Question Re Safety Deposit Boxes

Elcontador

I currently have 2 small ones & for the same price, can get a larger one with 50% add'l capacity. Most of what's in these boxes are slabbed coins, along with silica gel packets. The less expensive coins are in the box with important papers, like the grant deed to my house, etc.

Is there a problem putting these important papers in the same safety deposit box with the more expensive coins in my collection?

gemtone65

Jeff: I don't see that there would be a technical problem. The silica gel shouldn't damage the papers; the papers won't affect the coins. The only other potential problem I see is one of privacy. If you are the only one with access, it doesn't matter. But if you share access, and want to keep confidential the identity of certain assets, such as your coins, then obviously 2 boxes (and perhaps 2 different banks) is the answer.

Conder101

The only concerns hat I have are 1.) paper likes a higher humidity level than coins do. Too low a humidity can cause paper to become brittle and crack or crumble. To high a humidity can accelerate toning or other problems with coins. 2.) Paper, especially wood pulp based paper is high in sulphur which can cause toning. In both cases the slabs that your coins are in should slow any degradation so then the question is do you want to risk it?

MadMonk

I like two boxes!

You should also have insurance on the coins.

I particularly like the idea of two boxes at differant locations, one for important papers,
another for coins.

Never keep the coins receipts with the coins.
In a worst case scenario....say the bank is robbed, the crooks start popping open safe deposit boxes, they are going to dump, and run. So, now all the paper work is with the coins.

Elcontador

Thanks for the responses. As a CPA, my records re purchases are kept in a separate location from the coins (it's from my auditing days re internal control systems work). I am the only one who goes into the safety deposit boxes. What are your feelings re putting the papers in a larger box with the coins if I had a layer of saflips separating the paper from the coins? Does it make a difference?

Ryana