Safe Deposit Box Location

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Ad Orientem
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Re: Safe Deposit Box Location

Post by Ad Orientem » Sat Jul 28, 2018 2:04 pm

Everybody has their anecdotal horror stories. But what you want to look at are statistical probabilities. There is no 100% guaranteed safe form of storage, but a safe deposit box is in almost all circumstances going to be safer than any form of home storage. I don't care how bad ass your home safe is, when they have a gun to your daughter's head and tell you to open the safe, well that's what you are going to do. Keeping any substantial stockpile of gold/silver/cash around the house is a really bad idea. Do things sometimes go wrong with safe deposit boxes? Yes. What is the realistic level of danger? Not enough for me to lose sleep over it. That said I do check every six months or so, just to be sure. Could the planet lose all electric power from some freak solar event? Yes. But from a statistical point of view you would be better of spending your time planning how to spend/invest your powerball winnings.
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Re: Safe Deposit Box Location

Post by hardlawjockey » Sat Jul 28, 2018 4:48 pm

Ad Orientem wrote:
Sat Jul 28, 2018 2:04 pm
I don't care how bad ass your home safe is, when they have a gun to your daughter's head and tell you to open the safe, well that's what you are going to do. Keeping any substantial stockpile of gold/silver/cash around the house is a really bad idea.
This is basically why I decided against a home safe of any kind. I even thought about employing a "fake safe" filled with washers to sound like coins along with worthless paper, but that presents the same problem as a real safe. You are still advertising the presence of valuables. If the burglars figure out your deception they are going to ask "okay, where is the real safe?".

I still think "hiding in plain site" without a safe is a safer alternative. I don't see how there could ever be any statistics to prove me right or wrong but I tend to think that you would be far less likely to have your gold stolen this way, as long as you keep it its presence a secret.

Obviously you don't want to store it on a boat that can sink, however (though apparently some people here have).
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Re: Safe Deposit Box Location

Post by ochotona » Sat Jul 28, 2018 7:13 pm

Ad Orientem wrote:
Sat Jul 28, 2018 2:04 pm
Everybody has their anecdotal horror stories. But what you want to look at are statistical probabilities. There is no 100% guaranteed safe form of storage, but a safe deposit box is in almost all circumstances going to be safer than any form of home storage. I don't care how bad ass your home safe is, when they have a gun to your daughter's head and tell you to open the safe, well that's what you are going to do. Keeping any substantial stockpile of gold/silver/cash around the house is a really bad idea. Do things sometimes go wrong with safe deposit boxes? Yes. What is the realistic level of danger? Not enough for me to lose sleep over it. That said I do check every six months or so, just to be sure. Could the planet lose all electric power from some freak solar event? Yes. But from a statistical point of view you would be better of spending your time planning how to spend/invest your powerball winnings.
Very unlikely to lose anything from a SDB, and you can insure the loss! 100% certainty of no loss then. Between Chappell Hill Bank, Delaware Depository, I don't lose any sleep. But I can't forgot that boating accident when I lost all the rest of my gold in Loch Ness, Scotland.
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Re: Safe Deposit Box Location

Post by eufo » Sat Jul 28, 2018 7:37 pm

ochotona wrote:
Sat Jul 28, 2018 7:13 pm
But I can't forgot that boating accident when I lost all the rest of my gold in Loch Ness, Scotland.
You too? That place is cursed. O0
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Re: Safe Deposit Box Location

Post by Xan » Sun Jul 29, 2018 4:14 pm

ochotona wrote:
Sat Jul 28, 2018 7:13 pm
Very unlikely to lose anything from a SDB, and you can insure the loss! 100% certainty of no loss then. Between Chappell Hill Bank, Delaware Depository, I don't lose any sleep. But I can't forgot that boating accident when I lost all the rest of my gold in Loch Ness, Scotland.
Insuring a safe deposit box, in addition to greatly increasing the carrying cost of gold, seems to defeat some of the advantages of gold, namely:

* It's entirely outside The System (TM)
* You don't tell anyone you have it
* If you're inclined to take advantage of it (which I am not) there may not be a practical way for government to enforce the paying of taxes on gains

Also, I wonder about the practicality of insurance. It seems that in almost every case, there would be some reason for the insurer to deny your claim. I suppose if a hurricane destroys the bank completely, it's pretty unambiguous. But no matter what, you can't prove that you didn't just take the gold out. And in a situation like the article I linked to earlier, when the bank is claiming that proper notification was done, would insurance actually pay out?

I guess I would like to see some documentation, and some statistics, of insurance actually paying out for a safe deposit box problem. Because I'm basically skeptical that it ever happens.
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Re: Safe Deposit Box Location

Post by dualstow » Wed Aug 01, 2018 8:29 am

My dad has a large old safe where I keep my few coins that are not at the bank.
Once it broke and he had to call the company to come fix it. That made me nervous.
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Re: Safe Deposit Box Location

Post by Jack Jones » Fri Aug 03, 2018 2:45 pm

hardlawjockey wrote:
Sat Jul 28, 2018 4:48 pm
I even thought about employing a "fake safe" filled with washers to sound like coins along with worthless paper, but that presents the same problem as a real safe. You are still advertising the presence of valuables. If the burglars figure out your deception they are going to ask "okay, where is the real safe?".
You want to put some valuables in your fake safe so when you open it the burglars are satisfied. A friend who went to school in a bad part of town used to do this. He had a fake wallet w/ $40 in it.
hardlawjockey wrote:
Sat Jul 28, 2018 4:48 pm
I still think "hiding in plain site" without a safe is a safer alternative. I don't see how there could ever be any statistics to prove me right or wrong but I tend to think that you would be far less likely to have your gold stolen this way, as long as you keep it its presence a secret.
I'm not trying to be a dick, but you're not keeping its presence a secret if you advertise on the internet that you're hiding gold in your house. You went to Harvard Law school apparently and your IP address (City, State) is associated to this account. I doubt there are many Harvard grads in your area. At this point, it might be prudent to check out options #1 and #2.
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Re: Safe Deposit Box Location

Post by hardlawjockey » Fri Aug 03, 2018 3:55 pm

Jack Jones wrote:
Fri Aug 03, 2018 2:45 pm
hardlawjockey wrote:
Sat Jul 28, 2018 4:48 pm
I even thought about employing a "fake safe" filled with washers to sound like coins along with worthless paper, but that presents the same problem as a real safe. You are still advertising the presence of valuables. If the burglars figure out your deception they are going to ask "okay, where is the real safe?".
You want to put some valuables in your fake safe so when you open it the burglars are satisfied. A friend who went to school in a bad part of town used to do this. He had a fake wallet w/ $40 in it.
hardlawjockey wrote:
Sat Jul 28, 2018 4:48 pm
I still think "hiding in plain site" without a safe is a safer alternative. I don't see how there could ever be any statistics to prove me right or wrong but I tend to think that you would be far less likely to have your gold stolen this way, as long as you keep it its presence a secret.
I'm not trying to be a dick, but you're not keeping its presence a secret if you advertise on the internet that you're hiding gold in your house. You went to Harvard Law school apparently and your IP address (City, State) is associated to this account. I doubt there are many Harvard grads in your area. At this point, it might be prudent to check out options #1 and #2.
That's pretty cool that you think my username indicates I went to Harvard Law School. I never even thought of that, but I could be lying to keep my identity from being exposed.

Actually, it has something in common with "CrawlingRoad" but I probably shouldn't say that in case genius home burglars are listening and manage to figure it out.
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Re: Safe Deposit Box Location

Post by Desert » Fri Aug 03, 2018 4:04 pm

I thought everyone was aware that hardlaw is a professor at Liberty University.
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Re: Safe Deposit Box Location

Post by hardlawjockey » Fri Aug 03, 2018 4:11 pm

Desert wrote:
Fri Aug 03, 2018 4:04 pm
I thought everyone was aware that hardlaw is a professor at Liberty University.
OMFG! Now I really do have to hide my gold.
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Re: Safe Deposit Box Location

Post by Desert » Fri Aug 03, 2018 4:57 pm

hardlawjockey wrote:
Fri Aug 03, 2018 4:11 pm
Desert wrote:
Fri Aug 03, 2018 4:04 pm
I thought everyone was aware that hardlaw is a professor at Liberty University.
OMFG! Now I really do have to hide my gold.
O0
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Re: Safe Deposit Box Location

Post by dualstow » Fri Aug 03, 2018 5:45 pm

Clearly, it’s an anagram for “my gold is in my underpants drawer.”
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