"Safe Deposit Boxes Aren’t Safe" (NY Times article)

Choke!

 

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NY Times article requires me to register? Oh well, I'll just make up my own version.

 

My insurance rate for my collection was cut about 40% when I moved my stuff to a SDB at a reputable bank. The insurance people also had a list of approved banks.

 

I think they have a limit every month that you can view for free or something. I have it saved as a PDF.

 

You are all such old fogies. You need to use multiple web browsers because each gives you 10 free articles. Repeat on another device. It's very easy for those 10 free articles to become 40.

 

I don't even get 1 free article.

 

If I were interested, I’d simply register and PAY to read their articles. What you suggest is not exactly what a gentleman would do... or how are newspapers supposed to survive today?

 

I don't like signing up for stuff either. Even when the content is free.
I can refresh the page and read a paragraph before it disappears, and do this
3 or 4 times.
I had a safe box for a number of years in Colorado. It was inexpensive, I kept valuable coins and paper documents, but it was inconvenient. I don't have one anymore. I have the Raiders of the Lost Arc final warehouse scene in my garage. Millions of boxes of junk everywhere.

 

I quit using my SDB because of the reasons listed . 90lb Rated Sentry Fire/Flood is in living room . It's heavy with coins so isn't easy to walk off with bu

 

Have a safe in a not obvious location. Bolted to a support beam. Need another with all the wife’s jewelry. Heavily armed and both of us know how to use them and she’s an excellent shot. She’s a Texas farm girl anyone who breaks in when we’re home can wait for the sheriff or the coroner. And have neighbors that would notice unusual activity when we’re not. And a couple are retired so not at work. I have a canine alarm system too. A few barks of a not small sounding dog scares a lot of people too. Even though he’s friendly to everyone to the point of being annoying I don’t trust banks any more than I have to especially in this day when one computer click can freeze or wipe out your account. And I don’t trust The government or most people hardly at all. Why I want my stuff close at hand just in case

 

I didn't need to read any article .
I've known for years, about these boxes not being protected ...

Don't believe in banks, and never will ..
I'm heavily armed, and I will blow your head off your shoulders .

That's what the note, says on my outside doors .

 

I highly recommend security cameras and Ring doorbells at every door. You get a wireless Ring doorbell for $150 and you'll be mad you didn't get one years ago.

Don't know how many times I've gotten alerts on my phone, opened the app and talked to someone standing at the door whether they pushed the button or not. (motion alerts you too.) $30 a year for cloud storage with it is cheap insurance as well. There's a reason Richard Bronson paid a billion dollars to buy out the original company. Every single household in America should have one by now.
Keep the door locked and look on your phone to see who's at the door and press the green button to communicate with them whether you're laying in bed,at work or anywhere in the World. FedEx and UPS will always push the button and walk away to let you know they dropped off a package as well. The battery lasts for 6 months then you plug it in and recharge it in 40 minutes. Camera quality and coverage is excellent.

 

Some guy around here put up a sign saying "If you trespass on my property I will shoot you". Cops came and arrested him for making threats and while he was in jail his house was robbed and all his guns were stolen along with other valuables. Since he seemed to have bought the guns illegaly he could not get his insurance to pay and since the cops found out about these illegal bought guns they filed other charges against him. Poor guy had to move because he became the laughiIf your going to shoot somebody don't advertise it.

 

oh, I get it ... it just looks like it .. and not the actual stuff from the movie.

 

we've chatted many time about safes and coin storage.
Store your coins in tupperware or glass jars, etc to prevent water damage and what's in the air - humidity, pollution, etc which varies depending upon where you live.

I "water proofed" my safes as much as i could but I just stopped as the seal I would put around the door would need to be rechecked every time I opened it. I also sealed the holes into the safe - bolt down holes and the lock/screw holes .. all a PITA. The tupperware or whatever containers makes it much easier.

 

After reading the NY Times article I thought it wise to insure the contents of my safety deposit box, so filled out the online application of the insurance company mentioned and provided funding. They emailed that coverage would commence the following day at 12:01 a.m. However, for an unknown reason (the insurance company did not notify me of one) coverage is not in effect, nor was my bank account charged. In retrospect it is probably good because the policy exclusions are numerous, including many that one would assume a policy should not have. To wit:

- Mysterious disappearance. (aren’t they all)

- Any criminal, fraudulent, dishonest or illegal act by any officer or employee of the financial institution whether acting alone or in collusion with others, unless such act is in connection with a robbery or burglary.

- The drilling or forcible entry into the safe deposit box or other seizure of the covered property by the financial institution or an agent or subcontractor thereof.

 

What horrible place is that not like that here sheriff said if you shoot em drag em inside the door as it makes our job a lot easier

 

Wow, great article.

You HAVE to visit the safe deposit box monthly or at least quarterly. You can NOT go years without opening it.

 

Nothing on the face of the earth is 100% safe. Safe deposit boxes aren't perfect but are definitely safer than anything you can practically have at your home. The "OMG I better get my stuff out of there immediately" is unreasonably alarmist. I've had a box for years and nothing in there has ever been touched by anyone but me. That being said, check your box frequently. I'd say at least once a month.