7 Tips On How To Help Manage Your Senior Parents’ Finances

As your parents become older, their physical health may gradually start to decline, and that in itself may become your responsibility to manage. However, their mental health may prove even more tricky to deal with especially when you have to take over their finances. With the degradation of mental health, your parents may begin to forget which bills to pay and how much, or even think that they have already done it.

Additionally, they may become more vulnerable to unscrupulous people who are trying to scam them or steal their identity. One of the challenges you may encounter with attempting to take over your parents finances is denial. Most seniors may resist admitting that they are no longer capable of taking care of things the way they used to, and as such, they may be hesitant to hand over the reins in an attempt to maintain their independence.

Here are a few tips you can use to help the transitioning process, both from a legal and moral standpoint. 

an illustration of a phishing scam

1. Know When It’s Time To Take Over

Depending on your relationship with your parents, the “right time” may vary. However, it’s always best to try to get ahead of the situation before it even develops. While your parents are still mentally and physically healthy, it’s good practice to have a conversation with them about their financial processes and plans.

If your parents do not live with you, it may be hard to detect a decline in their mental state, but you can look for signs. Check-in on their purchase history from time to time and occasionally check how often they go to the bank. Unusual purchases or frequent bank trips could mean that they are forgetting things or is possibly being the victim of a scam. Also, check-in on important bills that could have serious consequences if they are not paid on time. This would include insurance policies, mortgages, etc. If your parents are starting to forget to make these payments, it is a sign that your aid may be needed.

two women walking conversation

2. Have the Conversation

Even when you know that its time to step in, it may still be difficult to have a conversation with your parents regarding their finances. This is especially difficult if you are not very close or they are very private. However, it is best to speak to them while they can still rationalize the process and see the benefit of the decision. This would allow them to hand over information and documents willingly which would be simpler than having to get a forced Power of Attorney.

Once you have had that conversation, or several regarding the topic, you will be able to determine what your next steps will have to be. Other things to talk about are future plans regarding their assets and living arrangements. Would it be feasible to stay in their home or an assisted facility? If they choose to stay home, can a live-in professional caregiver be afforded? You should try to delicately talk about their options so that you know what to do when the time comes.

3. Power of Attorney

Sometimes your parents would have already had a power of attorney which may be a friend or another family member. If there isn’t one already in place, you can consider having one drawn up to give you legal authority to make financial decisions on your parent’s behalf. Please note that the power of attorney document can have limitations based on the rights outlined in the document. It can also be revoked by your parents at any time. If not revoked, it will stay in effect until your parents pass away. Another thing to keep in mind is that even though you may now have access to all their finances or have a Power of Attorney, the money still belongs to your parents. Therefore, you should try to involve them in the financial decisions as much as possible.

4. Know Where the Financial Records Are Stored

Some senior are trusting of banks, while others do not trust them at all. Find out where your senior parents store their important documents and access cards. Ask for passcodes, passwords, and keys to safes and safety deposit boxes. Even if they don’t choose to have you take over right now, knowing where these items are will put you in a position to step-in in case of an emergency.

You can also be added a co-signer for the safety deposit box to make it easier for you to access it without needing further documentation. Know the names of all affiliated banks and account numbers. If they still pay a mortgage, you should know which company handles their mortgage and what the payments are. If they have investments, you should have that information as well to be able to manage them and take over if something happens. 

5. Make It Simpler

Now that you are aware of where everything is, it may be a good idea to make it simpler. This will be beneficial to both you and your parents, especially if they are still handling some of the finances themselves. If they have multiple bank accounts and brokers, it may be a good idea to consolidate to one or two banks only to minimize having to monitor and deal with multiple institutions. You may find it easier to combine their assets with yours to manage it more efficiently, but this should be avoided where possible as it may lead to a conflict of interest. If anything should happen and it is deemed that you contradicted your fiduciary responsibilities, there may be legal implications.

6. Gather and Organize All Bills and Expenses

Once you have access to all financial-related documents, gather and organize the bills including credit cards, utility bills, mortgage payments, car payments, and any other expenses that may be monthly or have a fixed payment increment. This way you can ensure that your parents’ income is able to cover their expenses and will be paid on time to avoid lapses, repossessions, or disconnections.

7. Medical Care and Insurance

If your senior parents receive government assistance for health care, such as Medicare, Social Security, or Medicaid, you need to check that they are still eligible and will be if they should become incapacitated. Find out if you will require specific permissions or documentation in order to take over the management of their accounts.

Aside from the steps outlined above, you can still help to manage your senior parents’ finances by giving them sound advice. Inform them of ways to avoid being scammed. Inform them of ways elderly people have been scammed in the past, but not as an outright warning but more of an informative story. Let them know that if they come across any person or situation that seems even slightly suspicious, to let you double-check it for them just to be safe. 

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Safe & Sound: 15 Items You Want to Store in a Safe Deposit Box

Utilizing a safety deposit box is still the best way to store and secure your valuables. This option is actually recommended by local, state, and federal law enforcement agencies. This may be due to the high frequency of burglary and natural disasters that occurs to homeowners annually.  Even relief agencies such a the American Red Cross and FEMA recommend safety deposit boxes.

Now that you are convinced that a safety deposit box is necessary, you may be wondering which items to store in it for safekeeping. In the following list, you will notice some items that you would have been told some years ago to not store in your safe deposit box. However, with the introduction of more streamlined safety deposit box insurance coverage terms, you can store almost anything with confidence.

a blue passport book

Passports

This would have probably not made the list in the past, but the truth is your passport is a very important document which should be adequately secured. If you do not travel often and have other forms of ID, it would be wise to store your passport and other travel documents in a safe deposit box. You should still probably place it in a plastic bag for added protection before placing it in the box. 

woman signs marriage certificate

Marriage Certificate

A marriage certificate is a very important document that is not generally needed often. Most places would allow you to send a scanned copy and present the original at a later time. You can then schedule a time to visit your safe deposit box to obtain the certificate for use.

birth certificate in russian language

Birth Certificate

Similar to the marriage certificate, you will most likely not need your birth certificate often. It is always good practice to have copies in your possession to quickly view or use in a business transaction. You can then present the original afterward if necessary.

hand writes out my last will

Will

Deciding whether to put your will in the safe box or not can be tricky because if something happens, it may be difficult for someone to access the box to retrieve it. Even someone assigned as a power of attorney would still need to consult the courts to be granted access to your box. However, a will is still a very important and valuable document and should be secured. Therefore, it is best to store it in the safe box, ensure your lawyer as a copy, and also have a trusted cosigner attached to your box who would be able to access it in case of an emergency.

Deeds and Titles

Deeds and titles are perfect candidates for safe deposit boxes. They are extremely valuable, but rarely ever needed for representation, and are frustrating to replace. A car title, for instance, is mostly only needed if you plan to sell your vehicle and need to sign it over to the new owner, or if you plan to pass it on to another family member. In the same way, if you own real estate, you may not need to present the documents for a very long time after the transaction is complete, but all those documents must be important, otherwise you wouldn’t need to sign so many. It’s just best to keep them safe just in case you need to sell the property, or if any discrepancies arise later.

woman looks at two rings on her finger

Jewelry

Jewelry is probably among the most common items stored in a safety deposit box. This is especially true if the pieces have a high resale value or is a family heirloom. Storing your high-valued jewelry in a safe deposit box is a smart choice given the rate of burglary and the fact that these pieces are generally never worn or rarely so. 

vintage photos and journal

Family Heirlooms

Family heirlooms can hold monetary or sentimental value. Some persons would debate on which is more important. Nonetheless, it is agreed that securing these items requires consideration and a safety deposit box is always a good option.

various coins

Collectibles

People collect items for different reasons. Some people start a collection for the purpose of investing, while others start a collection because they have true admiration for an item or sets of items. Whether it’s stamps, coins, or other similar collectibles, it is imperative that they are stored and secured safely. The American Numismatic Association recommends storing coins in safety deposit boxes as opposed to home safes, even if they have electronic security systems.

stock bonds

Stocks and Bonds

It is true that most certificates have gone digital, but if you happen to have paper ones that may have been passed down to you, it is best to store them in a safe box. This is especially important if you are not sure where these certificates were generated and their current value. Even if the certificate does not have a worthy conversion value, it may still be a collectible.

Legal Contracts

A contract is a legally binding document signed by two or more parties, therefore, it should be considered important. Depending on the contract, it may not be something that you need to review often, but having it in a secure place for when you do is simply logical. 

Insurance Policies

Similarly to the will, it may tricky to store insurance policies in your safe deposit box. But it may still be the safest place for it. The aim is to ensure that there are easily accessible copies available and/or a trusted cosigner to access the original if necessary.

Valuable art pieces

You obviously won’t be able to store large framed art pieces in a small safety deposit box, but you could store and insure it in a risk-assessed vault, or some other storage facility that has blanket policies. This way you wouldn’t have to worry about appraisals or deductibles, but you could ensure your valuable art is secured and insured.

Mortgage documents

Mortgage documents fall in the same category as deeds and titles. They won’t be needed often, but it is still important to have them stored in a secure location for if, and when they are needed.

Precious metals

This category is separated from jewelry to only include items such a bullion and ingots made from precious metals. Whether you have been investing for a long time or just acquired your first bullion, it is naturally imperative to store and insure your investment.

vhs tape

Home inventory (Pictures or Videos)

A record of your home inventory can be extremely valuable for the purpose of insurance claims. This can be physical pictures or digitally stored media on a drive. Most things are stored on a cloud these days, but it couldn’t hurt to have a physical copy just in case the cloud files get corrupted, accidentally deleted, or are just inaccessible for whatever reason.

Now that you have an idea of which items to store in your safety deposit box, here are some additional tips to further improve their security. Store paper products such as documents and pictures in a plastic container or bag before inserting them in the box. This will help to protect them from water damage in the event of a flood. It is also wise to store jewelry in air-tight containers lined with a soft fabric to minimize tarnishing. Try to also keep an account of the items in your box just in case. 

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Shopping For Safe Deposit Box Insurance? Here’s What You Need to Know

Safekeeping certain items means a secured and protected environment is needed. Whether those items are important documents, jewelry or perhaps an art collection, getting a safety deposit box is a decision many people turn to when they want a peace of mind. Safe deposit boxes are available at federally insured financial institutions, such as banks and credit unions, but are also offered at private facilities such as the Safe Deposit Center.

Each renter gets their own assigned box which generally has two keys. One key is given to you the box owner, and the other is secured within the financial institution. For added security, it generally takes both keys used in tandem to open the box at any given time. Some institutions have a key-less option, which usually utilizes some form of biometrics, such as fingerprint scans, for access. At Safe Deposit Center, we use biometric access.

A safety deposit box is typically used for important documents or important items that are not needed often but have a very high value. This value can be monetary, functional, or sentimental. Here are the answers to commonly asked questions when considering safety deposit box insurance.

Do I need safe deposit box insurance?

While the Safe Deposit Center doesn’t offer insurance and doesn’t require renters to carry it, insurance can be obtained through third-party firms. The Safe Deposit Center maintains a high level of security to safeguard renters’ property. Among the highlights are secure biometric access, 24/7 security monitoring with cameras throughout the facility, and private rooms where renters can review their valuables. Privacy is a paramount concern and Safe Deposit Center staff do not escort renters into the viewing rooms.  

How can I be assured that my safe deposit box won’t be compromised?

The Safe Deposit Center is in business to alleviate people’s concern about storing valuable property. The reason why our renters choose us is because we offer unparalleled privacy and an assortment of units to store items of all sizes. When a renter signs up to store with us, s/he can be completely anonymous – meaning, even our staff will not be able to reach you. As a private business, we do not report our clients or their belongings – as long as they adhere to our policies – to governmental entities.

What if my stored items do not have monetary value?

While some commonly stored items aren’t worth much money, they may have importance beyond monetary value. Safekeeping things such as family heirlooms or old family photos or documents is a good idea, because you’ll be able to declutter your home or apartment while ensuring that your items remain in good shape for the next generation. Whether it’s an old hard drive with home video or tax information, or a thumb drive, keeping a backup copy in storage is wise and convenient. No more misplacing something or turning the house upside down to find something you have misplaced.

Where can I get safety deposit box insurance?

Safety deposit box insurance is quite a new and niche type of coverage. It may not have been offered commonly in the past, but it’s available. Renters would be well-served to check in with their homeowner’s insurance carrier first and do some research independently to find the best option for them.  

There are insurance options that don’t require appraisal or disclosure of the stored property. At Safe Deposit Center, it’s at the heart of our policy to grant our renter’s the utmost privacy they desire. As long you’re not storing anything illegal, we do not need to know what it is or even your name. We don’t even require that you provide your contact information, and don’t keep extra keys.

a blue passport book

Can I update the items in my safety deposit box if my insurance policy is already generated?

This will depend on the terms of your individual insurance policy. If you are unsure of how adding or removing valuables from your safety deposit box will impact your insurance premiums, it is best to contact your insurance company.  

How do I know how much coverage I need?

As is common practice with any valuables you wish to cover with your homeowner’s insurance, determining your coverage limit depends on the value of the items themselves. Gather or list the items that you plan to store inside the safety deposit box, then come up with a reasonable estimate of their combined value. If some or all of the items’ value can increase over time, such as gold, silver, etc., you also should take that into consideration when determining your estimate.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.





Shine Bright: 7 Tips for Keeping Your Jewelry Clean While in Storage

You may choose to put your jewelry in storage for different reasons. Maybe you don’t go out very often, maybe the jewelry is seasonal, or maybe it’s based on their value. The fact is, how you store your jewelry and where your store your jewelry is very dependent on the jewelry type. Some of the things you will have to consider will include metal type, storage containers, storage location, the temperature of the room, frequency of use, and cleaning opportunities.

Here are 7 tips to help with keeping your jewelry clean and maintaining its radiance during storage.

1. Jewelry Separation

This is probably the most obvious tip, yet it may also be the most common mistake people make when storing their jewelry. Before you even consider where and how you are going to store it, you should consider the material the jewelry is made of. Different metals require different storage plans, which is why throwing all your jewelry in one box is never a good idea, unless of course you have absolutely no diversity in your jewelry box and they are all the same material type.

The first simple step is to separate them by metal type. In other words, separate your silver jewelry, your gold jewelry, your stainless steel items, and also your fashion or costume jewelry. You can also choose to separate them even further based on value and frequency of wear. Value in this context mostly refers to monetary value, but sentiments can also play a part in your separation process as we go through the other steps. 

2. Jewelry Style Types

You may not necessarily need to make this assessment, but it could come in handy especially if you are traveling or moving. Some types of jewelry are stored better in specific tailormade containers. For instance, a felt-lined ring box would be perfect to house rings for storage or traveling. You wouldn’t even need to separate the metal type, just ensure there is enough space between each ring in the ring mounds. These containers allow the rings to stand upright, wedged between two mounds of felt.

This limits their movements and chances of them rubbing on each other, which could cause scratching or tarnishing. This can also be true for necklaces, especially small linked chains, long chains, or chains with multiple pendants. Specific chain boxes allow them to hang separately, thus minimizing entanglement and dust collection. This allows them to maintain their cleanliness and shine for longer periods. 

3. Individual Storage Containers

Depending on the amount of jewelry you have and the number of metal types, you can opt to get a separate storage container for each set. However, each storage container should be lined with soft, dry, breathable fabric. This will help to reduce grime, dullness, and corrosion. If you have a lot of jewelry, or numerous jewelry types, finding a separate storage box for each set may prove to be tedious and can be cumbersome in storage. Too may containers may lead to space issues.

Another option would be to get one large storage box, but get individual jewelry bags for each set. This way, all the jewelry can be in one major container, but still be separated as per tip 1. Please note however, that these jewelry bags should be made from- or lined with felt or another tarnish-proof material. 

4. Clean Before You Store

This tip goes without saying, but a proper clean and polish will not only help to maintain the luster of your jewelry, but will also help to deter dust and grime from making a home on them. You should clean all jewelry that will be stored. Storing cleaned jewelry with dirty jewelry will only lead to a container filled with dirty jewelry when they come out of storage. It won’t be dirty in the sense that you can see dirt stuck in their crevices, or maybe you might, but they would at least start to tarnish and not look as vibrant as they once were. They can be cleaned with warm, mild, soapy water and a soft toothbrush for the little nooks and crannies. Once cleaned, they should be dried completely with a soft cloth or allowed to air dry then buffed with a soft cloth.

5. Storage Location

Where you store your jewelry will play a part in how clean it looks when it is taken out of storage. Try to avoid open areas that are prone to dust. Even the tightest locked jewelry box will allow dust to eventually pass through its seams, so a low dust area is best. You may be tempted to put your jewelry in plastic bags to minimize dust particles, but this can be tricky as it may create humidity and moisture. You would have to ensure that the jewelry are first placed in a felt-lined container that can maintain its aridity before being placed into the plastic. This will prevent moisture from getting to the jewelry even if the bag starts to sweat.

6. Temperature

Another consideration that may not have crossed your mind is temperature. High temperature leads to sweating and moisture on certain materials, which can lead to dullness and a build-up of grime on your jewelry. Avoid storing your jewelry in areas where it may be in the path of direct sunlight or a heating vent. This is important especially if long term storage is being considered. Therefore, your attic and your basement may not be your best bet. However, if any of those rooms happen to be temperature regulated, then it could be a viable option. 

7. Length of Storage

Deciding how long to store your jewelry may not be within your control, but the aim is to get at the jewelry at set intervals just to give them a good buffing to maintain their luster. Also, the prospective length of storage can help in determining which container storage option would be best for your jewelry type. For instance, if your jewelry is not going to be in storage for very long, you can be a little more flexible with where and how you store them. This means that you may have more frequent opportunities to take them out and buff them between deep cleans, which will help them to remain cleaner for a longer period.

However, if your jewelry is only worn at specific times like costume jewelry you wear at Halloween or fine jewelry that you only wear to weddings and fancy dinners, you can consider a more long-term storage option. This could be a vault for your fine valuables or a storage container in your closet for your costume jewelry.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Connoisseur Level: 9 Tips On How To Start An Art Collection

When you hear the term collector, you may think of persons who collect coins, stamps, or sports memorabilia, but people also collect art. Art collection can involve any form of art, but is most often directed to wall paintings, photos, and other forms of wall art rather than sculptures. If you are interested in compiling your own art collection, here are 9 tips to help you to get started.

1. Find Your Niche

This may be an obvious first step, but it isn’t always easy. Unless you are extremely wealthy, starting a collection can be expensive if you decide to try a little of everything. The best move is to find a category that speaks to you, and then build on it or narrow it down (depending on how you look at it). You can choose your art collection by your favorite artists, era, painting versus photos, material type, region, etc. What you fancy is ultimately up to you, but it’s ideal to have a basic idea of what you are looking for before you start looking. This way, you can focus your search and procurement efforts on getting exactly what appeals to you and spend less time checking out every piece of canvas that calls itself art. You can decide which galleries and art shows to visit based on the niche that you have selected. 

2. Create a Procurement Plan

Not all art is collected the exact same way. The basic concept is to purchase it, but finding it may utilize different processes depending on what you are looking for. For instance, if you are into contemporary art and your artist is alive and still producing, they will most likely have a social media presence or a website. This makes it a bit easier to follow their work and procure their art. However, searching for vintage art pieces may take a bit more finesse. There are websites that focus purely on art and can be a good place to start, but you can also get rare finds from long-established galleries and general eCommerce websites like eBay and Etsy. The problem is figuring our which sellers to trust, so research is essential.

3. Conduct Proper Research

Research will always be a necessary part of any collection process regardless of the item or reason. The fact is, you need to know what to buy and where to get it. If you are collecting for the purpose of investment, you will have to treat it a little like Forex trading where you look at past trends and then try to predict future values. You can look for older, more established artists with a good sales track record, or you can try to find an upcoming artist with tremendous potential. A new artist can be a risky investment, but it can also be rewarding if the artist’s work becomes extremely popular and valuable over time and you have an early, original piece. If you are simply in it to decorate your personal space with beautiful pieces of art, your research may stop at finding a gallery or filter-ready online store which houses a categorized plethora of art.

4. Aesthetics vs. Value

As with any collection, you may choose to do it simply because you love the items you collect, because you know it will be a sound investment, or because you hope to benefit from both reasons. With art especially, the reason for your collection will play a part in which pieces you collect. If the aim is solely for investment, you should conduct extensive research before you make a purchase. If it is just for aesthetics, then it’s almost as simple as finding pieces that you like to look at. How much you spend on art will vary based on your personal taste and affordability, as opposed to investments where you will have to weigh your financial standing against the potential gain.

5. Organize Your Display Space

While art can be treated like any other collection, it is a little more demanding in terms of display. It’s art, it’s main purpose is to be admired. Therefore, before you start an art collection, you need to organize a space to store or display it. It is not just about the location, but also the size of the dedicated area. This will help you to decide how many pieces you can effectively collect to display and/or store. Space consideration is important to avoid hoarding and to facilitate proper placement.

6. Redecorate

You are probably wondering why this step is even included. The fact is, collectors tend to go a little overboard even when they have already organized their space. So you may find yourself with a few more pieces than you can effectively display, or find that some pieces start to lose their appeal after a while. You can either choose to sell them and hope that you made the right choice, or take them down and put up a few new ones. You can change them around annually, by season, or whenever you feel like a new perspective is needed. Either way, redecorating from time to time can help with keeping your eye and mind focused on your niche and reconfirm your preferences.

7. Make the Purchase

You have picked your niche, organized your space, and done your research. The next step is to simply purchase the item. If you like it a lot and can afford it, buy it. Overthinking will lead to hesitation and possibly regret if you miss out on a piece. After you purchase your first piece, you will most likely know if continuing with that particular niche is the right choice for you.

8. Display vs. Storage

This is an important step. As stated in step 5, art likes to be admired. However, if the main purpose of your collection is an investment, you may not want to display all pieces, all the time,  and proper storage should be your next consideration. If you choose to display a value piece, you have to consider proper framing, coverage, and security. If you choose storage, you still have to consider the storage packaging and location to avoid spoiling the piece. 

9. To Insure or Not to Insure

Getting insurance is an option to be considered based on a few factors. Are you housing valuable pieces, does your home insurance cover it, and is additional insurance necessary? If your collection is valuable in sentiments and not dollars, you will still want to protect it, but probably not fork out extra dollars for insurance. You should check to see if they are covered under your home insurance. If your collection is extremely valuable in terms of actual money, you may want to get the items appraised an then get them insured separately.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

A Handy Guide to Collecting Vintage Sports Memorabilia

If you perform a search for the term “collector,” most results will simply state that a collector is someone who collects things. While this is true, the statement itself is a bit reductive because a true collector does more than simply “collects things.” Some people engage in collecting as a hobby, others view collecting as an investment, and there are those who see an endless possibility in doing it for both reasons. 

Whether you are already an avid collector or thinking of becoming one, deciding what to collect and how to store it is an integral part of the aggregating process. Here are several tips to consider when collecting and storing sports vintage memorabilia.

Your Vintage Sports Memorabilia Collection

Establish a Niche – Try to focus your collection on one set, or group of items. For instance, select a sport that you like to play or watch. You can then further pinpoint a collections group by focusing on a team or player. This will allow you to complete a collection more quickly, thus increasing its value and your gratification. You will also prevent overspending as it would definitely be more costly and/or frustrating in attempting to complete multiple collectible sets simultaneously. 

Collecting vs. Hoarding – Some persons confuse collecting with hoarding. The truth is, it’s easy to get carried away when you find something that you are truly interested in. To prevent yourself from crossing that thin line from collector to hoarder, ensure to organize a dedicated storage space for your collectibles. Stick to your niche and only utilize your dedicated space. If you find that you are running out of space, it’s probably time to start pruning. 

Organize – Developing and organizational process serves multiple purposes. Aside from being aesthetically pleasing, a well-organized set of memorabilia makes it easy to see if there are any missing pieces or duplicates. This will make purchasing and pruning simpler. 

Check for Authenticity – It goes without saying that you should ensure the item you are purchasing is authentic. But how can you be sure? The best way to ensure your vintage sports memorabilia is authentic is to purchase from reputable retailers or try purchasing from the sports organizations directly. The NFL, MLB, NBA, NASCAR, FIFA, and other majors organizations will provide authentic merchandise. However, it can often be less expensive to purchase from eBay, dedicated collectible websites, or a fellow collector who has a duplicate. The good news is, even if you purchase from one of these alternatives, you can still ask the seller to furnish a certificate of authenticity from the Memorabilia Evaluation and Research Services (MEARS) or the Professional Sports Authenticators (PSA). This will confirm that you are getting what you pay for. 

Value – Value doesn’t necessarily mean “value for money.” In this case it can also refer to the value that the item holds for you personally. Of course, if you are collecting for the purpose of investing, you will need to check the current monetary value of the item and the projected monetary value. This will help you to decide how to select one memorabilia over another and know when to let go of a specific item in order to get a more lucrative one. On the other hand, the value may refer to the sense of fulfillment that you get from the item. It could be an item that preserves a memory or signifies an achievement. Either way, a collectible shouldn’t be in your set just because it was available, it should have a direct significance to the rest of your collection, thus adding to the collection’s overall value.

Storing your Sports Memorabilia

Types of  Material – The material that makes up the main component of your sports memorabilia will help to determine where and how it is stored. Some materials will hold up fine regardless of where you keep it, while others do not do well in areas where temperatures can go above or below certain degrees. For instance, if your vintage collectible is largely paper-based, such as unlaminated sports cards, pictures, sports magazines, or cardboard cut-outs, you may want to avoid placing them in plastic bags or containers which could sweat if the temperature fluctuates to any extensive degree. You should also try to avoid newspaper where possible. While newspaper is generally abundant and useful in storing items, it has ink that may bleed onto other surfaces, especially if it becomes humid. This could lead to permanent damage and a decrease in value. 

Location, Location, Location – This may be an obvious one, but there are so many things to consider when selecting a location for your collectibles. The main consideration for most collectors is display. They want to know the best place with the best view and the best lighting, and that is perfectly understandable. You want to share your collection with friends and admirers, at a safe no-touch distance of course. However, you must also consider the temperature and humidity of your storage area. Another factor that is sometimes overlooked is how much direct sunlight is shone on the items being displayed. While your card, ball, or T-shirt may gleam and look glorious in the sunlight, you may be slowly causing irreparable damage that may only become visible when it’s already too late. You may not notice the fade in color on your card or shirt, or the small cracks in your ball or plaque until you can no longer do anything about it. If you wish to have your sports memorabilia shine in all its glory, you can choose to give it a dedicated spot with a dedicated light source other than the sun. LED lights staged around the perimeter of a display glass box may do the trick, but even then, it’s best to turn the lights off when it’s not being actively viewed.
Other places to avoid are small rooms with fireplaces that may become too warm, or non-insulated places that may become too cold. Of course, this is all dependent on your overall location and its weather patterns. However, you may want to avoid attics and basements in general.


To Clean or Not to Clean? – This is a question of whether your collectibles are on display or not, and the type of materials they are made from. Obviously, if your collectibles are wrapped properly in a suitable storage material and kept away from humidity, cleaning is probably not necessary. However, if your vintage sports collectible is on glorious display, at some point it may become dusty and needs to be cleaned. It may be difficult but try to resist a clean sweep with your hands, especially on photographs and other paper-based materials. The fact is, our fingers have oils that may help to break down the material over time and shorten its lifespan. If you notice that a certain item needs cleaning, get a pair of gloves and a soft dust cloth or soft bristle brush to gently dust the surface. If the item is made from plastic and requires a slightly deeper clean, you can use a Q-tip with a little alcohol or distilled water. Try to avoid areas with external printed ink just to be safe. 

Insurance – This final tip is not so much about collecting and storing your sports memorabilia, but more about preservation. As with any asset, you are going to want to protect the time, effort, and money you have already invested in it. Therefore, you should ensure that your collection is insured. Some collectibles are already insured within your home-owners insurance, but if your collection has a high monetary value, you should consider a dedicated insurance policy just for them.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Keeping Valuable Time: How to Store Luxury Watches

People around the world have different hobbies. Some collect stamps, coins or books. Others collect rare art. Watches also make nice collectibles and there are a lot of people around the world for whom collecting timepieces is a passion in which they invest a lot of time and money. Watches are delicate items, especially when they are expensive and form a part of someone’s collection. Anyone who has a passion for collecting watches would have to take very good care of their timepieces. 

Watches come in a wide range, but the ones that are expensive and rare always make it to the owner’s collectable items. They are the owner’s proud possession and require an equal amount of care and maintenance. It’s said that if a watch can be taken care of properly, it can be handed down from one generation to another. Companies like Omega, Rolex, and Precision have been making watches for decades and their timepieces are extremely expensive. These form the crème luxury collection of any collector. These timepieces are worth a lot of money and require a tremendous amount of care to be handed down the generations. Let’s look at how one can maintain and take care of their luxury watches.

gold watch and black watch box

Storage rules

All high end and delicate timepieces are always sold with watch boxes. This box in which the watch has originally been sold has been specially designed, keeping in mind the body and structure of this expensive timepiece. There are specially designed watch boxes that are available in the market nowadays in which you could store all your precious timepieces. You also have an option of getting these watch boxes custom-made to suit your requirements. These delicate collectables have to be kept away from moisture, so you have to make sure that the watch boxes are airtight and moisture-free. It is always said that the original box is the best way to store your timepiece!

silver rolex watch

Cleaning rules

Any collectable with moving parts requires to be cleaned at regular intervals. A car is a machine and is a collectable, but people who collect vintage cars have to make sure that the cars are cleaned and serviced at regular intervals. It’s the engine that requires servicing and oiling at regular intervals to ensure that the car is smooth and running. Similarly, a watch has an engine which requires to be serviced at regular intervals irrespective of whether it’s being worn or not. There are various watchmakers to whom you should be taking your collectables for servicing. They would check the tiny parts and clean them to ensure that your timepiece stays intact and in perfect condition.  As an extra effort, you should be using a soft cloth to clean your watches from the outside ensuring that all the extra dirt which collects on the outside can be cleaned. Open your watches at regular intervals and check for dust, then wipe them clean. At the same time, take them to a good watchmaker for servicing at regular intervals.

a box with multiple watches

Protection rules

Any watch has a pre-defined resistance towards various forces of nature. There are sports or mechanical watches that are water-resistant, heat resistant and dust resistant. But these resistance levels are informed or are written in the user manual of our luxury watches. All have pre-defined levels of resistance; if it is said that you can use your watch in 50 meters of water, then don’t try taking your watch deeper while swimming. The watch’s parts may not be able to withstand the load. Some rules of thumb are that these delicate pieces should always be kept away from direct sunlight and extremely dusty places. The dirt and the heat would harm your timepiece. Another thing which harms the machinery is chemicals, especially the type that are alcohol-based – like perfumes, cleaning supplies, colognes and oils. You have to keep your watches away from these chemicals as they end up spoiling the look of the watch, have a harsh effect on the leather or the crystal dial of the watch.  Be careful not to bang the watch against the walls, which may lead to scratches and cracks in the crystal. Use a soft and a dry toothbrush to clean off the dust and dirt which gets accumulated over some time. 

storefront with antique watches

Educate yourself

When you are investing money in a delicate collectable, you should spare some time and understand your precious watch’s nuances and features. Who would be a better person to do that than the person who is selling you the timepiece? Salesperson aside, it’s worth putting in the extra effort to at least peruse the user manual that comes with the watch, to double-check just in case if the seller has missed out on any information. Never try opening the machine of the watch on your own. It’s prudent and practical to ake it to a watchmaker to get it checked. Read the cleaning instructions on how to clean your watch rather than applying your remedies.

intricate zodiac time piece

Usage rules

There are mechanical watches that require winding regularly. Some basic rules of winding include removal of your watch from the wrist before winding. In case there is a resistance when winding, definitely stop because it would lead to over-winding. There are watches that require to be winded daily, in particular the luxury mechanical watches. Avoid wearing these delicate timepieces when doing strenuous jobs and in harsh weather conditions.

notes and man adjusting wristwatch

Insure your collectibles

The way any individual would seek to insure his life or his house, your luxury watch collection should also be insured. Look for companies that specialize in these insurance policies and ask them to evaluate the luxury or historical timepiece and take up an insurance cover for the same. Make a list of all the vintage watches you have and along with their photos, prepare an Index of all the information about your watch collection. This information comes handy by the insurance company in cases of theft. It’s rightly said that these luxury collectables should be kept in a bank vault.

All the people who like watches are passionate about adding new timepieces to their collection periodically, but maintaining these delicate watches also takes up a lot of time and patience. There are world-renowned brands that have been making watches for over decades and have managed to carve a name for them in the watch industry. A little discipline and some love can help you maintain this unique and expensive collection for a lifetime and more. As it is rightfully said, “time does not wait for anyone – wear a watch to chase it.”

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Feeling Nostalgic?: 9 Tips To Collecting Vintage Toys

Toys can take you back to your childhood days. Your parents probably still remember your shrieks of joy as you played with a toy. You must have always fancied yourself to be a warrior or a hero while making your friend a villain. Over the years, toys have been a central part of our lives, able to whisk us away to a fantasy world  full of fun and excitement.

These days,  collecting vintage toys is not an atypical hobby. Keeping this trend and interest in mind, collector-oriented retail shops are thriving in cities and towns. Enthusiasts can add on as many vintage toys to their collection as they can. We grow old and our areas of interest move to other stuff like clothes, shoes, or even art, but whenever passing by a toy shop, it’s inevitable to get that nostalgic feeling. For all those who have been looking to grow their collection of vintage toys, here are a few tips to consider to keep your collection’s value high.

vintage sign

1. Set aside a budget

First and foremost, before going out to look for vintage toys, it’s wise to set a budget. Once you will go on collecting vintage toys, you will be expecting to find something different from what you already have. It may cost you a lot. Your hobby of collecting vintage toys can become an impulsive and addictive habit. You don’t want to overspending on vintage toys and lose track of other priorities. So, it is important to allocate your budget accordingly.

2. Save up, then spend wisely

A simple DIY jar can be a great way to set aside a certain amount of money  each month for spending on vintage toys. By doing this, you will able to make use of your money effectively and efficiently. Other than this, you can also limit your spending on things other than your areas of interest. So, perhaps you can cut down spending on clothes, shoes or other hobbies?

3. Analyze your collection

If you try to buy everything and too quickly, then ultimately your collection will become clumsy and you’ll overspend without knowing what you’ve bought.  The best route is to hone in on your collection. For instance, you could choose an era for your vintage toy collection. You can simply start buying the toys from your favorite movie or series. Analyzing your collection will make things go easy and will allow it to grow organically and keep you interested. Focusing on a particular area at a time can be of great help. For instance, one can pick a specific movie and start collecting toys accordingly. Once you have collected all the toys from that particular movie, you will feel a sense of fulfillment and gratification. When you will be done with this era you can move on to another.

4. Outline and prioritize, then go after it

Collectors  may have a hard time identifying what they want. They end up putting questions on social networking sites asking, “I am thinking to buy this vintage toy.” Or “which one do you think would be the best and rare?” Instead of inquiring on social platforms and asking for other people’s advice, you can watch videos and browse for toys on hobby websites. You can simply head out,  discover and peruse the  shops that specialize in vintage toys. You can’t let others influence you to buy a particular toy when you don’t want it. Prioritizing plays a vital role when you are growing your collection. Another alternative can be making a checklist: You can prioritize what you are looking for and desire to have you in your collection. This way, everything will be clear in your head and you will be able to save money accordingly, by not spending it on other things.

5. Widen your search

Limiting the collection will always be an obstacle in the way of its growth. So, you need to explore and come up with novel sources from which you can collect vintage toys because buying vintage toys from a particular shop or website will not do any your collection any justice. A particular shop might have an ultimate collection in itself but you need to do research and explore new things. Exploring should always be the key element.

6. Patience is a virtue

Rushing is not always the way. You can wait for auctions to come up so that they can invest your money in the right manner. It’s very hard to find vintage toys and one should explore it with enthusiasm and zeal. The collection takes time, so you need to have patience and try to go with the flow. You can’t just end up buying toys just because they are available. If you are eagerly waiting for a specific toy, then by all means – exercise patience! The best way is to save money and keep it stashed, so that you can spend it on the vintage toys that are soon going to launch in the market.

7. Get bargains at auctions – but don’t overpay

People tend to look for individuals who would come and buy things in the auction. It gives everyone opportunities to prioritize their needs. Generally, if you do go to an auction where toys are sold you, will find a lot of people giving away vintage toys. By all means, do grab the deal if you think it’s worth it. It helps to have done research beforehand to avoid paying a premium for an item you can get for less somewhere else.

8. Consider ‘new’ and ‘open box’ vintage toys

When you visit a collector shop in search of vintage toys, you’ll likely come across two types: As new, sealed in original packaging and usually in mint condition; and out-of-the-box. Whether to spend on either the original toy or the open box variety depends on your budget. Here is a pro tip if you do decide to go with a new or mint vintage toy: Double-check that it’s authentic and not a fake or repackaged to look brand new.

9. Cost vs. space consideration

It may be possible that you will end up buying a vintage toy just because it’s a little bit cheaper but you need to ensure whether there is any need to buy it or not. You might not desire to have that toy and soon you will end up trading it or selling it.  Even if you keep it, the vintage toy will inevitably take up space in your collection. Space is the biggest concern with collectors – as in, running out of it. You can’t always put your vintage toys in boxes. You should have an area to display and assemble toys. Presentation matters, of course, so one alternative can be to build or buy glass cabinets and display your collection at a place where it will be protected from dust. If you have a large collection, you may have to pare it down to pieces you want to display or rotate.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Beginner Coin Collecting: Get Started Guide

A hobby is something that any individual is passionate about; the person can be fond of music, playing a sport, travelling to new places, cooking, eating etc. You can have a variety of likes, one of which can be collecting things. Some individuals collect cars, stamps, dolls, phones, watches etc.

And, of course, there are those who have a passion for collecting coins. Are you one of them? In case you have this affinity for coins and want to start collecting them, read on for a few tips on how you can start your coin collection.

Hobby 

Coin collection generally starts as a hobby for quite a few, which turns into a passion over a while. You could start by collecting all kinds of coins, and over some time you’ll discover which coins you like most and what kind of coins would you want to collect.

You may like to collect coins based on the metal they are made of, their shape, colour, size, period etc. There are almost as many types of coin collections as their are coins. A little patience will help you find your niche in this unique hobby.

Learn the Coin Language

Like any other hobby, coin collecting also has its language. You have to get yourself acquainted with the terms which are used when speaking about coins. The study of coins is called “Numismatics” and a person who collects or studies them is called a “Numismatist”. Learning the language and terms specific to coin collecting can help you understand your passion better.

An Investment Option

A coin collection can also be a long term investment option for an individual. Coin collecting as an investment works simply by holding on to coins of gold, silver, copper and platinum, and, as the value of these coins increases the value of your investment multiplies. These coins have a higher intrinsic value and look very appealing to collect too. One downside to this kind of collection is that you may have to spend a lot of money to amass a sizeable collection.

Channel your Interest

Once you take up coin collecting as a hobby, you’ll learn about the various kinds of coins that a collector can have. There are various kinds of coins that one can collect; coins based on their intrinsic value, coins belonging to a particular period, circulation coins, uncirculated coins, coins of different shapes and sizes etc.

You can choose what kind of coins you would want to collect. You could start collecting all coins initially and after a while channel your collection according to which coins excite you the most.

Patience is a Virtue

“A mountain cannot be climbed in a day”; as a beginner, you have to be patient with this hobby. You should educate yourself on Numismatics and do thorough research on what is required to start a collection. Contact senior coin collectors and speak to them to know more about how you might go about starting your collection.

Start by collecting the small coins, maybe the ones which are not very expensive. Beginner coin sets are readily available in the market.

Structure of a Coin

Before you get your first coin, learn about the body of a coin. A coin, like any other collectible, has various parts which any coin collector should know about. The coin usually has two sides: obverse (heads) and reverse (tails). The other parts of a coin are the date, denomination, motto, mintmark, and the field. This is basic knowledge that will help you take your collection from a basic collection to a specialized collection as you progress.  

Evaluation Process of a Coin

Once you have learned about the history, intrinsic value, and parts of a coin, grading of the coin is next on the agenda. You have to learn how to evaluate or grade a coin. Grading depends on how well the coin has been preserved over the years. Initially, this system was the same as the school grading system, but over the years it has changed and has become more honed and specific. The 70-point Sheldon Scale is used to grade coins. 

Upkeep of your Coins

Preserving your coins is the most important aspect which has a direct effect on the intrinsic value of the coin. It has been mentioned earlier that grading of the coin depends on how well the coins have been preserved over the years.

You have to be very careful when it comes to handling coins; they should never be touched with bare hands and you should always wear cotton gloves to handle your coins. Avoid using rubber or latex gloves to handle your coins as their emollients can damage the surface of the coin.

A coin should always be picked up by its edges and never by its obverse and reverse sides. The surfaces of the coins are very delicate. One coin should be cleaned at one time; you cannot clean a bunch of coins together.

Storing your Coins

Your coin collection requires being stored properly, unlike your piggy bank savings. There are various coin holders in which you can store and safely display your coin collection. You can organize your coin holder according to your convenience.

For beginners, you can store the coins in acid-free paper envelopes, folders and albums. Once you have a decent collection in place you can upgrade the storage to moisture-free envelopes or PVC cases which are specially made to store and display your coins.

Protecting your Coins

You have already learned how to protect and clean your coins to the best of your control, but in the event that your coins are damaged due to extenuating circumstances (like a fire), you would have no back up to make up for your losses. You should always take an insurance cover for your coins and paper currency covering their intrinsic value against fire, theft and water.

Additional Tools 

There are various kinds of tools which are available in the market to help you study the intrinsic value of your coins and keep them protected. There are available magnifying glasses to help you study your collection. Additionally, there are coin holders, index books, cotton gloves which a collector should always have. The index books are used for keeping physical records of your coin collection. The coin holders help you in efficiently storing your coins.

Grow your Collection

Once you have started your coin collection, you should be looking for a trustworthy and senior coin dealer whose help you can seek in case of any grading issues. They can also help you in your purchases as a new collector. The local coin shows which happen from time to time are a must-attend just to gain knowledge about coins. There are books too which help you increase your knowledge about coins. There is a coins club; becoming a member of such a club helps you meet like-minded people.

Set up Goals

When you start a hobby, it does not take time for this hobby to become a passion. To be successful in any kind of endeavour you have to begin by setting small goals which can be achieved and then progress towards the bigger goals. The history behind each coin is unique; once you decide on the kind of coin collection, you are subject to a whole new world of knowledge which helps you know more about world history.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.

Collector’s Guide: 13 Examples of Rare U.S. Currency

If you live in the U.S., you’re likely accustomed to always seeing the same currency notes circulating, with an exception of some minor changes intended to hinder counterfeiters. But even as recently as during the last few decades, there have been various currencies in circulation for a short time that are no longer in print. The coins and paper currency which we are currently using have come after a long process of trial and error by our government over the last century or so.

These out-of-print denominations are rare to find but may still floating around out there. These rare printed notes are still considered to be legal tender, but their actual worth is, in fact, higher than their printed value. Should you be lucky enough to come across one, you may be able to offer them to a collector who would be willing to pay more for your rare U.S. currency note.

Before you run and check your cash on hand, read on for a list of U.S. currencies which were once printed but have been discontinued by the government.

$2 Bill

The $2 note has a picture of Thomas Jefferson on one side and the other side has the famous painting by John Trumbull named the “Declaration of Independence”. This note is still recognised as legal tender by the government, and although you would rarely come across the note in your daily business, they have been known to delight younger Americans by making their way into many a birthday card.

Silver Currency Notes

During their printing run of 1878-1964, these silver certificates could be exchanged for their equivalent value of silver coins. These silver certificates of $1 are truly one of a kind in U.S. paper currency, as they are to this day the only bills to display the picture of a woman. Silver currency notes feature the influential Martha Washington, wife of the President of United States of America George Washington (who is represented on the $1 bill we still use today).

These old silver certificates are rare now and have been replaced by silver bonds which come with a memo stating “One dollar in silver payable to the bearer on demand.”

$ 500 Bill

The last $500 bill was printed in 1945. This bill had quite a few versions with our President William McKinley’s face printed on one side. Though these notes are still considered to be legal tender, you would only find it with collectors and currency dealers. The face value of this $500 bill is way more than the denomination printed on it, making it a rare addition to any collection.

Continental Currency

During the American Revolutionary War in 1775, the rebellious 13 Colonies started issuing their own paper currency to fund the military expenses. These colonies would soon become independent states. Realizing that, the highest political Continental Congress started issuing Continental currency in June 1775, as a single currency for all the 13 colonies.

The Congress did not keep a tab on the notes which were issued and soon these were being counterfeited en masse, causing their depreciation in value. Towards the end of the American Revolutionary War, there was a huge debt on the government’s head due to the discontinuation of this currency in May 1781.

$ 1,000 Bill

It may seem ironic that our country issued $1,000 bills in 1945, whereas today this denomination would be handier to use. These bills were issued with the face of our President Grover Cleveland on one side, and were taken out of circulation along with the $500 bills. It is said that these notes are rare to come by and only seen in collections of exhibitors and by the Numismatic Society.

$ 100,000 Bill

There was a time during the Great Depression when Americans were hoarding gold in all forms. The people were refusing to accept paper currency and were collecting gold coins, gold bullion, and gold certificates.

Franklin Roosevelt, then President, issued an order and made all such Americans hand over the gold to the Government. Paper money began to circulate and gained popularity. This was the time when the highest denomination $100,000 bill was issued so that large federal transactions could be completed easily.

This note features Woodrow Wilson, the 28th President of America, and cannot be legally held by any collector as they were never issued for public use. They are only available at select federal and government museums for educational purposes.

$10,000 Bill

The $10,000 bill was the highest denomination bill issued by the Government for public use. This note features one of our country’s famous politicians, Salmon P Chase, and was printed in 1935. At that point in time, such a large bill was not very useful for the majority of Americans, leading to the government pulling it out of circulation in 1965. There are a few hundred of these notes which are still available with collectors and currency dealers.

$ 5,000 Bill

The government required funds to finance the American Revolutionary War, and it was at this time when the $5,000 notes featuring James Madison were issued. They were pulled out of circulation in 1965 along with the other large denomination notes. Money laundering and counterfeit money were on a high and the country was being flooded by the fake currency; this is what prompted President Richard Nixon’s ban on this bill.

Aluminium Pennies

By the year 1973 copper had become very expensive, and the printing of pennies in copper was turning out to be a costly affair. Aluminium was available in abundance and was cheaper than copper; the government started issuing cents made of aluminium. But as we all know the quality of aluminium is sub-standard, and the government had to withdraw these coins in 1974.

Treasury Notes

These notes were specially printed to pay off the Treasury, who sold their silver to the U.S. government following the Legal Tender Act passed on the 14th July in 1890. The government issued notes in denominations of $1, $5, $10, $20, $50, $100, and $1000 bills. The treasury notes are highly valued today and are a part of high-end collector’s exhibits.

Eagle Gold Coins

These $ 20 gold coins were issued between 1907 and 1932, and were removed from circulation by President Roosevelt in 1933. The President issued orders banning all American citizens from holding gold; in 1937 all these gold coins were melted into bullion and kept with the government.

These coins had an eagle on one side and the Lady Liberty on the opposite side. But even more rare and valuable is the misprinted Double Eagle, which looks just as the name would imply: it’s missing Lady Liberty and an eagle is printed on both sides. In 2002, a Double Eagle auctioned for $7,590,020!

Fractional Currency

The Civil War was a period when citizens were hoarding gold and silver coins; the government issued coins valued between 1 and 50 cents. This currency ended a few years later in 1876.

Demand Notes

The period of the Civil War saw high inflation in the country due to hoarding of gold and silver coins by the Americans. To combat this Secretary of Treasury Salmon P Chase issued the first paper currency against which the citizens were made to exchange their gold and silver coins. These demand notes were then replaced by the current dollar which cannot be exchanged for bullion.

Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States
Safe Deposit Center | 12000 NE 8th Street Ste 100 Bellevue, Washington 98005 United States

If you are looking for a secure place to store your hard drives or other valuables, Safe Deposit Center can help. At Safe Deposit Center, we offer a variety of safe deposit box sizes as well as open vault storage to accommodate your secure storage needs. For more information about our secure, private storage facility please visit https://safedepositcenterwa.com/.