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if you are breaking the rules and storing forbidden items why would you care about sticking to the 25k limit rule ? that is like bad guys having guns when the law says they can't own one ha ha ha
I’ve seen too many house fire article where the contents of the safe got fried. Even in so called fireproof safes. My bank is brick and the vault is steel. Safety deposit box it is! It is free due to our CD account
Very true, most "fire safes" are rated for one hour at 1500°f.
Most fires will burn for more than an hour, and can reach temps higher than 1500°.
I learned the hard way to keep important docs in a safe deposit box due to a house fire in 1989.
Replacing all those documents became a nightmare, on top of the nightmare of the fire itself, having to replace the basics of clothes, etc. Every thing was lost.
Also excellent idea to mention having to cover having homeowners or renters insurance!!
i was referring to chase . they revised their safe deposit box agreement and you can no longer store , cash , or gold coins that are non collectible . we have other banks here that have also followed chase's lead .
I have a firebox you can take with you, I have four gun safes, and a regular office type safe, which was on a shelf in a closet that I managed to have fall on and broke my foot.
I think having the in house safe is the better choice, since when you do die, no one may realize that you have a safe deposit box at a bank.
Safe deposit box contents go to the state unclaimed property if abandoned for over 5 years. Just like bank accounts.
Also, banks can't randomly search your box. It legally takes two employees to do a Will search (with a certified death certificate) and the box is audited at the time so to prove nothing was removed except for a possible Will. The only other reason why it would be searched would be for illegal purposes and the bank would need a legal warrant to do so.
Do you have a safe deposit box or a safe for your valuables? We have always used a safe deposit box but am thinking of investing in a safe. In the long run will be cheaper, plus everything will be in my home for easy access. Just curious what others in similar situations have.
Both, large gun safe also stores jewelry and a Safety deposit box for important papers and computer back-ups
some banks like chase no longer allow cash ,gold and non noncollectable coins in their boxes
We live in Florida but always dealt with Chase in NYC and now in Florida.
We just opened a larger safety deposit box at Chase. No one said anything about what I could keep there. I have jewelry, important papers, coins.
Maybe their rules have changed in NY?
We always had our box in NY and kept the same as above without a problem.
I like safes but am also a big fan of bogus safes in plain site, keeping the "real" safe hidden.
I inherited a safe that foiled a major robbery about 20 years back. Safe was heavy but 2 people could lift it (it was the size of a 2 drawer file cabinet). Burglars broke it loose from the floor (used the weight of the safe to break the floor bolts). They dragged it to the front door but couldn't lift it to get it in the getaway car. 600K in uninsured jewelry was in the safe.
Owner didn't want the safe anymore, she considered it "bad luck".....I took it as "good luck!"
Do you have a safe deposit box or a safe for your valuables? We have always used a safe deposit box but am thinking of investing in a safe. In the long run will be cheaper, plus everything will be in my home for easy access. Just curious what others in similar situations have.
Cost, hmm...
I pulled my receipt, and delivered my safe was $2,499. I certainly wasn't going to pick it up myself, or with three strong men. No tax on safes in WA.
Mine is a Liberty Lincoln, gorgeous and fits the color motif, too (looks great). LX25, brass hardware, gloss burgundy, tan interior, lighting, dehumidifier. Floor model so I saved some money there too. I don't have it completely full, but one tends to fill what room one has in safes. I think that's a great thing. Guns, valuables, and paper you'd hate to lose. It's actually attractive and interesting furniture, in my Man Cave/basement.
In about eleven years (give or take), I'm leaving this house. Sadly, the safe must stay. I will miss it. I move things in and out I'd say every other day. I don't like going to a bank to do the same.
OTOH, my dad did that for years, but he was more frugal than me and just dealt with it.
Let's see: in modern dollars, I think $30/month is a good bet for a safe deposit box. Or, $360/year. Well look at that: in seven years, my safe is paid off. I never really did the math, just wanted the convenience. I've had mine about $2K "worth" of time so far, so will be "paid off" this year or next.
Whouda thunkit....yep, get a Liberty (something) OR other non-garbage brand, please. Fire resistance is good, too. I have no practical experience how well that actually works, though.
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