How do you handle shipping a $20,000 coin?

earlwbollinger

I was curious about this and got to thinking about this (which is usually a mistake for me).

In this case for example, someone put up on Ebay a nice PCGS coin with the opening bid at $18,600 and no reserve or BIN.
The seller accepts Paypal besides other means of payment.
If a buyer wins this nice coin and pays for it OK, how would the seller ship the coin to the buyer?
I don't think USPS Priority would let you mail it insured for that amount.
Would Fed Ex or UPS do it, or does the seller need to find a way to have it hand carried and delivered?
What do you all do?
Thanks

RYK

Registered mail.

jbsteven

registered can be insured up to 25k

RKKay

USPS Registered can be insured for up to $25k.

kieferscoins

USPS Registered mail.

Cameron Kiefer

KenzoT

Registered mail with insurance.
Regular mail + $25,000 insurance = $250+
Registered mail + $25,000 insurance = $32 or so.

phut

USPS
I sent a coin, registered and insured for $10K, in april for @ $18.

ziggy29

Yep. What they all said. Generally, registered mail is the way to go for any item worth about $1,000 or more.

Baley

So registered is ok up to $25k. How does one mail a coin or group of coins worth in excess of $50,000? $100,000?

coynclecter

So tell me . How does they buyer know he won't open it and get a block of wood.

If I bought any coin for that much I would get on a plane to get it. My biggest ebay purchase was 3300 and I let the seller know I would be opening the package in front of the postal agent so he coukld verify if I got stiffed. Anything above 5000 is a sure plane trip for me.

The exception of course if you have dealt with the seller before or if they are a "big" time dealer.

I would never mail coins over $100,000. I'd look for a bonded courier.

GoYankees

Very carefully!!!

earlwbollinger

Thanks all for the answers, I would have not thought of that.
I'll just crawl back under my rock now.

stujoe

Just slap it in a regular envelope and stick a stamp on it. That way people don't complain that your shipping charge is too high.

Tootawl

A Brinks truck comes to mind.

Conder101

<< <i>So registered is ok up to $25k. How does one mail a coin or group of coins worth in excess of $50,000? $100,000? >>


If it is a group of coins you break it down into several packages each of less than $25,000. If it is one coin or there are coins in the group worth over 25K then you do registered for 25K and select a private insurer to carry the balance. So for a 35K coin USPS insures it for 25K and private insurer carries the 10K the USPS doesn't protect. The insurers know that Registered mail is VERY safe so the rates should be low.

KenzoT

Just returned from the post office where I asked what the insurance limit is for registered mail.......

$15,000,000

Russ

<< <i>Just returned from the post office where I asked what the insurance limit is for registered mail.......

$15,000,000 >>



15 million dollars? Cool.

Russ, NCNE

mgoodm3

Regarding registered mail:

"Postal insurance is provided for articles with a maximum declared value up to $25,000. Handling charges apply for articles valued over $25,000. "

This is off of the USPS website.

RYK

Just returned from the post office where I asked what the insurance limit is for registered mail.......

I have been given wrong information more than once by an agent at the post office.

BAJJERFAN

<< <i>So registered is ok up to $25k. How does one mail a coin or group of coins worth in excess of $50,000? $100,000? >>



Well you could cut a $50 K coin in half and send as 2 packages!! Insurance limit for registered is $25 K. Anything over that and you pay a fee per $1000. The purpose of this fee is to pay for extra security. They will follow your shipment to its last destination in an unmarked car if they feel that its necessary. If you waive the fee and your package gets lost you will be SOL. Your entire claim will be denied on the basis that had they known the TRUE value they would have handled it differently.

bullseye

If its a dealer, no problem. Most have special insurance up to $100,000.00 per package (I believe).


Mike

dorkkarl

i've never shipped a single coin worth that much (never had 1), but i once shipped off $70K worth of coins in 3 separate registered packages.

K S

ColonialCoinUnion

<< <i>Regarding registered mail:

"Postal insurance is provided for articles with a maximum declared value up to $25,000. Handling charges apply for articles valued over $25,000. "

This is off of the USPS website. >>



The insurance max used to be 25K for registered mail, now its higher. Not sure what the upper limit is, but they will accept 50K.

Conder101

They will accept PAYMENT for 50K, but if it gets lost they will pay you 25K. The extra money they took for the other 25K is that " Handling charges apply for articles valued over $25,000. " It paid for the "extra security", it is not insurance. The MAXIMUM the post office will pay out on a lost Registered package is 25K, you can declare and pay for any amount you want.

ScarsdaleCoin

Registered mail is considered equal to armored car.....it is very safe...very low loss stats

ddink

I'm shocked that the seller accepts PayPal. He will have to pay a fee equal to 2.9% of the amount of money sent, or $540.

Cameonut

Registered Mail is probably the best up to $25k.
If over that, I would ask Fedex. I used to ship $100k of industrial Platinum and Rhodium solutions using them. They did a marvelous job.

BAJJERFAN

FEDEX will not insure collectible coins. They will probably accept them for shipment but at YOUR risk.

bestbino

If someone ever paid me $100,000 for a coin, I would be on the next plane out of Boston. The pesonal drop off would just be a stop off on my vacation trip.
Although I would charge the buyer $4.95 for shipping and Handling.

khayse

> If someone ever paid me $100,000 for a coin, I would be on the next plane out of Boston. The pesonal drop off would just be a
> stop off on my vacation trip.

If I ever bought a coin that expensive I would fly there and carry it myself.

-Khayse

MacCoin

pony express

HTubbs

I'd charge the buyer the costs for a round trip ticket via first class!

pursuitofliberty

Anyone sending a coin over 25.K needs to read what condor said again ... you can select any value for registered/insured (up to 15.M) but if it get's lost, the max they will pay is 25.K ... this is well documented, and if you ask the question correctly and of the right person at the Post Office, I am sure you will get the same answer.

Lakesammman

I call my favorite dealer and ask if I can use his insured corporate account with the USPS, then am sure to reimburse him promptly.