World Proof and Mint Set Book

A smart move not to rely on bank safety-deposit boxes for long-term storage.

 

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It would be great if you allowed downloads. I prefer to use my own PDF reader to read stuff like this.

 

1500 sets! I kneel before you. I was thinking at stopping at 100.

 

Why is this? Cost?

 

I keep my high dollar sets in my bank box. But first I prepare them for storage. I remove the coins and COA from the case or box. I then place in a bubble wrap mailer, seal and write the information on the outside of the package. I then place the packages in a plastic box with desiccant which will fit my safety deposit box. My bank box is 10X10X20 and my storage boxes are 6x6x9.25 so 3 fit easily with room on the top and sides for other items. The empty cases and boxes for the coins are stored at home. I keep the contents of each box recorded on a spread sheet so I know where each items is.

 

There is a troubling paragraph in the Code of Federal Regulations, and until someone with authority tells me what it means, I'm not inclined to keep valuables in a safety deposit box; papers and memorabilia, yes -- valuables and/or collections, no.

And for people who like to argue, don't argue with me, argue with your Congressman. That's what he gets paid for.

31 CFR 515.326 - Custody of safe deposit boxes.

§ 515.326 Custody of safe deposit boxes.
"Safe deposit boxes shall be deemed to be in the custody not only of all persons having access thereto but also of the lessors* of such boxes whether or not such lessors have access to such boxes. The foregoing shall not in any way be regarded as a limitation upon the meaning of the term custody."

I'd also like to know the effect of a Declaration of Martial Law (or an Executive Order) upon your original agreement with the financial institution renting the box.

*banks and credit unions.

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Regarding cost, I found that the Credit Union I selected in 2012 charges less than half as much for a box as my big, multi-state bank does.

 

The asylum is being run by the lunatics but I wager such language is merely to reflect the fact that the vault and the place of the box still belong to the institution that owns it. This gives them some specific rights such as that you don't have a meth lab in it or laundered money.

Of course the bank can confiscate your collection and claim this law gives them clear title to it but then you'll have to hire a lawyer to dispute this.

I'm a little fatalistic on these issues now days anyway. You have to sign away your rights and your first born just to get on line and posting. We don't even own the coins in our possession since the mint limits what we can do with them. The banks steal all the interest on your accounts so the big shots can be wealthy so why should it bother me that the documents say the box belongs to someone else?

The bankers won't be able to rent vault space the moment they start confiscating boxes.

I figure that at least with SDB's no one will come to my home and shoot me after I open a safe. All my coins that have any value are in SDB's. I don't keep a lot of junk. Yes, it's costly and I don't get to see my collections often but it is peace of mind.

 

This is what I do as well. Periodically though I throw away packaging because it becomes unnecessary. Sometimes I wish I had kept it because I see people offer large amounts of money fort the empty packaging.