What do you guys do with your most valuable collectibles?
Paying a bit extra for “special” insurance that covers stuff like collectibles is a cheaper option for me and it covers all cards and whatnot, but if my stuff gets yoinked/destroyed its gone.
Vs.
That wouldn’t happen in EG. a bank safe where you probably wouldn’t be able to fit all your stuff anyways (idk how it works completely, I just know its a much more expensive option)
Safes at home with collectibles and home insurance. More concerned about fire / flood / natural disaster than theft. But at some point in value will probably start looking into bank storage.
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What kind of safes do you use? My collections value also makes me think getting into bank storage is a bit of an overkill, however, the price of investing in proper safes also seem like it’d be a lot more expensive than EG. bank storage.
Currently I’m using a gun safe, because it’s convenient being able to put shelves in it and stuff, but as I look to expand collections it’s not ideal having multiple of them in a small apartment with limited space…
@mads, crap ones from Home Depot for documents fire proofing, I need to upgrade. Main issue is my binder collection takes up way more space than PSA cards so a safe that fits them would be large and heavy and I store cards currently on 2nd floor walkup.
I think placing your collection in a fireproof/waterproof safe is the best option, preferably one of high quality.
I once looked into the possibility of insurance and the bottom line is that it’s just not worth it. There are very few options available and the rates they charge add up to over 10% of the value of your collection within a couple of decades and that doesn’t even cover theft.
I just bought a nice medium-sized Sentry safe (fire/waterproof). Fits up to 6 sealed WOTC boxes. However, I kind of regret not buying the large one now, as I would like to store my PSA cards that aren’t on display somewhere other than my Pelican case.
Renter’s/home insurance plans usually have a maximum limit for collectables. Expect around high hundreds or low thousands. Insurance specifically for collectables is not easy to find and hardly worth it.
Storing at a bank might be the safest option but you’re also sacrificing the ability to see your cards easily.
A safe is mostly an illusion of security. A small safe you can pick up is basically a target for theft. While they offer some protection from fire and flood, its pretty limited for example if the fire were to get too hot or last too long. An improperly used waterproof safe can actually cause damage to your cards since you are trapping in moisture that can condense as water on your items. This is particularly an issue for smaller safes.
There’s no silver bullet but obviously you can do things to mitigate risks. Store your cards up high if there is a risk of flooding. Safes offer some fire protection, get a large one and air it out periodically. Use a bank deposit box. Or maybe one if the best things to do is split up your collection to multiple physical locations. That way a catastrophic event can’t wipe out your whole collection and now you can potentially take advantage of 2 home insurance collectible coverage
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I’ve been thinking about moving some collectibles to a bank. Part of what I’m working on for that these days to mitigate the issue of not having access to your own cards is to try to collect cards I like in both a PSA 10 and a PSA 9 version. That way, I could have my safe collection of cards in PSA 10 stored away and have less valuable 9s on hand (which I personally enjoy pretty much just as much).
I constantly read that Sentry safes are some of the worst on the market
www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html
tl;dr Your life-long collection can be destroyed by a simple paper pusher’s number mixup
Yeah Sentry safes are really just for fireproofing/maintaining condition rather than keeping your valuables safe from burglars sadly
Give them to me. Hey, it’s your stuff. I mean, I’m just holding it for you, like a bank. Except better than a bank, 'cause you know banks always get knocked off. No one knocks me off.
Oh really? I don’t know a lot about safe brands. I just watched a few reviews on YouTube with them being compared to other safes, and I’ve heard the name before. I need a bigger safe anyway, lol.
I don’t trust safety deposit boxes. I once put a 1st ed base charizard psa 8 in one for 18 months without any silica packs. When I went to retrieve it. It had frosting on the front of the case which was not there before (mabye 3 percent of the front had frosting,) the card was a little warped which it was perfectly straight when I put it in and it no longer rattled inside the case which it used to rattle alot.Plus i put gold coins in a safety deposit box (Canadian Pure Gold Coins 99.99 Purity). It developed red spots on it if anyone is interested I can post a pic of coin. I tested the coin before and after its not a fake.
My Bank definitely did not have climate and humidity control.
Next time i put my cards in storage I will research if the storage has climate and humidity control.
I’m thinking of using this service.
www.ultra-vault.com/fine-arts-storage/
Its 30 Minutes from where I live and they deliver.
any ideas?
Maybe it’s different in Denmark where I’m from. My insurance is an extra insurance for “special” things such as art, designer furniture, collectibles what not. Pre buying the extra it’s items up to roughly 7k usd and with my insurance it’s up to 90~k which is plenty for me lol.
As for risk it’s mainly people robbing the place at home or fires, so you’re definitely right about small safes. My gun locker they would not be able to yoink from my apartment, but they could probably break into it.
You made some valid points though thank you for contribution
Like pfm mentioned in case of thieves come those seem like the first thing they would go for.
@mads I have theft insurance for collectibles. Frankly if someone breaks in to my house I would rather they take what they want than endanger myself. I use silica gel packs in my safes which I strongly recommend.
I diversify my card locations just like I diversify my stock portfolio. I keep my collection spread out in several locations. Never good to have it all in one place. Home safe, safety deposit boxes, safe of a trusted friend/family member etc.
Does that apply to Collectible Insurance Services?
Are PWCC vaults worth it? I’m not sure how much they cost but they say their safe is state of the art, etc etc.