Goldin Vault

[BobC]

Originally Posted by Peter_Spaeth

I'm not sure you're renting a specific space in one of those vaults, as opposed to just making a bailment to the vault owner to store your cards for you. Until someone corrects my interpretation of the UCC which seems clear on its face I am standing by it in terms of consignment vs. bailment and UCC filing requirements. I do agree safety deposit boxes and storage lockers are in a different category for the reason you are obtaining righs with respect to a specific space, like a lease.

Believe me, I get that this is not a straightforward question with an easy, simple answer. And exactly why I was asking specific, detailed questions such as if a "vault" operator did have separate, sealed boxes or spaces where they stored a person's cards/items, instead of just putting everyone's stuff on the shelves in one big room or warehouse. Was being persistent with the questions to see if there was a particular scenario and set of circumstances from a legal standpoint where a person using a "vault" could be safe from seizure in the case of bankruptcy by the "vault" operator. And yes I know, probably a lot of people reading this stuff are wondering why should we be wasting time talking about something like this because the chances of one of these "vaults" actually going bankrupt is extremely remote. But if one of the "vault" operators is still involved with and potentially under an ongoing FBI investigation, that could possibly change the odds, right?

So in that case, if I was someone on this forum reading this, and also using such a "vault" service to hold my valuable cards/items, I may want to double check with that "vault" service to make sure they were set up and operating in such a specific manner so as to protect my valuable cards/items from such seizures. And if I found out they weren't protected, I may seriously want to look into making protective UCC filings just to be extra safe, or maybe look into doing something else entirely.