RKI - Shipping coins insured - thanks for the great info!

NyKyFyR

I am looking at a boat load of raw Morgans. Seller is having a hard time with shipping the coins insured for some reason. Says that shippers will not insure raw coins (USPS/UPS). This is a new one to me. Any comments/recommendations appreciated.

gsa1fan

USPS will insure package. Priority, registered insured package. I've shipped 500 oz of silver insured this way.

roadrunner

I just shipped a package of silver weighing about 20 lbs in a USPS priority freight mid-size package at $10.70 + reg mail fee of $22.55 for $7K value. I could have shipped up to 70-75 lbs with no additional postage/handling fee. That's a standard size/price. Has to be wrapped like any other REG letter/package. Had the value been $5K or less I could have insured for less than registered but without the same safety. When they asked you what's in there don't tell them silver dollars...it's none of their business as long as it's not toxic, hazardous or cash. And last I checked Morgans were not cash as any fiat bug will tell you.

Tell them you're shipping collectible merchandise or antique auto parts.

roadrunner

TomB

USPS insures raw coins all the time. Declare them as merchandise, product, machined parts or stamped metal.

Ciccio

There was a thread on the USCF few days ago.

Next time your PO tells you coins are not covered

OPA

<< <i>There was a thread on the USCF few days ago.

Next time your PO tells you coins are not covered >>



Thanks...I was looking for that reg.
It appears to me though, that bullion bars or rounds are not covered.

“Fair market value of stamps and coins of philatelic or numismatic value."

piecesofme

There must be a real *rick behind the counter at your P.O.. I've mailed countless coins and PM's and never once have been told anything remotely close to this...unless it is something new that I am not aware of. With all the Govt. changes taking place, I suppose it's possible.

Weg

They ask the basic question "is anything fragile, hazardous, ..." which only requires a yes or no answer. Why whould anyone volunteer information as to just what is being shipped that requires so much insurance, something of high value. I live outside a small town with a small post office where the gals behind the counter know me for shipping a lot of something of high value. Only one time I was asked another question, if I could prove what I was shipping was worth that much if I did have to make a claim. Of course the answer was yes. That time I was sending a note/currency, as to the contents I did volunteer a little info "historical documents". Whatever is being shipped and insured if you felt the need to tell something about the contents I'd make sure it's something boring and not worth taking the chance of losing a job over by someone that aquired sticky fingers by having financial problems.

I like that one, antique auto parts for heavy items.