The total value of the items? An estimated $10 million-plus! In 2014, he opened the box to find that his watches - along with some other valuables and documents he had in the box - were missing. That bank changed ownership many times over the years, eventually becoming a Wells Fargo. Why Safe Deposit Boxes Could Be a Bad IdeaĪ New York Times article tells the story of a New Jersey man who had kept his collection of rare watches in a safe deposit box at a local bank since 1983. If you have valuables or important documents stored in a safe deposit box at a bank or credit union, you should know that your items might not have the protection you think they do.
