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Safety Deposti Boxes
ricko
Posts: 98,724 ✭✭✭✭✭
This would be most upsetting... and some have lost coins.... Cheers, RickO
https://sacramento.cbslocal.com/2018/07/26/safe-boxes-stolen-drilled/
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Comments
That is hard to fathom .... the camera feed should show what actually happened don't you think?
I'd say safer to keep them under the foliage by my fish pond.......
Thank you Ricko for bringing the article up to share...
Wow! Scary to say the leased.
I fired BOA years ago. I want nothing to do with them.
The reporting in the article is not very investigative, in my opinion.
Banks can seemingly get away with anything.
If it's a salt water fish pond, you should bury the gold coins their to get that fantastic "natural" toning like the S.S. CA coins
from the article --- That’s where she kept her family’s jewelry and her dad’s coin collection
I keep my coin collection at the bank but prefer to take the family jewels wherever I go.
Sacramento......shocker.
I had seen this story. Scary. Why isn't the bank's management in cuffs for theft? It seems the drilling of safe deposit boxes and removal of contents is very tightly controlled. The story I read said that the incidents did not fall within one of the specific scenarios allowed by law. In some cases the contents were shipped to the owners, but in at least one other case the box and contents just "disappeared".
Hugh Woods offers VERY affordable insurance on safety deposit boxes and in-home safes.... just saying.
Here's the only solution that I'm aware of. They insure the box, only require the last two digits of the box number for the insurance policy, and you don't have to disclose any of the contents.
I believe that the product is patented. Not sure how this is patentable since I'm not a patent attorney.
FAQ: https://safedepositboxinsurance.com/faqs/
Pricing: (no need to create account) https://safedepositboxinsurance.com/purchase-coverage/
Obviously there is no way to replace irreplaceable items, but this is as good as it gets...and I'd wager that a bank vault is an order of magnitude safer from a theft perspective than almost any home vault.
There is one significant caveat in the policy exclusions: "Any criminal, fraudulent, dishonest or illegal act by any officer or employee of the financial institution whether acting alone or in collusion with others, unless such act is in connection with a robbery or burglary."
where in Ca. were the thieves cutting through roofs to get at boxes??
Well I guess in this case it's just a deposit box nothing safe about it. They have to have camera feed of that from but I guess some people don't go in there boxes for years so know they don't keep the tape that long
HAPPY COLLECTING
I wouldn't trust irreplaceable's to a crime syndicate; nor a bank...one in the same. No matter how cute their tellers are...
Sad.
Best to use obscure bank. Added advantage is that they "get to know you."
That would be devastating to lose coins and family heirlooms that you thought were safe.
Where I live we’ve had bank mergers and consolidations quite often.
Since so many bank online now our branch closed and we were sent a certified letter telling us that the boxes needed to be emptied by a certain date.
When looking for a new place to keep our valuables safe I went to one small bank that was renting “safe deposit boxes” that only required one key. They were in a public area with no place to examine the contents. To me that is the equivalent of a locker at a bus station.
We did find a local bank that had real boxes and they actually knew their customers.
It was a smaller regional bank that had community roots.
Still, I know that it could be bought out and have everything change. You have to be vigilant even after you think that you’ve done everything right.
Regardless how you store your coins/ valuables get insurance.
Bank of America and California.... That's already two strikes in my book.
This is clearly just a fake news scam trying to get people to dump more money into the Cali bubble
The bank has no obligation regarding the contents, but it does regarding access. In some cases, the inside of the box was treated as private property and the outside and vault were leaseholds of the Bank. If this is the case the Bank is potentially liable for all access, but not for what happens after the box is opened.
I check my sdb every month or two, and put certain things in certain places so I know if anyone else has been in there. So far so good.
Yikes, that's terrible !!!
Sad to hear. There are still some good banks out there that respect customers. Regional banks tend to be the most stable and have less employee turnover.
I am a skeptic by nature and I'm not sure I believe all the facts are there. Even though it was a local news feed, it is CBS. Remember who Dan Rather was ?
@keets
Best quote of the year!
I am getting my jewels out of BOA tomorrow and getting a better jock strap...…. or,
or maybe this is "fake news". LOL
57 Skeptic and shorecall have valid points.
My US Mint Commemorative Medal Set
With all the people who abandon storage units, I have to believe there are quite a few who forget to pay their SDB bills. I also think "Dad's coin collection" may have developed after the person noticed the problem. Dad's AG IHCs are now GEM 1877s.