Collection Protection

itsnotjustme · February 9, 2003 5:43AM

With the thread on the Registry Set Board about a major collection stolen, I thought this would be a good time to post a thread about keeping your collection safe.

Here are some things I do (some to a greater extent than others) to keep my collection safe:

Use discretion in who you tell about your collection.
Keep your coins in as safe a location as you can (Secure home safe, safe deposit box, etc)
Don't tell people where you keep your coins.
Insure your collection against all forms of loss, including in transit.
Keep accurate records of purchase prices, grades, cert numbers, etc
For better coins, keep a scan of the coin & holder.
Keep a safe copy of your records (I burned a copy of the scans and spreadsheets to CD, and mailed to my brother's house)
Always ship fully insured. Use registered mail for over $500 value.

I'm sure people can add many more ideas to this list.

KlectorKid · February 9, 2003 5:45AM

Dont forget to close your safe.... (done that) Although nothing was stolen!

LucyBop · February 9, 2003 5:47AM

Keep a loaded 38 just waiting for someone!

jbsteven · February 9, 2003 5:51AM

i have insurance that specifically covers collectables (coins). no need for a detailed inventory just a blanket amount that is covered. It costs .25% of 1% per year

50,000 coverage is roughly $200 a year.

great piece of mind.

Russ · February 9, 2003 5:57AM

<< <i>no need for a detailed inventory >>

Even if one has adequate insurance, a detailed inventory should be maintained. It would be helpful in trying to catch the lowlife scumbag sub-human excrement that perpetrated the theft.

Russ, NCNE

morganbarber · February 9, 2003 7:13AM

Regardless of whether you are rich or poor or own coins or not, I strongly suggest keeping a couple of "intercept shield" canines around.

jbsteven · February 9, 2003 7:22AM

I had a feeling I would get some PM's about the insurance.

here is the info:

Collectibles Insurance Agency
888-837-9537
www.collectinsure.com

it really gives me piece of mind on my coins at my home.

jason

Flash · February 9, 2003 11:13AM

50,000 coverage is roughly $200 a year

That seems awfully cheap compared to other insurance providers. Do they have a track record? If a loss occurs, will they fight to their last breath to avoid paying on the claim? What do they require as proof of what your collection consists of?

Neptune · February 9, 2003 2:21PM

Yes, I would also be interested to know how long you have been using this company, and any other info you may have about them.

thanks!

Trime · February 9, 2003 8:48PM

I can not image payment on loss without an itemized list of lost items and value documentation.
What is the rating on this insurance company?

jbsteven · February 9, 2003 9:13PM

the insurer company is Hartford. up to I believe $50,000 they do not require a inventory. I have not had a claim so I cannot comment on that part.

take a look at their website or give them a call. They advertise in CoinWorld, that is where I found them 6 months ago.

ccrdragon · February 9, 2003 9:20PM

The other thing that most people forget about is to talk to thier kids and make sure that they are not blabbing it all over the neighborhood and the schools! My kids know that I collect coins, but they also know that the collection (with the exception of a few pieces) is kept at the bank in the safe deposit boxes.

I also have dogs and large guns in the house (and both my wife and I are not afraid to use them)!

ScarsdaleCoin · February 10, 2003 12:18AM

forget the 38 I recommend a pump shotgun....seriously make sure you have the right kind of safe....there are two types buglar and fire...the problem with a fire safe is that it traps mosture inside which can lead to damage to coins....

Dog97 · February 10, 2003 9:01AM

BE AWARE! BE ALERT!
Be aware of & pay attention to strange cars in the neighborhood and unknown people walking down the road. If we see strangers in the area we ask them what they're doing and give them a ride on down the road if I have to. If somebody stops to ask for directions or to use the phone go out in the yard & talk to them or take them a cordless phone or cell phone. Flip your shirt up so they can see the pistol in your waistband. DON'T LET THEM IN YOUR HOUSE!!
I always keep a barking dog loose in the yard as an alarm. I have no faith in alarm systems or the people who monitor them.
Since cracktown moved in murders, burglaries and robberies are way up where I live and the crackheads & oxycotin weirdoes are getting very bold.

Higashiyama · February 10, 2003 9:21AM

That's scary -- even in Alabama!

marcmoish · February 10, 2003 11:39AM

Jon, I thought that stuff they sell in the silver canister keeps moisture out of the safes? whats up?

Russ · February 10, 2003 11:45AM

<< <i>oxycotin weirdoes are getting very bold. >>

What is oxycotin?

Russ, NCNE

RYK · February 10, 2003 11:56AM

Oxycontin--it is a prescription narcotic taken by mouth (for cancer patients, chronic pain syndromes, etc) that the street druggies have taken a liking to.

RYK · February 10, 2003 11:59AM

And regarding fireproof safes, is the use of a dessicant adequate to protect one's coins from the inherent moisture that builds up within the safe?

Android · February 10, 2003 12:06PM

<< <i>What is oxycotin? >>

Oxycontin is synthetic morphine, and about 10x more powerful than organic morphine.

Andy

Collection Protection

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