Question for anyone that shippin lost raw coins shipped for submission(regardless of who)
jesbroken
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If sending raw coins to PCGS, NGC, GC, ANACS or ICG to name a few and they are lost or stolen with insured shipping, how do you prove value to the insurer? I'm curious as I have luckily never lost a package, but know that some have and if raw what method or proof can a sender provide that would be acceptable for raw coins. I assume that recent sales of like raw items might be a method, but no two coins are truly alike that I would imagine an insurer would be willing to accept. Just curious.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
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The coin is worth what you paid. Have a receipt or a screenshot of ebay as proof of payment.
I keep pictures and purchase receipts for anything I send. If it was a "found" item going through piles of raw you could get a grade estimate from the pictures from many helpful dealers or others with sufficient expertise that the carrier would recognize.
So, if I find a mint state 1955 DDO cent while coin roll hunting, I can't insure it since I don't have a receipt for it?
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
Make an eBay listing for a good amount, put in your cart....Take a screenshot showing it SOLD.
If you saw it on the Internet, It Must Be True
So regardless of what a coin is worth today, an insurance company would pay you what you paid originally? If so, great. I have never found an insurance company to be generous in any form whatsoever.
Let's change the story line, somewhat. You have coins from 20-30 years ago that you decided to have graded. No receipt, has anyone everhad or heard of this instance occurring and exactly what the insurance actually allowed as value evidence?
I have no receipts before 2004 when I started selling/buying on ebay, yet I have hundreds of coins purchased before that with no evidence.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
You can, but it becomes harder to prove value.
This
This is a topic that's been discussed in dozens of threads here over the years. It has been stated by many who have experienced a loss that the USPS will accept a recently published price guide such as a Red Book or a grey sheet showing the value. The problem is some post offices will require more proof of value than other post offices.
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
Yes, except that works better for slabbed vs raw. Grade as well as authenticity matter. If your provenance is "found in coin roll", expect an argument with postal investigators.
Can I use a Littleton catalog price, for example?
🤑
But seriously, it can be a real problem. I sent off some rare Daniel Carr items where I own all examples in existence (minus two that I sent to a friend). My cost is about $2 per coin maximum, but they would possibly sell for as much as $100 each. Since there are no sales records I just insured the box for $200, which was still probably too much.