Skip to comments.Safety Deposit Box
Posted on 06/14/2019 11:22:50 AM PDT by rcofdayton
Safety deposit boxes can no longer have gold bullion or non-collectible currency
I forgot to add: Does anybody know what this limitation is for?
Bank policy or federal “rules”?
For simple security why would you want it there where it can be seized?
Secondly...who would know?
It’s the result of intensive lobbying
by the US Association of Mattress Makers.
Hm. Of course, it is well to keep in mind that if you keep all your gold in a safety deposit box, it may become unavailable at a time you need it most...
This is the first I have heard of this. I don’t think it is a national thing, is it? I would think you should be able to keep it there if you wish.
Instead of paying a bank for a safety deposit box, we bought our own fireproof lock box that we can pick up in a hurry, if needed. Everything inside is obviously easy access.
Safe deposit box policy in your area may vary by bank. Storing money or bullion in your home (even in a safe) may not (probably not) be covered by homeowners policies.
Its not FDIC insured in there, and its easy for the feds to seize it claiming its money from money laundering operations. Not a safe place for it there.
Among the pros and cons, I had to
have a laugh at this one ...
Banks are in the business of lending, not storing. So you would worry whether your gold has been loaned out.
Like a bank is going to get into you SDB and lend out your gold.
What bank is this? Not asking for specific branch, but main bank name? Gold is heavy. Maybe the bank clerks were unable to lift some of the boxes?
I would suggest to call your bank and ask, as some were making the point: “is it a new federal rule or a bank policy”?
It it is a federal rule, one may infer from it that there may be another “you can’t own gold” law coming, or something like that.
Can you store your Bicoins there?
Asking for a friend.
“It it is a federal rule, one may infer from it that there may be another you cant own gold law coming, or something like that.”
That is highly disturbing. Another step towards full government control.
Bury it in your yard or somewhere accessible, so that if your house burns down or becomes in accessible, for whatever reason, you could still access it.
Well, I’m only making the inference assuming it is a federal rule. If it’s just a local thing, never mind. ;)
No, for those you need a bitbox. And a cloth.
It is not illegal to store gold or currency in a bank’s safe deposit box.
It’s stupid, but not illegal.
Buy yourself a big uncrackable safe. Load it with your valuables but leave out enough guns to be used to protect your safe.
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