Half Million Dollar Coin Collection Stolen From Home Safe

I have a philatelic collection that's valuable. Here's how I have handled it..

1) I have scans of every item I own, front and back.

2) Copies of (And Scans of) receipts for every item that I bought. Most were purchased from either well known dealers or from well known auction houses, anything bought on, say, eBay (1-2%) has a printout of the listing.

3) Every 3 years or so the collection is re-appraised. If you have a collection worth a lot, you have it professionally appraised, it's money well spent.

4) It's locked up in a safe deposit box.

But it's a more difficult thing to steal, I collect covers (Entire envelopes), all of which are unique, so a photo can identify them... try identifying YOUR 1881 Morgan Dollar in MS63.

 

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Hope they catch the b------s who did it , hope he gets his coins back too , but like others already said he did a no. of things wrong , that many coins worth so much , you leave most in a safe deposit box , and some at home in a safe , insure them . With a safe that big put another one inside , imagine the look on their faces after spending hours torching their way through , then they find another one inside , that would be a must see on the internet .
rzage

 

Feel sorry for him but have to agree the logic just isn't there... How can you not better protect something that valuable?

 

The article stated:

 

This is very important. An old time collector-dealer-friend died more than a decade ago. His family was throwing out a bunch of his currency catalogs. The cartons of catalogs were on the street ready for trash pick up when another friend saw it & rescued it from the trash. The books themselves were quite collectable & rare. There were also pieces of currency stored in various pages of the books. Make sure your family knows where everything is!

Very best regards,
collect89

 

Does normal home owners insurance cover a coin collection?

 

I'll tell you one better. There was a bank that brought a building where I had a retail IT client. I ran his network and computers and such in his storefront. The bank moved in and build itself out and moved him from above the bank to aside the bank for security reasons. However the bank and his store shared a basement and he had walk in access to the vault from the basement.

Ruben

 

you has no need for a yearly assessment by a third party of list of coins? They just took your word for it when you were robbed?

Ruben

 

Depends. There is a limit unless you include it as an itemized item.

Ruben

 

ANA insurance sounds great! My AAA regular homeowners policy covers up to $2K in collectables. It is usually found in the area where they discus furs, jewelery, paintings etc.

 

Read your policy. To be covered you may have to declare your coins before a loss.

 

OK, thanks Hobo.