Your safe deposit box is safe til it isn't.

Mercury · February 21, 2006 2:02AM

OK, I dont agree with any of this doom and gloom stuff however, I can make a few comments about safety deposit boxes. I live just outside of New Orleans and several branches of local banks did lose all contents of their safety deposit boxes to looters. There were other banks were the vaults flooded and the safety deposit boxes filled up with water and then stayed that way for weeks on end. Then when the bank employees finally came back the contets were moved out of the city and it was months before many people were allowed access to the contents of their safety deposit boxes. Something very dramatic would have to happen to make me change my mind and put anything in a safety deposit box.

Baley · February 21, 2006 4:23AM

So, Mercury, are you saying that the things in those New Orleans safety deposit boxes would have been better off at the owners home?

Gemineye · February 21, 2006 4:58AM

My Sackies are Doomed................................

Mercury · February 21, 2006 1:41PM

Sorry to bring this thread back from the dead. But, I feel like I must answer Baliey's question. Yes, I think they would have been better off at home. The notice of the hurricane and the call to evacuate happened over the weekend. You could not have gone to the bank and grabed your coins if you wanted to. I was able to take my entire collection with me. Why? Because it was at home and under care of safe connected to a security system and protected by personal firepower. Yes, if I would have left the collection in my house and did not leave it would have been damaged. But, even if I stayed, I could have taken care of my coins to make sure they were not looted or exposed to any additional damage. Like I said before, some of the banks safety deposit boxes filled with water and stayed that way for weeks. Can you imagine what your slabbed or raw coins would look like after sitting in a box of flood water for a few weeks. I have a friend who had several GSA dollars that I offered him over $1000 for just seven months ago who is now asking me me if I would buy at any price. I am still waiting to see the coins. I have been told they are now removed from their holders and black. I am thinking the new figure if I even want them is less than $100. This same friend had a complete set of Peace dollars and a 90% complete danso type set which also got it. It is my understanding he had to dig the coins out of the pile of mush that was the album. He was not a collector just someone who inhertied the collection.

Mercury

Fountainhead · February 21, 2006 2:42PM

Very disturbing and informative. What neighborhood did you live in, Mercury?

1jester · February 21, 2006 2:45PM

Again, I'm proud to admit I'm one that so many have called an idiot. I would never keep anything in a safe deposit box.

Coin Finder · February 21, 2006 2:58PM

Not sure we are living in the same time as FDR and 1933. There are many more people and banks and wealth , some of that is totally hidden. There is also much more instant information and more mis communicatin than ever before. If the president decreed such a thing I would bet it would be a nightmare and work very badly.

Tbig

Mercury · February 21, 2006 2:58PM

I live in Metairie, just outside of New Orleans. My house is only around a mile from the breach of the 17th street canal. However, I am on the other side of the canal from the actual breach. I did lose a $50 bag of 1963D cents that had never been opened. Since the storm I have opened the bag and have put $15 dollars back into circulation. If anyone is intrested in owning a roll of 1963D pennies that were in hurricane Katrine let me know. I will send them to you for cost plus shipping. They have a good bit of color to them. Would you call this AT or NT

mrearlygold · February 21, 2006 3:59PM

I was lucky enough to be allowed into my bank here in Port Charlotte after hurricane Charley wiped most of the place out. Had to be escorted into the vault with an armed guard while a crew of construction workers watched. Fun huh? And that happened after 4 MONTHS.

Anything is possible.

Far as government doing something like this.........anything is possible and only an ignoramus wouldn't think so.

Fountainhead · February 21, 2006 6:14PM

Mercury, have you not heard of the Redfield hoard? Hundreds of Morgans colored by exploded cans of peach juice. They have a collector value all to themselves. Why not reat your rolls the same way? Be sure to promise everyone a certificate of authenticity that these coins that survived Katrina, then put them up for sale on the Buy/Sell board, or even on eBay.

I'm glad you recovered your coins. On the NOLA side of the breach, I suppose they could have washed away entirely, or be bulldozed into emergency canal fill.

Why did the banks in Metairie empty their SD boxes immediately afterwards? That part I don't understand.

rmoss · February 21, 2006 7:40PM

<< <i>There aint nothen safe no more. Your phone, putor, mail conversations

bank safe, bank accounts. I bet even ones shorts are not safe

from government snooping. I could swear smoeones been rummiging thru

my stash of donuts too. >>

I didn't know bears could keep donuts long enough to stash them.

Your safe deposit box is safe til it isn't.

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