There's some really trusting souls out there!

Broadstruck · February 19, 2013 6:01AM

Today I received $700.00 coin in the mail sent in a regular envelope via first class with 65 cents worth of stamps... Nothing else!

Meltdown · February 19, 2013 6:15AM

Sweet! I've thought about doing that about 50 different times. Never have been able to make myself do it, but there's some type of crazy logic to just sending an envelope with a stamp as opposed to a bubble mailer with a $700 insurance sticker plastered all over it.

Dolan · February 19, 2013 6:15AM

guitarwes · February 19, 2013 6:16AM

Maybe to be inconspicuous.

Maybe they didn't want it to be sent in a secured taped up box with a big blue "Insured" label on it.

Last week I got a regular envelope with 2- $500 money orders and $65 cash in it. Glad I'm honest.

Broadstruck · February 19, 2013 6:20AM

<< Sweet! I've thought about doing that about 50 different times. Never have been able to make myself do it, but there's some type of crazy logic to just sending an envelope with a stamp as opposed to a bubble mailer with a $700 insurance sticker plastered all over it. >>

Me neither as I just mailed out 1 $50 item and 2 $100 items this morning all fully insured.

LanceNewmanOCC · February 19, 2013 6:21AM

.
my friend received an 1802 $2.5 xf45 in a regular envelope in a pcgs holder. amazing the envelope didn't tear or the slab didn't crack!

i took a picture of the envelope with my phone.
.

Meltdown · February 19, 2013 6:32AM

<< 

<< Sweet! I've thought about doing that about 50 different times. Never have been able to make myself do it, but there's some type of crazy logic to just sending an envelope with a stamp as opposed to a bubble mailer with a $700 insurance sticker plastered all over it. >>

Me neither as I just mailed out 1 $50 item and 2 $100 items this morning all fully insured. >>

Yep. If you play with fire, you're gonna get burned. I insure everything over $100 and delivery confirmation everything else.

Broadstruck · February 19, 2013 6:37AM

<< my friend received an 1802 $2.5 xf45 in a regular envelope in a pcgs holder. amazing the envelope didn't tear or the slab didn't crack! >>

No insurance either

lkeigwin · February 19, 2013 6:39AM

I self insure most coins. Insurance is a profitable business. The only exception is something very pricey.
Lance.

ricko · February 19, 2013 6:39AM

Never understood why people take chances like this....always have insured and super packed my shipments and sent registered. Cheers, RickO

Broadstruck · February 19, 2013 6:47AM

<< I self insure most coins. Insurance is a profitable business. The only exception is something very pricey. >>

"self" meaning your own private insurance or out of pocket

LanceNewmanOCC · February 19, 2013 6:50AM

<< 

<< 

<< Sweet! I've thought about doing that about 50 different times. Never have been able to make myself do it, but there's some type of crazy logic to just sending an envelope with a stamp as opposed to a bubble mailer with a $700 insurance sticker plastered all over it. >>

Me neither as I just mailed out 1 $50 item and 2 $100 items this morning all fully insured. >>

Yep. If you play with fire, you're gonna get burned. I insure everything over $100 and delivery confirmation everything else. >>

the equation is simple. how much extra you spend on shipping and shipping extras vs the amount of the item(s) vs the estimated expected loses. one can save many hundreds of dollars, possibly even a few thousand a year.

the only problem i have is if one is lost, having an unhappy customer. but that number can be reduced as most people are pretty decent and so long as they get a refund don't make too much fuss. i base these on 2000+ transactions through the mail.

i will also take signature confirm over insur any day on items under $500. An insured package sitting in a mailbox is nothing but a target imo whereas a sig req goes back to the post office to be picked up.

that is my take on the whole thing for under $500. over 500 is another matter somewhat.

a person can even start a basic 1 page spreadsheet and track the savings and then deduct any loses and see how far ahead/behind they are. basic math
.

bolivarshagnasty · February 19, 2013 7:17AM

Years ago I received a Lincoln that had been purchased on the bay. Came in a white envelope as you described, but what caught my attention was the imprint of Lincoln on the outside of the envelope. The sorting machines had squeezed the envelope and coin which had a single layer of additional paper inside. Fortunately, the coin was an under inexpensive coin and appeared not to be damaged.

That's my story.

Bochiman · February 19, 2013 7:39AM

<< I self insure most coins. Insurance is a profitable business. The only exception is something very pricey.
Lance. >>

Ditto. There are times when I get a certain feeling (sometimes about the receiver, sometimes just about "that time of year" or "that location") and I insure through the postal service.
However, many times, below a certain amount (could be $200, could be $500), I will self-insure. Did it this weekend mailing a coin back to a dealer (was to me on approval and neither my son nor I really jibed with this particular toning whereas some folks would).

So, I sent it back. I did, however, send it back in a box and not a manila envelope (was sent to me in one) and I taped it up. No postal/private insurance. If something happens (I trust the receiver implicitly), I will pony up full price from my pocket and "buy the coin" (ie...I will be out ~$200 but that was my decision to take the risk).

On ebay deals, I frequently did insure as I wasn't always sure about things. on board transactions, if I have dealt with the person a bit, I may not insure but, again, it would all be on me.

LindeDad · February 19, 2013 7:39AM

Jerry has been advocating the coffee can insurance plan for years on the less than a thousand stuff. Been using it for the last few years. Put a buck in the can for every $100.00 of value, add Signature Service at $200.00 and at a thousand make the trip to the post office for the Express package.
Had to pay out one claim last year and the fact that the buyer was paid in five minutes got positive feedback rather than being unhappy and waiting a month or so on the Postal Service paying the claim.

Edit to add that for something like what the OP got I am not that trusting he would of had to sign for the Small Flat Rate box at that value from me.

19Lyds · February 19, 2013 8:26AM

<< Today I received $700.00 coin in the mail sent in a regular envelope via first class with 65 cents worth of stamps... Nothing else!

>>

Was it in a Saf-T-Mailer?

keyman64 · February 19, 2013 8:40AM

Not the way I would choose to ship things. Yikes

BryceM · February 19, 2013 8:48AM

<< I self insure most coins. Insurance is a profitable business. The only exception is something very pricey.
Lance. >>

I'm sort of with Lance on this one. I buy insurance for anything that would actually affect my lifestyle, if lost. For everything else, I try to package and ship intellegently and take my chances. The money saved adds up and it doesn't take long to exceed the cost of the "average" coin.

BAJJERFAN · February 19, 2013 9:00AM

<< 

<< I self insure most coins. Insurance is a profitable business. The only exception is something very pricey. >>

"self" meaning your own private insurance or out of pocket

>>

Some people charge for insurance and throw the money into a pot to pay out any claims which may arise.

lcoopie · February 19, 2013 9:20AM

insurance must be a huge money maker for the PO

thisnamztaken · February 19, 2013 9:35AM

<< insurance must be a huge money maker for the PO >>

Yes, especially when the letter carrier doesn't even bother to come to the door to have you sign for parcels that are insured for $200.00 or more (like they are "required" to do). I have been astounded many times over the years to see them just leave a $500.00 and more insured package in the mailbox without asking for a signature!

19Lyds · February 19, 2013 9:40AM

<< 

<< insurance must be a huge money maker for the PO >>

Yes, especially when the letter carrier doesn't even bother to come to the door to have you sign for parcels that are insured for $200.00 or more (like they are "required" to do). I have been astounded many times over the years to see them just leave a $500.00 and more insured package in the mailbox without asking for a signature!

>>

No doubt, some do but a majority do not.

lkeigwin · February 19, 2013 9:42AM

By "self insure" I mean I pay myself for the insurance I didn't buy. After doing this for years I've saved many hundreds of dollars. Some day something will get lost and I'll have to pay myself for the claim. But I am way ahead of the game.

As for customer satisfaction, well, whether it's self insured or insured by a 3rd party or the PO, it doesn't matter. The coin is lost and the buyer wants to be reimbursed. It's a lot faster and easier with self insurance.

I don't like shipping labels displaying "insured" and the amount of postage. I think it's asking for trouble.

I try to use common sense. Box in a box. And I never use "coin" in the address no matter what the dealer's business name is. Even the packages I send to PCGS are addressed to "CU". I do pay for delivery confirmation. And I ask to be emailed when the package arrives. Peace of mind.

I'm not saying the above is any guarantee. Just that it improves the odds.

My 5-digit submission to PCGS last week went registered/insured. I'm not prepared to eat that kind of a loss.

As a tangent, I find it kind of funny that our host rarely uses registered mail but everyone swears by it.
Lance.

LindeDad · February 19, 2013 9:49AM

<< As a tangent, I find it kind of funny that our host rarely uses registered mail but everyone swears by it. >>

They used to and those very same everyone's used to gripe like heck that it took so long to get their orders back.

ARCO · February 19, 2013 10:49AM

I like Ike's and Lindedad's approach to self insurance. I spent ten years insuring every coin diligently. I spent thousands and thousands. I lost three coins right in the same month. The USPS wouldn't pay out, claimed that they had been delivered. Turns out one really had and the receiver sent it back to me about six months later (poster on this board I believe) after it turned up in some trash heap in his house. LOL.

I am sold. Unless the coin is in the $800-1,000 range (haven't decided yet) or higher, I will be the insuring party.

Tyler

pennyannie · February 19, 2013 1:08PM

Had to pay out one claim last year and the fact that the buyer was paid in five minutes got positive feedback rather than being unhappy and waiting a month or so on the Postal Service paying the claim.

A couple of times over the years a item that was insured was lost, once the claim was filed i just forked over the money and waited on the insurance check. I see no reason to make the person wait for the funds.

I sent out 8 ebay items with just postage, 3 did not show up. ( I sold some funnels for 10 bucks each that cost me 1.35) I think a certain percentage of ebayers will claim a no show if delivery confimation is not used. I do not put delivery confirmation on any of the payments i send out each month, they always show up.

golden · February 19, 2013 1:16PM

<< Never understood why people take chances like this....always have insured and super packed my shipments and sent registered. Cheers, RickO >>

BAJJERFAN · February 19, 2013 1:57PM

<< 

<< As a tangent, I find it kind of funny that our host rarely uses registered mail but everyone swears by it. >>

They used to and those very same everyone's used to gripe like heck that it took so long to get their orders back. >>

The coins don't belong to PCGS and they have no interest in or attachment to them. They just see that an insurance check [which you paid the premium for] gets cut and all is well.

TwoSides2aCoin · February 19, 2013 8:27PM

I hate mailing coins. The paper paid loses it's value before the glue on the stamp loses it's stickiness.

There's some really trusting souls out there!

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