Change to USPS Registered Mail

derryb

Previously one always had to declare item value but was given the option of buying USPS insurance for registered mail. Recent change makes insurance mandatory for the declared value and the registered mailing fee will vary depending on the now included insured value. The USPS receipt no longer shows "Insured Value," only a "Registered Amount" which is the declared and now automatically insured value. Also appears insurance limit for registered mail has been raised to $50K.

Latest Domestic Mail Manual for Extra Services

roadrunner

"market value or cost."

I wonder how they will make that decision when it comes time to pay out? You just bought an old rattler MS64 1867 seated dollar that is a sure fire upgrade shot and now you have to put it into REG mail to ship to a TPG. This would have to seriously affect someone like Wondercoin who routinely finds 3 and 4 figure slabbed coins with 5X to 10X upgrade potential.

If I was one of the private insurers of Coin Dealers I wouldn't want the value of the package declared. I'd tell my customers to ship it with "no value" or "minimal value."

BAJJERFAN

In the past 5 or so years, I've never been told I could decline to purchase insurance for RM if I declared a value greater than $0. Oftimes, I just under-declared the value, instead counting on the reliability of RM to get it there.

BAJJERFAN

<< <i>"market value or cost."

I wonder how they will make that decision when it comes time to pay out? You just bought an old rattler MS64 1867 seated dollar that is a sure fire upgrade shot and now you have to put it into REG mail to ship to a TPG. This would have to seriously affect someone like Wondercoin who routinely finds 3 and 4 figure slabbed coins with 5X to 10X upgrade potential.

If I was one of the private insurers of Coin Dealers I wouldn't want the value of the package declared. I'd tell my customers to ship it with "no value" or "minimal value." >>



The only "market value" that you can prove is the price that you paid. Some increased value do to an opinion upgrade is not assured, so I do not see the USPS paying up for lost "potential value". If it's that serious of a concern, declare the value as $200K, pay the security surcharge and they will guarantee delivery. The security surcharge is basically a fee per $1000 over the insurance limit to cover extra security when warranted.

derryb

<< <i>The only "market value" that you can prove is the price that you paid. >>


Or the hopefully higher price your buyer paid.

BAJJERFAN

<< <i>

<< <i>The only "market value" that you can prove is the price that you paid. >>


Or the hopefully higher price your buyer paid. >>



If the coin was sold then I would hope the sales price would be the value. If you are sending it to PCGS for grading, market value is your cost.