Insuring coins via USPS issue

Pandavab

I recently found out that the USPS does not actually insure coins. My question is I see people offering insurance on shipping coins all the time -- is there some way to actually have them insured by the USPS? Is there a "loophole" so to speak for TPG coins? Is there something else I don't understand? Or was the person I talked to at the USPS help number wrong? I figured someone here must have some idea of how/if this is possible.

Thanks for any help.

dthigpen

Just claim the items as collectables, not currency.

Smittys

I've collected claims on coins lost before, don't refer to them as money.
Smitty

morgannut2

Rare collectables after 1904, rare antiques before 1905. I always Xerox them if in a TPG holder, to verify they're not just money.

nwcs

USPS does insure coins. FedEx and UPS don't. Here's the USPS official link of what's ineligible. Link

ScarsdaleCoin

you can get private insurance company which will cover ups and fed ex someone may charge insurance and use a private insurance company...for example Lloyds of London offers this.....

otherwise you may be denied if you are using ups insurance for numismatic items...

the specific UPS policy which I have posted past and will include again is quite interesting...here it is....

The excess value insurance does not cover of insure against:
(a) articles of unusual value, which include (but are not limited to):
(1) coins (except pennies and nickels, and except proof and mint sets of United States coins tendered by United States mints of a fae value not to exceed $ 2.41), currency, postage stamps, negotiable instruments, money orders, unset precious stones and industrial diamons,; (2) any article which that contains more than fifty percent by weight of gold, silver, or platinum or any comination thereof in raw form, bullion, balls, bars, grains, strip, sheet, wire, chain, ingots and the ccrap of these metals; and (3) any package having an actual value of more than $50,000

guess what it means is that my 36 lb bags of wheats are covered....

mercurynut

I always mark mine as silver collectable or copper collectable ect.

morgannut2

I'm TOTALLY confused now!!! I thought that the U.S. Post Office was the insurer of all Registered Mail, that coverage was up to $25,000, and that the Post Office, instead of a subcontacter, handed all these registered packages. There are cautions against fragile stuff, etc. etc., but not against collectable coins from talking to my mailguy here. What am I missing???

paigowjohnny

refer to them as "numismatic items"

Pandavab

Thanks for the help and advice all.

airplanenut

<< <i>I'm TOTALLY confused now!!! I thought that the U.S. Post Office was the insurer of all Registered Mail, that coverage was up to $25,000, and that the Post Office, instead of a subcontacter, handed all these registered packages. There are cautions against fragile stuff, etc. etc., but not against collectable coins from talking to my mailguy here. What am I missing??? >>

The USPS insures Registered Mail, and anything with postal insurance. All Registered Mail is handled soley by USPS employees, and is signed by everyone who touches it.

USPS will insure coins with any shipping method (domestic, at least) as collectables. No other carrier, to my knowledge, will insure coins in any way and will need a private insurance carrier for the insurance.

Jeremy

morgannut2

Thanks Jeremy--I just sent off an AU 1889CC $1 and it hadn't shown up yet. That was major temporary panic re: Registered Insuance for me. ---- Bill

ldhair

I use the term merchandise if ask by the clerk.