POSTAL INSURANCE AND THE LOST PR70 WASHINGTON
MoneyLA
Posts: 1,825 ✭
Well, it's been five weeks since I filed the postal insurance claim for the 1964 pr70 Washington that I mailed (insured) to PCGS for review. the coin hasn't been found, and there is no postal insurance payment either. Just wanted to keep you posted. By the way, in case someone offers you a "bargain proof-70 Washington" (translation: hot) the slab number is 7728012. The coin is spotted and I was sending it back to PCGS for validation or a refund under their guarantee service. cheers, alan mendelson
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I know this will never happen, I'm just interested if the USPS could make the above claim and have it stick.
peacockcoins
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As important as it is to not underinsure you also don't want to overinsure.
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Nice to have the money, but I would have rather had the 5 coins... ended up selling off my Franklin set as it was going to be tough to replace the coins.
Bill
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My biggest complaint was that it took SO LONG. I don't feel that most Post Offices have the proper training to assist claimants with the paper work. I can understand waiting 30 days to give the package time to turn up, but beyond that things should progress faster than my experience.
Good luck... Bill
I have a coin as well I want PCGS to verify its grade on, but I paid a lot less from the seller then its current appreciated value. I'm starting to believe PO insurance is a racket.
Cary
Pro Deo Et Patria
but if you buy $100 insurance on a five-dollar coin and the coin is lost, you will not be paid the $100 insurance, but the value of the coin.
there are different ways to substantiate the value including receipts, appraisals, published price guides, etc.
In my case, I provided the print out of the ebay auction, plus the receipt from the seller, plus the postal money order used to pay for the item. If there were a PCGS price valuation from their website I would have submitted that as well (hopefully it would show an even greater value) but there was no listing/values for pr70 washingtons.
cheers, alan mendelson
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Thanks alan!
Pro Deo Et Patria
Check out the slab number...awfully close!
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Have you seen the front page of the current (March 4) edition of 'Coin World'?
Really bad things are in store for us who use the USPS to ship coins - three slabbed coins were ruined by the USPS when they irridated mail suspected of possible anthrax contamination . . . right now there are very few of these machines in service but the USPS has plans to install irradiation devices in about 260 major processing and distribution facilities across the USA (quote from the CW article) . . .