Safe Deposit Boxes

[mbailey1234]

In a true SHTF situation, would you have access to your safe deposit box at your local bank? What happens to those when a bank closes. I'm sure you would get your belongings back but would it take a while? Anyone ever heard of this scenario?

[Tourney64]

During the great depression, a government agent had to be present when you opened your safe deposit box to make sure you weren't holding any illegal gold. Since Obama is following FDR's playbook, I think safe deposit boxes should be the last place you want your valuables.

[slickeast]

Keeping it in a safe deposit also keep it safe from your hands. If you don't hold it, you don't own it.

[Mossy]

The fedgov is not the only hazard. Diversify your holdings, and diversify your storage locations. Don't put all your eggs in one basket, and make sure it's not just eggs in the basket.

[68Camaro]

I respond with some caution for newbies. Don't execute anything we suggest; this is all under the fantasy that we actually have any precious metals, which we all know that we don't - this site is really like a fantasy sports league, right? Right. Opsec first.

There is no single best specific solution, but the best advice is no doubt to diversify. Don't put all your eggs in any one basket. Don't put them all in any one TYPE of basket.

In my PM fantasy world, for reasons that make sense to me in the moment, and which may change with time and circumstance, I DO have a safe deposit box. I actually have three. They are with three different types of institutions (one a large US multi-national, one a large US regional, and one a Canadian-based regional), and I have 1/4 of my silver (roughly) in each at the moment. No gold in them. And that's right - I have a 1/4 of my silver in each (there is another 1/4 somewhere else). I will no doubt shake things up later. I ain't saying. But they have some utility - just don't bet the farm on any of them, or all of them. Just like I don't bet the farm on any single one of my other security solutions.

[JadeDragon]

None of us have precious metals or nickels or copper pennies. None of us have safety deposit boxes in our own town, out of town or in foreign countries and if we did they would be stuffed with family photos. None of us have safes either or guns - definitely no guns.

[NDFarmer]

I have a safe deposit box but all I keep in it is some land abstracts, some vehicle titles, birth certificates, a hard drive with all my family photos and videos on. The kind of items you want to protect from a fire in your home. If I had any PM's a safe deposit box is the last place I would keep them. If I had any.

[henrysmedford]

This bank we go to had the boxes emptied . And they still do not know who did it.

Caper' at Chase bank was like Redding case
Burglars got in bank shortly after remodel
By Anita Burke
Mail Tribune
August 27, 2009 2:00 AM
The burglary of a Chase bank vault in south Medford this summer echoes a sophisticated break-in at a
Redding bank five years ago, investigators said.
Bank employees arriving to open the bank at 81 E. Stewart Ave. on Monday, July 20, found that the
vault had been breached over the weekend and items had been taken from safe deposit boxes, Medford
police Detective Sgt. Mike Budreau said. "Somebody had to know the bank and its premises pretty
well," he said, noting that the bank has a complete security system including cameras. The security
cameras didn't show the inside of the vault, though.
The branch, a former Washington Mutual outlet, had undergone some remodeling — including a new
carpet, paint and furniture during the spring — to prepare it for reopening as a Chase branch on June 1,
said Darcy Donahoe-Wilmot, a Seattle-based spokeswoman for Chase. JPMorgan Chase bought
Washington Mutual last year.
Noting that bank burglaries are far rarer than bank robberies, investigators from the Medford police,
Oregon State Police and the FBI sought out other unusual burglaries at banks.
"We've searched other agencies' cases," Budreau said. "Redding's case has a lot of similarities."
In May 2004 in Redding, burglars apparently slipped into a Bank of America branch on Hilltop Drive
through a rooftop access door and chiseled their way into a concrete vault, the Redding Record
Searchlight reported at the time.
According to Record Searchlight archives, investigators suspected that the thieves might have spent
more than a month cracking through the concrete into the vault. An alarm on the vault was tripped
during the night numerous times in the five weeks before the crime was discovered, police told the
Redding paper at the time.
Each time, officers found the bank's doors and windows secure. However, they never checked the roof,
news accounts reported.
When bank employees arrived one Monday morning in mid-May and couldn't open the vault, they
blamed a mechanical malfunction of the security system. After almost two days of trying to open the
vault, the bank brought in its own security specialists to drill it open and discovered items strewn about
inside.
The Bank of America branch had been remodeled just before the burglary, and investigators from the
Redding police and FBI interviewed bank employees, painters and air-conditioning maintenance crews
and other workers who might have been at the bank. Rewards were offered for information about the
case, but it went unsolved.
http://www.mailtribune.com/apps/pbcs.dl ... =/200908...
1 of 2 5/13/11 2:27 PM
Budreau said he believed the statute of limitations on prosecuting the California case expired this
spring.
Redding police didn't return calls about the case this week.
Medford investigators had remained mum about the details of the Chase break-in, declining until this
week to even disclose details about what was targeted or taken in the burglary, which they called
substantial and sophisticated.
They had described the crime as "quite a caper," and "the stuff movies are made of."
Details about how the vault was entered still haven't been released. Neither was the total estimated
value of the thieves' haul, although Budreau said police were working with people who had leased safe
deposit boxes and lost valuables.
Donahoe-Wilmot said the bank was assisting clients so they could make insurance claims. Federal
deposit insurance doesn't cover items stored in safe deposit boxes. Experts quoted at bankrate.com
recommend adding endorsements or "personal-articles floaters" to homeowners' insurance policies to
guarantee that items stored in safe deposit boxes are protected.
Reach reporter Anita Burke at 776-4485, or e-mail aburke@mailtribune.com.
http://www.mailtribune.com/apps/pbcs.dl ... =/200908...
2 of 2 5/13/11 2:27 PM

[Rosco]

I don't even visit RealCent during daylight Hours Who Knows Not Me

[henrysmedford]

I don't even visit RealCent during daylight Hours Who Knows Not Me

Rosco
Penny Hoarding Member

Posts: 908
Joined: Sun Dec 27, 2009 1:00 pm
Location: OREGON SW Valley hwy99 or RV TRAVEL along I-10 in winter
Feedback: 1|0|0

[Copper Catcher]

In many states, safe deposit boxes are no longer sealed at death and inventoried by a government agency. However, in other states, safe deposit boxes are still sealed and inventoried.

If the safe deposit box has another signer on the box, the other signer or signers may legally enter the box and remove anything they wish. If there is no co-signer on the box, then anyone who has a certified copy of the death certificate and the key to the box may enter the box to search for and remove the decedent's will and any burial instructions. A representative of the financial institution will accompany the person to be sure nothing else is removed.

If there is no co-signer and there are no probate proceedings, then the people who inherit the decedent's assets can usually fill out a form after the decedent’s death, enter the safe deposit box, and remove the contents.

If there is a probate, the executor or administrator may legally enter the box after being appointed by the court and remove all of the contents.

If the box is sealed, you should make an appointment with the state agency to inventory the contents of the box. (It may take several weeks to schedule the appointment.) Obviously, you will need the keys to the box to enter it. If the key has been lost and can’t be found, the financial institution will generally have it drilled open. The institution will probably charge a significant fee for this. If there are co-signers on the box, they can enter it after it is inventoried. Otherwise, the executor or administrator will have to do this. If someone has a power of attorney for the decedent, the power of attorney terminated at the time of the person’s death and the agent (the person with the power of attorney) cannot enter the box.

PLAN AHEAD
Talk to someone at the institution where you keep your safe deposit box and find out what will happen to it after your death. Will the box be inventoried? If so, what government agency inventories it and who should be contacted? How long does it take to get an appointment? In addition to all of this, it is a good idea to keep a list of what you keep in the safe deposit box. It can be very disconcerting trying to find documents or items after someone’s death and not knowing whether they are in the decedent’s safe deposit box or not. Let your loved ones know what you keep in the box and the easiest way they can get access to it after your death. Be sure that they know where the key to the box is located.


It is also a good idea to have another family member as a co-signer on the box, or for a husband and wife, to have a third party as a co-signer. That way, after your death someone can enter the box without waiting for an executor or administrator to be appointed.

Source: http://www.perebruin.com/finance.htm

[Mossy]

I have a safe deposit box but all I keep in it is some land abstracts, some vehicle titles, birth certificates, a hard drive with all my family photos and videos on. The kind of items you want to protect from a fire in your home. If I had any PM's a safe deposit box is the last place I would keep them. If I had any.

I'd suggest copying all the paper and the hard drives to DVD's. Keep the paper /and/ DVDs there, but not the hard drive. Hard drives go bad over time, especially if they are not used.

I gather that it would be a good idea to copy what's on one hard drive to another annually, just to keep the magnetism fresh. You don't need to toss the old hard drive, so you can, for example, copy A to Spare, B to A, C to B, and C becomes "new spare".

[John_doe]

In a true SHTF situation, would you have access to your safe deposit box at your local bank? What happens to those when a bank closes. I'm sure you would get your belongings back but would it take a while? Anyone ever heard of this scenario?

A family member of mine was denied entry into a safty deposit box during the great depression.

[emptypockets]

well heck you all just made me decide best to keep all my (puny as they are) holdings in my possession and to think i just paid the bank for the deposit box.....well i guess ill keep all my important family stuff there and remove any of my fictitious PM's from my newly acquired deposit box and protect them with my red rider BB gun

[inflationhawk]

Statistically, it's far more likely to have a house fire or have your home burglarized than have your access denied to your safety deposit box so if you keep them at home keep them protected and hidden. Doesn't hurt to diversify and keep some home and some in the safety deposit box. Don't let the fear and paranoia on this blog get to you. There are certainly risks in EVERYTHING, you just have to weigh the probabilities against each other and do what's best for you. For some on here, the best thing may be to keep them in their own possession because its the only way to keep the demons at rest.

[Rodebaugh]

How do you think my coins get so nicely toned. In my Musty Rusty SD box.

Joking about the toning but the box is quite rusty. It's about big enough to set up a hoop and play a game of horse in... and I got it for $9 a year do to "condition issues"

Yeah, get yourself a SD box. They're great for dumping tax junk into as well to help keep solid records.

[emptypockets]

Statistically, it's far more likely to have a house fire or have your home burglarized than have your access denied to your safety deposit box so if you keep them at home keep them protected and hidden. Doesn't hurt to diversify and keep some home and some in the safety deposit box. Don't let the fear and paranoia on this blog get to you. There are certainly risks in EVERYTHING, you just have to weigh the probabilities against each other and do what's best for you. For some on here, the best thing may be to keep them in their own possession because its the only way to keep the demons at rest.

good advice....i do have a small safe i suppose if had a few pm's laying around i could put a few lbs there and the bank spread the wealth a bit......im a bit of a paranoid myself and the thought of not being able to get my hands on my imaginary goods creeps me out.

[SilverDragon72]

None of us have precious metals or nickels or copper pennies. None of us have safety deposit boxes in our own town, out of town or in foreign countries and if we did they would be stuffed with family photos. None of us have safes either or guns - definitely no guns.

Yes! I resemble that statement!

[SilverDragon72]

Statistically, it's far more likely to have a house fire or have your home burglarized than have your access denied to your safety deposit box so if you keep them at home keep them protected and hidden. Doesn't hurt to diversify and keep some home and some in the safety deposit box. Don't let the fear and paranoia on this blog get to you. There are certainly risks in EVERYTHING, you just have to weigh the probabilities against each other and do what's best for you. For some on here, the best thing may be to keep them in their own possession because its the only way to keep the demons at rest.

good advice....i do have a small safe i suppose if had a few pm's laying around i could put a few lbs there and the bank spread the wealth a bit......im a bit of a paranoid myself and the thought of not being able to get my hands on my imaginary goods creeps me out.

+1.....even though I don't have anything...last time I looked.