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What would you do if you had jewelry worth millions? At first blush, a safe deposit box seems utterly logical. Even after reading the article, I can't think of

What would you do if you had jewelry worth millions? At first blush, a safe deposit box seems utterly logical. Even after reading the article, I can't think of any alternative other than avoiding Wells Fargo.

perlgeek 7y ago
Buy a safe in your own house, and then get insurance? Or rent a safe box and get separate insurance?
- deleted 7y ago
  [deleted]
- behringer 7y ago
  Insurance can't replace family heirlooms or unique works of art. Where do you keep this stuff safe?
  - acollins1331 7y ago
    If you have millions of dollars you store it in your house and spend the money to fireproof and thiefproof it.
  - ghaff 7y ago
    Safety is a relative measure. Especially if your objective is to enjoy an article rather than stick it in a hopefully secure box somewhere.
    - behringer 7y ago
      Well that's great but it doesn't answer the question. Let's say it's something you don't need to enjoy except when you want to pull it out of storage.
      - ghaff 7y ago
        Well, you either store it securely or have someone else do it for you. With the caveat that no amount of security systems and safes are going to be 100% effective against all manner of theft, accident, and natural disaster. In addition to having insurance, you just have to evaluate the options and make your trade offs.
  - kd5bjo 7y ago
    > Where do you keep this stuff safe? On display in your home or a museum. A painting that can’t be seen is just a stained piece of canvas.
    - NikolaeVarius 7y ago
      That may be worth a lot of money due to perceived value being the thing that gives it worth, versus aesthetics or whatever you get out of looking at a painting.
fencepost 7y ago
I would not be surprised if some jewelers offered secure storage of this sort as a service once you hit a certain level. There may also be a significant difference in the services offered in "consumer" banking and "private banking for high net worth individuals."

perlgeek 7y ago

Buy a safe in your own house, and then get insurance? Or rent a safe box and get separate insurance?

deleted 7y ago
[deleted]
behringer 7y ago
Insurance can't replace family heirlooms or unique works of art. Where do you keep this stuff safe?
- acollins1331 7y ago
  If you have millions of dollars you store it in your house and spend the money to fireproof and thiefproof it.
- ghaff 7y ago
  Safety is a relative measure. Especially if your objective is to enjoy an article rather than stick it in a hopefully secure box somewhere.
  - behringer 7y ago
    Well that's great but it doesn't answer the question. Let's say it's something you don't need to enjoy except when you want to pull it out of storage.
    - ghaff 7y ago
      Well, you either store it securely or have someone else do it for you. With the caveat that no amount of security systems and safes are going to be 100% effective against all manner of theft, accident, and natural disaster. In addition to having insurance, you just have to evaluate the options and make your trade offs.
- kd5bjo 7y ago
  > Where do you keep this stuff safe? On display in your home or a museum. A painting that can’t be seen is just a stained piece of canvas.
  - NikolaeVarius 7y ago
    That may be worth a lot of money due to perceived value being the thing that gives it worth, versus aesthetics or whatever you get out of looking at a painting.

fencepost 7y ago

I would not be surprised if some jewelers offered secure storage of this sort as a service once you hit a certain level. There may also be a significant difference in the services offered in "consumer" banking and "private banking for high net worth individuals."