Safe Deposit Box

#1
Ducreux

Ducreux

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#1
Any bankers on here or someone with knowledge or experience at being a hermit...I live by myself on the lake in a isolated setting. I have a home safe but I'm not comfortable with it and am looking at alternatives including a safety deposit box which I've never had....I did a little reading but would prefer some real world advice...I have some documents but mostly I have some coins I need safe keeping for...my concerns are first and foremost safety...IE from bank employee negligence or theft as well as any other reasons I could suffer a loss....theft from outside, etc...

I have a significant amount of my retirement tied to these coins...any words of wisdom would be appreciated....
 
#3
#3
I would not be afraid of a safety deposit box. That's what there for. The boxes are always under surveillance. Employees of the bank usually don't know or care what's inside them. When I go, I go alone with my key, the bank has the other key. It takes both keys to open the box. After the box is open, the employee leaves the vault with their key. You are alone with your box and you lock it yourself when done. MacGyver couldn't steal it on his best day.
 
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#4
#4
Bank employees are not allowed to access your box. They are extremely safe.
 
#6
#6
To get access to a safe deposit box, one needs the key, personal identification, and signs a slip. The bank employee checks the id and the signature against the signature and information on file. I think its extremely safe but I wouldn't suggest telling anyone whats in the box or the location of your deposit key.
 
#7
#7
Thanks for the feedback ...everything I've read and heard indicates their safe....I went and looked at 3 this morning at local branches....my biggest concern is the old adage that a company is only as good/safe as its weakest employee....and banks don't pay well to most....and they get 'abused' by people all day long who have far more money than they do....

Also no ones been able to give me any statistics about losses from the inside or outside...branch managers have old me they don't keep that info....we both know banks measure everything....anyway if I'm going to put the funds for my next 20 years somewhere I have to feel better than I do now....
 
#8
#8
Ducreux said:
Any bankers on here or someone with knowledge or experience at being a hermit...I live by myself on the lake in a isolated setting. I have a home safe but I'm not comfortable with it and am looking at alternatives including a safety deposit box which I've never had....I did a little reading but would prefer some real world advice...I have some documents but mostly I have some coins I need safe keeping for...my concerns are first and foremost safety...IE from bank employee negligence or theft as well as any other reasons I could suffer a loss....theft from outside, etc...

I have a significant amount of my retirement tied to these coins...any words of wisdom would be appreciated....
Click to expand...

Bury the coins?
 
#12
#12
Ducreux said:
Any bankers on here or someone with knowledge or experience at being a hermit...I live by myself on the lake in a isolated setting. I have a home safe but I'm not comfortable with it and am looking at alternatives including a safety deposit box which I've never had....I did a little reading but would prefer some real world advice...I have some documents but mostly I have some coins I need safe keeping for...my concerns are first and foremost safety...IE from bank employee negligence or theft as well as any other reasons I could suffer a loss....theft from outside, etc...

I have a significant amount of my retirement tied to these coins...any words of wisdom would be appreciated....
Click to expand...

just wondering why you would have a significant amount of your retirement in liquid assets ie, coins
vs an interest or dividend earning option
 
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#13
#13
vol_in_ar said:
just wondering why you would have a significant amount of your retirement in liquid assets ie, coins
vs an interest or dividend earning option
Click to expand...

Yes, put it in bank bonds where they're safe. The bank will turn around and lend that money and leverage it 30 to 1 but don't worry it will be safe. The only thing you have to worry about is if all the depositors want their money back at the same time the bank will have one dollar for every thirty of demand. Mason jar idea makes a lot more sense. Just make sure you bury it under a bush and remember which bush.
 
#14
#14
vol_in_ar said:
just wondering why you would have a significant amount of your retirement in liquid assets ie, coins
vs an interest or dividend earning option
Click to expand...

High%20Yield%20Savings.jpg
 
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