Top 5 Best Coin Storage Solutions

2:06 am by

Coins have a rich history. If you are a coin collector, it makes sense to store your coins safely so that they are not lost or damaged. The monetary value of properly stored coin collections cannot be underestimated. (It is important to purchase quality coins from a reputable coin dealer, of course.)

Coins tend to react with various environmental factors. (Gold coins don’t tend to react as badly as silver coins, though.)  Some of the causes of coin damage include exposure to humidity, contact with acids, extreme temperatures, improper handling, contact with chlorine, and air pollution. Here are some of the best storage ideas to protect your coin collection form damage.

  1. Choose the best coin holder.  Do not store your collection inside jars, cigar boxes or dresser drawers; these areas cause huge damages to your collection. You should buy a coin album or a coin folder to house your coins safely.
  2. Select a good location.  Where you store coins determines how long the precious items last. Do not store coins in areas with extreme conditions such as the basement. Make an effort to store them under conditions that don’t vary too much.
  3. Safe deposit box.  This is one of the safest places to store the collection. It is wise to hire the services of a local bank where the coins will be stored safely in a safe deposit box. This option may seem very expensive but it is very rewarding in the end. This solution ensures that coins are safe from criminals and fire. At the bank, silica gel is placed inside the safe deposit box to protect the coins form water vapor damage. The silica gel has the ability to absorb moisture from the environment thus keeping your coins in good shape.
  4. Home/office safe.  A cheaper alternative to storing your coins in a bank is purchasing a home or office safe deposit box. This method of storage is very safe as you eliminate extra charges for storage. Make sure that you constantly buy silica gel to minimize the effects of water vapor.
  5. Metal cabinets.  You should never store your coins in wooden cabinets as they emit harmful chemicals, which cause damage. Metal cabinets will provide a safer environment for storage as they do not pose any risk to the condition of your coins.
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Return unneeded items immediately

5:46 am by

We recently had some storms in our area, and the power went out over a large part of our state.  (We got our power back within a couple of days, thankfully.)

In preparation for the next power outage, we got a couple of box fans that could run off of a generator.

One of the fans seemed like a fairly powerful model — and was priced higher than other models — but when we got it home, the power wasn’t that great.  We expected more.

Seeing that this fan wasn’t what we wanted, we returned it immediately.  The danger with not doing so is that the store might think that we used it for a few days, and then returned it, without ever expecting to keep it.  In essence, it might have appeared that we were just renting it for free.

The lady at the customer service center gave us no problems when we returned it.

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Create a “do not buy” list

6:16 am by

How many times have you gone to the store, and bought something that you already had plenty of at home?  Recently I bought a gallon-sized container of all-purpose cleaner at Costco, only to find the other gallon-sized container of all-purpose cleaner I had bought a few months back tucked underneath the sink.

Darn it. 🙁

Had I had a “do not buy” list in place like My Broken Coin had implemented, I would have saved myself having to store two gallons of cleaning fluid.  That certainly would have been on my list.  We’re good about keeping track of what we need, but not as good about what we don’t need.

I think the trick of this method is to review the list regularly so that when the need arises to take something off of the “do not buy” list, it’s taken off.

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Vending machies cost an arm and a leg

2:59 am by

A colleague went to Subway and offered to bring back lunch or dessert.  I got some cookies and he said that I could just buy him a soda at some point instead of giving him cash.

The sodas out of the vending machine were $1.25 for a 20-ounce bottle.  This was about the same price as the cookies I got, so it was a fair trade.

I instead got a six-pack of 24-ounce bottles for $3.50 at the grocery store.  The cost of two larger bottles from the store was the same price as one smaller bottle from the vending machine.

“There’s a personal finance lesson somewhere in there,” I told him.

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