Precious metals in a safety deposit box question

[MarkFeld]

I believe that the chances of your gold being confiscated from your deposit box are far less than those of your losing it by some other means if you don't keep it there.

[CHABSENTIA]

I actually had an experience when I was in the Navy and transferred from Italy to the U.S. My Wife who is an Italina that was born there has a lot of Gold Jewelry.Italians are big hoarders of Gold. One item is a Bracelet that goes 3/4 around the wrist and is made of hollowed out oval gold links .

 

In Italy it is against the Law to take Gold out of the Country. In this case I was going from the Airport in Rome to the Military Airport in Philadelphia PA.

 

I put the Gold in a locked suitcase and it was put on the Plane without going through Customs. This would probably be a problem today.

 

When I arrived in Philly the guy in Customs asked me if I had anyhting to declare and I told him my Wifes Jewelry and he just nodded.

 

When we got settled in Florida I told her that the first thing I told her was that we needed to put them is a Safety Deposit Box. She was apprehensive as in Italy there are numerous House B reak ins and any portable Gold is wrapped up and carried with them.I assured here it was fine but every day she would go to the Bank and look inside to make sure the Gold was still there.

 

[RWB]

Chabsentia:

Yikes!! I would not want to trust any valuables to the security of your bank!

[CHABSENTIA]

I thought about this when I first heard about it.I had them walk me through it.I would go to the Bank and have to wait for somebody to sign me in.Most Banks do not have a person for just this anymore so you have to wait until a Bank Officer is free.

 

After you are Finished you have to wait for a Bank Officer to be finished to go with you and lock up your Box.

 

I have done this for almost a year and only had one problem of which I was unaware.If the lock where the key is broken off is rotated then the locks are not lined up and you can't open the Box.

 

My Wife does not have her Gold in there anymore. She feels safer in our House with everything etc. I did show her the Safety Deposit Box and told her if anything happened that all she had to do was go to the Box and open it and didn't have to see anybody.

 

Bank is pretty Big and they have been doing this for soem time.