Yet Another Safe Thread

Discussion in 'Coin Chat' started by Randy Abercrombie, Jun 22, 2022.

  1. -jeffB

    -jeffB Greshams LEO Supporter

    And if your house doesn't catch on fire, anyone else with a fireman's axe can do the same, with no particular rush?
     
    Grass Man likes this.
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  3. Grass Man

    Grass Man Member

    Youtube has a number of videos of safes being cracked open. It's scary.
     
  4. calcol

    calcol Supporter! Supporter

    Yeah, best things about a garage is that it's convenient for loading/unloading heavy things, and floor is smooth and can support heavy things. If there's a fire and when the fire dept or police get there, you won't be allowed near your house until they think there's no danger. If the fire involves the garage, it will be deluged with water.

    Cal
     
  5. Clawcoins

    Clawcoins Damaging Coins Daily

    My old jewelry safe that I had in my last house, with an attached garage with a room built up with heating & a/c the safe was fine. As it was UL safe.
    upload_2022-6-27_4-11-46.png
    But in the new house the garage was separate and would frequently get flooded in heavy rains. It was way too heavy to put in the basement.

    A lot of modern homes appear to have connected garages, or houses directly built on and around the garages.

    I don't miss that safe. I really do like the modern electronic locks now. As long as you get a certified electronic lock.
     
  6. montynj3417

    montynj3417 Active Member

    You know the old saying: "Safes are to protect you against honest people. If you've got dishonest people around, it'll require a little more thought>"
     
    Jim Dale and Randy Abercrombie like this.
  7. montynj3417

    montynj3417 Active Member

    Even in a flimsy, wooden house, if a guy with a torch brings a supply of rags that can be soaked in water (or if your drapes are handy!), the risk of fire is way decreased.
     
  8. Gilbert

    Gilbert Part time collector Supporter

    If you need to view your coins then why not take photos and put the higher cost coins in a safety deposit box. And have insurance!
     
    Good Cents and calcol like this.
  9. Hommer

    Hommer Curator of Semi Precious Coinage Supporter

  10. benveniste

    benveniste Type Type

    Personally, I'd pay to have that lock swapped out. Not because I think that digital locks are inherently insecure, but if someone were to target you, posting this photograph has made their job easier.

    You can view Securam's UL certifications here:
    https://securamsys.com/wp-content/u...y-Electronic-Locks-Type-1-_-UL-Product-iQ.pdf

    The biggest danger with electronic locks is the same as any other combination lock -- writing down the combination where thieves can find it.
     
  11. Good Cents

    Good Cents Well-Known Member

    Does nobody bury their stuff in the back yard anymore? ;)
     
    wxcoin likes this.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Joke's on you, it's buried in the crawlspace. :rolleyes:
     
  13. TheFinn

    TheFinn Well-Known Member

    That works great unless the bank goes under. Look at what’s happening in China.
     
    Good Cents likes this.
  14. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Or Canada.
     
  15. benveniste

    benveniste Type Type

    In the US, if a bank "goes under," the impact on the safe deposits is minimal. The FDIC comes in and closes the bank for 2-3 business days, and the it reopens new management. So all that happens is that you lose access to the box for a few days.

    That said, during the COVID shutdown, if I wanted access to my safety deposit box I had to make an appointment which could take a week to schedule. It's also worth remembering that contents of safe deposit boxes are not insured by the bank.
     
  16. Gilbert

    Gilbert Part time collector Supporter

    Exactly, hence safety deposit box insurance.
     
    Good Cents likes this.
  17. Good Cents

    Good Cents Well-Known Member

    Any recommendations on where to get that?
     
  18. Good Cents

    Good Cents Well-Known Member

  19. Gilbert

    Gilbert Part time collector Supporter

  20. TheFinn

    TheFinn Well-Known Member

    Anyone with a box is a creditor of the bank, and contents of safe deposit boxes are the property of the bank with the bail-ins instigated under Dodd-Franks.
    Have you read the contract for opening a box carefully?
     
  21. Good Cents

    Good Cents Well-Known Member

    The courts will not give the contents of the safe deposit boxes to the failed bank's creditors. That said, if your bank goes under, it's probably a good idea to clear out the contents of your safe deposit box and find another one. Or you can wait to find out if another bank will take over that location, which is what usually happens. The court administering the closing of the defunct bank will mail you a notice informing you of your deadline for clearing out your safe deposit box. It will not take the contents even if the bank goes under.
     
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