Coins and Fedex?

Barry · July 23, 2003 6:08AM

What's the real story with coins and Fedex?

Fedex lists coins and stamps in their prohibited items list. I know lots of guys use Fedex anyway. What about insurance? If you ship Fedex do you use an outside insurance company? Do you still list the full value on the Fedex form?

Russ · July 23, 2003 6:11AM

Many who ship FedEx are not aware that coins aren't covered in the case of loss. Most dealers who use them, though, have outside private insurance.

Russ, NCNE

coinguy1 · July 23, 2003 6:12AM

Barry, I think Russ nailed it on both counts.

FinallyHere · July 23, 2003 6:15AM

Barry,

In most cases for dealers that use Fed-X, such as myself, have outside insurance coverage for both Fed-X and Express Mail. I do NOT disclose the value anywhere at anytime on the fed-x forms as there is no need to do so and would in all likelihood just draw attention to the package.

Hope that helps. And....as a side note....Russ is correct in that many people use Fed-X lacking the understanding their packages are not covered.

Mike Printz

jbsteven · July 23, 2003 6:36AM

I can say I would trust Fedex 100% more than the post office and would use them if people would accept the delivery of their coins by them.

In my other business we ship out 10-15 overnight letter envelopes (with passports and visas in them) every day and in 10 years I have never had a package lost. I can count on one hand the amount of packages that were delivered in 2 days when it should have been next day.

I like the tracking of Fedex and that they pickup daily from my office.

I wish they were just a little cheaper and could somehow deliver to PO boxes because I would onlu use them.

redcents · July 23, 2003 6:37AM

After shipping literally tens of thousands of high value (not coins) packages with FedEx I can honestly say I know more about their inner workings than anyone else I know - REALLY don't mean to brag. Feel free to call me with any questions.

nalamolly5 · July 23, 2003 6:44AM

as a fedex employee, i would tell you to please have your own insurance, for coins are on the prohibited list. i am proud of our service level, but even then some packages do not reach their destination. there is a building in memphis larger than a football field where packages that have become seperated from their paperwork go. i would like to have your coins end up there either.

paigowjohnny · July 23, 2003 6:51AM

As a buyer only so far, I HATE FedEx and UPS because nobody is home during the day to take delivery, and I have to jump thru my grommet to either work a suitable delivery or go pick the package up.

Barry · July 23, 2003 6:55AM

Thanks for all the replies.
I am returning the 1799 gold Eagle that I posted pics of yesterday. The dealer would like it back ASAP, for Baltimore, and asked I Fedex it. That's why I asked the question. I don't have outside insurance available in such short notice. I told him I want to send it Registered, but he probably wouldn't get it in time (PA to CA) as he's leaving this weekend. He's going to give me a Balto address to ship Registered, and that should solve the problem.

BTW, if any of you guys want to see the coin in person, it's going to Barry Stuppler. I'd be interested in hearing any comments you may have after seeing it live. It's a 1799 Gold Eagle in an NGC 58 holder.

coinguy1 · July 23, 2003 6:58AM

<< <i>I can say I would trust Fedex 100% more than the post office and would use them if people would accept the delivery of their coins by them >>

Sorry, JBSteven, I must disagree. While I very much like the convenience and efficiency of Fedex (and we frequently use their services), I believe that registered/insured mail is safer and has fewer thefts, percentage-wise.

BAJJERFAN · July 23, 2003 7:02AM

Do the same comments about FEDEX also apply the all service levels (ground, air, dogsled) from UPS insurancewise? I have been told that UPS does not insure (or at least pay out on claims for loss) coins either.

jbsteven · July 23, 2003 7:05AM

<< <i>I believe that registered/insured mail is safer and has fewer thefts, percentage-wise. >>

Mark

it might be true with your experiences but with 10,000-12,000 packages I have sent through Fedex I have had not one lost (none of these had coins in them though)or damaged. I have had 3 packages in the last year completely ripped off through the insured mail service. Each one of these pakages were insured and NOT ONE CLAIM HAS BEEN PAID BY THE POST OFFICE TO ME OR MY BUYERS.

Personally I think the mail service has alot to be desired. I believe the mail service should be run by a private service like FEDEX.

coinguy1 · July 23, 2003 7:11AM

JB, it sounds like you've been lucky with Fedex - don't push that luck by shipping coins.

It also sounds like you've been unlucky with the USPS - keep after them on those claims. I have heard that they are often slow in paying, but, that as long as the paperwork is filled out properly and you provide the required information, you should be reimbursed. That has also been my (very limited) experience with them. Good luck to you on that.

FinallyHere · July 23, 2003 7:12AM

I'll disagree with Mark on this one as well as we ship a great deal of packages via Fed-X and via USPS and have had more problems with USPS than we have ever had with Fed-X. I'm now a beta tester for some new software that Fed-X will unveil to the masses shortly and this is exactly the kind of company and customer oriented organization USPS will never be or hope to be unless the USPS were privatized.....which will never happen. However, Mark's experiences with Fed-X may be such that internally they see things differently and I can only speak to my experiences over the last 15 years.

Mike Printz

FrattLaw · July 23, 2003 7:18AM

While I have very limited experience as to shipping with any of the services, I'll share some info I have as to USPS Registered Mail.

I was told that Registered Mail is treated the same as cash. Meaning that all shipments are made by via armoured car with fully armed guards. It would be the same as hiring Brinks to ship your coins. Each bundle of packages are locked in a tamper proof carrier and it would take a heist to steal your package. Everything is checked, rechecked and checked a 3rd time.

Michael

coinguy1 · July 23, 2003 7:22AM

Mike, might I suggest that you do away with your special, promotional labels which you affix to all of your USPS packages? - you know, the ones you, yourself designed, which read "VERY, BEAUTIFUL, RARE AND VALUABLE COINS INSIDE".

See you in Baltimore.

MrEureka · July 23, 2003 7:26AM

JB - Insured Mail is not as safe as Registered Mail. It does not surprise me that you have lost a few Insured Mail packages.

Also, with respect to your comment that the mail service should be run by a private service like FEDEX.

I agree wholeheartedly.

jdimmick · July 23, 2003 7:38AM

I hate fed ex,

Fedex left a 900.00 coin on my front porch for two days once, never used them since for coins. Now documents on the other hand , great service.

BAJJERFAN · July 23, 2003 8:04AM

"I was told that Registered Mail is treated the same as cash. Meaning that all shipments are made by via armoured car with fully armed guards. It would be the same as hiring Brinks to ship your coins. Each bundle of packages are locked in a tamper proof carrier and it would take a heist to steal your package. Everything is checked, rechecked and checked a 3rd time."

The degree of security given to registered mail is I believe somewhat related to the item's insured value. If you send a $200,000 plus ms65 1893-S Morgan via registered mail it will likely be followed by armed guards in an unmarked car. The surcharge per $1000 for items over $25,000 is to defray the costs of the extra security. Failure to pay this surcharge will result in a denial of liability on the part of the USPS should a claim be filed. Their defense will be "had we known the true value we would have handled it differently." AND YOU WILL BE SOL.

Russ · July 23, 2003 8:06AM

I guess everybody has different experiences. In over 13 years in business, I've shipped thousands and thousands of packages through the post office and I've had a grand total of one lost. The post office paid the insurance claim without argument (took forever to get the check, though).

Russ, NCNE

Cockney · July 23, 2003 8:31AM

Fed Ex was once kind enougth to leave a three cent piece I had bought from Heritage, for over six grand, under the map outside the front door..Dont ask me how tempted I was to "Not Find It" Very..

dldallen · July 23, 2003 11:17AM

For us "small fry" that want to use FedEx or UPS AND insure it, I just came across this Universal Parcel Insurance Coverage site today. If any of you have any feedback on them, I for one would appreciate it. Thanks, Dave

airplanenut · July 23, 2003 12:50PM

<< <i>For us "small fry" that want to use FedEx or UPS AND insure it, I just came across this Universal Parcel Insurance Coverage site today. If any of you have any feedback on them, I for one would appreciate it. Thanks, Dave >>

They took my money well

Used them twice, but never needed a claim.

Jeremy

boz · July 23, 2003 1:01PM

I had a coin shipped to me via Fedex, two day delivery. Never showed up. All I got was a big run-around from them. Same for the shipper. Try to get ahold of your local office by phone. It can't be done. You get some matter of fact employee on a line in who knows where. Will never use them. Luckily the shipper had his own insurance.

wayneherndon · July 23, 2003 1:09PM

I have used UPIC for several years now and can recommend them highly. They are very cost effective and pay claims quickly without hassle. Also, very little paperwork upfront (when the package is shipped) which is nice. If you sign up, ask for Jill and mention my name. She will take care of you.

WH

Robgetty · July 23, 2003 1:45PM

Never realized that FedEx didn't insure coins; I sent a 1872-S quarter to
PCGS last month via FedEx on walkthrough service. The local FedEx office
had no problem in charging me for the insurance. (Oh well; no harm, no foul)

airplanenut · July 23, 2003 1:48PM

<< <i>Never realized that FedEx didn't insure coins; I sent a 1872-S quarter to
PCGS last month via FedEx on walkthrough service. The local FedEx office
had no problem in charging me for the insurance. (Oh well; no harm, no foul) >>

It's a don't ask, don't tell... they only ask when you want your money... they're happy to take theirs...

mdwoods · July 23, 2003 1:51PM

USPS Registered, insured is the only safe way to go.

291fifth · July 23, 2003 7:39PM

I find the loss rate at USPS to be very low. In the past three years I have only had one package that I mailed arrive without its contents, and that did not involve coins. I have yet to have a package fail to reach me. My main beef with the USPS is their insurance charges. I believe these fall within the unregulated portion of their pricing structure and they appear to be milking the public. I now self-insure most of the lower value packages I send and receive.

Coins and Fedex?

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