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<p>[QUOTE="calcol, post: 2466317, member: 77639"]I echo the advice that expensive coins should be in a safe deposit box at a bank. A few words of advice about safe deposit boxes. First, I recommend getting a box at a branch of a large regional or national bank. Although the agreement you'll sign says the bank has no responsibility for loss, a large chain is still likely to pay off in the event of a burglary or casualty loss if the coins are well documented (sales receipts and pics). A large chain will have the resources to pay and will want to avoid the bad publicity from failure to pay. A large chain is more likely to have good construction and a security department that oversees construction and ongoing security procedures. Do not use a safety deposit box company that is not also a bank in the Federal Reserve system. A bank has the extra security incentive of having their own cash and records stored in the vault. Although FDIC does not insure box contents, there are security requirements that the Fed and FDIC demand of member banks.</p><p><br /></p><p>All bank vaults have impressive steel doors. Usually the floor is reinforced concrete and the walls as well. The ceiling in some vaults is just insecure roofing materials or floor materials of the story above. You should verify reinforced concrete all around.</p><p><br /></p><p>Neither vault doors nor deposit boxes are waterproof or smoke-proof. Your box should be at least 2 feet (60 cm) above the floor in case of minor floods like a burst pipe in the building. Most coin slabs are not waterproof. If you want to be extra safe against liquid or gaseous hazards, put slabs in sealed polyethylene plastic bags (I don't).</p><p><br /></p><p>The vault should have a secondary door that is kept closed and latched except when an employee is in the vault. Typically, this will consist of steel bars in a frame ... strong, but see-through. Customers and non-employees (e.g. repairmen and locksmiths) should never be in the vault without an employee present. There should be no hiding places in the vault. Two hiding places that have been used by burglars are suspended ceilings and "dead corners." Dead corners are where two banks of boxes come together at a corner with a hollow space between them. Dead corners are OK if the box banks extend all the way to a reinforced concrete ceiling. There should be one or more private rooms near the vault where you can take your box to work on it.</p><p><br /></p><p>No bank employee should have your key out of your sight. No one who is not an employee or hasn't been properly signed-up should be allowed in the vault, its entrance area, or the private rooms. Non-employees should always have to sign for each entrance to the vault area, and ID should be required unless an employee knows the person. A group of coins can be heavy, and you don't want an employee to drop the box. I've put a "heavy" sign on my box, and the employees always let me remove and replace it in its slot.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2466317, member: 77639"]I echo the advice that expensive coins should be in a safe deposit box at a bank. A few words of advice about safe deposit boxes. First, I recommend getting a box at a branch of a large regional or national bank. Although the agreement you'll sign says the bank has no responsibility for loss, a large chain is still likely to pay off in the event of a burglary or casualty loss if the coins are well documented (sales receipts and pics). A large chain will have the resources to pay and will want to avoid the bad publicity from failure to pay. A large chain is more likely to have good construction and a security department that oversees construction and ongoing security procedures. Do not use a safety deposit box company that is not also a bank in the Federal Reserve system. A bank has the extra security incentive of having their own cash and records stored in the vault. Although FDIC does not insure box contents, there are security requirements that the Fed and FDIC demand of member banks. All bank vaults have impressive steel doors. Usually the floor is reinforced concrete and the walls as well. The ceiling in some vaults is just insecure roofing materials or floor materials of the story above. You should verify reinforced concrete all around. Neither vault doors nor deposit boxes are waterproof or smoke-proof. Your box should be at least 2 feet (60 cm) above the floor in case of minor floods like a burst pipe in the building. Most coin slabs are not waterproof. If you want to be extra safe against liquid or gaseous hazards, put slabs in sealed polyethylene plastic bags (I don't). The vault should have a secondary door that is kept closed and latched except when an employee is in the vault. Typically, this will consist of steel bars in a frame ... strong, but see-through. Customers and non-employees (e.g. repairmen and locksmiths) should never be in the vault without an employee present. There should be no hiding places in the vault. Two hiding places that have been used by burglars are suspended ceilings and "dead corners." Dead corners are where two banks of boxes come together at a corner with a hollow space between them. Dead corners are OK if the box banks extend all the way to a reinforced concrete ceiling. There should be one or more private rooms near the vault where you can take your box to work on it. No bank employee should have your key out of your sight. No one who is not an employee or hasn't been properly signed-up should be allowed in the vault, its entrance area, or the private rooms. Non-employees should always have to sign for each entrance to the vault area, and ID should be required unless an employee knows the person. A group of coins can be heavy, and you don't want an employee to drop the box. I've put a "heavy" sign on my box, and the employees always let me remove and replace it in its slot. Cal[/QUOTE]
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