BEWARE OF HERITAGE SHIPPING COSTS

keyman64

August 2010 - $5,200 coin, Shipping Cost Was $17.90
November 2011 - $3,450 coin, Shipping Cost Was $16.75
January 2014 - $400 coin, Shipping Cost Was $12.55

April 2015 - $1,500 coin, Shipping Cost is $24.90!!!

Seriously? I even called them to confirm. I was told they do not use private insurance and I was not given any other shipping options.
How much would it cost you to securely ship and insure a $1,500 coin? From Texas to Florida if it matters that much.

Heritage charges 17.5% for Juice as well.
I bought another coin from a different auction venue this month and they charge 10% Juice. The coin was a little under $1K and I was charged $3.50 for shipping.

Is there a problem with Heritage or is it just me? Maybe I am the problem?

Barndog

twenty five bucks is the standard charge now? That's either ludicrous or incorrect.

I think Stack's is at around eleven dollars for lower cost items. That seems right.

edit to add: Heritage's web site says yikes!

keyman64

Heritage Shipping Link

GotTheBug

.

ajaan

Fixed link

keyman64

<< <i>The Post Office has been steadily raising its package insurance costs over the last few years. I've had to make a couple of returns recently, one which involved a $700 coin and it ran me nearly $12, so I feel your pain. It was $5.75 for the package (Priority Mail flat rate small box) and the rest was for the insurance. The Heritage costs seem in line, unfortunately.... >>



I don't think their shipping fee is in line when you use private insurance! Hopefully someone will chime in with the REAL DEAL soon. Heritage does not use a fancy box, they tend to use a free flat envelope that is free and then they put the coin in a cardboard thing that is pretty darn cheap.

Barndog

they should just state that shipping is a profit center

JohnnyCache

keyman64

<< <i>they should just state that shipping is a profit center >>

Either that or declare that they are $%&^&**%$$^^*()*&*$! for not using private insurance.

I am not going to say that they are ripping people off before someone chimes in with the REAL COST but it sure seems like they are.

keyman64

<< <i> >>

On that screen it does say Service and Handling but on another screen when you go to pay it says shipping.

I thought their "SERVICE" was the 17.5% Juice....but now it looks like they want to get closer to 20% but can't yet until another auction house makes that leap first maybe?

VanHalen

<< <i>

<< <i>they should just state that shipping is a profit center >>

Either that or declare that they are $%&^&**%$$^^*()*&*$! for not using private insurance.

I am not going to say that they are ripping people off before someone chimes in with the REAL COST but it sure seems like they are. >>



Ripping people off? Well they're padding the bottom line for sure.

keyman64

<< <i>

<< <i>

<< <i>they should just state that shipping is a profit center >>

Either that or declare that they are $%&^&**%$$^^*()*&*$! for not using private insurance.

I am not going to say that they are ripping people off before someone chimes in with the REAL COST but it sure seems like they are. >>



Ripping people off? Well they're padding the bottom line for sure. >>

Maybe a disservice to customers and THEMSELVES which sounds even crazier? If they really wanted to PAD their bottom line, they would charge those fees but use PRIVATE INSURANCE.

JCMhouston

My last invoice for a single $455 coin was $12.55 shipping, prior to that 6 coins at $6300 shipping was $32.50. Both were shipped priority insured, and both in the past month.

roadrunner

Heritage charges 17.5% for Juice as well. I bought another coin from a different auction venue this month and they charge 10% Juice. The coin was a little under $1K and I was charged $3.50 for shipping.

Yes they do. But the "juice" is part of the consignor's net fees, not yours......unless you're one of the <5% that forgets to back off your auction bids by 17.5%.

And even the consignor doesn't pay a 17.5% buyer's fee, unless they're clueless. With both a 10% sellers and 17.5% buyers fee to contend wth, and a typical $25K consignment probably getting a net 85-90% of the coin's final realized price, somebody is NOT paying the total of 27.5% in fees. Even if you remove the seller's fee, someone is still not paying the entire 17.5% that remains.

I would never bid in an auction if as a buyer I had to pay a 17.5% "entry fee" for the honor to bid....and 17.5% more than I intended to write a check for. If a coin is worth $200 to me, I'm not bidding $200...but rather $170...or even $175 to cover the "round number" bid. Seller's fee and the "Juice" are negotiated by the seller as a package deal.....stated in their contract as a percentage of "hammer" price. And if you as a bidder don't factor in a buyer's fee, you get hammered.

Barndog

Stack's US Shipping for comparison:

Invoice Amount/Shipping charge




Up to $200 $7.00

$201–$300 $9.00

$301–$1,000 $11.00

$1,001–$2,000 $13.00

$2,001–$3,000 $17.00

$3,001–$5,000 $18.00

$5,001–$10,000 $23.00

$10,001–$25,000 $27.00

$25,001–$50,000 $42.00

$50,001–$75,000 $55.00

$75,001–$100,000 $70.00

$100,001–$250,000 $100.00

$250,001–$500,000 $175.00

$500,001–$750,000 $250.00

$750,001 and up $400.00

keyman64

Yes roadrunner, I think most of us understand the bidding process quite well.

My question is simple in the original post. Hopefully someone that frequently ships via private insurance will be able to chime in.

keyman64

<< <i>Stack's US Shipping for comparison:

Invoice Amount/Shipping charge




Up to $200 $7.00

$201–$300 $9.00

$301–$1,000 $11.00

$1,001–$2,000 $13.00

$2,001–$3,000 $17.00

$3,001–$5,000 $18.00

$5,001–$10,000 $23.00

$10,001–$25,000 $27.00

$25,001–$50,000 $42.00

$50,001–$75,000 $55.00

$75,001–$100,000 $70.00

$100,001–$250,000 $100.00

$250,001–$500,000 $175.00

$500,001–$750,000 $250.00

$750,001 and up $400.00 >>

Thanks Barndog! Big difference! Stacks charges close to 50% less for a $1500 coin.

roadrunner

<< <i>Yes roadrunner, I think most of us understand the bidding process quite well.

My question is simple in the original post. Hopefully someone that frequently ships via private insurance will be able to chime in. >>




Ok, you and most others around here get it. But, it seems that once every few months someone posts that as a bidder they don't like paying the increasing buyer's fee. And this misconception continues on with those new to the hobby. 17.5% juice. 10% juice. 0% juice. None of that should matter to anyone really. They're all the same to me. I just adjust my bids as a buyer and get the same % of hammer as a consignor. I would factor S&H into my bid as well. It is a cost after all.

sparky64

I just factor the buyer's fee and S&H into my bid.
No matter how exorbitant the shipping is, it applies to everyone.

People don't like to see the S&H numbers.
Maybe they should raise the buyers fee a small percentage and say "Free Shipping".

UtahCoin

I'm fortunate enough to pick up my lots in person every two months.

keyman64

<< <i>I just factor the buyer's fee and S&H into my bid.
No matter how exorbitant the shipping is, it applies to everyone.

People don't like to see the S&H numbers.
Maybe they should raise the buyers fee a small percentage and say "Free Shipping". >>

I would not have blinked twice for an amount $10-15 for shipping since I had found my previous shipping costs from Heritage to be reasonable. This one jumped out to me as a major problem and I took notice.

astrorat

Heritage this month ...

Coin - $420
Juice - $73.50
Shipping - $12.50

It was shipped from Dallas to East Texas ... just down the road

dib

<< <i>How much would it cost you to securely ship and insure a $1,500 coin? >>


I insured and shipped a coin worth $1,500 and it cost me $30.40 via USPS priority mail. Haha what did I do wrong? I wish I had only paid $13!

keyman64

<< <i>

<< <i>How much would it cost you to securely ship and insure a $1,500 coin? >>


I insured and shipped a coin worth $1,500 and it cost me $30.40 via USPS priority mail. Haha what did I do wrong? I wish I had only paid $13! >>

You didn't use private insurance and you may have bought your shipping supplies at the post office and priority costs more than 1st Class.

TomB

I use my own dealer's insurance as I imagine many other dealers use their own, too. Your $5,200 auction win would have cost the same as your $1,500 auction win for me to ship and that would be approximately $5.98. This cost is what it costs me to mail one or two coins in PCGS holders in a small box using Certified Mail. I am fully covered.

keyman64

Thanks Tom. That is generally what I suspected.

So now the question becomes...Why is Heritage doing this to their customers?

dib

<< <i>

<< <i>

<< <i>How much would it cost you to securely ship and insure a $1,500 coin? >>


I insured and shipped a coin worth $1,500 and it cost me $30.40 via USPS priority mail. Haha what did I do wrong? I wish I had only paid $13! >>

You didn't use private insurance and you may have bought your shipping supplies at the post office and priority costs more than 1st Class. >>


I'll definitely have to look into buying private insurance then. It will also save me some $ on those wicked high TPG submission shipping costs.

Baley

So now the question becomes...Why is Heritage doing this to their customers?

Because people will pay it. You did

joebb21

its an extra way to make money.

Stacks's shipping costs are much more fair in my opinion.

keyman64

<< <i>So now the question becomes...Why is Heritage doing this to their customers?

Because people will pay it. You did >>


I paid it because they told me over the phone that I did not have a choice in shipping options....
unless of course I wanted to pick it up in several months from another show or whatever.

MY RECOMMENDATION: Buy AND Sell via Great Collections if at all possible or the BST. Or a trusted dealer
if that makes you comfortable. Stacks seems to have their issues but people have posted that
they can get a great deal with buying from them sometimes and they don't double your shipping costs.

This just seems crazy to me. Unless there is something really rare, a cherrypick I am going after or something
like that...I will be avoiding Heritage if I can.

keyman64

<< <i>its an extra way to make money.

Stacks's shipping costs are much more fair in my opinion. >>

I am not sure it is an extra way for them to make money if their customer service person actually told me THE TRUTH over the phone. She said they don't use private insurance; they actually use the insurance of the carrier. That is what makes it even nuttier to me.

jdimmick

Key word is handling: heritage little extra for processing and shipping out the item

NebuchadnezzarTheGreat

Seriously? I even called them to confirm. I was told they do not use private insurance and I was not given any other shipping options.


I find this very hard to believe. Inevitably they use private insurance, as they don't purchase insurance through USPS or Fedex to ship coins.
It's simply another way to make money...which is fine, but don't state that private insurance isn't used.

ebaybuyer

the op must have many friends here, as no one has yet has mentioned how off topic this is.

BAJJERFAN

Has anyone ever had to deal with Heritage regarding a COIN that was either lost or stolen in transit? As I noted here before they just leave the package in the mailbox with no signature require.

Raufus

Just unreal. One would think that the huge buyers premium would offset this a bit. They ship promptly and papackage very well but so do I on eBay and, of course, I ship free.

dbldie55

I fail to see how this is off-topic. I agree the costs seem very high, given they always seem to ship in a flat rate envelope. As long as I get the item, then I am happy, but I could see them being broken (or lost) very easily.

Wonder how they would handle that?

BryceM

A company as large as Heritage would be foolish to pay for shipping insurance.

TwoSides2aCoin

All caps scare me.
Good thing my mailman is nice.

19Lyds

<< <i>My last invoice for a single $455 coin was $12.55 shipping, prior to that 6 coins at $6300 shipping was $32.50. Both were shipped priority insured, and both in the past month. >>

Just to put the real world into perspective, Shipping of 6 Coins valued at $6300 from the PCGS Grading Service would have been $37.95 so, you got a deal!

keyman64

<< <i>

<< <i>My last invoice for a single $455 coin was $12.55 shipping, prior to that 6 coins at $6300 shipping was $32.50. Both were shipped priority insured, and both in the past month. >>

Just to put the real world into perspective, Shipping of 6 Coins valued at $6300 from the PCGS Grading Service would have been $37.95 so, you got a deal! >>


Not according to TomB using certified mail and private insurance.

BAJJERFAN

<< <i>A company as large as Heritage would be foolish to pay for shipping insurance. >>



True if you are talking about regular USPS insurance. I wonder if they think that the UCC lets them off the hook if something gets lost or stolen.

19Lyds

<< <i>

<< <i>

<< <i>My last invoice for a single $455 coin was $12.55 shipping, prior to that 6 coins at $6300 shipping was $32.50. Both were shipped priority insured, and both in the past month. >>

Just to put the real world into perspective, Shipping of 6 Coins valued at $6300 from the PCGS Grading Service would have been $37.95 so, you got a deal! >>


Not according to TomB using certified mail and private insurance. >>

Uhhh, look at the back of a PCGS Submission form.

5 - 25 coins valued at $5,001 - $15,000 will set the submitter back $37.95.

keyman64

<< <i>

<< <i>

<< <i>

<< <i>My last invoice for a single $455 coin was $12.55 shipping, prior to that 6 coins at $6300 shipping was $32.50. Both were shipped priority insured, and both in the past month. >>

Just to put the real world into perspective, Shipping of 6 Coins valued at $6300 from the PCGS Grading Service would have been $37.95 so, you got a deal! >>


Not according to TomB using certified mail and private insurance. >>

Uhhh, look at the back of a PCGS Submission form.

5 - 25 coins valued at $5,001 - $15,000 will set the submitter back $37.95. >>

I realize what it says back there. Just because that is what it says, does that really make it a deal or anywhere close to reality when using private insurance? I would find the reverse to be true. $32 / $38 ....not a deal at all.

claychaser

If you buy from Stacks Bowers, you can arrange to pick up your lots at their Irvine office. They have been A+ on co-operation, and really pleasant to deal with.

JCMhouston

Yeah, but who can bid in their on line auctions? And who lives in Irvine?

ambro51

Drive over and pick it up.

WaterSport

This subject comes up all too frequently. Personally, I do not believe your complaints will change a thing because it has not in the many times in the past when these same issues were brought up.

For a moment, stand back and look at the company. Its one of the biggest (maybe top 3?) auction houses in the world. They do not just sell coins. There employees are paid well. The employees are leading experts in their field of coins, art, etc. They wear suits to coin shows and have a class act that is manifested in the way they conduct business. They send out free high end glossy catalogs with excellent photography of the eye candy you and I want. They are helpful to less than stellar coin collectors who stop by all day long asking questions. Want to consign? don't give them dreck. They will tell you what they want to auction out of the coins you want to sell. There is a reason they boast after each auction the millions of dollars of coins sold. I see very little difference in the way they conduct auction business and fees, etc. from any other auction company other than this is no "Dollar Store" of auction houses. The bottom line is if you want cheap shipping, go to a cheap auction house. Heck, for that matter, look at what our host charge to send you back your coins...and that amount I do recall is expected to go up any day now.


WS

derryb

Costs me $20+ to ship the OP's coin (registered, insured) from FL to TX.

Davideo

<< <i>

<< <i>A company as large as Heritage would be foolish to pay for shipping insurance. >>



True if you are talking about regular USPS insurance. I wonder if they think that the UCC lets them off the hook if something gets lost or stolen. >>



Interesting point. They may also have a policy with a very high deductible such that if a $5,000 coin is lost they just eat it.

Davideo

And for those comparing shipping costs to their own experiences shipping occasional items, that is not particularly relevant to the OPs point. His point is that a company on that large of a scale has much lower costs and is profiting from the shipping. Regardless of your opinion of the policy, it is quite common amongst companies of all types to try to make a little extra on shipping. Hey, like WaterSport said, someone's got to pay for the employees' suits