Current safe deposit box pricing???

oreville · July 16, 2008 10:22AM

In my area of New York within the Hudson Valley (in one county), the prices of a 10x10 safe deposit box ranges from a low of $100 per year to $350 per year.

Unbelievable variance!!

Any other figures?

Arizonadesertrat · July 16, 2008 10:27AM

Wow. I have a box that size, and am paying $78 yearly.

tmcsr69 · July 16, 2008 10:28AM

Here in the St. Louis Mo. area I have 3- 6X10 boxes and pay $35 per year for each one. I prefer the smaller boxes because they become heavy so fast. The PCGS/NGC storage boxes fit in there nicely.

Russ · July 16, 2008 10:28AM

Mine is $37.50 a year, but it's the smallest size.

Russ, NCNE

PawPaul · July 16, 2008 10:28AM

MINE IS 105$ ; SAME SIZE

coinkat · July 16, 2008 10:31AM

I am not sure I would pay $350 for a 10/10 box at 1 Wall Street

sweetwilliet · July 16, 2008 10:33AM

Free. BOA will give you a small one at no charge if you meet certain criteria, of which I have no idea what they are, but I do have a few accounts with them.

19Lyds · July 16, 2008 10:33AM

In Austin Texas, Denver Colorado and now Sacramento California, I've yet to see a 10x10 for $100 if you can even find one.

I believe they run from $120 to $200+

Edited: Stupid keyboard!

Elcontador · July 16, 2008 10:36AM

I have the third size up (think it's a 6 by 10). I get it as a freebie because I have an account at the financial institution. Otherwise it would cost $100 annually.

Russ · July 16, 2008 10:37AM

<< Free. BOA will give you a small one at no charge if you meet certain criteria, of which I have no idea what they are, but I do have a few accounts with them. >>

HMM...I'm going to have to check in to that. I have both my business accounts with them.

Russ, NCNE

trozau · July 16, 2008 10:39AM

In DFW, I have a 6X10 for $85/yr (discounted due to accounts with the bank) in 1 bank and a freebie 3X5 in another bank due to accounts with the bank.

lcoopie · July 16, 2008 10:42AM

that's the best money you can spend, IMO
and it my be tax deductable if you store tax
papers there as well?

TwoSides2aCoin · July 16, 2008 10:42AM

thanks for the reminder... I have a fee due notice of $75

I have a large box. It is about two feet deep, a foot wide and a foot tall (approx)

MrEureka · July 16, 2008 10:49AM

I think I just paid something like $168 for a 5x10 box, and it took me two years on the waiting list to get it!

LanLord · July 16, 2008 10:49AM

mine is free

, part of my big spender account

Walmann · July 16, 2008 10:51AM

Some of the price difference is due to higher location cost for some branches no doubt, but is anyone able to determine if there is any price relationship reflecting the financial strength of the banks themselves?

SaorAlba · July 16, 2008 10:52AM

<< Free. BOA will give you a small one at no charge if you meet certain criteria, of which I have no idea what they are, but I do have a few accounts with them. >>

Lots of banks will do this if you have significant funds(fool enough to trust them with so much money lately). But I know of a bank here that I used to, notice, used to do business with, would insist on charging for boxes. Curiously I could give a rat's snarfy bum for them anyway, and they are currently on the Fed's Watch It List.

kranky · July 16, 2008 10:53AM

A bank nearby quoted a "3x5x22" for $35/year. Sounds pretty small though.

jdimmick · July 16, 2008 11:21AM

If you are a premier account holder at BOA, then the small size box is free or they give that in credit towards if you need a larger size.

Same thing at BBT where my coin business account is, small size box is free if you meet min req. I beleive its 25k min account at both

jim

KollectorKing · July 16, 2008 11:26AM

Check out small independent banks and you can get a small SDB rent free with a minimum balance as low as $5,000.

roadrunner · July 16, 2008 11:27AM

I have a 5 x 10 and that runs $93/yr. Still cheap compared to burying it in the backyard.

This is Southeastern CT.

roadrunner

BAJJERFAN · July 16, 2008 11:29AM

In Ames I pay about $125 a year for one that holds about 20 PCGS blue boxes. A 10 x 10.

doh · July 16, 2008 11:31AM

Free for me...talk to your banker.

timcoin · July 16, 2008 11:31AM

Are you sure, at that price, that it is an actual safe deposit box? Some banks only have storage boxes, which are much less expensive. The difference? A safe deposit box is actually stored in a bank's vault, and the vault teller and box owner both have a key. A storage box is not stored in the bank's vault, but in a storage box room, and only the box owner has a key to the box.

oreville · July 16, 2008 11:33AM

The problem is that it used to make sense to drive a ways to go to a bank with a cheap rate for one or more boxes.

Today, with the price of gas it does not make sense anymore.

Of course, I do not suggest the $350 rate but the potential savings of $50 or so does not justify the extra driving.

oreville · July 16, 2008 11:36AM

<< Are you sure, at that price, that it is an actual safe deposit box? Some banks only have storage boxes, which are much less expensive. The difference? A safe deposit box is actually stored in a bank's vault, and the vault teller and box owner both have a key. A storage box is not stored in the bank's vault, but in a storage box room, and only the box owner has a key to the box. >>

I never heard of a storage box room.

I have only seen the bank vault room kind with two keys. Interesting idea.

timcoin · July 16, 2008 11:45AM

<< 

<< Are you sure, at that price, that it is an actual safe deposit box? Some banks only have storage boxes, which are much less expensive. The difference? A safe deposit box is actually stored in a bank's vault, and the vault teller and box owner both have a key. A storage box is not stored in the bank's vault, but in a storage box room, and only the box owner has a key to the box. >>

I never heard of a storage box room.

I have only seen the bank vault room kind with two keys. Interesting idea. >>

They are located at the smaller bank branches. The only reason I know about it is because I almost got tricked into renting one before I realized where they were leading me.

mozin · July 16, 2008 12:28PM

10 by 10 is $130 here.

Goldbully · July 16, 2008 12:32PM

I have two 10 x 10's...................$75 and $150/year

storm888 · July 16, 2008 12:46PM

IF your bank wants your business badly enough, they are happy to
give a free sdb as part of their service.

In this economy, $10K on long-term deposit should be about enough
to do the trick at many banks.

wayneme · July 16, 2008 1:35PM

12w x16h x 36L 48 per year the other 2 are smaller 23 and 16 per year

mrcommem · July 16, 2008 3:33PM

Mine is St. Louis is 5 X 10 x 14 and cost $51. I was looking at a large box 14 X10 X14. It just a door with no box. Just put your own container and shut the door. It was $200.

2ndCharter · July 16, 2008 9:41PM

My bank gives you the small one for free or a credit on a bigger one (just have to be over 55.)

TorinoCobra71 · July 16, 2008 9:45PM

mine is a 10x10 runs me $90 per year.

Barndog · July 16, 2008 11:51PM

I have two boxes. Both are at BofA branches in the same city. One is huge, costs $45/year. The other is "middle sized" -- the inner box can fit a PCGS blue box with enough room for a Dansco album on top. That one is $100/year. Maybe the cheap one is inexpensive because it is a BofA "Military Bank"?

Longacre · July 17, 2008 12:04AM

<< I have a 5 x 10 and that runs $93/yr. Still cheap compared to burying it in the backyard.

This is Southeastern CT.

roadrunner >>

I think mine is around $120 in Southwestern CT (hey, we're on the Gold Coast, so it has to cost more than SE Connecticut

)

Connecticoin · July 17, 2008 12:09AM

<< 

<< I have a 5 x 10 and that runs $93/yr. Still cheap compared to burying it in the backyard.

This is Southeastern CT.

roadrunner >>

I think mine is around $120 in Southwestern CT (hey, we're on the Gold Coast, so it has to cost more than SE Connecticut

) >>

$95/yr for a 5x10 in Central CT

JoesMaName · July 17, 2008 12:36AM

The low end sounds pretty reasonable I pay 70 for mine but I'm in the sticks.

astrorat · July 17, 2008 12:40AM

At my local credit union, the boxes are priced fairly reasonable. A 5x10 is around $55 annually and the 10x10 is about $75 annually. As with other banks and credit unions, there is a long wait. Oddly, my credit union does not keep a waiting list...you just have to keep calling and stopping by to see if one is available. On two occasions, I have been able to grab a box that was turned in only hours earlier!

Lane

mgoodm3 · July 17, 2008 1:04AM

I get mine free at BofA also. I tried to get a bigger one but they were all out.

moonshine · July 17, 2008 1:33AM

Has this been asked/mentioned? .....

If your bank goes down like the recent happening with IndyMac ..... what happens to the contents of your safe deposit box inside said bank?

ie. They don't start opening the boxes do they?

quickwing · July 17, 2008 1:34AM

Oreville, I've got a couple of 10X10's that I pay $60 a year for. I have different types of accounts with this mid-sized bank (some they even make money on) and they rent to me on the cheap. Just mail me what you need stored and I'll take good care of it for you. YOU CAN TRUST ME

stockwiz · July 17, 2008 2:02AM

5x7 $25 bucks a year. It's the one I was complaining about in the other thread about having hand scanners with no supervision while in the vault.

Fortunately, it's along the only wall visible from the outside of the vault (glass vault door) so if someone did try to pick the locks during business hours by getting their own box to get access inside, it's highly unlikely they'd pick any box along that wall when there are so many other boxes to choose from in the vault where they could do their picking without anyone seeing them. (vault is shaped like the number 8... one big room cut in half by a wall of boxes, almost like a broken number 8)

zeebob · July 17, 2008 3:17AM

<< 

<< 

<< Are you sure, at that price, that it is an actual safe deposit box? Some banks only have storage boxes, which are much less expensive. The difference? A safe deposit box is actually stored in a bank's vault, and the vault teller and box owner both have a key. A storage box is not stored in the bank's vault, but in a storage box room, and only the box owner has a key to the box. >>

I never heard of a storage box room.

I have only seen the bank vault room kind with two keys. Interesting idea. >>

They are located at the smaller bank branches. The only reason I know about it is because I almost got tricked into renting one before I realized where they were leading me. >>

I'm a little confused. Why would it be tricking? I have both a two key box (which I find a pain because I have to get the teller to let me in and fill out paperwork) and a 1-key storage box at another bank. Both keep coins out of my house (which provides a certain comfort for me regarding my family's security). Both are in banks. Both are under video Surveillance. Should I be concerned about using the 1-key box? If so, let me know, you may have a view that I haven't considered.

Raybob15239 · July 17, 2008 3:19AM

In Pittsburgh, I am paying $254 for a 10Wx12Hx24D box. (size estimated)

IGWT · July 17, 2008 3:23AM

10x10x21 @ $115/yr. It's more space than I need, but there were no 5x10 boxes available at the time that I rented (I think that the smaller box was about $20/yr less).

Current safe deposit box pricing???

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