Couldn't he have done the appraisal just by verifying the coins and their cert numbers in person, then take a copy of that info on a piece of paper? There is no need beyond a "sight-seen" verification, UNLESS you were asking if any of them were upgrades.
Then you could have taken the coins home with you that day. And he could have given you values at both of your leisures.
just sayin'
Given the lack of response, must be a dumb question.
I didn’t think so…..that’s what I was getting at in my response. Don’t really understand why the coins needed to stay at the shop to have the appraisal done.
Couldn't he have done the appraisal just by verifying the coins and their cert numbers in person, then take a copy of that info on a piece of paper? There is no need beyond a "sight-seen" verification, UNLESS you were asking if any of them were upgrades.
Then you could have taken the coins home with you that day. And he could have given you values at both of your leisures.
just sayin'
Given the lack of response, must be a dumb question.
That reminded me. One of the generic $20s has cool copper spots on it (2nd from the left). I'd pulled it out of the box to photograph it before I took them in and I inadvertently left it under some papers on my desk. Offered to photograph it when I got home and text him a picture. Even said I'd write a post-it to prove it was legit from my collection and from just then. He wanted to see it in person. Another trip all the way to the shop.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@jmlanzaf -"There is nothing in that story that suggests anything other than sub par customer service. "
Keeping another party's valuable property in one's possession longer than necessary is a poor, and unwise business practice. Negligent handling of valuable property seems to be evident here, too, no? What if the owner didn't steal the coins but an employee or customer did? I see poor security and poor business practices here, too, not just poor customer service.
Speculation that the coins could be stolen is just speculation but this dealers practices seem to make it more likely.
Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
@Cougar1978 said:
** I simply go with Hugh Woods Ins**
Does anyone have any claims experience with this firm?
and who is their underwriter?
as for the OP.
Why would an insurance Co not accept a well-known person's spreadsheet containing purchase costs as evidence of basic insurance value? especially with certified, described and graded coins?
if it would ever come to a claim the underwriter will try every trick in the book and some,to reduce or contest these values to reduce their payout, despite the appraisals you submitted. i suggest you read all the small print in such a policy or rider.
H
No experience with claims. I was a Prudential agent back in the day and still follow the industry to an extent. It's my experience that weak companies fold pretty quickly. Hugh Wood has been in business for 35+ years. I'd like to hear stories from claimants, though.
To your question about using my personal appraisal: My insurance provider asked for a 3rd party appraisal. That said, after all of what happened, I sent the spreadsheet I'd created along with my notes for most recent comp sales I found during my 3-hour long "appraisal". I explained to my agent that I'm a 40+ year collector, a power seller who has sold online since 1998.
To my surprise my provider said he'd spoken with his underwriter and they found my documentation ample for them to write the policy. However, the coverage was a bit weaker, and is more than twice Hugh Wood's offer.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
I have called around to try to get my coins appraised for insurance and dealers around me charge anywhere from 200 to 350 an hour which I think is a little outragous!
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
Our appraisals are delivered (i.e., a multi-page value breakdown with recommendations and comments) within 5 business days of us inventorying the estate (unless otherwise stated at the time of inventory).
MLAeBayNumismatics: "The greatest hobby in the world!"
Comments
I didn’t think so…..that’s what I was getting at in my response. Don’t really understand why the coins needed to stay at the shop to have the appraisal done.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
That reminded me. One of the generic $20s has cool copper spots on it (2nd from the left). I'd pulled it out of the box to photograph it before I took them in and I inadvertently left it under some papers on my desk. Offered to photograph it when I got home and text him a picture. Even said I'd write a post-it to prove it was legit from my collection and from just then. He wanted to see it in person. Another trip all the way to the shop.
--Severian the Lame
Yay! Another pointless semantic debate. What's the difference?
So I could speculate that half of your coins were stolen from a blind widow without making an allegation?
@jmlanzaf -"There is nothing in that story that suggests anything other than sub par customer service. "
Keeping another party's valuable property in one's possession longer than necessary is a poor, and unwise business practice. Negligent handling of valuable property seems to be evident here, too, no? What if the owner didn't steal the coins but an employee or customer did? I see poor security and poor business practices here, too, not just poor customer service.
Speculation that the coins could be stolen is just speculation but this dealers practices seem to make it more likely.
Does anyone have any claims experience with this firm?
and who is their underwriter?
as for the OP.
Why would an insurance Co not accept a well-known person's spreadsheet containing purchase costs as evidence of basic insurance value? especially with certified, described and graded coins?
if it would ever come to a claim the underwriter will try every trick in the book and some,to reduce or contest these values to reduce their payout, despite the appraisals you submitted. i suggest you read all the small print in such a policy or rider.
H
I believe Lloyds is their primary underwriter:
https://hughwood.com/about-us/
No experience with claims. I was a Prudential agent back in the day and still follow the industry to an extent. It's my experience that weak companies fold pretty quickly. Hugh Wood has been in business for 35+ years. I'd like to hear stories from claimants, though.
To your question about using my personal appraisal: My insurance provider asked for a 3rd party appraisal. That said, after all of what happened, I sent the spreadsheet I'd created along with my notes for most recent comp sales I found during my 3-hour long "appraisal". I explained to my agent that I'm a 40+ year collector, a power seller who has sold online since 1998.
To my surprise my provider said he'd spoken with his underwriter and they found my documentation ample for them to write the policy. However, the coverage was a bit weaker, and is more than twice Hugh Wood's offer.
--Severian the Lame
I have called around to try to get my coins appraised for insurance and dealers around me charge anywhere from 200 to 350 an hour which I think is a little outragous!
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
Bump for update in the first post.
--Severian the Lame
Our appraisals are delivered (i.e., a multi-page value breakdown with recommendations and comments) within 5 business days of us inventorying the estate (unless otherwise stated at the time of inventory).