Slightly OT...Safes?

Oldnewbie

I feel I need to purchase a safe as my collection is growing. I also have a three longarms and a pistol. I would like to store the firearms and the coins in the same safe. Question number one is, is it a bad idea to store coins with firearms? Can outgassing harm the coins? Question two is, is there a "combo" safe on the market that would work? I don't plan on buying any other firearms. Thanks.

airplanenut

I thought I heard that the oils/cleaners for guns can creat fumes harmful to coins... I don't know anything about guns, though, so I could be wrong

K6AZ

You don't want to store the two together. Pick up a small gun safe, and get a separate safe for your coins.

Coinosaurus

I'd recommend a bank box. It's the cheapest and safest insurance you can buy. You can always keep a few "cheapies" at home to look at.

Baley

a few days in your gunsafe while they're "home" won't hurt your coins but long term storage might.

I keep the coins at the bank deposit box most of the time and in the gunsafe while at home.

can't beat that bank box for ultra security and "nothing else in there but coins and important papers"

Oldnewbie

That makes sense. So, anybody know of a good coin safe that won't kill my coin budget?

DHeath

If you choose a fire resistant safe, the inner liner will store moisture, and changes in outside temp can cause condensation. I have two here at home, but won't use either to store coins.

idocoins

Please, just get a safety deposit box at your bank.......Don't keep the coins at home! The guns.....sure you might need them in a hurry but get the coins to the bank.

Oldnewbie

Whoops, I was in reply mode. So, everyone keeps their coins at the bank, eh? I think I might "jones" too much if I didn't have quick access. Any thoughts?

mrearlygold

No idea what your collection is worth but agree that you shouldn't store the 2 together . If your collection is significant, then you should consider buying a minimum TL-15 rated safe ( for the coins and other valuables) which will cost you more ( 1K for a cheapie and Up up up), get a proper alarm and contact Barb Wingo at North American Collectibles Association and get full insurance.

Then you can play with your coins whenever you like without having to deal with a bank. And be fully insured for burglary, armed robbery, fire etc etc.

Rgrds
Tom

idocoins

Oldnewbie..........take a picture..........leave the coins in the bank until you want to sell them

idocoins

<< <i>No idea what your collection is worth but agree that you shouldn't store the 2 together . If your collection is significant, then you should consider buying a minimum TL-15 rated safe ( for the coins and other valuables) which will cost you more ( 1K for a cheapie and Up up up), get a proper alarm and contact Barb Wingo at North American Collectibles Association and get full insurance.

Then you can play with your coins whenever you like without having to deal with a bank. And be fully insured for burglary, armed robbery, fire etc etc.

Rgrds
Tom >>



Tom, why would you want to put youself and your family at risk of an armed robbery in your house?

ElectricEye

do a search under safes ~ it's been discussed to death on the forums ~ plenty of incorrect information on the subject as well...good luck

Oldnewbie

Ok, sorry, I'll do the search.

mrearlygold

<< <i>

<< <i>No idea what your collection is worth but agree that you shouldn't store the 2 together . If your collection is significant, then you should consider buying a minimum TL-15 rated safe ( for the coins and other valuables) which will cost you more ( 1K for a cheapie and Up up up), get a proper alarm and contact Barb Wingo at North American Collectibles Association and get full insurance.

Then you can play with your coins whenever you like without having to deal with a bank. And be fully insured for burglary, armed robbery, fire etc etc.

Rgrds
Tom >>



Tom, why would you want to put youself and your family at risk of an armed robbery in your house? >>





Are you serious? You think it's safer going back and forth to the bank every day?

It's not.

Dis is da life we choose

Tom

idocoins

Every day???

Baley

every day?

some of us have to work!

it's a good month if I get to the bank twice.

mrearlygold

<< <i>Every day??? >>




It's dis ting of ours.

Tom

DesertRat

Me being in the insurance biz, here is some info you may not be aware of.

A typical homeowners policy will cover a loss of cash up to $250. A coin collection, unless it is appraised by an independent, approved (by your carrier) appraiser and insured under a personal article floater will not be covered for anything more than face value or $250 whichever applies. So your priceless collection of uncirculated coins would be a total loss in the event they are destroyed in a fire or other disaster should you not have the additional coverage necessary to protect you.

I had a friend who kept his collection of early gold in his motorhome. A Thanksgiving Day fire destroyed the coach and everything in it including his coins. He was able to retrieve most of the bullion (in this case melted gold coins), but was not able to be reimbursed the true value of the collection over the $250 limit.

Please protect yourselves and check your insurance policies and make sure you are covered. The cost of the riders necessary to cover your coins is not all that expensive when you compare it to the value of your collection.

I keep all my coins in the bank and only pull out a few pieces at a time when I want to play with them.

P.S. Same applies to jewelry except the limits are generally $1000 per piece and $2000 per claim.

This is California I am talking about so your state may vary

mrearlygold

Hence, Barb Wingo etc.

It's definitely an insurance specialty that everyone doesn't cover nor has a clue as to how to do so.

Barb does primarily dealers but I'm almost positive she'll do collectors if the requirements are met.

Tom

K6AZ

Tom, how do their rates compare to the ANA rates? What is the premium for each $1000 in value?

DesertRat

Rates will vary by state most likely. Insurance agents (of any type) must be licensed in each individual state where they do business. so rates in Los Angeles will vary from rates in Missoula or Bangor.

K6AZ

Last time I checked, my collection would cost over $100 a month to insure. I gave up on that idea and just kept all the valuable coins in the bank.

earlwbollinger

I would suggest a really good big heavy safe.
Put some lead weights and ingots in the safe and remove the wheels.
Store your coins under the bed in simple inconspiquous under the bed clothing boxes.
Put your really good coins in a safe deposit box at the bank.
Then when they steal the safe you still have your coins.
You can even brag about how hard it would be for theives to steal your safe.

DesertRat

I would suggest a really good big heavy safe.

Also a good idea to bolt the safe to the concrete of a ground level floor. Harder to carry the entire foundation out.

mrearlygold

Erik,

I have no idea about each 1K. I think that coverage for about 100K starts at around a 1,500 bucks or so a year and works it's way up. But I'm basing that on coverage which includes either fed ex or express mail insurance included at approximately 15K per package. You have to have a TL-15 or better rated safe and a proper alarm to have the burglary covered.

But it's all based on the individual etc. I started with her about 8 years or so ago when I just couldn't stand going back and forth to the post office and bank. Timewise it was consuming at least a day and a half per week in boxing stuff up and travel time. Not to mention how more and more reluctant my cohorts in the business were getting waiting for registered mail delivery.

To have the ability to ship next day, insure on the way back if needed, plus just throw the stuff in the safe and fohgetabout it was well worth the extra few hundred per year. The time saved alone made it almost dumb not to get it in my case.

She's in Carrollton MD

Rgrds
Tom

idocoins

<< <i>I would suggest a really good big heavy safe.
Put some lead weights and ingots in the safe and remove the wheels.
Store your coins under the bed in simple inconspiquous under the bed clothing boxes.
Put your really good coins in a safe deposit box at the bank.
Then when they steal the safe you still have your coins.
You can even brag about how hard it would be for theives to steal your safe. >>



And what do you do when they come in and put a gun to your head.

mrearlygold

You can even brag about how hard it would be for theives to steal your safe. >>




No it's better to just be quiet about what you do and have.

Tom

RYK

I have an Amsec 250 lb. fireproof safe at home, which is bolted (from the inside) to the floor in the basement

AND

insurance to cover the value of coins I keep at home, which is minimal, and generally the coins going to the bank

AND

a bank safety deposit box where the vast majority of coins are kept. I visit the box every six weeks or so, look at the coins, exchange coins from home to the safe, etc.

I think I have all bases covered.

idocoins

<< <i>You can even brag about how hard it would be for theives to steal your safe. >>




No it's better to just be quiet about what you do and have.

Tom >>



Tom one thing we agree on.........

mrearlygold

And what do you do when they come in and put a gun to your head. >>




You could choose to abandon all forms of wealth entirely, get a job as a government employee or something.

Tom

DesertRat

You could choose to abandon all forms of wealth entirely


You mean become a democrat?? oh wait... Kerry is a multi millionaire isn't he? never mind

mrearlygold

<< <i>You could choose to abandon all forms of wealth entirely


You mean become a democrat?? oh wait... Kerry is a multi millionaire isn't he? never mind >>





Actually you could follow and humble yourself to either one of the two lowlife monopoly parties and end up in that same space.

Or you could choose freedom and opt out.

Tom

ElectricEye

Anyone using a TXTL60 for their coin needs?