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Paypal shipping no longer insuring coins?
Bayard1908
Posts: 3,981 ✭✭✭✭
The Paypal shipping interface has undergone some major changes since I used it last. The insurance limit has been raised from $500 to $1000; however, it appears that coins are no longer insurable.
The following language is quoted from the terms of coverage.
"II. THE INSURANCE DOES NOT INSURE:
A. Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents."
I have used Paypal shipping for the last year or so. I used it instead of eBay shipping because I was told on this forum that eBay shipping did not insure coins. It not appears that the eBay policy has now been adopted by Paypal.
The following language is quoted from the terms of coverage.
"II. THE INSURANCE DOES NOT INSURE:
A. Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents."
I have used Paypal shipping for the last year or so. I used it instead of eBay shipping because I was told on this forum that eBay shipping did not insure coins. It not appears that the eBay policy has now been adopted by Paypal.
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As for the insurance, Regardless of what their page says, the packages are insured through the USPS which clearly states that collectible coins are in fact insurable.
Why those boneheads would put such a thing on their newly "revamped" (and worthless) shipping page can only be explained by the fact that they have NOT reviewed US Postal Rgulation before implementing such "statement".
The name is LEE!
<< <i>the packages are insured through the USPS which clearly states that collectible coins are in fact insurable. >>
Bingo.
-Paul
<< <i>Regardless of what their page says, the packages are insured through the USPS which clearly states that collectible coins are in fact insurable. >>
I wish it were that simple; however, it is not. They are using third party insurance, not USPS insurance. The following is quoted from Paypal.
"PARCEL INSURANCE TERMS OF COVERAGE
INSURING COMPANY: THE AMERICAN INSURANCE COMPANY, Cincinnati, Ohio
The following outlines your agreement with Parcel Insurance Plan ("PIP") who is acting as our agent, and The American Insurance Company, a subsidiary of Fireman's Fund Insurance Company ("Insurer"), relating to your purchase of parcel insurance (the "Parcel Insurance") from PIP and underwritten by Insurer."
<< <i>This is USPS lingo which means coins as cash (face value), like currency (cash) is not insurable. Collectible coins and currency always have been insurable by the PO and still are. There has been no change. >>
Paypal is using third party insurance, not USPS insurance.
This was on the eBay site as of yesterday when I shipped my last item.
Ship Saver has been available from eBay for a couple of years IIRC.
<< <i>
<< <i>Regardless of what their page says, the packages are insured through the USPS which clearly states that collectible coins are in fact insurable. >>
I wish it were that simple; however, it is not. They are using third party insurance, not USPS insurance. The following is quoted from Paypal.
"PARCEL INSURANCE TERMS OF COVERAGE
INSURING COMPANY: THE AMERICAN INSURANCE COMPANY, Cincinnati, Ohio
The following outlines your agreement with Parcel Insurance Plan ("PIP") who is acting as our agent, and The American Insurance Company, a subsidiary of Fireman's Fund Insurance Company ("Insurer"), relating to your purchase of parcel insurance (the "Parcel Insurance") from PIP and underwritten by Insurer." >>
Ah HAH!
I knew they'd figure out a way of getting yet MORE MONEY from eBay sales. Clearly, eBay is now getting a piece of the action and having implemented this particular program is nothing more than disrespective and a slap in the face of all their coin sellers.
The name is LEE!
this may or may not help with additional info
.
"Payment Sent (Unique Transaction ID # 3MY371624C954415M)
Business Name:
US Postal Service (The recipient of this payment is Verified)."
USPS insured this shipment under their rules and any subsequent claim would be filled directly with USPS. If ebay is getting a cut doing it their way, look for paypal (owned by Ebay) to eventually do the same. Just out of curiosity, what are the tracking numbers with ebay's method looking like. do they mimic USPS tracking numbers? FEDEX and UPS tracking numbers do not.
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>I use paypal label/shipping service and not ebay shipping. Here's a cut and paste from the details of my last paypal shipping fee payment:
"Payment Sent (Unique Transaction ID # 3MY371624C954415M)
Business Name:
US Postal Service (The recipient of this payment is Verified)."
In this case USPS insurance rules apply and claims are filed directly with USPS. >>
I'll be sure to select that the next time I insure a package.
Of course I could cut PayPal completely out of the picture and deal directly with www.usps.com but then I'd have to be sure that tracking information got transferred back to eBay.
The name is LEE!
Page 8 of the postal publication states:
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 collector’s newsletter and trade paper.
Spring National Battlefield Coin Show is April 12-13, 2024 at the Eisenhower Hotel in Gettysburg, PA. WWW.AmericasCoinShows.com
<< <i>You have the option of two different insurers Ship Saver is the default, USPS insurance can also be selected at a higher cost. >>
Correct.
<< <i>I use paypal label/shipping service and not ebay shipping. >>
Not for much longer. eBay has begun forcing eBay sales to be processed through eBay shipping. It's in transition right now, so some are getting redirected when attempting to print a label in PayPal and others aren't. Soon, it will be everybody.
Russ, NCNE
<< <i>I'm keeping my fingers crossed that Saturday remains a day of delivery through the post office for many years to come. >>
I'll give it up if they get rid of the terrible reliever that does mine on Saturday. Half the time all I get is a slip telling me to drive twenty miles to get what she was to lazy to bring up to the house for signature.
<< <i>You have the option of two different insurers Ship Saver is the default, USPS insurance can also be selected at a higher cost.
This was on the eBay site as of yesterday when I shipped my last item.
Ship Saver has been available from eBay for a couple of years IIRC.
I see now that there is a drop down menu on Paypal for USPS insurance.
<< <i>
<< <i>I'm keeping my fingers crossed that Saturday remains a day of delivery through the post office for many years to come. >>
I'll give it up if they get rid of the terrible reliever that does mine on Saturday. Half the time all I get is a slip telling me to drive twenty miles to get what she was to lazy to bring up to the house for signature.
When you drive that 20 Miles, you really need to complain!
I had one lady do the same thing but she flat out denied it! After that, she began bringing them to the house. She even brought me back some coins from her trip to Europe. she was quite friendly once a face was placed with the name and address.
The name is LEE!
<< <i>
<< <i>
<< <i>I'm keeping my fingers crossed that Saturday remains a day of delivery through the post office for many years to come. >>
I'll give it up if they get rid of the terrible reliever that does mine on Saturday. Half the time all I get is a slip telling me to drive twenty miles to get what she was to lazy to bring up to the house for signature.
When you drive that 20 Miles, you really need to complain!
I had one lady do the same thing but she flat out denied it! After that, she began bringing them to the house. She even brought me back some coins from her trip to Europe. she was quite friendly once a face was placed with the name and address. >>
She knows me and so does the Post Master now. I was not the only one complaining.