A while back I was speaking with a gentleman who had several of his precious watches secured in a safety deposit box located at a Commonwealth Bank in the Brisbane CBD. You would expect that a safety deposit box is a pretty good place to have your precious goods secured. However, it seems that not all safety deposit boxes share the same equality in the eyes of the Banking God's. The gentleman with the watch collection explained that when he goes on a extended holiday he has to relocate his watches to another safe place in fear of Brisbane flood waters potentially flooding his collection. You would think this an extreme action to take, and you would expect a bank to take certain actions against fire or floods (or at least have a emergency evacuation plan of their customers goods in case of impending rising waters). After reading this article about documents stored in safety deposit boxes at the Lismore Commonwealth bank, maybe transferring your precious cargo may not be a bad idea.
https://www.northernstar.com.au/news/customers-not-banking-on-an-ethical-result/3204805/
Of course many of you would say that water may not effect gold or silver which is true to a degree - if it has no numismatic value. However, for those who are holding collections of graded or numismatic coins or any precious item located in a bank it's well be worth to quiz them on flood or fire damage or their evacuation program. As for those customers of the Commonwealth Bank Lismore they have been treated very poorly. Anyway, this post is just food for thought for anyone with goods retained in safety deposit boxes. I'm not deterring anyone from not having one, as they also have benefits. It's weighing up the situation and what suits the individual.
https://www.northernstar.com.au/news/customers-not-banking-on-an-ethical-result/3204805/
Of course many of you would say that water may not effect gold or silver which is true to a degree - if it has no numismatic value. However, for those who are holding collections of graded or numismatic coins or any precious item located in a bank it's well be worth to quiz them on flood or fire damage or their evacuation program. As for those customers of the Commonwealth Bank Lismore they have been treated very poorly. Anyway, this post is just food for thought for anyone with goods retained in safety deposit boxes. I'm not deterring anyone from not having one, as they also have benefits. It's weighing up the situation and what suits the individual.
