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Safety deposit box -Anyone use them?
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14 posts in this topic

1 hour ago, Dark Knight said:

There are several threads regarding safety deposit boxes, safes, and the like if you do a search

(thumbsu

I always use Google to search for things on the CGC boards. Find it easier to search there than the search engine here on the boards.

Put "CGC safety box" in the Google search engine and eight separate CGC forum threads pop up immediately on the top.

BTW, I have used bank safety deposit boxes for years with no issues

 

 

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15 hours ago, DanCooper said:

(thumbsu

I always use Google to search for things on the CGC boards. Find it easier to search there than the search engine here on the boards.

Put "CGC safety box" in the Google search engine and eight separate CGC forum threads pop up immediately on the top.

BTW, I have used bank safety deposit boxes for years with no issues

 

 

Thank you.  I will check then out.  Do you ask your bank about insurance policy in case of flooding or fire?

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3 hours ago, Wolverinex said:

Do you ask your bank about insurance policy in case of flooding or fire? 

You are basically on your own when it comes to insurance on a bank's safety deposit box. See the following link from the FDIC's web site about safety deposit boxes. Notice the following in item #2 - "A safe deposit box is not a deposit account. It is storage space provided by the bank, so the contents, including cash, checks or other valuables, are not insured by FDIC deposit insurance if damaged or stolen. Also, financial institutions generally do not insure the contents of safe deposit boxes. If you want protection for the valuables in your safe deposit box or home safe, talk to your homeowner's or renter's insurance agent about adding coverage under these policies"

FDIC link on safety deposit boxes:

https://www.fdic.gov/consumers/consumer/news/cnwin18/fivethings.html

Also, another key thing to notice is where the bank's vault for the safety boxes is located. See the following article on how thieves broke into a bank's security box location in Queens, New York back in 2016. Nothing is full proof, but you like to cut down on the odds!

Article on safety box theft:

https://qns.com/story/2016/07/26/breaking-three-arrested-after-stealing-over-4m-during-a-rooftop-bank-burglary-in-rego-park/

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Climate control is a concern. A bank in Minnesota may keep its building cozy during business hours but turn off the heat at night or weekends.  Over a three day weekend the inside temperature may drop substantially. 

Rapid increase and decreases of temperature are not a good thing for pulp paper.  You want consistent climate control 24/7.

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4 hours ago, shadroch said:

Climate control is a concern. A bank in Minnesota may keep its building cozy during business hours but turn off the heat at night or weekends.  Over a three day weekend the inside temperature may drop substantially. 

Rapid increase and decreases of temperature are not a good thing for pulp paper.  You want consistent climate control 24/7.

Things like this kinda scares me. 

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12 minutes ago, shadroch said:

Don't be scared. Be forewarned. Just be aware that climate control is important.  In Vegas, climate controlled safety deposit units are the norm. In NY, there are scarce.

Living in Texas where heat is the norm, it is hard for me to believe that any place of business with a square footage as big as a bank shuts off the heating and cooling system on purpose...

That said My church does it...

But it blows my mind!

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I think heat might be more disruptive to the inner workings of a bank rather than the cold was my point, lol but it's still astounding that the person opening said building has to sit there and wait until it's room tempature....

:makepoint:

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13 hours ago, ADAMANTIUM said:

I think heat might be more disruptive to the inner workings of a bank rather than the cold was my point, lol but it's still astounding that the person opening said building has to sit there and wait until it's room tempature....

:makepoint:

I had automatic timers on the thermostat in my club in the 1990s.  They shut down a half hour before we closed and started at six pm the next day we were open. Maybe they'll hit Texas soon.

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you want to get a collectibles insurance policy for your books, even if they are stored in a bank box, like many of mine are. they will cover it there, and the bank boxes are often not fire proof. depends on the place i guess. 

i live in LA so it doesnt get too cold here. had my keys in the bank box for years now and not noticed any issues with the books re temperature. my problem is i have to keep getting more boxes because it's not good for slabs to get stacked too many on top of one another. and i keep buying books! 

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3 hours ago, www.alexgross.com said:

you want to get a collectibles insurance policy for your books, even if they are stored in a bank box, like many of mine are. they will cover it there, and the bank boxes are often not fire proof. depends on the place i guess. 

i live in LA so it doesnt get too cold here. had my keys in the bank box for years now and not noticed any issues with the books re temperature. my problem is i have to keep getting more boxes because it's not good for slabs to get stacked too many on top of one another. and i keep buying books! 

Why is it bad for slabs to be on top of each other?  Also, do you keep anything else with it to monitor humidity?

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