Yes, rolex50, we are saying Do Not, under any circumstances, place anything of value in your checked bags.
We made that mistake in Seattle last summer with Delta after a cruise. My wife put her jewelry in her checked bag, thinking it was safer to check a bag than lug it around. Huge mistake!
Not only did the bag not arrive in Salt Lake City when they delivered it to our house 2 days later, the jewelry was stolen.
I complained as much as I could and got someone in security at the Seattle airport to tell me that Delta's checked bag area has no security cameras and the handlers are free to rummage through bags as they please. Then, they make sure the bag is "misplaced" for a couple of days so that when it shows up at your front door, you don't have any idea who, in a chain of 15 more people, may have stolen your stuff.
Criminals!