Hugh Wood

stevepk

Can anyone provide an annual cost to ensure a collection through Hugh Wood? I know it's a formula of some sort; x + y(z) where as:

x = standard flat rate
y = value of collection
z = annual amount due per $1,000 declared value of collection

I am curious whether it is cheaper to rent a bank safety deposit box or ensure through Hugh Wood. I currently keep everything in the bank safety deposit box.

lkeigwin

I am sure it is quite a bit cheaper to rent a SDB than keep coins at home and insure them with HW (or anyone else).

I like HW and have used them for years. Great people, too!
Lance.

blu62vette

You could do both, storing at a bank is super cheap for insurance.

I would just call and get a quote. Ask for Nancy, she is my rep there.

stevepk

It is hard for me to make a call during normal business hours and was hoping someone here was already a Hugh Woods customer and could provide some rough data.

lkeigwin

Roughly $3-4 for $1000 in coverage for keeping your coins in a very good safe at home with no travel coverage. But there are tiers and different levels of protection.

There's more info in this thread (but I am guessing you read it):
https://forums.collectors.com/discussion/978260/insuring-your-collection#latest

Lance.

logger7

I contacted them on shipping numismatics and they quoted me a fair price also covering premises for around $350 a year.

coinkat

Consider insurance coverage and the safe deposit box. There are reasons to still obtain a policy as the bank is not responsible for natural disasters, fire, water intrusion etc.

bigjpst

@stevepk said:

>

I am curious whether it is cheaper to rent a bank safety deposit box or ensure through Hugh Wood. I currently keep everything in the bank safety deposit box.

It's probably cheaper to have the SDB at the bank, but your items aren't insured in the box unless you buy coverage. Yea sure it's probably safe, but bank vaults get broken into, fire, floods etc.
You can go to Hugh Woods website, download the application and email it to them if you can't call.

Edited to add that I have coverage for travel, shipping and other location storage including shows etc for less than it costs to insure my 2 cars.

Wabbit2313

I pay $3.50 per $1000. Have an alarm system at home and that helped my cause.

caddyshack

all the big coin dealers use them. they are very fair

mt_msla

I misread the title of the post - I thought it read "Huge Wood".