ARE THE SAFETY DEPOSIT BOXES SAFE ? WHAT DO MY COIN PEOPLE THINK
in a Bank Safety Deposit Box!
Bank officials have been informed by the Department of Homeland Security (DHS) that all safety deposit boxes will be seized in the event of a national disaster.
As occurred sporadically during the Great Depression, Federal agents will examine all safety deposit boxes and determine which items may be returned to bank customers. No weapons, cash, gold or silver will be allowed to leave the bank—only paperwork will be given to its owners.
Bank officials have been instructed not to reveal this policy to bank customers, even if asked. IF THIS IS TRUE WHAT WILL BE NEXT THE GOLD FROM OUR RINGS AND FILLINGS.I KNOW THERE IS SOME ONE OUT THERE THAT WILL KNOW
Bank officials have been informed by the Department of Homeland Security (DHS) that all safety deposit boxes will be seized in the event of a national disaster.
As occurred sporadically during the Great Depression, Federal agents will examine all safety deposit boxes and determine which items may be returned to bank customers. No weapons, cash, gold or silver will be allowed to leave the bank—only paperwork will be given to its owners.
Bank officials have been instructed not to reveal this policy to bank customers, even if asked. IF THIS IS TRUE WHAT WILL BE NEXT THE GOLD FROM OUR RINGS AND FILLINGS.I KNOW THERE IS SOME ONE OUT THERE THAT WILL KNOW
Views: 134
Replies to This Discussion
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Permalink Reply by John W on -
The only thing that I know, is that the contents ARE NOT INSURED by the FDIC.
So if a disgruntled owner of another box decides to blow the vault up, by putting a bomb in his box, you could
be out of luck. Not likely, but possible.
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Permalink Reply by george palmer on -
THANKS WHAT ABOUT A DISGRUNTLED BANKER IF THEY TAKE IT IS THERE SOME KINDA OF HELP FOR THE DEPOSTER
John W said:The only thing that I know, is that the contents ARE NOT INSURED by the FDIC.
So if a disgruntled owner of another box decides to blow the vault up, by putting a bomb in his box, you could
be out of luck. Not likely, but possible.
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Permalink Reply by george palmer on
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MAYBE A HOME SAFE WILL BE THE NEXT THING I BUY AND SOME GUNS AND DOGS
CC said:I have 3 free safety deposit boxes, which I choose not to use. I’m not the most trusting person. If I want to keep something safe I put it in my own safe and in front of my safe are my guns.
Although, the size of the presentation boxes that the US Mint puts coins in sure takes up space fast. It has crossed my mind a time or two about putting something in the safety deposit boxes.
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Permalink Reply by John W on
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I'm afraid my UHR boxes are totally unprotected. They were the first to lose a spot in the safe.
CC said:I have 3 free safety deposit boxes, which I choose not to use. I’m not the most trusting person. If I want to keep something safe I put it in my own safe and in front of my safe are my guns.
Although, the size of the presentation boxes that the US Mint puts coins in sure takes up space fast. It has crossed my mind a time or two about putting something in the safety deposit boxes.
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Permalink Reply by Dave on
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More likely scenarios that could wipe out a safety deposit box would be fire, theft or a natural disaster – such as a tornado. Banks don’t want to know what you have I your boxes because they don’t want to have to assume any liability for the contents. That makes sense. The banks just provide a place with reasonable security. Nothing is full proof though and as noted by John, you’re usually on your own when it comes to insuring the contents of your box.
The “rumor” about Homeland Security secretly instructing bank personnel to seize the boxes during a national crisis is largely accepted to be just a hoax. That email hoax has been circulating around for a while now. If the government were to seize safety deposit boxes without a valid warrant and due process, then that would be an invasion of privacy (and a few other violations to boot) – which is a violation of our Constitution. Albeit… if Marshal Law is declared then all bets are off. But if that happens then we’ve got bigger concerns then our bank boxes.
Properly bolted and fire-proofed safes are great – unless a home invader has a gun to your head and is demanding the combination. So just like we preach not keeping our investments all in one place, I don’t think it’s a good idea to keep all of one’s coins in one place.
An alternative to bank boxes and safes to consider is a sealed PVC pipe buried in the back yard. ;-)
My safe is pretty full. I guess I should consider emptying the boxes. That would free up lots of room.
CC – Don’t let them take your Tomb-Raider gun (if you get one). :-)
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Permalink Reply by george palmer on
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maybe they are trying to get people to use other storage but some of the ones that I have look at are going broke ?:-0
Dave said:More likely scenarios that could wipe out a safety deposit box would be fire, theft or a natural disaster – such as a tornado. Banks don’t want to know what you have I your boxes because they don’t want to have to assume any liability for the contents. That makes sense. The banks just provide a place with reasonable security. Nothing is full proof though and as noted by John, you’re on your own when it comes to insuring the contents of your box.
The “rumor” about Homeland Security secretly instructing bank personnel to seize the boxes during a national crisis is largely accepted to be just a hoax. That email hoax has been circulating around for a while now. If the government were to seize safety deposit boxes without a valid warrant and due process, then that would be an invasion of privacy – which is a violation of our Constitution. Albeit… if Marshal Law is declared then all bets are off. But if that happens then we’ve got bigger concerns then our bank boxes.
Properly bolted and fire-proofed safes are great – unless a home invader has a gun to your head and is demanding the combination. So just like we preach not keeping our investments all in one place, I don’t think it’s a good idea to keep all of one’s coins in one place.
An alternative to bank boxes and safes to consider is a sealed PVC pipe buried in the back yard. ;-)
My safe is pretty full. I guess I should consider emptying the boxes. That would free up lots of room.
CC – Don’t let them take your Tomb-Raider gun (if you get one).
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Permalink Reply by True Money on -
Speaking of explosions. There was an explosion in the bank vault housing my safety deposit box a few years ago. About the only thing that seems to have any aparent damage is my original roll of 1986 Silver Eagles. I observed toning on the coins on each end of the tube. As far as I can tell, the coins on the ends seem to be the only ones that have experienced any toning. None of these coins have ever been removed from the original government tube (clear tube with orange caps on each end). There was also a 1987 U.S. Constitution $5 commemorative coin in there. It recently graded MS70 with PCGS. Obviously, it did not receive any damage.
It is a common rule of thumb, that you should never store money, precious metals, gemstones, etc. (anything that has value) in a safety deposit box. These are items that can indeed be seized by the U.S. government. A safety deposit box is meant for the safe storage of items such as deeds, car titles, etc. Nothing that can be used for monetary purposes should be stored in a safety deposit box.
Another thing worth noting is the legal advice I have received in the past. It is not advised to store a "Last Will and Testament" in a safety deposit box. It is sound legal advice to store a "Last Will and Testament" within the confines of the person's home or living quarters inside a fire-proof safe. This advice is based upon past legal experiences with banks and lawful authority to a person's safety deposit box and legal rights to access the items within.
-True Money!
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Permalink Reply by Dave on
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Wow! What caused the explosion TM?
Wills should not be put in the boxes because the executor will not be able to get to the box without the will that shows that he or she is the executor. Kind of a catch-22 which could cause a lot of delays. One recommendation is to keep your will with your attorney.
True Money said:Speaking of explosions. There was an explosion in the bank vault housing my safety deposit box a few years ago. About the only thing that seems to have any aparent damage is my original roll of 1986 Silver Eagles. I observed toning on the coins on each end of the tube. As far as I can tell, the coins on the ends seem to be the only ones that have experienced any toning. None of these coins have ever been removed from the original government tube (clear tube with orange caps on each end). There was also a 1987 U.S. Constitution $5 commemorative coin in there. It recently graded MS70 with PCGS. Obviously, it did not receive any damage.
It is a common rule of thumb, that you should never store money, precious metals, gemstones, etc. (anything that has value) in a safety deposit box. These are items that can indeed be seized by the U.S. government. A safety deposit box is meant for the safe storage of items such as deeds, car titles, etc. Nothing that can be used for monetary purposes should be stored in a safety deposit box.
Another thing worth noting is the legal advice I have received in the past. It is not advised to store a "Last Will and Testament" in a safety deposit box. It is sound legal advice to store a "Last Will and Testament" within the confines of the person's home or living quarters inside a fire-proof safe. This advice is based upon past legal experiences with banks and lawful authority to a person's safety deposit box and legal rights to access the items within.
-True Money!
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Permalink Reply by Frank Charly on
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I have never had any experience of an explosion in a safety deposit box, but I have seen and heard some of the crazy ideas coming out of this administration. They have no respect for the United States Constitution and would not hesitate a minute to confiscate anything of value to keep their electorate supplied with crack. The day after the election , I emptied my safety deposit box. Now , I am happy to give the President and his crowd all my college transcripts, old insurance policies, et . al. I would love to see how much crack they can buy with that.
My coins are protected by a secured community on an island with only two exits policed by the nastiest cops you ever came across. Then there is the dog and the S&W .41 magnum revolver and the S&W .45 semiauto. pistol. And on these issues I can be an absolute nutcase. There is no mercy in my soul for anyone who would even try me.
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Permalink Reply by Dave on
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Well you’re going to love this Frank (I jest). I just read where congress is going to spend $550 million for eight new jets for themselves. Apparently their existing fleet just isn’t good enough for them. These guys are incredible!
Can you still get rounds for that .41 magnum?
Frank Charly said:I have never had any experience of an explosion in a sfety deposit box, but I have seen and heard some of the crazy ideas coming out of this administration. They have no respect for the United States Constitution and would not hesitate a minute
to confiscate anything of value to keep their electorate supplied with crack. The day after the election , I emptied my safety deposit box. Now , I am happy to give the President and his crowd all my college transcripts, old insurance policies, et . al.
I would love to see how much crack they can buy with that.
My coins are protected by a secured community on an island with only two exits policed by the nastiest cops you ever came across. Then there is the dog and the S&W .41 magnum revolver and the S&W .45 semiauto. pistol. And on these issues I can be an absolute nutcase. There is no mercy in my soul for anyone who would even try me
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Permalink Reply by Frank Charly on
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Dave: It is not easy to get ammunition for the .41. Originally only Remington made it. I don't believe they still make it. There are a few other companies that tried it. But the .45 has some great stuff . One is called hydroshok. Then Winchester made something called Black Talon but they withdrew it from the market but I've got some. I paid $14.95 for a box of 20. Now I see it for sale at $65. for a box of 20. I don't know whether this is new or old ammunition. As the former Director of a police force our policy was similar to LAPD and that is an officer should never carry ammunition that was more than a year old. If anything use it on the range. Never use old ammunition when your life depends on it .
Dave said:Well you’re going to love this Frank (I jest). I just read where congress is going to spend $550 million for eight new jets for themselves. Apparently their existing fleet just isn’t good enough for them. These guys are incredible!
Can you still get rounds for that .41 magnum?
Frank Charly said:I have never had any experience of an explosion in a sfety deposit box, but I have seen and heard some of the crazy ideas coming out of this administration. They have no respect for the United States Constitution and would not hesitate a minute
to confiscate anything of value to keep their electorate supplied with crack. The day after the election , I emptied my safety deposit box. Now , I am happy to give the President and his crowd all my college transcripts, old insurance policies, et . al.
I would love to see how much crack they can buy with that.
My coins are protected by a secured community on an island with only two exits policed by the nastiest cops you ever came across. Then there is the dog and the S&W .41 magnum revolver and the S&W .45 semiauto. pistol. And on these issues I can be an absolute nutcase. There is no mercy in my soul for anyone who would even try me
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Permalink Reply by george palmer on
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can I pay you to take care of my coins :-}
Frank Charly said:Dave: It is not easy to get ammunition for the .41. Originally only Remington made it. I don't believe they still make it. There are a few other companies that tried it. But the .45 has some great stuff . One is called hydroshok. Then Winchester made something called Black Talon but they withdrew it from the market but I've got some. I paid $14.95 for a box of 20. Now I see it for sale at $65. for a box of 20. I don't know whether this is new or old ammunition. As the former Director of a police force our policy was similar to LAPD and that is an officer should never carry ammunition that was more than a year old. If anything use it on the range. Never use old ammunition when your life depends on it .
Dave said:Well you’re going to love this Frank (I jest). I just read where congress is going to spend $550 million for eight new jets for themselves. Apparently their existing fleet just isn’t good enough for them. These guys are incredible!
Can you still get rounds for that .41 magnum?
Frank Charly said:I have never had any experience of an explosion in a sfety deposit box, but I have seen and heard some of the crazy ideas coming out of this administration. They have no respect for the United States Constitution and would not hesitate a minute
to confiscate anything of value to keep their electorate supplied with crack. The day after the election , I emptied my safety deposit box. Now , I am happy to give the President and his crowd all my college transcripts, old insurance policies, et . al.
I would love to see how much crack they can buy with that.
My coins are protected by a secured community on an island with only two exits policed by the nastiest cops you ever came across. Then there is the dog and the S&W .41 magnum revolver and the S&W .45 semiauto. pistol. And on these issues I can be an absolute nutcase. There is no mercy in my soul for anyone who would even try me
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