Realistically.... When Does a Coin Collector Say....
Jimnight
Posts: 10,846 ✭✭✭✭✭
It's time to get a safety deposit box... instead of keeping valuable and rare coins in a secure safe, in your home or business ??
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when they feel it's needed to get a SDB
Coins for Sale: Both Graded and Ungraded
https://photos.app.goo.gl/oqym2YtcS7ZAZ73D6
When the inconvenience of the box is worth it compared to the possibility of loss.
You have to set your own willingness to lose, plus if it's insured your carrier won't think much if they're just stacked on your dresser. I got mine on this round of collecting, about 10 years ago. I'm now faced with getting more.
The problem with SDBs are when you REALLY, REALLY need to get them open, you might not be allowed to.
If you are worried about it, it's time to get one.
When they repeal the second amendment.
@CCGGG said:
When they repeal the second amendment.
I hear ya! and agree.
It's not bad to have multiple secure locations
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Separate the question of financial loss from safety. Hugh Wood will ensure the coins in home for moderately more than if they were in a safe deposit box. So you can insure against financial losses without a box. If your coins are irreplaceable then just get a box.
With regard to safety having coins out of your home, out of the site of visitors and well meaning family members just reduces the risk of home invasion.
Latin American Collection
i think nows the time to get one. hopefully, the bank wont shut down and you cant get to it.
They are not so safe. Ask my banker when a crew cut through the top of there vault and took everything in the SDB.
and the Feds knew about it and told no one because they said if they told some of the banks in town the crew will stop hitting banks and wont get caught if they make a mistake, the FED's don't insure anything in SDB so they don't need to pay for any losses.
Hoard the keys.
Just buy yourself a bullet proof 1940 something jewelers safe. At that point your all good. But to make it even more secure get yourself a little dog with really big radar dish ears and a hand cannon, like a .45 Kimber like I have, to keep the all riffraff out. I’m also covered with cameras all around my house.
If you still feel uncomfortable with all a this going for you then it’s time for the SDB.
And if you want to really feel safe, have a moat dug around the perimeter, patrolled by hungry crocodiles!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
These threads always bring out the macho men who just need guns and guts. Walking around a coin show doesn’t give the same impression of the self defense capability of those in this hobby. Get a SDB and worry less about someone harming your loved ones.
Latin American Collection
You think it's just money, coins, and graysheets in all those briefcases and bags?
Collector, occasional seller
Here is how I decided.
What if some "bad guy" figures out that you are a collector. You live in a nice house in a nice neighborhood. What if that bad guy cases the place and decides to use the element of surprise to invade your castle? Sure, the dogs will make noise, but they are not a deterrent to a pro. Similarly, any firearms I might have could be a benefit but might not be. What if the bad guy takes a family member hostage on the front lawn and marches them into the house and demands $$ and coins with a gun or knife to their head? Very few have the training and ability to handle that situation.
I decided to put the valuables in a SDB and sleep a little better. Coins, watches, and little worn jewelry are all in there with the important papers. But even that doesn't really deter the bad guy because he doesn't know that. Therefore I have a small number of holdered coins in PCGS boxes - not expensive but shiny cameo state quarter proofs ought to be valuable right? That, plus a couple of hundred in cash gives me something to give the bad guy in hopes he will make a mistake or just grab the loot and run.
I'd be interested in specific feedback on what others do. Of course, I have not revealed all my secrets.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Boosibri - I think you would be quite surprised by the number of dealers and attendees that have something (or two) to protect themselves. When I used to set up in Charlotte, I was amazed at the number of dealers with a firearm. They convinced me I ought to have one as well. Security is usually adequate at the venue, but you still have to get in and out, and back home. That is when you are most vulnerable.
Having said all that, I would much rather avoid a confrontation or gunfight than get killed over a bunch of coins. But sometimes you have to do what you have to do.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
If you are asking that question, it is time.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
Having a gun and having a SDB are not mutually exclusive.
Latin American Collection
@Cameonut
The "free" cash 'laying around' has always been one of my layers of defense.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
These threads pop up about every four months or so. I do not use an SDB. I have a very secure home - with several layers of security. I am a highly trained individual in firearms, security and tactics as well - and yes, I am also an instructor. I enjoy my coins and having them accessible is important to me. If that changes, well, then it would be time to liquidate. This has nothing to do with being 'macho', and everything to do with being independent and capable. Of course there are those who will always put forth scenarios in which one could lose.... sure, and the space station may land on my house (possible, but highly improbable). Nothing is perfect... as noted, banks can be robbed or destroyed in an 8.6 earthquake or flood. I choose to live my life as a capable, competent individual, aware but secure. Cheers, RickO
@topstuf How did you get a pic of @ricko 's abode?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Actually, there should be a narrow window on each side on the second floor there....Cheers, RickO
Trust me when I say a gun makes ME feel very comfortable. Hey I have a carry permit and that makes me feel even better. The dogs are not so much of a deterrent than they are a wake up call that somethings up. I’m pretty sure I can take care of the rest.
But beyond that I’m pretty sure if some bad guy knows that you collect or sell valuable coins and bullion will you have a sign in front of your house telling the world your coins are in the SDB at the bank? Arm yourself, it’s the American way
Happy hunting, Joe