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Should I get a safety deposit box?
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<p>[QUOTE="calcol, post: 3299980, member: 77639"]Your collection isn't valuable enough yet to warrant a safety deposit box or really good safe. As it grows in value, a time will come when one of these is advisable. The debate over which goes back and forth. Having a safe at home gives instant access to the coins. A safety deposit box in a Federal Reserve/FDIC bank is very (but not completely) secure. No, the Fed and FDIC don't insure coins, but they do have minimum security requirements for member banks. Safe-deposit-only and non-member banks may have poor security. Private insurance that covers safe deposit box contents is relatively cheap.</p><p><br /></p><p>There is a wide spectrum of burglar susceptibility of safes. The cheapest will deter only an opportunistic amateur. The most expensive will slow down and occasionally defeat a pro. However, one thing is sure about a safe. If someone puts a gun to your head, you will open it.</p><p><br /></p><p>Neither safes nor safety deposit boxes are waterproof or smoke-proof. If you get a safety deposit box, it should not be near the floor. Safes should not be in basements unless contents are in waterproof containers.</p><p><br /></p><p>Plastic bags and Lighthouse Intercept boxes help prevent corrosion due to water, water vapor, hydrogen sulfide and other nasty gases. If you put paper or cardboard inside these containers, you may concentrate the hydrogen sulfide or other gases they emit.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 3299980, member: 77639"]Your collection isn't valuable enough yet to warrant a safety deposit box or really good safe. As it grows in value, a time will come when one of these is advisable. The debate over which goes back and forth. Having a safe at home gives instant access to the coins. A safety deposit box in a Federal Reserve/FDIC bank is very (but not completely) secure. No, the Fed and FDIC don't insure coins, but they do have minimum security requirements for member banks. Safe-deposit-only and non-member banks may have poor security. Private insurance that covers safe deposit box contents is relatively cheap. There is a wide spectrum of burglar susceptibility of safes. The cheapest will deter only an opportunistic amateur. The most expensive will slow down and occasionally defeat a pro. However, one thing is sure about a safe. If someone puts a gun to your head, you will open it. Neither safes nor safety deposit boxes are waterproof or smoke-proof. If you get a safety deposit box, it should not be near the floor. Safes should not be in basements unless contents are in waterproof containers. Plastic bags and Lighthouse Intercept boxes help prevent corrosion due to water, water vapor, hydrogen sulfide and other nasty gases. If you put paper or cardboard inside these containers, you may concentrate the hydrogen sulfide or other gases they emit. Cal[/QUOTE]
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