Tips for Safety Deposit Boxes?

[RunningwithScissors]

I've never had a safety deposit box before, but I'm thinking about getting one. Mostly it will be to store my jewelry when I'm traveling.

Does anyone have any advice, or does & don'ts for getting one, and storing valuables?

Thanks!

 

[Polabowla]

Don't forget you have one & don't lose the key

 

[chrono]

Don't store opal and pearls in there. Jewellery boxes take up a lot of room so I will try to put a few pieces into one box but separate each one by wrapping them in cotton first before storing them together. For loose gems, I put 2 or 3 into a padded gem box to try to save space. They are not touching or rubbing each other.

 

[seaurchin]

I know that pearls and opals shouldn't be stored for too long in a safe or safety deposit box because they get dried out and can crack. But I don't know how long "too long" is though. However, I once left a lot of pearls of different types in a safety deposit box for about six months and they seem fine.

Also, the safety deposit box does not come with insurance from what I read, so reconsider if a bank is in an area that's prone to floods, hurricanes, fires, crime or whatever.

ETA: Cross-posted with chrono re opals and pearls...

ETA: If you want someone else to have access to the safety deposit box, at my bank anyway, I was told they'd have to come in with me in person to be added on.

 

[seaurchin]

Oh, also of course take care when putting things in or taking them out, being aware of who is in your surroundings and trying to keep the items as inconspicuous as possible.

 

[chrono]

At my bank, I get to take my box and do whatever stuff I want in a small room that I can lock so 100% privacy. I carry my stuff in my pockets or bag so nobody can see what I plan to put in or take out of the box.

 

[Elizabeth35]

Obviously, you need to insure your jewelry via homeowners policy.
Other than that, think through the days/hours that you can access. Safety deposit boxes are fairly inconvenient.how far do you have to drive and how soon before your trip do you have to plan to go?
It wouldn’t be my primary plan for travel as usually we are quite busy prior to a trip and planning a trip to the bank during business hours adds one more piece of work.
We use a home safe and good insurance.
We travel 8-10 times per year so it would be inconvenient. If you travel once per year maybe not such a big pain.

 

[canuk-gal]

HI:

I always check the surroundings very carefully when I pack up the box. Easy to drop stuff on the floor--I have!

cheers--Sharon

 

[OdetteOdile]

Hi @RunningwithScissors have you seen this article on safety deposit boxes? I'm not trying to dissuade you, but thought you might find it of interest.

Safe Deposit Boxes Aren’t Safe (Published 2019)

When Philip Poniz opened Box 105 at his local Wells Fargo, he discovered it was empty — and that he was totally unprotected by federal law.

www.nytimes.com

 

[kenny]

Don't forget to put me on the access list.

 

[Gemstonesrock]

I'm late to the party regarding this thread! Did you make a decision? I do currently have a safe deposit box at my local bank, but I am not sure if I need it now that I have a hefty home safe installed and now that all my jewelry pieces valued at or above $1,000 are insured. (I sheepishly admit that despite the value of my collection, almost all of my jewelry was not insured until 2019.)

If you don't have a home safe, it's probably worth getting the safe deposit box for your jewelry while you travel. I'd suggest keeping a record somewhere on your laptop or mobile phone to remind yourself of the contents. I would literally forget what I put in my safe deposit box.

Before I got my home safe, I would rarely go to make exchanges of jewelry at my bank safe deposit box. I found it to be just enough of a pain (my branch is a small one that closed early on weekdays and was closed on weekends). I was also nervous about having fine jewelry on my person when making swaps. So what would happen is I would stash jewelry there and then almost never retrieve it. This is how I managed to have my beloved unheated Burma ruby (aka Nandar) sit and sit, waiting to be set for 10 years (!!!).

These days I only keep in the safe deposit box some cash and jewelry that I inherited but don't really wear.

 

[RunningwithScissors]

I'm late to the party regarding this thread! Did you make a decision? I do currently have a safe deposit box at my local bank, but I am not sure if I need it now that I have a hefty home safe installed and now that all my jewelry pieces valued at or above $1,000 are insured. (I sheepishly admit that despite the value of my collection, almost all of my jewelry was not insured until 2019.)

If you don't have a home safe, it's probably worth getting the safe deposit box for your jewelry while you travel. I'd suggest keeping a record somewhere on your laptop or mobile phone to remind yourself of the contents. I would literally forget what I put in my safe deposit box.

Before I got my home safe, I would rarely go to make exchanges of jewelry at my bank safe deposit box. I found it to be just enough of a pain (my branch is a small one that closed early on weekdays and was closed on weekends). I was also nervous about having fine jewelry on my person when making swaps. So what would happen is I would stash jewelry there and then almost never retrieve it. This is how I managed to have my beloved unheated Burma ruby (aka Nandar) sit and sit, waiting to be set for 10 years (!!!).

These days I only keep in the safe deposit box some cash and jewelry that I inherited but don't really wear.

Thanks Gemstonersrock, all good points to consider.

 

[yssie]

Tip for safety deposit boxes - Dampit or Stretto!! They’re strings instruments humidifiers - soak them and leave them in your box - at my bank in my box and they don’t get bone dry for a couple weeks. I worry much less about leaving pearls and opals in there!

 

[icy_jade]

I recall an incident where a bank accidentally destroyed some boxes:

Bank accidentally destroys 83 safety deposit boxes

amp.smh.com.au

Many years ago but I recall thinking that it must have been traumatic for the clients involved.