Any Update with the PCGS LOST MY COINS Thread ??

Sandhawk

I was looking for it, but haven't been able to find it.......................

Sandhawk

Sorry - to be more specific - the one where the member submitted the coins at a show (santa clara, I believe) and PCGS used Express mail instead of registered mail and the box was lost..................

anyone help me find the thread???

coinguy1

Here you go: link

tmot99

Thanks, Mark. I have been told that PCGS is waiting for the payoff from their insurance company and I will get paid the value I put on the submission form. PCGS was negligent in the way they shipped the coins, using Express Mail over Registered Mail. PCGS and others have said that they have never lost an Express Mail package but Registered packages have been lost, so they went for Express. Unfortunately, there is no step by step tracking and therefore the last USPS saw of them was its departure from San Jose.

coinguy1

<< <i>PCGS was negligent in the way they shipped the coins, using Express Mail over Registered Mail >>

Sorry, but I feel that is an unfair characterization and an unfounded legal conclusion. To balance things out, however, I don't think you should have to wait to be paid until PCGS gets reimbursed from their insurance carrier.

tmot99

Actually, every time we submit coins to PCGS, we trust them with the security of our valuables. If they take measures that breach that security, then that is negligent behavior.

coinguy1

<< <i>Actually, every time we submit coins to PCGS, we trust them with the security of our valuables. If they take measures that breach that security, then that is negligent behavior. >>

The % of times that an Express Mail package gets lost or stolen is so small/negligible, that using that shipping method is not "negligent". Even registered mail packages are not immune from those problems/risks.

bushmaster8

Tmot, actually, you probably made out better than if the package had been registered:

If it was registered mail that was lost, you would be insured by the USPS, and USPS does NOT use the values you put on the submission form as a way to evaluate your loss. You would have to somehow substantiate the value, ie. provide a receipt, invoice, etc.

Only because PCGS's insurance is covering the loss, will you get the amount you stated on the submission form.

tmot99

Just an update. I called to find out when my check would be cut. Steve Mayer told me that he would cut it tomorrow.