card in bank safe deposit box

[g_vezina_c55]

Originally Posted by ALR-bishop

I was an executor for my Uncle's estate in 1993 in St Louis. At the time he died St Louis was experiencing severe flooding. His bank was cut off and partially flooded, including the safety deposit vault. When the flood receded and I was able to get to the box, it turned out to be at the top part of the vault and was undamaged. But boxes half way up the vault were flooded and virtually all papers in them destroyed or damaged.

I am a volume set collector and do not keep my cards in a SDB, but do have a large box with a lot of papers and documents. I now am sure that the bank I use is not in a flood plane, I check to see what happens if there is a fire in any portion of the bank ( how sprinklers operate in vault), and if they keep the air conditioner going on weekends and evening, and to what degree

But with cards in Graded holder + in sealled bag, the damage by water is almost impossible.

[frankbmd]

1. The size of your collection of old cardboard



2. A large collection of raw cards can be accomodated in a modest SDB



3. But if you have a larger collection of graded cards, you may need this



4. Then of course you need to find a bank with a very large vault.

[Exhibitman]

Actually, the insurance available for cards usually covers them in a SDB, and usually to the full limit of liability at each SDB you have. Insurers absolutely love it if you keep insured items in a SDB because the likelihood of loss from theft is virtually nil but the policy premium stays the same as though they were at your home.

I've had a SDB for 30+ years for my favorite/best cards. I tend to visit them once a month or so. For me it is a cheap way to be sure that any catastrophic loss at my home--such as a fire--doesn't destroy everything.

As for humidity, bank vaults are typically climate controlled. I put a few of the silica dessicant gel packs into my SDB just in case.

[T206Collector]

Originally Posted by Exhibitman

Actually, the insurance available for cards usually covers them in a SDB, and usually to the full limit of liability at each SDB you have. Insurers absolutely love it if you keep insured items in a SDB because the likelihood of loss from theft is virtually nil but the policy premium stays the same as though they were at your home.

Really? One of the reasons I stopped using Collectors Insurance was because of that exclusion. Maybe I misread it.

[MattyC]

Originally Posted by T206Collector

Really? One of the reasons I stopped using Collectors Insurance was because of that exclusion. Maybe I misread it.

I was also informed by my insurance agent that they will not issue me a policy for cards in a SDB. That said, I still prefer an SDB to home storage.

[25801wv]

I wish I had this problem.

[LEHR]

I'm not knocking anyone's choice for storing or protecting there collectibles but I've personally never understood why anyone would want to store there cards in a SDB. If you need the piece of mind that your collection is safe why not buy a nice home safe for $2-$3k and keep your collection in house? If you bought an expensive piece of art would you not hang it on your wall, or inside of your local bank vault? Again, not criticizing anyone's protection methods just throwing in my two cents.