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
Sirkit, you’ve hit upon one of my pet peeves. YES!!!!!! It is a SAFE deposit box because it is safely deposited in the vault. “Safety deposit “ is one of the biggest misnomers out there, but it is said all the time. Your post is so precious I’m going to print it out and store it in the wall safety here in my office
The floor where the vault was located has started sagging into the basement?
So what kind of money/currency is NOT collectible? If you have some you are tired of holding on to I’m sure you could find someone to take it off your hands.
So were coin collections.
I would just claim that all my coins were collectables.
You can’t store bitcoins in a safety deposit box, silly.
You store safety in a safety deposit box.
You store bitcoins in a safe deposit box.
Or maybe you store safes in them. I’m not sure.
So were coin collections.
And if you had a roll or two of quarter eagles ($2.50) and dates matched, that was viewed as evidence of hoarding as opposed to collecting.
FDR just wanted to change the down turn to a full on depression so he could seize more power for the Alphabets.
Ahem, regular nails won’t work with a good detector. They differentiate between ferrous and non-ferrous. If you want to do that bury the gold deep and sprinkle aluminum nails into the hole as you refill it. Lots and lots of aluminum nails.
“Gold is heavy”
LOL!!
If somebody has so much gold it can’t be lifted, their name is Warren Buffet. 99% of the people could convert their life savings to a handful of coins.
Seriously, it is amazingly compact, valuable stuff. That’s why it has been money or the store of value par excellence for thousands of years.
“It is a Federal Rule”
Says who? Whether or not it is a good idea to store valuables in a safe deposit box is another matter, I suppose.
Where is this federal rule? What is the proponent agency?
I worked for a jewelry manufacturer during the late ‘60s. The rules and paperwork for manufacturing with gold were incredible.
Have had several clerks/tellers complain in the past about the weight of my safe deposit box. Perhaps because they are on a step stool and unprepared for the weight when they pull the box out.
Banks do not insure contents of safe deposit boxes. They have some liability in the case of negligence (They leave the vault open over a 4 day weekend, say) but I doubt it’s ever been tested in court. “Here’s $500 and a new toaster. Go away.”
$10,000 fine is equivalent to $625,000 at today’s gold price.
Guess they were serious about “gold hoarding”! So serious, they confiscated 20,000 tons of it from the American people, and then put it all inside a vault at Ft. Knox.
Presumably, that’s not “hoarding”.
Maybe, but I’m willing to bet it wasn’t due to the weight of gold bullion.
Great idea. Now I have to go check out those old nails in the woods I left behind.
Land of the free....!
Gold coins. Lots of ‘em.
A burglar can pick it up in a hurry too.
It is a real good idea to bolt it to the floor if you have not already. I saw a TV show once done by a former burglar who stated they always carried a hand truck for lifting up safes and carrying then out to their van/truck.
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