My Dad used to read Playboy and Penthouse every month too, but he didn't save'em...when he was finished with each issue he'd put 'em on the recycling pile in our basement, where of course my brother and I would "liberate" them and stash them away. After a couple of years, we had amassed a "library" that was the envy of all of our friends.
I remember when he was supposed to have "the talk" with my brother and I when we were about 11 or 12 years old, the extent of the discussion was "you guys have been stealing my Penthouse magazines for how many years now? You probably know more about it than I do."
I have a similar story. The above mentioned friend, along with myself, tore into his Dad's closet which housed the collection while his parents were gone for the day. We took extra care to make sure we placed all of them back in the exact order that we found them. After they returned home, his Dad came into my friend's room closing the door behind him. "I know you boys went through my magazines" he said. We were in disbelief because of the precautions we had taken. He continued, "I don't think there is anything in there too bad for you to see. It's just a matter of privacy." "Chris", he said looking right at me, "would you like it if I went through your closet and found pictures of your girlfriend naked?". It all made sense to me. But how the hell did he know about it? I had to ask. He explained that in our haste we left a flashlight sitting outside that had been on top of the magazines. His Dad and I have been great friends since and I still respect the man. Not only for his grand collection but teaching life lessons.