how and where you discuss them.
Remove all hints of numismatics from your correspondence. Placing the words coin, coin collector, numismatist, or any other coin-related words on the return address of your envelopes is dangerous. Be sure to instruct anyone who sends coins to you through the mail to remove any coin-related wording from their envelope or package as well.
Be careful whom you tell. You may trust someone enough to let them know that you’re a coin collector, and you may even show them some of your goodies, but can you trust them never to tell anyone, who in turn may tell someone else? An adage in sales is that everyone knows a hundred people. Therefore, if you tell one person, you’re telling a hundred, and each of them can tell a hundred … you get the picture. Be careful whom you tell.
Hide your coins. Don’t leave your coins out for the cleaner or anyone who peeks in your window to see. Coin calendars are nice, but I guarantee you that someday, one of your visitors will ask, “Oh, are you a coin collector?”
Deciding between a home safe and a safe-deposit box
Should you store your coins at home or in a safe-deposit box in a bank? The answer depends on how comfortable you feel about keeping your coins at home, the value of your collection, and the importance of having your coins close by. Some collectors love to view with their coins every chance they get. You may have a collection that’s rapidly growing and changing, thereby requiring continuous access to the coins. Other collectors are perfectly happy making an occasional trip to the bank to view their numismatic treasures. Ultimately, you must determine the amount of risk involved in keeping your coins at home, whether you can protect against those risks, and whether you can afford the loss in a worst-case scenario.
Home safes come in a variety of sizes and types:
Floor safes: Floor safes are embedded in the concrete floor of your home and are easiest to hide. But they offer limited space, and you may get tired of pulling the rug back and getting on your hands and knees just to open the safe.
Wall safes: Unless your wall safe is embedded in concrete, don’t bother getting one. Thieves can use a crowbar to pop them out of the wall and carry them away.
Regular safes: Safes can protect your coins against fire, burglary, or both, and with regular safes, you have many more options concerning size and weight. The main thing safes buy you is time — something that burglars don’t have a lot of. I recommend buying a safe that weighs more than 1,000 pounds; otherwise, why bother?
Fire safes: These types of safes are more for protection against fire than they are for protection against burglars. Choose this type if you live in an area of high risk for fires and you feel relatively safe from theft. I’ve seen some neat coin collections reduced to melted lumps of metal because they weren’t protected properly.
Just as there are different choices in safes, there are multiple options in safe-deposit boxes. Things to consider are size, bank hours, access restrictions, terms of the agreement, the climate inside the vault, and insurance. (You can read more about insurance in “Insuring Your Investment” later in this chapter.)
Carrying coins in your car
Most criminals avoid committing robbery, preferring instead simple burglary when the victim is not around. Many coin thefts occur on the road, when, for some reason, otherwise-smart people leave their coins in their cars.
HOW ALARMING: A HOME SYSTEM
Hard to believe, but there are still parts of the United States where you can leave your windows open and your doors unlocked without worrying about anyone breaking into your house or car. However, the rest of us need deadbolts on the doors, bars on the windows, alarm systems on our cars, and, sadly, alarm systems in our homes — and that’s with nothing valuable inside! If you bring coins into the mix, having a home alarm system is not only a good idea — it’s essential. If you can’t afford an alarm system, take your coins to the bank and lock them in a safe-deposit box.
Home alarm systems range from simple sensors on your doors and windows to sophisticated infrared, laser, and sound detectors. Check out your local vendors or or you can do some research online to find out which system is best for you.
Dealers and attendees at coin shows receive identification badges and/or stick-on name tags. In the trade, I call these badges “rob me” badges. If you walk out of a coin show wearing your badge or name tag, you advertise that you’re a coin collector or dealer. Take the badge off before you walk out the door.
Carrying coins on a plane
Flying with coins presents special problems for the dealer and collector. Coins add to the list of stuff you must carry and watch out for. Coins can be heavy and must be handled carefully on flights so that other passengers aren’t injured. Some airlines may charge extra fees for excess baggage weight, and in extreme cases, you may not be allowed to bring the extra weight at all!
If you have a lot of luggage, enlist the aid of a skycap. Make sure that you keep your hands and eyes on your coins at all times. Don’t turn your back on your coins, even for a second; maintain physical contact with them at all times.
Be careful at the airport security checkpoint, where you’re most vulnerable to coin theft. After you make it through the metal detector, security guards will probably ask to search your coin bag. (Rows of coins form suspicious-looking metal rods in an X-ray.) Ask for a private search so that the whole world doesn’t see what you have in your bag. Never allow the security guards or anyone else to take your coins out of your sight.
Try to board the airplane early so that you can stow your coins under your seat or as close as possible to your seat. If you can’t find a compartment near your seat, stow your coins in the rows behind you, never ahead of you. In the crowded interior of an airplane, it’s easier to stop someone behind you than it is to chase someone ahead of you. Don’t let anyone know what you’re carrying. On long flights, check on your bag from time to time, just to make sure it’s still safe and secure, especially if you’ve dozed off during the flight.
Don’t allow your coins to be placed in the trunk of a cab or limousine. Otherwise, you may end up watching helplessly as they’re driven off without you. You’re much better off taking the coins with you into the cab.
How
