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Shipping insurance for (fairly)high value coins.

I have a lot coins I want graded by PCGS and I'm worried about sending them via USPS. I've only had one USPS insurance claim and it was horrible and I'm not about to use them again. The first problem is they want proof of how much you paid for the article and some of the coins I want graded were purchased over 50 years ago and I have no idea what I paid then but I want them insured for their present value.

I guessing the total valve will be five figures or maybe low six figures if I send all of them at once. Any recommendations or suggestions would be appreciated. I'm really nervous about mailing them.

Who is General Failure, and why is he reading my hard drive?

Comments

  • davewesendavewesen Posts: 5,761 ✭✭✭✭✭

    not sure where you live, but PCGS goes to shows and have members only things in Vegas where you can hand deliver for normal grading. You only have to worry about driving or (carry-on) flying.

  • mustangmanbobmustangmanbob Posts: 1,890 ✭✭✭✭✭

    For a 5 or 6 figure lot, I would hand carry or use a Brinks type shipment.

    It depends if the amount is 75,000 1 cent coins or 20 coins.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    but aren't they gonna come back to you via USPS?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • oldgoldloveroldgoldlover Posts: 429 ✭✭✭

    I always shipped my more expensive coins through the U.S. Postal service first class with insurance in an amount sufficient to cover them. Never had any problems and anyone tampering with the U.S. Postal system goes to the big house if caught.

    I helped put 20 foreign exchange students from Nigeria in the big house, each on for ten years when they stole my identity.

    The postal service got them for stealing my mail, which was only credit cards they got with my information. The amount of money was not very large but the postal service makes the rules and stealing mail is not very smart.

  • davewesendavewesen Posts: 5,761 ✭✭✭✭✭

    @derryb said:
    but aren't they gonna come back to you via USPS?

    in PCGS slabs with the PCGS price guide to value at, in case of insurance claim issues.

  • BochimanBochiman Posts: 25,285 ✭✭✭✭✭

    If you are very worried, think about the "in person" bit for certain shows where PCGS sets up. Only if you are comfortable hand carrying (driving or flying). Also be aware of timelines in getting them back graded (ie....at show or will they be returned via shipping methods).

    If you aren't comfortable hand delivering, then, unless you have a single coin(s) worth over a certain amount ($50,000 or around there....check on the USPS site), think about breaking into smaller groups and using USPS registered mail. Very secure. Slow.

    Once they have been graded, it is easier to show USPS the value if the unthinkable happens. Reading your post, it sounds like the worst part would be getting there (proving value and such).
    You could, if there is a trusted dealer/numismatist near you, have then do an independent valuation for you, prior to shipping. I would imagine that USPS would take that.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • grote15grote15 Posts: 29,480 ✭✭✭✭✭
    edited November 17, 2017 5:44PM

    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • grote15grote15 Posts: 29,480 ✭✭✭✭✭

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • jmlanzafjmlanzaf Posts: 31,618 ✭✭✭✭✭
    edited November 17, 2017 6:03PM

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

  • grote15grote15 Posts: 29,480 ✭✭✭✭✭

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • jmlanzafjmlanzaf Posts: 31,618 ✭✭✭✭✭

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    If they were using 3rd party insurance, why wouldn't it cover FedEx or UPS? Most policies I've seen cover those as well.

  • grote15grote15 Posts: 29,480 ✭✭✭✭✭
    edited November 17, 2017 6:23PM

    @jmlanzaf said:

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    If they were using 3rd party insurance, why wouldn't it cover FedEx or UPS? Most policies I've seen cover those as welcostI'm not sure how it works with Fed Ex or UPS, but that is definitely the case with USPS as those packages are shipped signature confirmation only.

    I've never used Fed Ex or UPS but for USPS packages are shipped with signature confirmation but not with USPS insurance. You can see this by simply checking the USPS site with the tracking number when the package is shipped.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭

    The risk is less with USPS than any other carrier out there.

    bob :)
    PS: I'd fly to vegas for the next show, arrive Wed evening, show up at their table Thurs am., pay for show walkthrough and then pick them up when ready Thurs aft or Friday and then fly home. Or do this at any other venue that PCGS is at.

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • TomBTomB Posts: 20,697 ✭✭✭✭✭

    There are at least a few ways around this.

    To begin with, you may take the coins with you to a show where PCGS is grading coins, or at least accepting submissions, and deliver them to PCGS in person. While this sounds like a dandy plan, keep in mind that you have to get to the show, do the paperwork, potentially hang around for grading and that you will also be liable for loss during travel. In this scenario I would suggest you have good private (collector) insurance. Additionally, you could ship them to PCGS using your carrier of choice, but I would strongly suggest USPS Registered Mail and insurance. This level of service allows $25k insurance through the USPS rather easily, but it can be boosted to $50k if you speak with your USPS clerk. If you do this then you may have multiple packages going to PCGS. Alternatively, you might still use the USPS with Registered Mail, but do not purchase insurance through the USPS and, instead, use your own private (collector) insurance. The advantage to this is that you would not have to claim any real dollar value during shipment with the USPS and the rates would likely be lower.

    When PCGS returns the coins to you they will rely heavily on your declared value when shipping, which means you should not be cheap on the value declaration in order to save a few cents here and there as it may cost you many, many dollars in a loss. Essentially, don't be penny-wise and pound-foolish.

    PM me if you have specific questions.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    @AUandAG said:
    The risk is less with USPS than any other carrier out there.

    bob :)

    This is why I asked "aren't they gonna come back to you via USPS?"

    If not personally delivering to PCGS, registered USPS is the route I would take even if it meant breaking the shipment into a couple of shipments.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    @stev32k said:
    I have a lot coins I want graded by PCGS and I'm worried about sending them via USPS. I've only had one USPS insurance claim and it was horrible and I'm not about to use them again. The first problem is they want proof of how much you paid for the article and some of the coins I want graded were purchased over 50 years ago and I have no idea what I paid then but I want them insured for their present value.

    I guessing the total valve will be five figures or maybe low six figures if I send all of them at once. Any recommendations or suggestions would be appreciated. I'm really nervous about mailing them.

    Registered is the way to go. They now insure up to $50K. If more than that just declare what you believe to be the true value and pay the extra security fee. The higher the value, the more careful they will be.

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    Does PCGS use a 3rd party insurer to insure a shipment back to a customer; regardless of carrier?

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    Some years ago, PCGS sent excess show submissions back to the office using express service from a private carrier. Turns out the shipment went missing. Did the coins ever get recovered?

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭

    I was very concern with my first PCGS's too; mine goes all the way from Maui.
    I decided on USPS with $14.000 declared value; additional cost $27 for insurance.
    They rewrapped the box with brown paper; sealed with paper adhesive, stamped all along the edge to prevent any subtle tampering. They recorded each stops with a sign off confirmation until the final destination.
    You may also used FedEx for added assurance; make sure you mark "signature required" on the form otherwise they will leave the box without any recipient.

  • jt88jt88 Posts: 2,798 ✭✭✭✭✭

    I shipped USPS priority to PCGS with value of about 50 to 70K without insurance. If you worry about it then I think you should ship USPS registered with insurance. It used to be very cheap for registered insurance but I don't what is the rate now because now express insurance is the same cost as priority insurance. USPS getting more expensive now.

  • davewesendavewesen Posts: 5,761 ✭✭✭✭✭

    maybe you should call customer service and see what they suggest - it has probably been over 5 years since I went to one of their members only things - I bought a membership and gave them 8 coins to grade with the coupon.

    show schedule ->

    https://pcgs.com/shows/

  • grote15grote15 Posts: 29,480 ✭✭✭✭✭

    @BAJJERFAN said:

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    Does PCGS use a 3rd party insurer to insure a shipment back to a customer; regardless of carrier?

    I can't speak to the UPS or Fed Ex return shipping options, but they do not use USPS insurance when shipping packages back via USPS.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • jmlanzafjmlanzaf Posts: 31,618 ✭✭✭✭✭

    @grote15 said:

    @BAJJERFAN said:

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    Does PCGS use a 3rd party insurer to insure a shipment back to a customer; regardless of carrier?

    I can't speak to the UPS or Fed Ex return shipping options, but they do not use USPS insurance when shipping packages back via USPS.

    PCGS does NOT insure FedEx or UPS packages.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I have used registered mail for valuable shipments. I have not had any problems. The idea of taking them to a show and hand delivery to PCGS is also a good idea, then you get to enjoy a great coin show as well. Cheers, RickO

  • KkathylKkathyl Posts: 3,762 ✭✭✭✭✭

    If you have a quantity you can carry with not much effort, I would go the route of the Show. You get to have the coins back right away, and get to go to a show. Seems like the best alternative here to me.

    Best place to buy !
    Bronze Associate member

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    @grote15 said:

    @BAJJERFAN said:

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    Does PCGS use a 3rd party insurer to insure a shipment back to a customer; regardless of carrier?

    I can't speak to the UPS or Fed Ex return shipping options, but they do not use USPS insurance when shipping packages back via USPS.

    USPS is one of a number of third party insurer options. As long as PCGS covers it it with something then it shouldn't matter.

  • grote15grote15 Posts: 29,480 ✭✭✭✭✭

    @jmlanzaf said:

    @grote15 said:

    @BAJJERFAN said:

    @grote15 said:

    @jmlanzaf said:

    @grote15 said:

    @ColonelJessup said:

    @grote15 said:
    If the package is lost on its way back to you, it is PCGS that would make you whole. They ship priority or registered mail with signature confirmation. Their insurance is covered by a third party and amount is dependent on what you declare value to be when you fill out the submission form.

    Double-check this. I strongly believe it to be incorrect. :(

    Negative. PCGS does not purchase USPS insurance and the declared value is what they will pay out should the coins get lost in their possession or on the way back to you. That is why they will contact you when a graded item greatly exceeds the declared value so that you can add insurance to the return package.

    Their website says the opposite. The reason they contact you us so you can pay more to cover the USPS insurance. It's also why they with ship FedEx or UPS.

    USPS is the method of shipment but packages shipped from CU are not shipped with USPS insurance. You are not understanding the difference between USPS insurance and third party insurance. I've confirmed this in the past with CU. You can also see for yourself when you enter the USPS tracking number on line. Packages are shipped with signature confirmation but not with USPS insurance.

    Does PCGS use a 3rd party insurer to insure a shipment back to a customer; regardless of carrier?

    I can't speak to the UPS or Fed Ex return shipping options, but they do not use USPS insurance when shipping packages back via USPS.

    PCGS does NOT insure FedEx or UPS packages.

    That would make sense and is consistent with USPS, then, also.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.

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