do you think having coins slabbed has any benefits for insurance purposes?

tahoe98

........anyone able to elaborate?

golfer72

I would think so. If nothing else the coins value can at least be ballparked from the PCGS price guides. Raw coins are a whole different ballgame

Barbercoin

I'm no expert, but just like having a picture you have proof of the insured item condition. Only in this case, it is a expert (TPG) opinion on file. Assuming of course, you have the extra premium to pay for coins kept at the residence.

I'm not sure about specific coin riders on insurance policies that dealers and BM owners may have.

MikeInFL

That all depends on what type of insurance policy you have, but my sense is it can't hurt (unless you overpaid for the coins and have a replacement-type policy).

tahoe98

......i guess i was just wondering how it would go down, if you made a claim and discussed the worth with the agent. i imagine one would (or should) be armed with auction prices realized for a particular grade of a coin slabbed. having this would, perhaps, convince the insurance company (one would hope) of a realistic replacement cost for the claim. photographs of the slabs may also help and receipts, if still in possession for a claim. yes?

yellowkid

Of course it would help, if you are claiming twice as much for a piece because it crossed the sometimes fine line between au and ms you better have some documentation and what could be better. This assumes, of course, that your coins are covered by your policy.

BillJones

I can’t see why it won’t. Having reputable grading service like NGC or PCGS grade your coins would put a benchmark on the market value. That certainly should make it easier to file a claim.

morganbarber

I think it helps to establish value, and, if you are in a registry set, it shows inventory and ownership.

dizzyfoxx

Absolutely. Slabbed coins at least have a universally accepted and documented value range. Raw coins can be anyone's guess.

Elcontador

Can't hurt. If you're real anal about this stuff, keep the purchase slip, slab the coins, photgraph them, and have the cert #s written on said purchase paperwork. Documentation is always a good thing.

JMW

The more detailed records you have the better off you will be. Dates purchased, receipts, grade, seller, and a image, all help document the value. Sure TPG certification is good, but multiple documents supporting your purchase and the price paid are better. Ask your insurance provider what documentation they require to support the value of the coins.

I bought my insurance through the ANA, the underwriter Hugh Wood also insures collectible automobiles for various clubs, so they understand how carried away some of us can get.

telephoto1

If you want to insure a collection, raw or slabbed makes little to no difference to many insurers. Most insurance companies prefer, at a minimum, an itemized up-to-date appraisal of current value from an expert in the field on an annual basis, and preferably with documentation of purchase prices and images of the items if possible... and they want it on record before the fact, not after, so if the market goes up then it behooves you to update your appraised values. Also, be sure your policy specifically covers and mentions COINS, not just COLLECTIBLES, because coins are NOT considered collectibles in your average homeowner's policy and require a separate rider (I found this was the case with my policy!) Otherwise the coins will get treated as cash and you'll get only face value for them whether they are slabbed or not.

This info comes from my agent.

Edit for typo.

tahoe98

.......at the risk of sounding anal, what's wrong with getting the worth of what you insured? we all know that insurance companies (some anyway) like to try and pay out minimum amounts on a claim. i guess it is wise to protect yourself as best as you can.