Hi everyone I hope you are all well. I did some research on storing some of my coins in my banks safety deposit box.After talking to the agent at the bank I walked out and said my mattress is safer. One the vault and the safety box area are kept at high humidity to protect important papers.
Now that will make your coins tone even in a slab. Now anything you put in is not insured. If you want to put large amounts of money the I.R.S can and will confiscate that money. There thinking is your trying to beat the government out of taxes. Besides things have been stolen from these boxes. I read a story a gentleman went to look at the gold coins his grandfather left him. The bank manager was very helpful till they got to the box. Forty thousand dollars of gold coins were gone!! The manager said the government thought that he was part of a terrorist ring. He of course was not. They don't even have to notify you.
Before you sign the contract read it carefully.Some banks still do not allow coins to be stored. Who would of thought. The I.R.S if there investigating you can empty your box of all its contents. Of course no weapons or anything dangerous can be stored.
I have read on line horror stories of coins missing and boxes emptied. Safe deposit boxes don't sound to be safe. Your on your way to look at your coins. There is a sign in the window. This branch is temporary closed. Nothing you can do. Your box might have gone to another branch and opened. Yes a government official will be there. Why? There looking for people stealing from the government!
You don't have access to the vault 24/7. That also can be a problem. Yes big brother is watching they do want your money. Large deposits of jewelry. And the will use any reason to get them. Buy a safe for home . I have been using one for years. Bolt it in the floor. That's the safest way to do it. Miss a payment after all there rented for the year some states have laws that say they can confiscate your box. Its easy to forget the bank won't mind if I'm late but the state government does.
For years people thought these boxes were safe for cash and coins. There not. One person asked the agent can I store my coins in my box. He said yes!! But would not put that in writing . Why he knows the many reasons government officials have to taking the contents of your box!
So as I stated earlier read the contract over and over again. These coins include gold coins from foreign country's . If its gold it doesn't matter. After I spoke to the agent I realized I could not rent a box. This I cannot say. My coins would be gone in a heart beat with my papers. Be careful think twice. Is this what you want? But I'm honest!.Sometimes the government doesn't think so. They could be 100% wrong. You still loose! This includes silver coins not just gold. Any precious metal!
....Go to community. Go to the bottom you will see the Numismatic Crime site.! Read some!