Bank safe deposit box

I have a box at Wacovia bank for free and a box at PNC which I pay for.
Althrough your not to put coins and gems in the box everyone does.

Remember the movie Risky Business where Tom Cruise go's to the Bank safe box to cash a CD and in the box there are coins

 

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safe deposit box

i wish i only collect gold instead of silver before. so that everything that i have can be keep inside the bank safety box. use lesser space and don't have to worry about coin becoming tone.

 

Don't be so sure. Banks usually keep a fairly high relative humidity in vault areas to keep paper documents in decent condition. Most banks will tell you safe deposit boxes aren't ideal for storing metalic objects.
Guy~

 

gold

even gold coin we have to worry being tone?.

 

No, I don't believe gold tones. It may spot, however.
Guy~

 

Coleguy...
Quite the contrary...gold tones out to a magnificent dark golden hues...a really nice example is something to see.

RickieB

 

oh God

so we still have a lot to learn about gold coin?. tell us more. thanks......

 

i should have invest gold stocks instead of collecting gold coin. no storage, no toning, no unsafe worry, no mark up and so forth.

 

It's a must ,if you want to be safe,but be aware that if the bank gets broken into & your box is broken into ,they the bank do not have insurance on SD boxes.I asked the manger and was surprised to here that. The bank is a FDIC insured ,Savings Bank.

 

Depending on your relationship with the manager, you should get a discount or even free box.

 

Pure gold is one of the least reactive metals on earth, but our coins are not pure gold and the copper they are alloyed with will cause toning. For example:



This is an extreme case, but you get the point.

 

Not in NYC,waiting list to get a large safety deposit box @$135 a year,I shopped around & all savings & commercial banks in the NYC area (5 boroughs) all do not insure break in of SD Box Vault . You can buy a rider on you own insurance to cover the box in case of bank robbery of fire.But you must have receipts for every item in vault or appraisals for Jewelry.

 

If you have a mortgage at a bank they may give you a free box.

 

Maybe, but the bank will pay out nothing if the SD box is broken into.

 

not quite sure I understand your comment. Are you talking about RICO laws?

 

No, just information to SD box holders that they are not insured by the bank if your box is broken into.If you want the content covered for losses you must get your own insurance & have receipts for Jewelry & coins/bullion etc... or recent appraisals of Jewelry.
I was surprised when I asked the manager of the FDIC Savings Bank,he said SD box loses in all savings & commercial banks are not covered by the bank.

 

you are right connor1. jewelry and gold coin are not insure by the bank. we have to insure from outside with receipt.

 

I recalled reading this article a few years ago so I looked it up to share with this SDB thread, especially since connor1 mentioned the difficulty and costs New Yorkers encounter finding available SDBs in the city. This story also comes with a very interesting cultural notes regarding security, lifestyles, etc.:

Keeping luck under lock and key [The New York Times, July 8, 2005]

Also note the stunning number of boxes that were being installed compared to regular branches!

 

That was a very interesting story on SDB's in China Town.Brooklyn has it own little China Town on 8th.Ave in the 50 th St to 65th. street area,perhaps that is the reason for the run on SDB's. Many of the old residents are offered large sums of cash from Chinese people for houses & real estate still today,so it seems the practice of "cash & carry" still exists .

 

Many of the Greek immigrants in Astoria are 'cash & carry' folk too. Several years ago I lived in a small apartment in the home of a native born Greek woman. When I moved out I received my full security deposit in a rather large bundle of notes. I was surprised to be handed so much cash for such reimbursement since my past experience was usually done via personal or bank check sent in the mail later from the landlord.