BTW- since I am on a roll, it's fathers day and I for one, am a father of two great kids. Lets all take it easy and enjoy the rest of the day (almost over if your on the East coast). Happy fathers day to everyone who is a dad. It's a great thing.

 

I agree with Boss completely, but I think it's time to go back to safety deposit boxes.

How much does it cost(normally) to open one? I'll keep my bullion at home but my coin collection will probably go in a SD box when I go back to college.

EDIT: Changed my mind after this... I live in PA, http://www.youtube.com/watch?v=UdB2YiymmUc

 

Ditto to all of that Boss. Same here, happy, family, the coolest son in the world , great wife..and I want it to stay that way. History, and researchable facts are pretty scary. I am no more or less ignorant than anyone eles. I didn't care a hoot about all this stuff until I had a kid. Everyone's chasing a dollar, or two, or 20 billion. We all have to by default I suppose. Noone ever seems to have enough money or time, myself included. I also meant no disrespect. I get wound up about this stuff sometimes I get a bit defensive. We can all stick our heads in the sand, and keep chasing the almighty dollar as I suppose we must, but it'd be nice if we all took a bit of time to do some digging in our history and current events and compare two. Do us all some good. Facts are very easy to discover and verify in this internet day and age (key word is verify..anybody can post anything,doesn't make it fact as we all know).
All right. Now I'll go sick my head back in the sand.
So...we were talking about coins, right?

 

So any time a concern is raised and "nothing comes of it" there was never a true concern in the first place? A case i have some knowledge about is the "millenium bug hype". People raised major concerns about what the turn of the millenium would cause and in the end there were only minor glitches. No real threat, right?

Not quite true. the result of the concerns raised were that companies like my brother's, and others, spent better than 2 years scurrying around reprograming the control systems of things like power plants, hospitals, municipalities and such. Many of these systems were taken offline and tested prior to reprogramming. If the modifications were not made some scary things would have happend.

Because of the concerns raised, events were put into motion that prevented the problem from occurring, and the people that raised the concerns in the first place were ridiculed.

Richard

 

danis, you asked how much it costs for a safe deposit box, mine at my credit union cost 25 dollars in advance for a years rent, no fees to open it, to me it is cheap.

 

hm that's not bad at all. I think I'll get one then :high5:

 

WOW!!! Thanks for posting that video. I thought it could happen but had no idea it was that out of control!! What a gift to everyone here!

Thanks for posting. That's another major hit to the argument I'd say. How does the state of CA get their hands on personal property at a private bank anyway!!!??!? Now THAT"S desperate measures.

There's no way I'd trust any of these criminals if the box was free.

Mark, I never disputed that personal property at homes would be off limits. It very well could be at the same amount of risk. I'm just saying that the SDB's would be the FIRST thing compromised because it's all there in one, convenient location for the taking.
On the other hand, it might take some time to find 1 in 100 houses that has a significant stash of value that somebody would want to confiscate. Time enough to hide or destroy what ever is there. Worst case scenario, I'd rather lose or destroy property than give it up so it could be used against me, personally. Maybe some would choose otherwise. I wouldn't want a dime of my wealth helping to fund anything I was against.

900, you seem to be extremely irritated. Do you think any of us enjoy the truth of what's going on??? Really?? I too think it's very depressing. But I'd rather know than just one day be blindsided and SURPRISE!! Things aren't what you always thought they were!! You lose! That would be harder for me to take than to gradually find out now.

Just because something hasn't happened in your short lifetime isn't an adequate writeoff of the facts and possibilities I'm seeing these days. People that really want to know things do some investigating on their own time, beyond the 10 o'clock news. We're very lucky to have the internet.
Think what can be learned from this thread alone! The simple video links and exchange of info in this thread alone is something that people didn't have 20 years ago. So how badly has everyone been in the dark up to this point? Even before youtube!
It's hard to stay positive when you see as many dire situations as we have now. The above video link for example. A state SO broke that they've resorted to legally stealing out of people's SDB's to put money into the general fund!!! And what is people's recourse? To tie up their lives in the court system with no compensation for their time or money.

Just a sign of the times whether you like it or not.

It's no reason to blow up on people about it. Do you think any of us look forward to a miserable world? Unfortunately, I view the world in a completely different way than I did 10 years ago. Totally, totally different.
People can believe whatever they want to believe to keep themselves happy. It just isn't that helpful to people who are only trying to be realistic, regardless of where that path may lead. For the sake of thier welfare.

Nobody should expect a clear cut, advanced, warning about anything that has to do with finances if somebody else can benefit from there being no warning. Nobody's going to come out and say gold is going to 2,000 in a couple weeks because of "blank". Nobody's going to say the markets WILL plummet next month because of "blank". And nobody would ever come out and say we're confiscating SDB's next week because of "blank" emergency. If they did, it would kind of defeat the point of doing it. So to say it could never happen just because it hasn't happened yet is a wreckless guess. Oh wait..... IT IS HAPPENING!!

 

I don't buy into this government seizure stuff. Sure, it could happen. But, I feel other events are much more likely. I prefer to keep my coins at home because I like to look at them. I don't want to drive across town to look at my coins. Would they be safer in a SDB than in my safe...probably a little, but I think they are fine where they are. If you feel safer having your coins in a SDB then put them there. They aren't very expensive. As far as them affecting toning, if the coins are properly stored it shouldn't be an issue.

You put that in quotes as if it's not true.

It depends. The bank I worked for changed between $25 and $125 a year for the box depending on the size. The were no other charges other than annual fees. Owners could come in anytime during banking hours to have their box opened without charge.

 

Folks word of warning to all keep the topic clear of Political discussion ok, if you want to make it political take it to the PRWE forum :thumb:

 

I have accounts in 5 different banks. I have safe deposit boxes in all of them. As to any possibility of the government confiscating them, I think of this. In this country there are millions and millions or more safe deposit boxes. Our government would have to hire the entire population to have enough people to confiscate them all. And just what would they do with all the family photos, birth certificates, stock certificates, first Valentines card from a son or daughter, strand of hair of first hair cut, wills and all those other super valuable items????????
None of these banks have separate A/C systems for those areas. That would be a waste of money and most banks don't waste money. Eliminating the thing about adding moisture in those areas at least in those 5 banks.
I keep all coin albums in Zip Lock bags anyway.

 

If you are arrested (on certain charges) they seize your box and the chances of getting the stuff back is pretty small. Btw this is not uncommon, it happens everyday, and all of this is before you go to court (before you are proven guilty).

 

If you're worried about that, simply have a trusted family member sign on to the account/box to be able to access it.

 

And when the "trusted family member" gets busted they are listed as a co-signer on your box and it gets consfiscated for what they may or may not have done instead of what you didn't do. same end result.

Richard

 

Sure, you can always think of what if scenarios. But I believe that the odds heavily favor box-holders over those who keep valuables in their homes. Still, everyone should do what makes them more comfortable.

 

It's VERY rare for a box to be drilled and there's all kinds of procedures involved. I'm sure there have been a couple examples of mistakes made (that video for example)...nothing is perfect. But, that happens at an unbelievably small rate in comparison to home thefts.

I worked at a bank for a year and in all that time we had 1 (one) box drilled. That box was drilled because the owner hadn't paid in several years and attempts to reach him through multiple paths had failed. The state had to confirm the customer had passed away. The contents were then turned over to the state for them to locate the next of kin...and if not then to be auctioned. But, it is very rare and complicated.

Are SDB's 100% perfectly safe...of course not, nothing is. But, they are much more safe than a home storage method. If you are want to have your coins in the safest possible location than a SDB is the answer. I have said many times I don't use one because I want to have my coins near me so I can enjoy them when I want. I accept that this is more risky when it comes to possible theft...but that is my choice.

But, the fear that the government or bank is going to seize your things is like believing your going to win the lottery twice in the same day and then spontaneously combust.

 

I'm gonna add my 2 cents because everyone else has..........What it boils down to is your belief in society and our government. I don't keep my coins in a SDB for three reasons. #1 I simply have too many valuable coins and not enough money in the bank for the bank to offer me free space. #2 If an emergency arrives and I need bartering chips now and not later, I want to be to get those bartering chips.( I am somewhat of a conspiracy guy). #3 I can keep a secret. If you cannot keep a safe in your home without the people in your home telling others what is there, then don't buy one. And be honest with your self, if you know that your girl friend or wife, or kids are gonna blab cause you got this cool new safe, just don't buy one.




#1 Too much to store
#2 I want it on hand
#3 I can keep a secret