Banks & Security

I advise coin collectors to store their most valuable rare coins in a safe deposit box at a bank or security center and then "don't be predictable when going there." Bear in mind that professional coin dealers do the same thing as part of their regular business practice, especially with their more valuable rare coins, or with gold and platinum bullion coins.

Protecting Your Gold Coins From Theft & Weather

I would specifically warn collectors and business owners who live in hurricane prone areas to use safety deposit boxes for their most valuable coins. Just ask the victims of Hurricane Ike, which hit Texas in 2008, leaving hundreds of houses and their contents open to looters, or destroyed.

If you are going to keep rare coins or bullion at home to enjoy, which is understandable, here are some helpful tips to reduce the chances they will be stolen.

1. Buy a safe that is too heavy for thieves to easily carry off. Secure it to the floor if possible. Time is your friend in a robbery.
2. Make sure your safe offers adequate protection from fire, too.
3. Be careful about who you tell about your collection and its value.
4. Check your coin insurance coverage with your homeowner’s policy. Make sure it covers collectable value. List and photograph your most valuable coins for insurance purposes.
5. Don’t leave your collection out so children, maids or workers can see them and access them. Many a rare coin has ended up in vending machines thanks to son’s or daughter’s needs and ignorance.
6. Get to know your neighbors well and watch out for each other. Have the Post Office hold your mail while you are out of town; and have coin-related material sent to a post office box.
7. Don’t let newspapers pile up, or snow remain undisturbed in winter, or your yard unmowed in summer, or leave advertisement hangers on door knobs.
8. Keep your doors and windows locked and routinely check them again. A common burglar may enter through an unlocked garage door or back door.
9. Make sure your locks, doors and frames are well made and solid.
10. Don’t leave boxes from expensive purchases in the yard for pickup.
11. Don’t announce vacations on Facebook, MySpace, or any other public forum.
12. Don’t have your alarm control where it is easily visible to see if it’s set.
13. A loud television or radio can be an effective deterrent if left on.



To further deter robberies:

14. Loud dogs also deter thieves.
15. Don’t store your coins in your bedroom or medicine cabinet as thieves usually go there first.