Hypothetical: You've run out of room in your safe deposit box.
MrEureka
Posts: 24,416 ✭✭✭✭✭
How does that make you feel? What are you going to do about it?
I understand that this sounds like an inane topic, but I'm trying to understand the degree to which collectors allow storage constaints to impact their collecting habits.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Comments
New people in my area may be out of luck. Banks don’t have SDB availability and at some places the large boxes have been rented out for over 20 years. Bankers tell me SDBs are not a money making business for banks and they are trying to limit it.
One option is to do what some members do and pick up firearms as another hobby.
When I fill mine up I simply rent another. Got 2 monsters now.
Was fortunate about 6 years ago when the bank jacked the rental rates by 50%. I closed three of the four boxes and sold the sure bet contents.
I owe that bank manager a steak dinner!
I have 3.
1 for my stuff and 1 each for my bullion with each kid having key to 1.
Easy estate mgmt.
Get rid of all that mint packaging
I wish I had this problem.
"Got a flaming heart, can't get my fill"
It is time to get more selective.
Doesn't it make you feel all warm and cuddly knowing somebody else has the keys
This ......
Well, in my last two moves, SDB availability determined where I moved my bank accounts.
@ErrorsOnCoins has a valid point. "Get rid of all that mint packaging." How much is that all really worth? Wouldn't it be nice to collect just the coins? It would really be a space saver.
You only want to use a SDB for really valuable items - things "worth their weight in gold". If you are putting 1970's proof sets or modern commems in there, you need to do some re-evaluating.
I have 2 large SDB's that are full and almost too heavy to lift. Since I don't sell, I guess it's time for a third.
If mine gets full, I'll just buy a bigger bank.
bob
Yup, have 2 boxes, a big and a small. Both stuffed, another slab Will Not Fit, without taking something out. Sooo, buying very seldom and selectively, and when putting it away, something must come out and go home.
Liberty: Parent of Science & Industry
I remember somebody’s story on here about going to a bank with Eric P. Newman to look at something in a SDB. Eric signs in and gives the vault attendant a key and the attendant goes to one of the smallest size boxes.
The guy said “Gee, Eric, I just assumed you’d have a bigger box!” And Eric smiled and said “This box holds the keys to the other boxes!”
If slabs were 30% smaller, would you have more coins in your collection?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I think I should have named this thread "40 Million Slabs and PCGS Thinks We Have Room for More in Our SDBs???"
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Get a smaller SDB!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I moved from the blue PCGS slab boxes to the paper boxes. They hold around double the number of coins. This plus slowing down the buying has alleviated my SDB issues. I put the nice stuff in little slab bags to avoid any scuffing.
I did ask for a larger box and they laughed at me.
Size matters!
I would consider getting another/ larger box AND selling off some stuff, honestly.
>
Same number of coins, but probably more slabs. I crack most of my coins out to put in albums, capital holders, or safeflips.
Liberty: Parent of Science & Industry
Not kidding, this happened yesterday. Absolutely full at the moment. I eye the larger boxes in the vault with envy every time I go in.
My first choice mitigation has been to be on a wait list for an SDB at a different bank. It's literally been years that I've been waiting.
Selling is the only other thing I can think of. Don't want to make my home a target.
The solution is easy: Rent another safe deposit box. This assumes that the holdings that you have are quality coins. If it is common stuff or not important, I would sell off the widgets and dead weight and keep the rest.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
New bank branches in my area don’t even have boxes.
Convert silver to gold
That's crazy.
Like somebody else said, the banks aren’t making money on them. The megabanks have never come anywhere near full recovery from 2008.
@MrEureka
"Hypothetical: You've run out of room in your safe deposit box."
Seek professional help.
Cheers
Bob
Hidden compartment furniture helps.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
If brick and mortars are cutting basic services like that then they are largely expendable and can be replaced by online banks like Ally, Fidelity, etc. You can even scan your checks with an app and deposit them and use your debit card fee free at other ATMS.
I always liked the old ANACS holders and wished the other services had followed suit. I think you're on to something there.
The obvious New Jersey solution is to temporarily remove your box, then cut through the thin metal wall between your box and the adjacent one. Remove the adjacent box and dump its contents in the trash (except for valuables which you take to the local pizza place for an offer). Use the newly emptied box for your overflow, and reinstall both boxes, after welding the adjacent box door shut from the inside.
Simple, cheap and easy to do. Be sure to treat the bank staff to hot pizza, too!
/signed/ Louie "Il Torcia" Mangiattio
Another suggestion to free space in your safe deposit box is to move the in-laws into your house. That will probably relieve overcrowding and allow more space for storing all those valuable current US Mint products in special deluxe collector edition plastic holders.
Install a portal into the next parallel universe in the back wall of the box compartment.
Get rid of all those mint products
JMHO
ditch the Morgans, collect just half dimes. Keep them raw
I know the feeling, and then some! I had two boxes at my bank. They were almost next door neighbors, with only one box in between. And on that middle box was a red button, meaning it could be available sometime soon. I must have asked for that box a dozen times before I got it two years later. It was like playing Monopoly and finally completing my block.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Get another box, I know a jewelry dealer who has 27 boxes at 3 different banks.
Andrew Blinkiewicz-Heritage
Or get one of these:
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I've already done this. I have three or four file boxes in my basement full of just empty Mint boxes.
My concern isn't the full SDB box, but how damn heavy they get. I ain't getting any younger...
What I find interesting is that everyone seems to assume that the SDB is the only option to consider, to the extent of not considering other options. I was expecting to read some suggestions of switching to a home safe.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
I have space in mine.
Feel free to mail me all the stuff that will not fit, and I will store it for you.
You'd definitely have less money in your bank account, that's for sure.
I have roughly 150 slabbed coins in my collection. The bulk of the value resides in a single box of 20. I imagine most collections are the same. Just bring home the slabbed hole-fillers. Almost every set has a few.
Having a small size holder for smaller coins would be great to conserve space.
These holders feel tiny, much smaller than the ANACS small white holders. The coin in this holder is 27mm so it could fit quarters (24.26 mm) and possibly even half dollars (30.61mm).
This is a problem I will not have. My storage is at home....Safe and security system (layers). Initial expense, but after that, no cost, no worries, and I can enjoy my coins at my leisure. Cheers, RickO
I only keep the expensive stuff in a SDB. The rest is in Ft Knox. (well that's the name of the safe
) And just like the Ft Knox gold depository, I have secret security systems. However, the last line of defense isn't a secret and uses small amounts of the element Pb traveling at very high speeds.