Need for a safe deposit box

[c1000]

I've never felt the need for a safe deposit box, but recently an elderly local relative has wanted to put their affairs in order and apparently has a stash of hand-me-down jewelry and some gold coins in a safe deposit box at a bank in Central.

Since they are due to be handed down to us next, she asked if we have a safe deposit box (we don't). The next suggestion was to open an account at that bank to see if her box can be transferred, or alternatively become a joint account holder.

Can't say that I'm thrilled to open another bank account and pay fees in perpetuity just to stash a bunch of stuff that we'd never wear/use. Has anyone come up with an alternative approach? Is typical home insurance coverage sufficient to cover these items? What do most people actually store in their safe deposit boxes to make it worth the hassle?

[SirNotAppearing]

Ask at the largest branches of the largest banks if they have any available and if they are prioritised for a certain level of customer, then become one of those customers.

Gold coins can be sent to me for safekeeping.

[shri]

Figure out how to sell the gold and buy a low cost gold ETF.

You can also get yourself added as an authorized user of the box. Unfortunately many banks are just slow as fuck .. we asked for an appointment at CCB to add an authorized user only to be told the next appointment was several months away l.

[Elefant&Castle]

Tell your elderly relative you don't need it, and can she sell the jewelry and transfer the proceeds by fps.

[pin]

I see Tai Sang Bank regularly advertising safety deposit boxes in their Quarry Bay branch. I haven't myself checked it out, but may be an option.

[Trebor]

What do most people actually store in their safe deposit boxes to make it worth the hassle?

Guns, multiple passports and a load of money.

Or maybe i just watched too many movies

[Morrison]

In Hong Kong it’s not actually safe, Google it

[LifeInHK]

.... has a stash of hand-me-down jewelry and some gold coins in a safe deposit box at a bank in Central.

Gold coins=> sell the coins and buy gold ETF (exmple 2840 or 3081) ; easier to manage
Jewelry => two choices
a) buy a small safe and keep it in your home [if you have the space];
b) buy a small safe and put it in storage unit , their price of the storage unit is almost the same as bank safe deposit and you also get storage space added in. Also storage companies have cctv too and their security is as good as bank.
You can google these for their website and prices; each location has different price. These are 3 that my office has used previously:
SC Storage
StorHub
Storefriendly
Or if you wanna stay "low-profile"; then wrap your coins or jewelry with clothes/shirts and put them into those storage tubs (with wheels that u can buy at Japan Home Centre). You just needa remember and be aware that you donot throw them out mistakenly as garbage !

[tparker]

My Mum always had one, but the contents were mostly sentimental. Obviously a good place to store valuables too (we've been burgled more than once at home) - but then it disincentivises you from using any of the contents unless you live right next door! Ultimately its usefulness is for you to decide.

What I would say: bear in mind that dealing with probate when a safety deposit box is part of the mix requires the Home Affairs Department to take inventory. This can be slow and may delay the entire process. I was authorised user of said box but not the owner, so ultimately was locked out of it until all the bureaucracy was completed.

(FYI: bank account wasn't necessary, though you get a very slight discount on the annual fee)

[aquaman]

stick your jewellery on the underside of the toilet water tank cover like they do in the movies