Is it OK to open your safe deposit box while the clerk is in the room?

Longacre · November 28, 2005 5:34AM

Whenever I need to go to the safe deposit box to put a new coin purchase in, I always seem to have the full complement of troops with me (i.e., my little munchkins). In order to save time while I am chasing them around the bank vault, I usually tell the clerk to "wait right there; this will only be a second" while I slip the coin into the box. I usually try to palm the slab so the bank clerk can't see what I am doing, but the last time she was clearly looking at me and easily saw that it was a coin and my box had a bunch of other slabs in it. Do you think this is an issue? I don't think it is a big deal in terms of the box, but I wonder if I can get visited by this clerk's "friends" at home while I am not there. What do you think?

mgoodm3 · November 28, 2005 5:38AM

The always walk out of the room when I'm there.

keets · November 28, 2005 5:39AM

personally, i think your paranoia rivals that of the members who feel that having coin images on their checks is a security risk, but i guess we each need to take precautions which we deem necessary.

HonoluluDude · November 28, 2005 5:44AM

<< Whenever I need to go to the safe deposit box to put a new coin purchase in, I always seem to have the full complement of troops with me (i.e., my little munchkins). In order to save time while I am chasing them around the bank vault, I usually tell the clerk to "wait right there; this will only be a second" while I slip the coin into the box. I usually try to palm the slab so the bank clerk can't see what I am doing, but the last time she was clearly looking at me and easily saw that it was a coin and my box had a bunch of other slabs in it. Do you think this is an issue? I don't think it is a big deal in terms of the box, but I wonder if I can get visited by this clerk's "friends" at home while I am not there. What do you think? >>

I think in doing that, you attract even more attention to yourself. Basically your actions are telling the clerk, "Look at me, I'm putting something very valuable in here."

19Lyds · November 28, 2005 5:46AM

<< personally, i think your paranoia rivals that of the members who feel that having coin images on their checks is a security risk, but i guess we each need to take precautions which we deem necessary. >>

I am in agreement with keets on this. After all, there is a point where it gets a little overly paranoid. Everybody I know, know's what I do. Its a risk I take that I am comfortable with. The vault clerk and I have a standing joke about the number of rocks I keep in that thing and in casual conversation with them, I feel totally comfortable with their presence.

My brother in law on the other hand will not even consider sending coins in to be graded for fear that PCGS will misappropriate his coins!

coinguy1 · November 28, 2005 5:47AM

Personally, I think your caution (as opposed to paranoia) isn't a bad thing. However, realistically, the clerk has no idea as to the value of the coins, and as long as you keep it that way, I see no problem in what you're doing. Just keep it casual so she doesn't think you're a gazillionaire.

The bottom line, though, is how YOU feel about it. If you're uncomfortable with her seeing the coins, I'd suggest that you place them in an envelope or small box before going to the bank, so that when you place them in the box it's not so obvious. Or, bring a blindfold with you and use it on the clerk.

Cladiator · November 28, 2005 5:52AM

It's a bank and they are safety deposit boxes. You are supposed to be putting valuable things in there. The fact that someone saw you put something in that might be worth alot of money would sit as perfectly normal and routine.

streeter · November 28, 2005 6:36AM

In fact it is MANDATORY to open and inspect coins in front of bank employee if she is really HOT. Nothing quite like gold to strike up a conversation.

relayer · November 28, 2005 6:39AM

I just take the box to the private room to take coins in and out once they unlock it.

That way I can spend some time visiting coins I haven't seen in awhile.

Myqqy · November 28, 2005 6:57AM

My bank has a policy of not allowing their employees in the room while the bank customer has their box opened....

Mark · November 28, 2005 7:43AM

My local B of A has a policy similar to Myqqy, so I always have to tote the box to one of the little cubicles they have for working with safety deposit boxes. Personally there are times when all I want to do is to plop a coin back in its PCGS box, so it's a real pain to have to haul the safety deposit box out of the safe, replace the coin, and then haul the safety deposit box back to the safe. It wouldn't be so bad but the clerks are really speedly when it comes to running away from the vault, so there is always a wait until another clerk can be attracted to let me back into the vault.

I've told several of the clerks what I have in the box--I never know who's interested in collecting and it's sure a natural conversation point whjile holding the box. I feel perfectly safe telling the clerks because they must use their key AND my key to open the box. And apparently they can't cheat because I've seen boxes that have had their locks drilled because the owner lost his or her key. Indeed, I forget the amount, but it's not cheap to have a box drilled.

The time I don't feel precisely safe is when I am walking out of the vault to my car with a PCGS box in my hand. I always try to take a paper sack to put the box into. And, because I tend to be a sloppy dresser, my hope is that any thief looks at me as a careful wino who keeps his stash in a safety deposit box...

Mark

cho10 · November 28, 2005 7:44AM

<< I think in doing that, you attract even more attention to yourself. Basically your actions are telling the clerk, "Look at me, I'm putting something very valuable in here." >>

Barry · November 28, 2005 7:59AM

<< I think in doing that, you attract even more attention to yourself. Basically your actions are telling the clerk, "Look at me, I'm putting something very valuable in here." >>

I must be missing something. Isn't that was the box is for? What's in yours - your lunch?

coinguy1 · November 28, 2005 8:08AM

Beginning about a year ago, the bank where I have my deposit box started allowing clients to switch over to a hand scan entry system.

I now enter a code, let the scanner check out my hand and gain automatic access to the deposit box room. The second key hole for my deposit box, which was formerly used by the bank employee who accompanied me, is now covered up, and I use my single key to access my box.

I can enter the room, access my box and exit without waiting for a bank employee or signing a card, etc.. It saves time and helps avoid situations like those being discussed in this thread. I love it!

ddbird · November 28, 2005 8:15AM

Our bank requires a teller to be IN the room. A few years back someone slipped some sort of explosive in there, and they now require a teller in the room. It doesnt bother me..Im sure she sees enough valubles to loose track of.

Blade · November 28, 2005 8:26AM

My Bank of America is a new branch and installed a hand scanner like Coinguy mentioned. The employees don't even go near the door so no issue. There are times when other people are in there at the same time, in which case I use the closed door rooms.

But it has it's advantages. I saw a guy with his grandkid one day in there. He had what looked like some coin boxes. I asked if he collected and he just had odds and ends. But his grandkid - about 8 years old - was a coin nut. He could practically recite the redbook. I showed him a couple of coins and he loved it. I gave him an MS64 slabbed buffalo (generic date) and you would have thought I was Santa Claus. In this case, I had the opportunity to decide who would know about the coins. And no one else was in the room the entire time. Very cool.

LindeDad · November 28, 2005 8:30AM

The bank teller might have a better security rating than you do. I think they are pretty well screened before they get that type of job.

CharlieB · November 28, 2005 2:53PM

I would however recommend this. A bank manager was letting me in my safe deposit box some years ago at another bank.
He told me never to hand the safe deposit box key to the clerk. Always insert the key in the lock yourself and withdraw it later yourself.
He demonstrated how easily a clerk with my key could make a wax impression in the palm of the hand in a split second.
Since then I never let the clerk handle my keys.

SlangNRox · November 28, 2005 7:20PM

Recently I have been going into the room to put stuff into my box. The only scary part is having to wait for them to come back to safe when I want to return the box to its home. I don't like standing around the box holding a box. If it were to robbed I'd probably be the first target they'd hit. I have also slid in coins covered in a piece of paper or something while just cracking open the top of the box to do so. This seems to work well for me also.

tmot99 · November 28, 2005 11:28PM

<< It's a bank and they are safety deposit boxes. You are supposed to be putting valuable things in there. The fact that someone saw you put something in that might be worth alot of money would sit as perfectly normal and routine. >>

Exactly my thoughts.

If you don't trust the people at your bank, maybe it's time for another bank.

flaminio · November 29, 2005 12:06AM

Not only would I open the box with the clerk there, I'd show her what it was and tell her the little story as to how it came into my possession. 30 seconds of show-and-tell can be a real day brightener to an overworked underpaid bank clerk. It's not like she's going to see it and go "ooh, there's something valuable for me to steal". They're safe boxes. They've all got valuable stuff in 'em, and most of them are probably more valuable than my silly little coins.

curly · November 29, 2005 12:09AM

At my bank, the clerk always leaves me alone and I am responsible for locking it up when I leave. Once she opens her side of the lock, her key is no longer needed. I just close the door, pull out my key, take one last look around, and go on my merry way. Nobody sees a thing unless I want them to.

TwoSides2aCoin · November 29, 2005 12:18AM

If you have body parts or incriminating evidence or other weird stuff in that box, I would recommend not opening it in front of the clerk.

If you are ultra paranoid, you could hire security to escort you. (don't forget the body armour)

I personally like to tell the clerk what I have there, and because of that, she has led me to others who are older people who want to sell coins. I guess it is sort of like a crap shoot. Let your conscience be your guide.

Tols196024 · November 29, 2005 12:30AM

Hey Everyone! I work in a bank, and I can tell you that there is NO WAY the teller should see what you have in your box. It is actually a violation of Federal law for the teller to even be in the same room as you when you access your box.

Longacre · November 29, 2005 12:37AM

Tols-- Welcome and thanks for your comment!

oreville · November 29, 2005 1:16AM

<< Hey Everyone! I work in a bank, and I can tell you that there is NO WAY the teller should see what you have in your box. It is actually a violation of Federal law for the teller to even be in the same room as you when you access your box. >>

True but when pulling the box out of the vault becomes the real test. Bank employees always want to hand the box to you and I always try to intercept by offering to pull my own box out since it is so heavy with $20 gold coins, lot of BU silver rolls and slabs, etc. ! When a bank employee pulled the box out at their insistence, she grunted and said "what do you have in here, gold or lead?"

I grunted after taking the box and said, "boy those statehood quarters do weigh a lot, you have any MORE?"

Now, those statehood quarters are good for something!

partagas · November 29, 2005 1:53AM

If you are concerned, put the slab inside one of the free bank envelopes and then slip it inside the box. It is that simple.

You really shouldn't be too worried about coins. If the employee was going to steal, don't you think all that cash they have laying around would be a bit more tempting. Plus they have surveliance cameras etc.

Just my two cents.

michael · November 29, 2005 1:55AM

absolutely......................... it helps the box renter

if something is ever stolen/missing out of your box the bank has a liability issue as their employees had knowledge of what was specifically in your box

CTcollector · November 29, 2005 3:09AM

An older lady was just murdered in my neighborhood. She went to the same gas station every time to get her car serviced. She had a nice car and gave nice tips. So the slimeball who worked at the service station figured out she must of had some money or other valuables around. He found out her address and paid her a visit one night, killed her and robbed the house. Prior to this incident it didn't bother me that the bank attendant was with me when I was in and out of my box with coins, but now I take better precautions.

Is it OK to open your safe deposit box while the clerk is in the room?

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