Do you insure your mail shipments?

Orlena

I have noticed over the years that shipments of coins are rarely insured. I buy high cost rare coins from top dealers, sometimes eBay, a variety of mints and very few times are they insured. I’ve never had a problem as a buyer or seller but with the proliferation of mail thieves this seems like a area ripe with opportunity. Is insurance something I need to reconsider?

YQQ

usually, dealers and auction houses have their own insurance. The item is technically theirs until you have received it. This is the way it is in Europe and I believe it is also here in Canada and USA like that.

USSID17

@Orlena said:
Do you insure your mail shipments?
I have noticed over the years that shipments of coins are rarely insured.

Coins?......all the time and every time! Where exactly have you noticed that?

Orlena

Seems like all the shipments from the US Mint, Royal mint, Canadian mint are shipped economy. Also a couple of larger dealers I have purchased from ship registered but not necessarily insured. I may be mistaken but I don’t think so.

I have some large ticket items on eBay and I’m definitely insuring them all as they go out.

USSID17

I'm only referencing my coins going and coming from TPG'ers.

ifthevamzarockin

I ship almost everything USPS and everything under $200 I self insure/roll the dice.
Everything over $200 gets insurance.
Most items over $1000 are sent Registered & insured.

Orlena

Thanks to all for responses. I think I’ll insure everything over $100

Sammy_Coins

I only ship USPS and Insure all my coins I send for grading.

derryb

1. USPS Registered fee includes insurance at declared value.
2. Any value over $1000, it is normally cheaper to send insured registered.
3. If item is bullion a usps claim will only be paid in full if sent registered. Otherwise you get a token <$20 reimbursement for your loss

bearcave

@ifthevamzarockin said:
I ship almost everything USPS and everything under $200 I self insure/roll the dice.
Everything over $200 gets insurance.
Most items over $1000 are sent Registered & insured.

This.

JWP

I've had so many items mis-directed and even lost - can not trust the USPS for 1 nano second. I vote to insure.

jimineez1

I insure if over $500 or so, but use a 3rd party and they require signature confirmation. My package normally just looks like a regular uninsured priority mail box but it is insured. USPS insurance on priority is worthless (esp for bullion metals ) but it’s much more expensive than my insurer charges. Once over $5000 it goes registered and insurance is similar in cost.
All that said, the usps has been great through the years and my boxes always get delivered so far.

FYI some of the big guys I know use fedex.