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Bank Safety Deposit Box for Blue Chips?

Started by Racer-X,

53 posts in this topic

mysterio

mysterio

Posted
Posted
If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)
Is that a dealer or collector policy? I don't think the collector policies cover shipping, do they?

 

Yes it does...but only up to $250 unless it's sent with $100 insurance and signature required. That's good till $2500, after that I think you have to send it registered and mine at least covers to $50k.

So I can get a collector policy, send a package with $100 insurance and signature confirmation required and it will cover up to $2500 of the policy limit? What about books being sent to me?

 

Works the same way, I believe. It is for any books intransit. Even if you were taking books to a show and something happened you would be covered (at least that is my reading of their policy, and I have read it, but someone can correct me if needed).

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Primetime

Primetime

Posted
Posted
If you insure, go with Collectibles Insurance out of Maryland. Most dealers and collectors use them. I've had them many years now. My premium averages about $60 per month and I'm getting about $130k+ of umbrella coverage. Plus I'm covered for insurance for packages sent to and from me. Saves a ton on shipping insurance on four and five figure books :)
Is that a dealer or collector policy? I don't think the collector policies cover shipping, do they?

 

Yes it does...but only up to $250 unless it's sent with $100 insurance and signature required. That's good till $2500, after that I think you have to send it registered and mine at least covers to $50k.

So I can get a collector policy, send a package with $100 insurance and signature confirmation required and it will cover up to $2500 of the policy limit? What about books being sent to me?
same thing when books are being shipped to you..so on my policy, if I'm shipping or receiving a book less than $200, I can use USPS any method. If its worth $200-2500, I need to get a signature for the package. If I'm sending or receiving a book or books in the $2500-$60k range I need to send overnight with signature USPS or FedEx. If I have Four books and they are $25k each, I can't ship them all together. Rather, I can ship two in each box at $50k each and I'm covered. At $60k+++ a book, I'm probably hopping on a plane and hand delivering or they are coming to see me lol
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Wally's Comics

Wally's Comics

Posted
Posted

The choice is yours, but I have three giant safe deposit boxes that I pay

only $150 a year for all...

 

$60 a month = $720 a year

 

I would rather take that $570 extra savings and just go visit the comics at the SDB

whenever I wanted.

 

Seems like a no brainer to me, but to each his own.

 

 

:cloud9:

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Comicsarefun

Comicsarefun

Posted
Posted
Solved my problem.

 

 

safepics2012003-1.jpg

 

Most gun safes have great fronts to impress the buyer, and very thin sides and back, easily cut through with a power tool.

 

Not saying yours is like that, but if it takes less than 3 (normal) people to move it or it cost less than $1500, you may be less secure than you think.

 

8 out of 10 gun safes sold at major retail stores are a joke. They stock them because they are cheap and light.

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DR.X

DR.X

Posted
Posted

House is alarmed and so is the safe. It's also bolted to the floor. I know thieves can get into anything if they have the time, but I prefer my books close by. Just my opinion though.

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shadroch

shadroch

Posted
Posted

Saftey Deposit boxes work great- when the books are in them and the bank is open. They don't help when you need take the books out for whatever reason- shows, sales, ect. They also can be bad when the bank is closed for a three day holiday and the AC/heat is shut off. Paper is best kept at a steady degree.

going from 70 to 50 in the winter or ninty in the summmer is not optimal.

Safes can be bad if the proper storage precautions are not used.

I use a bit of all three methods.

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Silver Surfer

Silver Surfer

Posted
Posted
The choice is yours, but I have three giant safe deposit boxes that I pay

only $150 a year for all...

 

$60 a month = $720 a year

 

I would rather take that $570 extra savings and just go visit the comics at the SDB

whenever I wanted.

 

Seems like a no brainer to me, but to each his own.

 

 

:cloud9:

 

Really? For $500-$600 I'd rather have the books in front of me to enjoy rather than collecting dust where I can't access them when I want. If you can't enjoy or share them what's the point. Besides for the amount of parcels I ship in a year the CIA coverage would more than pay for itself. (shrug)

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Bomber-Bob

Bomber-Bob

Posted
Posted

Regarding CI, you are covered at multiple locations. Say you have 50K in blanket coverage, you are effectively doubling your coverage by having a Bank Safety Deposit Box. Personally, I have 3 Safety Deposit boxes at multiple Banks and a Home Safe. I rotate the books and visit them. When I tell my wife I an going to see Peter Parker she knows what I am talking about.

 

IMG_0833.jpg

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DR.X

DR.X

Posted
Posted
(worship)

 

I have no idea how many of these are out there, but I haven't seen many in higher grade.

 

First prints are definitely a low census population book (only 26), and only five grade higher than yours (thumbs u

 

I thought my copy was a 9.4 for sure. (shrug)

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Brian48

Brian48

Posted
Posted
House is alarmed and so is the safe. It's also bolted to the floor. I know thieves can get into anything if they have the time, but I prefer my books close by. Just my opinion though.

 

Mine is similar. Fully loaded, I'd say it's about 500+lbs. The gauge of the steel is satisfactory. Located in the basement where it would be near impossible to walk off with. Actually had the safe put in before construction was complete.

 

safe.jpg

 

I am a little paranoid about moisture though, which is why I have 5 mini dehumidiers in there as well. Thought about getting a bigger one, but I'm not sure how I'd get this one out and the other one in at this point.

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Beige

Beige

Posted
Posted
Solved my problem.

 

 

safepics2012003-1.jpg

 

OOOh Dr X - is that a PGX slab I spy.....

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