Anyone ever think about this in regards to their collection?

[Hawaiian BamBam]

Anyone ever think about this in regards to their collection?

i saw this on another site and it was really sad to see, but made me think about my own collection.


the question is, has anyone ever thought about how to protect ones collection from fire, theft, natural disasters, etc? in a blink of an eye years and years of collecting and tons of money spent, can all be lost in a house fire, burglary or a natural disaster 9like a tornado/hurricane, flood, etc)

what are some safeguards, if any can we take now as collectors, to help safeguard our collections and/or minimize a great loss in case of a disaster?

 

[otgoal]

Some home insurance policies cover collections, others do not. Many people insure their collections separately.
You can also get a safe deposit box, but then you can't enjoy your collection, and many people are surprised to know the items in a SDB aren't insured.
You can also buy a small fire proof/resistant home safe to keep you more valuable items in.

 

[baberuth#3]

I have way too many cards to protect but I do put my most valuable ones in a small safe.

 

[mrmopar]

My biggest risk would probably be fire or theft. An earthquake might do some damage, but not likely to wipe me out. I don't have anything large to fall on my house. Flooding is unlikely, although a leaky roof of something like a broken water pipe could cause problems. Theft could occur, but with the volume I have, they wouldn't have much time to pick the right stuff, and the right stuff is spread out anyways.

I have too much "good stuff" to properly protect from fire/water damage, but I should probably consider picking out my most irreplaceable/valuable items for a small safe. I'd love to have one of those huge gun safes. That would hold a bunch of stuff, but those are bulky and quite expensive (of course it may be worth it if something happened). I don't have proper insurance either, which would be useful for replenishing my cash. If I lost it all, I figure I am done collecting, so the cash would be useful for other things.

 

[nsucolonel]

Im adding a 20x40 fire proof room tom my house for the collection. My biggest scare is I live in New Orleans and we have huricans. So there is really nothing we can do if nature comes.

jason

 

[Taliasen]

Collectible Insurance

 

[Pfinder]

I've thought of that. I've wanted to get a Fire/Water proof safe for about 10 years.
I've heard that BGS Slabs survive Floods (Katrina).
As for Theft Protection I have a 5LB Chihuahua Guard dog and sleep within Feet.
I guess Ideally You would have some kind of Water/Fire PROOF "Inground" "Wallsafe" type thing with some sort of motion sensitive lasers?

 

[oldmarine0311]

when looking at a fire proof safe just remember that most of them will how do i say this shoot a fire proof chemical into the safe if the outside reaches a certin temp. sometimes its a liquid most times its not. so if you use them make very sure that each card is sealed in a water proof type case. i like mopar (live inthe pac nw) and we thankfully dont get alot of them natural desasters.... but if my house was on fire my collection is THE last thing i would be worried about. i have to many family and pets to worry about than cardboard. as for theft if your out here in the sticks snooping around i now of a few places i could put your body after its all said and done and no one would find ya lol. so again im not to worried about that either.

 

[Hawaiian BamBam]

i think the very best investment we can ever do with our collections is buy a really nice safe, yes its expensive, but think how much it would be worth it, if your cards got stolen, damaged in fire, tornado, hurricane, flood, etc


many, many people spend alot anyway on cards and supplies, why not use that money to buy a nice safe instead? its a one time investment that protects forever. think about it.

 

[mj23bullsfan]

i have inquired about collectors insurance thru my insurance agent when i finally got renters ins.

he told me i would have to have a professional card dealer go thru my collection to verify it is worth what i list. i've got everything cataloged on my computer, with hi bv. even at lo bv it's still a pretty penny, and i don't see why i need a professional opinion when you don't need one for regular renters insurance.

so for now, i just hope there's no fire, tornado etc...

good question tho bam!

paul

 

[valediction]

i have inquired about collectors insurance thru my insurance agent when i finally got renters ins.

he told me i would have to have a professional card dealer go thru my collection to verify it is worth what i list. i've got everything cataloged on my computer, with hi bv. even at lo bv it's still a pretty penny, and i don't see why i need a professional opinion when you don't need one for regular renters insurance.

so for now, i just hope there's no fire, tornado etc...

good question tho bam!

paul

Because there is often a HUGE difference in stated value and real world value.
Collectibles are a whole different animal than appliances and electronics, or carpeting, drapes, etc

1988 Topps vending case $69.99 shipped

bust it open, catalog the cards and if EVERY one of them was the 5 cent common, that's $600 BV, add in the prices for stars, any tougher variations (Comstock error, McGwire white triangle, etc that are .25-$2 in my 2008 SCD catalog which is usually lower than Beckett for that type of material, and you can easily have a $700 'collection'. If you've been collecting 30 or 40 years you may have dozens of monster boxes of .05-.10 commons. That's just the commons, what about my shoebox full of rookies? my 5 $50 BV Topps Ripken rookies, my 4 1989 UD Griffeys at $40 ea, my (8) 90 Leaf Thomas' at $12 each, my $70 Brett rookie, my $50 Yount Rookie plus the minis at $105 and $75, etc etc. I've got (13) 89 Fleer Griffey RC's, according to Checkoutmycards they book at $10 each. That's $130 insurance value, but I can buy 13 of them on the same site for $22.25 Then we've all got stuff that's the other way too, $3 BV cards that we spent years looking for and every time you saw one it went for $35. Then there is the stuff that doesn't have a book price, what is an autographed 1952 Topps Johnny Mize worth? Then there's the condition factor, most people quote NM or MT prices and a lot of the time the cards aren't in those conditions. Then there are professionally graded cards, what is the SMR on a Perfect 10 1990 Leaf Thomas? It's easy to quote that value and 'forget' to mention yours is graded by GEM grading, or KSA, not PSA or BGS.

 

[mj23bullsfan]

i understand what you're saying, but to think someone who's been collecting for years, doesn't understand the values? and where do you find a "professional" to come check out your collection? there's got to be some other way of getting your cards insured, yes?

paul

 

[mintman2]

i think the very best investment we can ever do with our collections is buy a really nice safe, yes its expensive, but think how much it would be worth it, if your cards got stolen, damaged in fire, tornado, hurricane, flood, etc


many, many people spend alot anyway on cards and supplies, why not use that money to buy a nice safe instead? its a one time investment that protects forever. think about it.

Much talk here regarding safes, especifically fire proof safes. Be aware that a fireproof safe may keep the contents inside from catching fire but they can still be basically destroyed by high temps. Unlike something like a will, the value of a card is based on it's condition. It may not be consumed by fire but a 750 degree temperature would sure put a hurtin' on a piece of cardboard, and if it's in a plastic holder you can kiss it goodbye !

If in doubt, put a couple cards in your oven, set it to 500 (highest most residential units will go), and check on your cards after 20 to 30 minutes. Be sure to have a couple in top loads and maybe a screw down or two .

i understand what you're saying, but to think someone who's been collecting for years, doesn't understand the values? and where do you find a "professional" to come check out your collection? there's got to be some other way of getting your cards insured, yes?

paul

I asked my agent about putting a rider on my homeowners insurance and they said I would need somebody like the owner of a local card shop to value my collection. AND, I'd have to have it done every year when my policy was renewed.

You could always check out the link provided by Taliasen. If you do I'd be interested to hear exactly how that works.

 

[mj23bullsfan]

ya, i saw that link tal put up. i will definately check that out

paul

 

[valediction]

i understand what you're saying, but to think someone who's been collecting for years, doesn't understand the values? and where do you find a "professional" to come check out your collection? there's got to be some other way of getting your cards insured, yes?

paul

I understand what you're getting at, but to expect an insurance company to just take you at your word when it comes to thousands of dollars, in some cases tens or hundreds of thousands, is a LOT to ask. Honesty is far from a universal trait.
It wouldn't take much to raise the 'value' of a collection a few hundred just adding some vintage stars here and there, some misinformation scattered about, etc. wrong listing
That card is a $15 2002 Archives Dave Parker if memory serves, the 2003 Fan Favorites was a 1977 Topps design. A simple misdesignation either through honest lack of knowledge or deliberate deception and you're $55 ahead. I was at a show this year where PSA was set up, a guy came in with a gorgeous 1971 Topps Nolan Ryan looking to get it graded. The guy at the table started talking to him and said before we get too far, May I take a look at it? He noticed marker ink on the edge in one spot, and that made him get a tape measure out, it was just a little short both top/Bottom, and left/right. The customer was heartbroken, which leads me to believe HE was duped when he bought it. If he hadn't brought it in, he might still believe it was a $150 card and claim it on his insurance list. Here's a picture of the 1961 Topps Banks, Musial, Snider and Maris, but if I list the the Frank Robinson, Killebrew, and Eddie Mathews as part of my holdings, that's another $90 bump

 

[eenrique25]

I don't worry much about theft, there's always someone home and I mean always, and if for some reason everybody leaves I have 4 Giant Schanuzers guarding it, and one of them sleeps just next to the closet where I store it, in terms of natural disasters it's hard to get one where I live and I would probably loose everything then I would cry like a baby lol.

 

[Hawaiian BamBam]

thanks guys for your posts, i appreciate it. i never thought about the whole cards in plastic and heat. yikes!! how do we protect our cards from fire/heat then? any suggestions?

 

[valediction]

thanks guys for your posts, i appreciate it. i never thought about the whole cards in plastic and heat. yikes!! how do we protect our cards from fire/heat then? any suggestions?

I think it's pretty much a case of just take reasonable precautions, and if something happens, it happens. You could go crazy and broke trying to protect your cards from everything, smoke, uv light, heat, moisture, theft, etc. As someone else pointed out, if I'm in a burning house or a hurricane/tornado is headed my way, or if I'm out to dinner with the love of my life and someone breaks in, a piece of cardboard is WAY down the list of things I'm worried about at that moment. Later, yeah, it'd stink to lose a big collection, but I'd hand it over/toss it into the fire myself if I had to choose between that and a loved one. It's cardboard and ink.

 

[espnwayne]

I called the toll free # to the collectible insurance link and the lady was at lunch! hahaha
I will update with more info after I talk to her...

 

[espnwayne]

In speaking with the rep this sounds pretty straightforward. Actually very simple as insurance policies go. I think if you have $10,000 worth of stuff this could provide good peace of mind.