Cash? In a checked bag? A watch? Rings? You don’t even have to put those items in your carry-on; they can go in your pockets or you may simply wear them. We’ve been over this before, but we’re going to go over it again: Do not put anything valuable in your checked baggage, period—unless you’re willing to take the chance that it will be lost, damaged, or stolen, and you recognize that you will most likely not be reimbursed for the loss.
Now, let’s back up a bit: Really, no reimbursement? Well, it is possible to get reimbursed for some lost valuables, but it’s rare and usually an exception. There is even debate about whether it is legal for airlines to exclude all of the items they do from baggage liability, but do you want to go to court to find out whether you can get your airline to pay you for your lost watch or iPad? Wouldn’t it be better to carry them with you and not have to worry?