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"Safe Deposit Boxes Aren’t Safe" (NY Times article)
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<p>[QUOTE="myownprivy, post: 3622942, member: 84588"]It's important you pick a bank whose maximum liability covers up to the value of the contents of your box. Some banks have now lowered that liability to only a few thousand dollars. It won't be easy to get the bank to cover their mistake, but you can count on them NEVER covering their mistake if their terms of condition limit their liability to a small amount of money. So, pick a bank with a higher max liability.</p><p><br /></p><p>It's important to check your box regularly, like at least every few months. </p><p><br /></p><p>It's important to have some piece of ID in the box. </p><p><br /></p><p>Take this report with a HUGE grain of salt. How many safe deposit boxes are accessed improperly? How many are seized accidentally? Compare that to how many home robberies occur. Where do you think your bullion is the safest? A safe deposit box is still far safer than your home.</p><p>The answer: don't tell anyone besides your immediate loved ones that you even own it and store it in multiple locations: bank safe deposit box and another location (home).[/QUOTE]</p><p><br /></p>
[QUOTE="myownprivy, post: 3622942, member: 84588"]It's important you pick a bank whose maximum liability covers up to the value of the contents of your box. Some banks have now lowered that liability to only a few thousand dollars. It won't be easy to get the bank to cover their mistake, but you can count on them NEVER covering their mistake if their terms of condition limit their liability to a small amount of money. So, pick a bank with a higher max liability. It's important to check your box regularly, like at least every few months. It's important to have some piece of ID in the box. Take this report with a HUGE grain of salt. How many safe deposit boxes are accessed improperly? How many are seized accidentally? Compare that to how many home robberies occur. Where do you think your bullion is the safest? A safe deposit box is still far safer than your home. The answer: don't tell anyone besides your immediate loved ones that you even own it and store it in multiple locations: bank safe deposit box and another location (home).[/QUOTE]
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