Safe Deposit Box Storage?

Chef

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It's hard for a bank to insure something if they have no way to verify what what was in the box.
I could stuff a box full of hundred dollar bills, but if there's nothing but ash after a fire, who's to say what was in there?
 

ratski

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So, wait, some of you are saying that the "bank has rules about firearms in safety deposit boxes", but I was under the impression that the bank can't know what you have in a safety deposit box. Had the conversation with the Pres of a bank. He basically said as long as firearms and ammo weren't stored in the same box, no problem, but "don't tell me what is in there".
 

JoshNC

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Under no circumstances should you store anything in a safe deposit box that you don’t want to lose. A long time poster on subguns shared a horror story he had where the bank stated he wasn’t paying his fees, when he actually was and had receipts to prove it. The bank opened his box, found a bunch of transferable MGs, called ATF and gave all of them to ATF.

Below is a cut and paste from the old subguns with his ordeal.





I moved from Wisconsin to Illinois. What was I thinking? On a more positive note, 20 years later I'm moving from Illinois to South Carolina and am slowly getting back in the game.
I had probably 10 machineguns at the time of the move. Almost all Safe Deposit Boxes in the country have a common depth - the h/w may vary, but they are all pretty much something like 27.5" (guessing). The M60 and the M2HB were the first to go - they wouldn't fix in the box. Everything else I could put in two of their largest Safe Deposit Boxes. I put things like the mini uzi in the box whole, the M16s were just the lower. The MP5, HK53, etc., all pretty much fit in two boxes.
The bank was in a small town on the border of Illinois and Wisconsin. For the first year or two, I'd drive up every few months, get the guns and go stay with friends in Wisconsin and shoot the guns. That got old fast. My trips to the bank got further and further between visits.
Five or six years into it, I get a letter from ATF stating that they wanted to meet with me to discuss my abandonment of all those machineguns. WTF, over? The bank drilled the boxes for non-payment.
I get on the phone with the guy from ATF and from the start they took the position that I had abandoned the guns and they were forfeit. The first thing I checked was whether I had paid the box rental fee. Thank God I had a canceled check showing payment. I told the guy from ATF that the bank had fucked up and that I had in fact made payment. It took a few iterations before he believed me - and believe me, their (ATF) position was Always Think Forfeiture. Period. I told the guy from ATF that I understood the law, had selected a safe deposit box on the well known advice from ATF, and you know what? Fuck it, I could care less if kept the guns. He was surprised when I said that and I explained that I would just sue the bank and ATF would likely get dragged into it as well.
He told me that they would release the guns if I could get the bank to admit they fucked up in writing.
I called the bank. They were all nice and pleasant until I said I was the guy with all the guns in the box. They didn't want to say shit to me. Until I told them I had a canceled check and they fucked up. They were still, "meh, too bad, go talk to the cops" until I told them that I could give a shit, but could you spell your name please? My lawyer wanted to make sure that he spelled it correctly when I sued the bank for the $100k or so worth of property that the bank had improperly disposed of. That changed their tune a bit.
I told them that fuck ups happen and all I wanted was them to write a letter saying they fucked up. After some back and forth, with me agreeing not to sue the bank, they wrote a letter. I took it to ATF and they said they'd give me the guns back if I had a properly completed 5320.20 to move them from Wisconsin to wherever they were legal. I moved them to Indiana and waited a few weeks to get a 5320.20 and then drove up to Milwaukee to get the guns.
All told? Probably 3-4 months that I fucked around with this. I honestly thought the guns were gone for a while. And ATF had reviewed the access logs to the box and wanted to know where some cans and a SBS were. I told them they were out of state because I didn't need a 5320.20 for cans and the SBS was not in SBS configuration when it went out of state. They were definitely gunning for me for a while. I think my "don't give a fuck, I'm suing the bank" attitude may have helped.
Ironically I left a "read me if you drill this box" note in both boxes, with copies of the forms and a letter asking the bank to call me if they ever drilled the boxes. If they couldn't get ahold of me, please call the nearest office of ATF as these guns were worth serious dollars. I figured, you know, people die. I could die and not pay the box. Did any of that happen? Nope. They called the local cops and the local cops finger fucked the guns for who knows how long. Then they eventually made their way to ATF, and ATF wrote me a letter. Honest, I'm shocked they eventually tracked me down.
Pissed that the bank didn't give me the courtesy of a call.
So... would I do it again? No. I wish I had just sold everything when I moved. It was a huge hassle. Ultimately I sold everything but the cans and made great money through appreciation, but that was more a factor of timing. Nothing that I really did.
So, depending upon what you have, and whether you have a safe place to store them? Go for it. But don't think that a SDB and a bank is necessarily all that secure. Again, I'm shocked I didn't lose everything.
 

Chef

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Stories like this make me wonder about some people.

It's not easy or cheap to play the NFA game. There's a lot of hoops to jump through and a lot of expense (if you're buying MGs).
For someone to go through all the hassle and expense to acquire this collection, only to up and move to a restricted state and leave such valuable firearms behind... It blows my mind.

Wife wants to be closer to her family? Time for a divorce.

Got a better job offer? If you have all of those toys (plus a M2Hb and a M60) it seems like you're doing pretty well as is and don't need a pay increase.
I don't know about some folks, but to me, finally being able to own MGs is like the fruition of a lifelong dream. And to keep and play with them trumps all other considerations. So I would never relocate to someplace where I couldn't have them.
 

Galil#1

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Yep why would anyone trust these commie owned banks anyway?! Also, if they ever know about the contents - bet they will immediately call the FBI, CIA, KGB, CCCP, ATF, NSA, FDA, CPA, KFC, PBS, MBA, NFL, NAACP, HDMI, etc. Good Luck!
 

Hiller

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Best way to guard your toys is to KEEP YOUR MOUTH SHUT on what you have and only tell TRUSTED friends that can keep their mouths shut as well. Don't necessarily rely on the ol' "please don't tell anyone" because that can have a "ripple effect".
This is the best advice you’ll ever get. 👍🏽👍🏽👍🏽


R/s, Hiller…………..
 

Dirk Hawthorne

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This is like any other risk assessment.

There is a very real chance that your guns could be cooked in a fire or stolen. There are 980 house fires every single day in the USA and 3,062 home burglaries every single day.

Since there is no gun safe on the market that's completely theft-proof and fire-proof, if you own a $20,000 gun, you need insurance.

Once you have the insurance, all your worries and scheming are over. If you come home from vacation to a busted open gun safe, then you call the insurance company and you're whole again.

Not telling people about your guns isn't going to protect you. If you live in a nice house, you're fair game. Burglars don't break into houses with a shopping list in their hand.
 

Chef

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Insurance isn't going to make you whole, that's a myth. Even if you're meticulous about documenting every thing you own.
And even then, some people have rare and valuable items that would be very difficult to replace. Like pre-sample keepers.
How can one be made whole if you get your pre-sample mini UZI stolen or burnt up in a fire and you're no longer a SOT?
Is your insurance company going to somehow convince the ATF to allow you to buy, without a SOT, a replacement mini? How often do they come up for sale? How long will your insurance company give you to find a replacement? Are they going to cut you a check based on the market value today, or the value in 3 to 6 months when you finally find one for sale?

How many people who have firearm insurance, document their spare parts and accessories?

Does anyone have a spread sheet that lists (for example) :
Twelve 23 round UZI mags, 6 new, 6 used in VG condition. IMI manufacture
4 UZI extractors, 2 new, 2 used, one FN, the remaining 3, IMI manufacture
One BWE 3 lug barrel, VG condition
One BWE top cover with aimpoint mount, VG condition
One blue UZI case, VG condition
Etc. Etc.

How many of us would need hundreds of pages to list our accessories and parts?

How would a insurance company place a value on a BWE barrel or top cover? Or a slo-fire conversion bolt when BWE no longer exists and you can't replace them?
How about a blue UZI soft case? How do you replace that if you just don't see them for sale?

Money can't fix everything.
But keeping your mouth shut and not showing off will at least help minimize the chances of you being targeted for a burglary. And having a home security system and fire-resistant safes will lessen the potential losses.

Guys who park their Ferrari in their driveway so everyone who passes by can see it, are just begging to get it stolen.
Same goes for showing off your toys to friends, co-workers, relatives and randos at the range.

There's an old WW2 poster about "loose lips sink ships". It's even more important today than ever.
 

Bret

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Stories like this make me wonder about some people.

It's not easy or cheap to play the NFA game. There's a lot of hoops to jump through and a lot of expense (if you're buying MGs).
For someone to go through all the hassle and expense to acquire this collection, only to up and move to a restricted state and leave such valuable firearms behind... It blows my mind.

Wife wants to be closer to her family? Time for a divorce.

Got a better job offer? If you have all of those toys (plus a M2Hb and a M60) it seems like you're doing pretty well as is and don't need a pay increase.
I don't know about some folks, but to me, finally being able to own MGs is like the fruition of a lifelong dream. And to keep and play with them trumps all other considerations. So I would never relocate to someplace where I couldn't have them.
Well said! I love being able to walk into my backyard and dump a magazine on full auto. I'd never move anywhere that I can't do that.
 

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