Anyone using Safe Deposit Box at Sharps Pixley in London?

[LawrenceChard]

2 hours ago, dicker said:

There is almost certainly more to that robbery than might be immediately obvious.  

I don't think so. The story has been told many times, and it seems fairly clear and straightforward.

The Hatton Garden safe deposit was owned by owned by Hatton Garden Safe Deposit Ltd. (managed by members of Bavishi, Shah and Virani families of Indian descent from Sudan), absentee owners. 

From all accounts, it was just a cash cow for them, with no money spent in improving security.

We have spoken to a few security specialists and expert, who told us the vault itself was about 60 years old, with think concrete walls (about 1 metre), but hardly any steel reinforcing, making it very low grade by modern standards, possibly grade 1 or 2 . Alarm activation reports was not treated with more care, seemingly no remote CCTV access, etc. In summary, the poor security bordered on negligence. The users used it for convenience, most had little or no insurance while stored. Most of them seemingly failed to enquire about the security ratings and systems.

The crooks were all old hands, with much experience, but past their sell-by date, and slighly incompetent, with the possible exception of "Basil" (Michael Seed), who almost got away with it.

Some of the deposit box contents might have been of interest to tax authorities, but nothing is likely to come to light.

I took great interest at the time, and since, from professional interest, We certainly wanted to know how our own security compared. The answers I got from the experts was extremely reassuring.

[kimchi]

HGM was NOT an inside job ofc.

[dicker]

12 minutes ago, LawrenceChard said:

I don't think so. The story has been told many times, and it seems fairly clear and straightforward.

The Hatton Garden safe deposit was owned by owned by Hatton Garden Safe Deposit Ltd. (managed by members of Bavishi, Shah and Virani families of Indian descent from Sudan), absentee owners. 

From all accounts, it was just a cash cow for them, with no money spent in improving security.

We have spoken to a few security specialists and expert, who told us the vault itself was about 60 years old, with think concrete walls (about 1 metre), but hardly any steel reinforcing, making it very low grade by modern standards, possibly grade 1 or 2 . Alarm activation reports was not treated with more care, seemingly no remote CCTV access, etc. In summary, the poor security bordered on negligence. The users used it for convenience, most had little or no insurance while stored. Most of them seemingly failed to enquire about the security ratings and systems.

The crooks were all old hands, with much experience, but past their sell-by date, and slighly incompetent, with the possible exception of "Basil" (Michael Seed), who almost got away with it.

Some of the deposit box contents might have been of interest to tax authorities, but nothing is likely to come to light.

I took great interest at the time, and since, from professional interest, We certainly wanted to know how our own security compared. The answers I got from the experts was extremely reassuring.

I imagine that it is quite startling when you do have a vault....

Certainly for those involved in the theft itself, it is a prime example of why crime really does not pay.  Others may well have got what they wanted from the robbery, but that is supposition at best....

There are rumours that accompany every big robbery, and I suspect made up by the tabloids!

- Brinks Mat - need I say more but widely believed to have financed early development of parts of Docklands. Police still dig up various areas looking for missing bullion...with no luck so far

- Baker St Robbery - Allegedly to retrieve compromising photos of Princess Margaret

- Security Express - At least one of the Hatton Garden robbers was involved in this robbery

- Securitas - 30m still not recovered and a few people seem to have got away with it.  154 million was left behind because of the sheer volume of currency....!

- Hatton garden - allegedly related to John Palmer in one shape or form who was shot dead shortly afterwards

 

What we hear less of, is how banks and insurers go after criminals.  They do, and are surprisingly successful in recovering funds........

 

 

[LawrenceChard]

47 minutes ago, dicker said:

What we hear less of, is how banks and insurers go after criminals.  They do, and are surprisingly successful in recovering funds........

 

It's probably when the crooks go into their local bank to deposit £30 million in cash! 😎

[Bullion70]

On 03/11/2021 at 12:40, LawrenceChard said:

Is anyone using Safe Deposit Boxes at Sharps Pixley in London?

No, but then I do have access to not one, but two, bigger better ones at special rates.

7 ounces of gold and 80 ounces of silver might not be a huge amount of PMs, but I start feeling uneasy keeping them at home.

It is worth being careful, and considering options.

I was considering the small safe deposit box at Sharps Pixely.

Probably a very sensible choice. I don't know what they cost, but I feel sure their facilities will be good.

My only doubt is that I could only access my assets 40 hourt per week (monday to friday from 9 am to 5 pm).

Not a terrible trade-off, unless you are totally paranoid.

A safe at home is also an option, but you would need a decent one, which is expensive, you would probably still need insurance, and at the worst you could be forced to open it under duress. You could have a timelock on it, but then you don't have 24/7 access.

Sharps security would be far better the Hatton Garden vault. 😎

Is there any good home insurance that you can recommend, one who would cover gold coins? I believe some insurance companies have clauses that cover gold jewelry but not coins.

[LawrenceChard]

1 minute ago, Bullion70 said:

Is there any good home insurance that you can recommend, one who would cover gold coins? I believe some insurance companies have clauses that cover gold jewelry but not coins.

No, there isn't.

You might be best to post a new topic about insurance cover, because other TSF members may know something useful.

Google might help.

🙂

[Bullion70]

12 minutes ago, LawrenceChard said:

No, there isn't.

You might be best to post a new topic about insurance cover, because other TSF members may know something useful.

Google might help.

🙂

Thanks. I am having second thoughts on storing at home given feedback from others.

Is there a list of good, secure insured storage in London that you can recommend for gold coins? I am using Metropolitan Safes currently.

 

[GoldDabbler]

16 minutes ago, Bullion70 said:

 

Is there a list of good, secure insured storage in London that you can recommend for gold coins? I am using Metropolitan Safes currently.

 

https://www.sharpspixley.com/safe-deposit-boxes

[LawrenceChard]

3 hours ago, Bullion70 said:

Thanks. I am having second thoughts on storing at home given feedback from others.

Is there a list of good, secure insured storage in London that you can recommend for gold coins? I am using Metropolitan Safes currently.

 

 

2 hours ago, GoldDabbler said:

https://www.sharpspixley.com/safe-deposit-boxes

This topic just went full circle.

🙂

[GoldDabbler]

On 06/05/2022 at 20:59, Bullion70 said:

Thanks. I am having second thoughts on storing at home given feedback from others.

Is there a list of good, secure insured storage in London that you can recommend for gold coins? I am using Metropolitan Safes currently.

 

Seriously, is it worth taking chances storing pms at home when you can rent a small box for a couple of hundred quid a year? Any insurance company willing to insure pms at home would probably charge a bigger premium than the cost of renting the deposit box.

Personally I'd rather have six sovereigns in a deposit box in a secure location than ten in a shoebox at home. I also think renting a box adds to the fun. I'm more of a hobbyist than an investor and dropping a newly bought coin off at the dep centre is oddly satisfying. Then again I always was a big kid. Simple things lol  

Edited May 8, 2022 by GoldDabbler

[Paul]

23 minutes ago, GoldDabbler said:

Seriously, is it worth taking chances storing pms at home when you can rent a small box for a couple of hundred quid a year? Any insurance company willing to insure pms at home would probably charge a bigger premium than the cost of renting the deposit box.

Personally I'd rather have six sovereigns in a deposit box in a secure location than ten in a shoebox at home. I also think renting a box adds to the fun. I'm more of a hobbyist than an investor and dropping a newly bought coin off at the dep centre is oddly satisfying. Then again I always was a big kid. Simple things lol  

You're not odd I have similar feelings dropping stuff off at sage deposit, also a nice reason to pop into local city for a few beers and a slice of pizza on my day off ! 

[GoldDabbler]

8 minutes ago, Paul said:

You're not odd I have similar feelings dropping stuff off at sage deposit, also a nice reason to pop into local city for a few beers and a slice of pizza on my day off ! 

That's the thing isn't it? A trip into the city and making a day of it. Spot of lunch, bit of a sight see and leave with a feeling of accomplishment. I don't feel so crazy now lol  

[Timberwolf]

On 30/10/2021 at 09:51, chrisdobb said:

Your best security is silence.

The less people who know what you have got the less chance of any problems.

Just tell someone but then tell no one, would be my advise.

+1. It's for this reason that my address is only given to reputable bullion dealers, for delivery. While I believe the majority of sellers on this forum are  trustworthy, I'm not running the risk of sending my address to dozens of forum members to buy PM's cheaper than dealers. It's just not worth the risk.

It only takes one rotten apple to spoil the barrel after all

 

[GoldDabbler]

1 hour ago, Timberwolf said:

+1. It's for this reason that my address is only given to reputable bullion dealers, for delivery. While I believe the majority of sellers on this forum are  trustworthy, I'm not running the risk of sending my address to dozens of forum members to buy PM's cheaper than dealers. It's just not worth the risk.

It only takes one rotten apple to spoil the barrel after all

 

Everybody and their wife knows anyway. From the postie who's seen enough parcels to know what's what and where it came from, to the kids at school telling their friends 'Dad's got gold!' to your mates and neighbours who casually wander into your home while you are pawing your latest sov before dropping it off at wherever people store these things, and not forgetting the spouse who always gossips to her workmates and fellow gossipers that they're, we, you, are investing in whatever you invest in. Best solution all round is locking it someplace with a lot of metal and a lot CCTV. Preferably a long way from home.  

[Timberwolf]

35 minutes ago, GoldDabbler said:

Everybody and their wife knows anyway. From the postie who's seen enough parcels to know what's what and where it came from, to the kids at school telling their friends 'Dad's got gold!' to your mates and neighbours who casually wander into your home while you are pawing your latest sov before dropping it off at wherever people store these things, and not forgetting the spouse who always gossips to her workmates and fellow gossipers that they're, we, you, are investing in whatever you invest in. Best solution all round is locking it someplace with a lot of metal and a lot CCTV. Preferably a long way from home.  

Reputable bullion dealers don't leave identifying markers on the packaging. Plus when going above a certain value, the bullion dealers don't use royal mail, so the postie would never even see the package.

Edited May 8, 2022 by Timberwolf

[GoldDabbler]

1 hour ago, Timberwolf said:

Reputable bullion dealers don't leave identifying markers on the packaging. Plus when going above a certain value, the bullion dealers don't use royal mail, so the postie would never even see the package.

I don’t think it matters what they’re dressed up as if they have shenanigans in mind. I try not to be too paranoid about what people may or may not do. Not worth the sleepless nights.

[Timberwolf]

41 minutes ago, GoldDabbler said:

I don’t think it matters what they’re dressed up as if they have shenanigans in mind. I try not to be too paranoid about what people may or may not do. Not worth the sleepless nights.

 

It's logical (to me at least) that giving your address to dozens or more 'random' people on this forum, having the postman deliver them, exposes you to much risk.

IMO it's saver buying (larger) amounts via reputable dealers (such as chards) which will not use Royal Mail for the larger orders. This means less deliveries, no middle man, and discrete packaging. UPS (or similar suitably insured delivery company) delivering a box, with no obvious contents and a 'discrete' portal return address on the  box helps me sleep at night.

A postal box is another alternative for buying on the forum.

[GoldDabbler]

22 minutes ago, Timberwolf said:

 

It's logical (to me at least) that giving your address to dozens or more 'random' people on this forum, having the postman deliver them, exposes you to much risk.

IMO it's saver buying (larger) amounts via reputable dealers (such as chards) which will not use Royal Mail for the larger orders. This means less deliveries, no middle man, and discrete packaging. UPS (or similar suitably insured delivery company) delivering a box, with no obvious contents and a 'discrete' portal return address on the  box helps me sleep at night.

A postal box is another alternative for buying on the forum.

To date I haven’t ventured past Costco and the Royal Mint. Although I’m quite eager to try private sales as most sellers on here are probably not home invasionalists. Also, I like a bargain and anyone looking though my house for gold would be looking in entirely the wrong place. And I’d be happy to direct them to where it’s kept. A grade 10 vault lol.

On a serious note I do understand your concerns. Chatting about gold acquisition on a public forum seems counter intuitive. In fact I’m talking myself out of making any online purchases at all now lol.  

[stackspot]

12 hours ago, Paul said:

You're not odd I have similar feelings dropping stuff off at sage deposit, also a nice reason to pop into local city for a few beers and a slice of pizza on my day off ! 

Are you denied access during lockdown?

[CANV]

You can hide a huge value of gold around your house easily.  The main problems being a fire ,

some gangster with bolt croppers to your wife’s fingers (ok that’s not so bad, could be yours )

remebering where you left it all ..

 

dont most house insurance policy’s cover 30 k of valuables including PM now ? 

[Paul]

10 hours ago, stackspot said:

Are you denied access during lockdown?

it was just the case of restricted hours and appointment only booking a slot for my safe deposit box 

[Paul]

11 hours ago, Paul said:

it was just the case of restricted hours and appointment only booking a slot for my safe deposit box 

This was for my local Safe deposit box in Newcastle by the way, not Sharps Pixley's facility in London  

[bilko]

On 03/11/2021 at 14:56, dicker said:

There is almost certainly more to that robbery than might be immediately obvious.  

Just curious but what does a small safety box come in at? Asking for a friend 👍👍

[modofantasma]

26 minutes ago, bilko said:

Just curious but what does a small safety box come in at? Asking for a friend 👍👍

There are many options in most towns or cities. Best bet just search desired town and safe deposit box. Some open Sunday too. Can be from as little as £10 a month. 

[GoldDabbler]

1 hour ago, bilko said:

Just curious but what does a small safety box come in at? Asking for a friend 👍👍

£100 - £200 quid a year for a smallish box depending on the pamper and plush surroundings level. The place I use has a policy of being a verified customer accessing a deposit box escorted by a guard and custodian. Good for scenarios where someone has frogmarched you into the deposit centre to rob your gold. Ample time to give a guard the nod and get the Sweeney down while your tea-leaf is waiting to fill his pockets in reception.