Best way to ship bullion?
kiyote
Posts: 5,573 ✭✭✭✭✭
I shipped out 3 ounces of silver UPS ground from CA to the east coast and it cost me $16! With margins so thin on bullion there's gotta be a better way to ship the stuff. How do you guys do it? I'm not going to ask the seller to pay $16 for shipping, that's crazy.
"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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USPS small flat rate box for >13 oz
Both with Delivery or Signature Confirmation with insurance. Anything above $500 insurance has to be signed for anyway. You get a small price break if you create and account on the USPS website and print labels there.
If sending over $7-800 worth of stuff, Registered Priority in a flat rate box is the way to go.
Too many positive BST transactions with too many members to list.
<< <i>USPS first class for 13 oz or less
USPS small flat rate box for >13 oz
Both with Delivery or Signature Confirmation with insurance. Anything above $500 insurance has to be signed for anyway. You get a small price break if you create and account on the USPS website and print labels there.
If sending over $7-800 worth of stuff, Registered Priority in a flat rate box is the way to go. >>
What guitarwes said.
Plus, I found convenient to ship Express over $900 give or take.
Overnight delivery leaves little room to troubles (that's what the Usps thinks as well, in fact the insurance is pretty cheap).
OPA, there are lots of threads in the US Coin Forum about this but I haven't found yet a definitive answer.
Are you positive about it?
<< <i>It's a waste of your $$$ to insure bullion when mailing it via UPS, USPS or FEDEX. You're not covered. >>
Bold statement??? Please clarify or explain? AMPEX tells you how to ship bullion = priority package registered insured.
<< <i>
<< <i>It's a waste of your $$$ to insure bullion when mailing it via UPS, USPS or FEDEX. You're not covered. >>
Bold statement??? Please clarify or explain? AMPEX tells you how to ship bullion = priority package registered insured. >>
First of all, no one can tell you how to ship your bullion, after all, if it does not arrive at the prescribed destination, it's you who will take the hit & not APMEX. BTW APMEX is mailing out most of their bullion via Priority Mail with Signature Confirmation, but not via Insured Registered Mail.
I should have qualified the USPS comments to: unless you mail it out registered insured mail you are wasting your $$$
Per USPS website:
Limit on money (cash) insurable through the mail
Money (currency / cash) that is sent through the mail can be insured with the following limits:
Except for Registered Mail, the maximum indemnity for negotiable items (defined as instruments that can be converted to cash without resort to forgery), currency, or bullion, is $15.00
For Registered Mail™ , cash can be insured up to $25,000. For amounts over $25,000, the full value must be declared but the maximum insured value is $25,000.
<< <i>
<< <i>
<< <i>It's a waste of your $$$ to insure bullion when mailing it via UPS, USPS or FEDEX. You're not covered. >>
Bold statement??? Please clarify or explain? AMPEX tells you how to ship bullion = priority package registered insured. >>
First of all, no one can tell you how to ship your bullion, after all, if it does not arrive at the prescribed destination, it's you who will take the hit & not APMEX. BTW APMEX is mailing out most of their bullion via Priority Mail with Signature Confirmation, but not via Insured Registered Mail.
I should have qualified the USPS comments to: unless you mail it out registered insured mail you are wasting your $$$
Per USPS website:
Limit on money (cash) insurable through the mail
Money (currency / cash) that is sent through the mail can be insured with the following limits:
Except for Registered Mail, the maximum indemnity for negotiable items (defined as instruments that can be converted to cash without resort to forgery), currency, or bullion, is $15.00
For Registered Mail™ , cash can be insured up to $25,000. For amounts over $25,000, the full value must be declared but the maximum insured value is $25,000. >>
The last two, maybe three shipments I have received from APMEX came via FedEx
This does not apply to collector coins/bullion etc: (g. Fair market value of stamps and coins of philatelic or numismatic value, as determined by a recognized stamp or coin dealer).
So, bullion is bullion? All my bullion sells at a premium and would therefore be of Numismatic value.
bob
Read 4.1 (g) and 4.2 (c). Here
For registered insured mail it appears that an insurance claim for all bullion will be paid at market value and insurance up to $25K is available:
Registered Mail
For non-registered mail it appears that if the bullion has numismatic value (American Eagles/Maples, etc.?) an insurance claim will be paid at market value up to the $5K insurance limit. If bullion is non-numismatic the claim is limited to $15.00:
From the USPS Domestic Mail Manual:
4.1 Payable Claim
Insurance for loss or damage to insured, registered, or COD mail within the amount covered by the fee paid or within the indemnity limits for Express Mail as explained in 4.2 is payable for the following:
a. Actual value of lost articles at the time and place of mailing (see 4.1n. for bulk insured articles).
b. Cost of repairing a damaged article or replacing a totally damaged article not exceeding actual value of the article at the time of mailing.
c. Remittance due on a COD parcel not received by the sender, subject to the limitations set by the standards for COD service.
d. Reasonable costs incurred duplicating documents such as:
1. Copying service.
2. Notary fees.
3. Bonding fees for replacement of stock or bond certificates.
4. Reasonable attorney’s fees if required to replace the lost or damaged documents.
5. Other direct and necessary expense or cost, as determined by the USPS.
6. Face value of negotiable documents that cannot be reconstructed up to the amount of insurance coverage bought, but not to exceed the $25,000 maximum amount of insurance coverage available if sent by Registered Mail.
e. Extra cost of gift wrapping, if the gift-wrapped article was enclosed in another container when mailed.
f. Cost of outer container, if designed and constructed for the article sent.
g. Fair market value of stamps and coins of philatelic or numismatic value, as determined by a recognized stamp or coin dealer or current coin and stamp collectors newsletters and trade papers.
h. Federal, state, or city sales tax paid on articles lost or totally damaged.
i. Postage (not fee) paid for sending damaged articles for repair. (The USPS must be used for this purpose. Other reasonable transportation charges may be included if the USPS is not available.)
j. Cost of film stock or blank tape for photographic film, negatives, slides, transparencies, videotapes, laser disks, x-rays, magnetic resonance imaging (MRI) prints, computerized axial tomography (CAT) scan prints, etc.
k. Cost of bees, crickets, or baby poultry destroyed by physical damage to the package or delay for which the USPS is responsible. (In the absence of definite evidence showing responsibility for death of these insects or animals, the USPS is presumed to be at fault if 10% or more are dead on delivery, and pays indemnity for all dead bees, crickets, or poultry; if less than 10%, the USPS is not presumed to be at fault.)
l. Cost of filing a lost ticket report with the airline.
m. Per page copying cost of lost or damaged blueprints, schematics, etc.
n. For bulk insured articles, indemnity is provided for the lesser of (1) the actual value of the article at the time of mailing or (2) the wholesale cost of the contents to the sender.
o. Except for Registered Mail, the maximum indemnity for negotiable items (defined as instruments that can be converted to cash without resort to forgery), currency, or bullion, is $15.00.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
In Italy is every coin (made of PM) minted after 1800 whose market value is up too melt+80%. (or something similar)
<< <i>So, is there a definition by law of bullion?
In Italy is every coin (made of PM) minted after 1800 whose market value is up too melt+80%. (or something similar) >>
It can easily be shown that bullion coins such as American Eagles have numismatic value, especially since they show up in numismatic price guides. Gold/silver jewelry isn't considered "bullion" for USPS insurance purposes.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey