Safe or safe deposit box?

What do most of you use a safe or safe deposit box at the bank? I had most of my collection stolen (off a living room shelf) some years ago and now that I'm back to collecting I want things a little safer this go around,I'm thinking of getting a safe cause what good is a coin collection if it's locked up where I can't get to it when I want? But maybe thats not the wise choice? So how do you all keep your coins safe,and what kind of dehumidifier should I get for a safe if I go that route? I also have kids in the house and don't want to see any parts of collections dissappear for candy money Hey I was a kid once too,you'd think the old man wouldn't miss just one silver dollar or half dollar!

 

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I feel a person needs both. Once I have good images, the cool stuff goes to the bank box.
My safe at home is just for things I could live with loosing but I do have it insured.
My home is a circus of young folks coming and going. When I need help, I have an army ready. I could really tell some story's of times these young men have covered my backside. It's the best security system a person can have if everything is kept put away. The bad guys don't like lots of people being around.

 

and in today's world, one or more could be your worst enemy if they are aware of what you have. So, while it is good as you say, to have a frequent flow of visitors, loose lips sink ships as the old saying went. I do agree that both have their individual benefits and proper photos with receipts of purchase and insurance is wise.

 

I have a safe deposit box and and a safe.

The safe is neccessary because a safe deposit box could not hold my entire collection. Basically just gold goes in the safe deposit box. The packaging stays home.

My number #1 rule is to tell no one I am a collector.
My number #2 rule is to tell no one I have a safe.

 

:kewl:

 

A couple things about home safes:
1. For insurance purposes a Class-B (also known as a "2 hour" safe) is recommended.
It provides fire protection for 2 hours at about 1800 degrees. Good enough for house fires.
Hugh Wood requires that for their less expensive insurance.
2. Make it heavy (too big for 2 people to take).
Or better yet bolt it to the floor.

Now the bad news: A safe that type and size will cost more than $1000. You might be able to find a old one for less.

ldhair's suggestion of splitting the collection between the bank (expensive items) and home (inexpensive items) is another reasonable solution.

 

Thank you for the suggestions everyone,I like the idea of both and might go that route.

 

Storage for Coins

Maurice Rosen had an article recently on this topic in his Advisory. Gary North's site also has queries from time to time on this issue.

If you are on the up and up with the government, a safe deposit box is probably the way to go with expensive items. I don't think we will be seeing a repeat of 1933 very soon, where the IRS agents would not allow bank boxes to be opened unless they were there to inspect them.

Costco has good deals on safes. Check the rating--i.e. SP15 means that it will probably take 15 minutes for safe crackers to get the contents.

The problem with any quantity of silver is storage. $20K in 90% would cost at least $200 a year to store. With gold, etc. $200 would buy over 20X in value for storage.

 

I like and have both. Get a high rated safe, TL-15 or TL-30. Look around for used and you will find a deal. I like having the access to coins but also keep many in the Safe Deposit Box.

No matter the size of the safe bolt it to the floor. With adrenalin they may not steal the safe but a whacked robber will may a mess of your house trying. He cant move it bolted, unbolted it will move and ruin floors, etc.

 

Neither a safe or a deposit box. First is a target for thieves, the second is the target of the government.

 

Is there a site that rates safes for the use as most numismatis would use?

 

I store mine in a safe. The best way to secure a home safe isn't by buying the most expensive or largest safe, it's making sure a would-be robber never makes it into your home to begin with. Your best investment should be in home security first.
Guy~

 

Both !

Most of my coins (and 90% of the value) are kept at the SDB at the bank. I keep a few coins at home, on rotating basis, so I can enjoy 'em. When I leave town I lock all of 'em up at the bank so nothing is at home.

 

900fine said it fine

Most are at the SDB and some common bulky stuff stays in the safe (builk common wheats and such) except when gone on vacation.

 

How big is your safe deposit box? How much is it per year?

 

I'm comfortable with a bolted down, fireproof safe.

The safe with guns and coins loaded weighs over a ton.

Your coins are where you can enjoy them.

 

I have 2. Both are free as long as you do stuff with the bank.
One is large and the other smaller....coins in one paper in other.

 

The best choice is the one you feel safest with.


RickieB

 

More true than most realize. It well not be those you see all the time, but people just have to talk, talk, talk. And what is really a mess is the human nature part of that talking where a dollar turns into ten, then hundreds, then thousands and up, up, up. If they see a safe, eventually your safe will possibly contain millions in Gold, Silver, Coins, Jewlery, etc. This is not just a possibility, it is a well known human nature habit. Eventually someone will hear of this and guess what. And remember at night not enough people around and those that are may wake up with a gun to thier heads. Not meaning to be pessimistic, but the best safety precautions are to keep your mouth shut. Silence is Golden.

 

Being a small collector I just have my own safe where I keep my collection. The idea of a safety deposit box only sounds appealing if you have a big collection and need more storage; I personally like to have my coins proximal so I can look at them from time to time.