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At what point does a coin become too expensive to ship?

DD Posts: 1,997 ✭✭✭
in U.S. Coin Forum
Just wondering, I'm by no means a big fish in collecting; but I like to take care of what I've got.

At what price point does a coin become too high-value to ship with insurance?

-D
"It is the mark of an educated mind to be able to entertain a thought without accepting it."

-Aristotle

Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.

-Horace

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    RYKRYK Posts: 35,789 ✭✭✭✭✭
    I have not encountered such a coin. FWIW, $25,000 is the max insurance for registered mail.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
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    BAJJERFANBAJJERFAN Posts: 30,994 ✭✭✭✭✭
    Since we can't give them a Government taxpayer escort like the Langbord Saints would get, you'd prolly just use Brinks or Wells Fargo. Or have the new owner figger out how to come and get it. I don't think it could ever be too expensive to ship.
    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    commoncents05commoncents05 Posts: 10,078 ✭✭✭
    I use third party insurance with a max of $100,000. Anything over that, and I'm buying a plane ticket.

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
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    DennisHDennisH Posts: 13,963 ✭✭✭✭✭
    If I'm ever a buyer in that position, I'll try hard to figure out a way to go get it/them.
    edited to add: If I'm ever a seller, I'll probably deliver it/them.
    When in doubt, don't.
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    shorecollshorecoll Posts: 5,445 ✭✭✭✭✭
    Part of USPS advertising is that the Hope diamond was shipped via registered mail, does that mean it was only insured for $25k?
    ANA-LM, NBS, EAC
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    WTCGWTCG Posts: 8,940 ✭✭✭
    Any coin or deal worth $70,000 or over I would consider traveling to personally pick up.
    Follow me on Twitter @wtcgroup
    Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
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    LakesammmanLakesammman Posts: 17,294 ✭✭✭✭✭
    No such thing - just the cost goes up (Insurance, Brinks, etc).
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko.
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    BAJJERFANBAJJERFAN Posts: 30,994 ✭✭✭✭✭


    << <i>Part of USPS advertising is that the Hope diamond was shipped via registered mail, does that mean it was only insured for $25k? >>



    Yes, that is the maximum they will pay. However you must declare FULL VALUE and pay the extra fee/s or you will get zilch in the event of a claim. They will provide extra security.
    theknowitalltroll;
    MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
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    BigMooseBigMoose Posts: 1,466 ✭✭✭
    Well, in my case, I hand delivered my best 1794 large Cents to PCGS at the Baltimore Show in June, after asking Don Willis if I could pick them up graded in person at the Summer ANA Convention in Rosemont in August, which I did. These are mainly six figure coins and I was totally uncomfortable with the prospect of these coins being sent back to me by mail. Too many chances for things to go wrong.
    TomT-1794

    Check out some of my 1794 Large Cents on www.coingallery.org
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    PerryHallPerryHall Posts: 45,444 ✭✭✭✭✭


    << <i>I have not encountered such a coin. FWIW, $25,000 is the max USPS insurance for registered mail. >>



    Fixed it for you.

    Worry is the interest you pay on a debt you may not owe.

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    kiyotekiyote Posts: 5,568 ✭✭✭✭✭
    Mmm, good question. I almost drove three hours to hand-deliver a sealed box of five 25th 2011 eagles , thinking if shipping went wrong it could be a pain. I shipped, all went well.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
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    PQueuePQueue Posts: 901 ✭✭✭
    When you feel uncomfortable.
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    derrybderryb Posts: 36,215 ✭✭✭✭✭
    When it costs more than a round trip plane ticket to its destination.

    Give Me Liberty or Give Me Debt

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    ProofCoinsProofCoins Posts: 42
    when brinks says no....
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    ColonialCoinUnionColonialCoinUnion Posts: 10,087 ✭✭✭
    When it exceeds your ability to insure it.
    Coin Rarities Online
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    derrybderryb Posts: 36,215 ✭✭✭✭✭


    << <i>Part of USPS advertising is that the Hope diamond was shipped via registered mail, does that mean it was only insured for $25k? >>


    Most third party insurers require registered mail be used even if they are insuring for much more than the $25K registered limit. Tulving ships using this method. They prefer the security measures used with registered mail. Registered mail requires a declared value at time of mailing.

    Give Me Liberty or Give Me Debt

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    SaorAlbaSaorAlba Posts: 7,482 ✭✭✭✭✭


    << <i>I have not encountered such a coin. FWIW, $25,000 is the max insurance for registered mail. >>



    Not true. Deep in the gunnels of the DMM(Domestic Mail Manual) they do insure for far more than that. Years ago the Hope Diamond was shipped registered mail and insured. I myself received a significant purchase via registered that was insured for far more than $25k back in the fall of 2005.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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    GreeniejrGreeniejr Posts: 1,321 ✭✭✭
    There is no limit as to what you can insure when you ship with Brinks. When we do a high value shipment >500k we insure it for a few hundred k and privately insure the balance with Hugh Wood who does our insurance. A couple years back we shipped the entire Gemini auction 4 million+ we used brinks and just paid the premium to insure privately.
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    PerryHallPerryHall Posts: 45,444 ✭✭✭✭✭


    << <i>There is no limit as to what you can insure when you ship with Brinks. When we do a high value shipment >500k we insure it for a few hundred k and privately insure the balance with Hugh Wood who does our insurance. A couple years back we shipped the entire Gemini auction 4 million+ we used brinks and just paid the premium to insure privately. >>



    Greenie---Do you give Brinks an inventory with a value for each coin and they inspect the shipment to make sure the inventory is accurate? I'm curious what happens if a few of the coins in a large collection are pilfered by one of the shipping employees.

    Worry is the interest you pay on a debt you may not owe.

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    ambro51ambro51 Posts: 13,609 ✭✭✭✭✭
    when it costs more than a ship.

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