Goldin Vault vs. PWCC Vault

[blametony]

I'm seriously considering moving my high end cards to one of the vault services. My main reasons are to save on my insurance costs ($500+ per year) and to be able to sell easily when I want to.

I was curious if anyone has any experience with either. I read that PWCC has no seller or consignment fees and actually offer a bonus for cards sold over a certain amount. Does Goldin still charge seller fees?

If anyone has any info on either service, I'd appreciate it. Thanks!

[Johnny630]

Avoid get yourself a safe deposit box. :-)

[blametony]

Originally Posted by Johnny630

Avoid get yourself a safe deposit box. :-)

Why?


Sent from my iPhone using Tapatalk

[Johnny630]

Originally Posted by blametony

Why?


Sent from my iPhone using Tapatalk

My View is these as my cards I don’t want them in someone else’s hands, especially someone (PWCC, not talking GOLDIN)who got kicked off eBay, maybe under federal investigation for various reasoned mentioned at nauseam on this board and other platforms.

The Avoiding Sales Tax thing is not worth it to me because I rarely if ever buy online or from auction houses so it would be a nominal savings for me.

Number 1 reason my cards I want access and security.

[blametony]

Originally Posted by Johnny630

My View is these as my cards I don’t want them in someone else’s hands, especially someone (PWCC, not talking GOLDIN)who got kicked off eBay, maybe under federal investigation for various reasoned mentioned at nauseam on this board and other platforms.

The Avoiding Sales Tax thing is not worth it to me because I rarely if ever buy online or from auction houses so it would be a nominal save for me.

Number 1 reason my cards I want access and security.

Gotcha. I do buy a good amount from eBay and other online auctions so the ability to avoid sales tax in a nice perk. Additionally the $500 per year savings off my insurance is a big factor.

Do you insure your collection?

[swarmee]

Originally Posted by blametony

Gotcha. I do buy a good amount from eBay and other online auctions so the ability to avoid sales tax in a nice perk.

Get a resale certificate then.

[Foo3112]

There is no way I am going to spend money on a high dollar card just to cheap out in the end and send to somewhere else to avoid the sales tax. If I purchase something, I want to at least hold it and have it in my possession for a certain amount of time. After that, it goes into my safe deposit box. I have two. I have had them for years and I have never had an issue. I do not insure them because it's pretty safe. It takes two different keys to open it. The bank has one and you have the other. It's pretty safe and I love that I have access to my cards whenever I want (within banking hours) and I have never had an issue accessing my boxes.

As far as PWCC, yes - they get a lot of hate and for the obvious reason (as they should) but those who do have cards with them in their vault have only good things to say about the process. Still, I wouldn't store with them, Goldin (who are also scum) and bid up prices or report fake sales *86 Jordans* in order to pump up the market. I want my cards close to me for the all the reasons above.

Some banks may not have safe deposit boxes available so you may have to call different branches or just call every day until they have one available but thats the route I took and I am very happy.

[swarmee]

Originally Posted by Foo3112

After that, it goes into my safe deposit box. I have two. I have had them for years and I have never had an issue. I do not insure them because it's pretty safe.

There are some real horror stories of people who had the same idea you did. Acts of God (tornados, floods, hurricanes, fire, etc) hit banks and safe deposit boxes. Collectibles insurance is still worthwhile even if you have them stored.

[isiahfan]

What about fireproof/waterproof safes as an option? Insurance for what I have is more than car and house insurance combined.....and it is a one-time cost.

[blametony]

Originally Posted by isiahfan

What about fireproof/waterproof safes as an option? Insurance for what I have is more than car and house insurance combined.....and it is a one-time cost.

I do have my cards in a fireproof safe. It helps with the insurance rates, but I would still keep insurance, even with a safe.

[MattyC]

I go safety deposit box and insured (Collect Insure). I sleep real well with both.

[rjackson44]

Horrible idea

[Rhotchkiss]

I have never used a vault service. But that’s just bc I want my cards with me. If you don’t mind not physically possessing your cards, I see no problem with using a vault, either PWCC, Goldin or anyone else (I think REA may have one too). Especially for the reasons you state- no sales tax (assuming it’s in a no tax state), no need to insure, ease of resale (if you like the AH/Vault) and you probably get a break on fees. I think the vault is a great idea for investors or collectors who don’t need the physical card - I bet in the old days people would have loved to pay some secure 3rd party to hold their paper stock certificates.

[bnorth]

Either choice would be excellent. Both have done so many great things to advance the card industry.

[notfast]

Is not being able to handle/touch your cards worth $500 a year savings? Nope. Not at all IMO.

Plus your insurance covers other stuff as well.

[bnorth]

Originally Posted by notfast

Is not being able to handle/touch your cards worth $500 a year savings? Nope. Not at all IMO.

Plus your insurance covers other stuff as well.

As a collector I agree with the bold part. Now if you are just in it to make money and avoid taxes why would you even want to see them let alone have to care for them?

[Leon]

Originally Posted by bnorth

As a collector I agree with the bold part. Now if you are just in it to make money and avoid taxes why would you even want to see them let alone have to care for them?

I like to smell and fondle my cards. Can't do that if I don't have them.
.

[D. Bergin]

Originally Posted by bnorth

Either choice would be excellent. Both have done so many great things to advance the card industry.

LOL, I especially love the little scam some vault owners run, where they buy your item on Ebay using their vault address to avoid sales tax, and then ask you to ship to their physical address, so they can have it in their hands anyways.

It's just fantastic!

[icurnmedic]

Originally Posted by D. Bergin

LOL, I especially love the little scam some vault owners run, where they buy your item on Ebay using their vault address to avoid sales tax, and then ask you to ship to their physical address, so they can have it in their hands anyways.

It's just fantastic!

Not possible, if the seller is smart.
Must be shipped to the "Vault" to avoid taxes.

Absolutely not aimed at anyone particular.

[parkplace33]

Are there costs associated with having your cards in either vault?

[icurnmedic]

Originally Posted by parkplace33

Are there costs associated with having your cards in either vault?

Yes, not very much, but there is a cost. Adds up though if the portfolio value is high.

[GasHouseGang]

Of course, safety deposit boxes aren't without risk. If some natural disaster did occur, the contents are not insured by the bank. This is a picture of a bank cleaning out the safety deposit boxes after Hurricane Katrina.