Sending coins to TPG services……
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Posts: 413 ✭✭✭✭
I have only sent a few coins to TPG services, but each time I send something whether FEDEX or the USPS I seem to get the ‘evil eye’ and guilt trip questions of “what is in your box” and the dreaded “how much do you want it insured for?” So now I use a private insurer which significantly eased my insurance anxiety, but I just hate sending coins out because my mind wanders and I start thinking they will magically disappear before they arrive at the grading service. I was told to use “stamped metal” as the descriptor and even that raises eyebrows as they start wondering what I’m sending. Does anyone else get the ‘stomach butterflies’ when they are sending coins and currency off for grading? What do you list for the contents? Also, do you find when sending coins in that using vouchers vs express services makes a difference in the grades you might receive? Maybe I’m gun shy, but just trying to alleviate my submission fears. Thanks for your inputs. Happy holidays everyone!
Comments
Nope. I try to save submissions for shows, in order to save a few bucks and not worry about shipping. When I ship, I have had good luck with USPS Registered Mail.
In terms of grading, no. The TPGs have their reputations on the line every time they send out a slab. Human error is always part of the equation, but risking their credibility over a few bucks on a submission fee is just not a thing for any reputable TPG, such as our hosts.
They each bring in tens of millions to over a hundred million dollars a year in grading fees. The difference between a free voucher and an express submission fee doesn't move the needle for them one way or the other. You pay for the service you get, but the grade is the grade no matter long it takes them to get it back to you.
My local postal clerk once asked me what was in a registered mail package that I insured for $8k. I replied “can’t say” and she hasn’t said a word since. It’s none of their business and it’s inappropriate of them to ask, IMO. The USPS takes Registered Mail security extremely seriously—there’s a chain of custody, etc. I do not lose any sleep shipping Registered.
Nothing is as expensive as free money.
What 3rd party insurance is worth using?
ShipAndInsure is who I use. They are very ‘collectibles’ friendly and their rates are very reasonable. The few times I have had any questions or called them they were extremely quick responding and very helpful. I had several here recommend them.
Car parts or machine parts are usually the best answer to the what’s in the box question
I have insured USPS Registered Mail for $50k before…I like to send my coins in PCGS 20 coin plastic slab boxes. Any would be thief’s would have to destroy the shipment to get the contents out. Knock on wood I haven’t had any issues to date. I need to add that no one has ever asked what’s inside.
Good idea! Thanks!
The insurance company says they always say “stamped metal” but your content description sounds better. 😉
I have been using ShipandInsure for many years, love that service. I mostly use FedEx to ship coins around, never any issues with them so far. On the occasion that I do use the PO, and because I use a third party insurer, I seldom have any interaction with the PO clerk other than the standard is it hazardous, liquid, or batteries. On that one occasion the clerk asks I just satisfy their curiosity and tell them it is a 3D printed toy part. As the PO is not providing any insurance what is in the box is mostly irrelevant anyway.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Sent four coins recently to PCGS.
At the post office I identified them as "four round metallic discs",,,,,,,"no insurance required, thank-you" and was on my way.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
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I use the USPS Registered Insured. If the clerk ask whats in the package, I just answer "nothing hazardous" and check that box on the screen. I always have the little Registered mail slip filled out, showing the insurance amount. That way the clerk and I don't have to talk about it.
There is one thing I don't like. The clerk puts a postage paid label on the top right of the box. It shows the total amount paid, insurance and all. I wish that label did not advertise the value of the package.
When mailing rare coins, how many of you guys are very "optimistic" when determining the insured value of your coins?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I print my label with PAYPAL shipping for a small flat rate box. I self-insure with lots of tape around box. I layer the inside of the small box with aluminum foil with my coins, bubble wrap and paperwork inside that.
I imagine a job in receiving at a TPG would be very interesting.
I always love the look I get when I tell them this package MUST remain upright while indicating the UP position is notated on the box.
I have never had anyone at the post office or FedEx ask me what I’m shipping.
I typically send everything FedEx and use ShipandInsure. I think the most coins I’ve ever sent is 15-20. I securely pack my coins in a small FedEx box and then put the small box into a medium sized box. It costs a little more but I think this is the safest and most secure way to ship coins with FedEx.
I would be extremely uncomfortable sending a package of expensive coins via Registered Mail and insuring the coins with the postal service. I don’t want anyone knowing what the value of my package is.
I only use USPS Registered Mail when shipping coins to be graded. It is the slowest, but also the most secure IMHO. I also make sure all coins are returned to my PO Box via registered mail so that nothing is inadvertently delivered and left unsecured while I am away.
I have never had any postal employee ask me what I was shipping other than if it was hazardous, flammable, etc., but if they did I suppose I would tell them that it is really none of their business as long as it is not hazardous, etc. This response might anger them I suppose, but once again that is why I use registered mail. If a registered package goes missing while in their possession, they will have a lot of explaining to do.
Philippians 4:4-7
I usually insure for what I would expect to be able to sell the coins for. Have never had any issues using registered
mail with USPS. Would hate for any submissions to disappear, but if something would happen, I'd only have to
find similar coins to submit.
_ “what is in your box” _
Numismatic related material should be your answer. Most do not know what it is and will not ask.
Never had problems w USPS asking what’s in box sending submissions to o our hosts. Ditto for numerous other shipments. They will ask if it’s hazardous, etc as it’s sop.
I use USPS registered mail on sending submissions to our hosts.
what does aluminum foil do for you?
not sure if anything .... heard a few years ago that USPS (and other shippers) use private contractors for some long haul big truck shipping ... a few would stop for fuel/break and check out their load .... a handheld XRF metal detector looking for gold and silver could be confused by a layer of aluminum foil and the PAYPAL label does not show purchase price (which if very high indicates very high insurance purchased)..
I’ve only been asked a couple times, and I’m always a bit surprised. My shipments are small, so I say ‘electronic components’.
Dave
"MERCHANDISE !!"
It would be nice if PCGS would give you the option of buying a FedEx shipping label from them. Then you could paste it on the box and drop it off with no questions asked, and it would be automatically insured under their shipping contract.
Blocks the NFC/RFID chips from being read, perhaps?
Nothing is as expensive as free money.
I do not have a smart phone that can read the chips .... most of my submissions are raw .... but if someone checks and aluminum foil blocks reading the chips, I might add to my single coin mailings ++
Imagine going into a post office and sending a full-auto, fully transferable M16 machinegun via registered mail. LOL!
My Carson City Morgan Registry Set