Options
One more question for ebayers
genesis156
Posts: 42 ✭✭
When you sell coins in the $50-$500 range, do you buy insurance from the USPS or use ebays "shipcover insurance"?
genesis156
0
Comments
bob
<< <i>Do not use the ebay insurance. Only use USPS offered insurance.
bob
This.
<< <i><< Do not use the ebay insurance. Only use USPS offered insurance.
bob >>
This. >>
Yep, this. Why? Ebay's Shipcover insurance does not cover coins. They shouldn't even make the option available for certain categories that aren't covered (like coins), but then that would keep them from gathering some extra, risk free money.
Edit to add: I have asked Ebay to modify the shipping labels screen to allow a seller to set a default insurance, but so far, only deaf ears...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
Best part is, if you ever lose a package you avoid the headaches of collecting from the P.O.
Self insurance is a option to be weighed.
I shipped over 500 cheap items and only lost one, your results might very.
BTW a coin sold for $750 is going out in the morning and I'm carrying the load. It will be a Priority Mail flat rate box with Signature service added.
<< <i>When you say self insurance are you talking about some type of homeowners insurance? >>
No. I am talking about not having any insurance coverage. It works out well in the medium to long run.
You may not be ready for that though.
<< <i>I actually wouldn't buy insurance at all in that range. >>
Yeah, that's what I was kind of thinking. Just wanted to know what the experienced guys were doing.
<< <i>Do not use the ebay insurance. Only use USPS offered insurance.
bob
<< <i>When you say self insurance are you talking about some type of homeowners insurance? >>
I don't think that's the message. It simply means if the package gets lost YOU will pay the customer or replace the item. Statistically it's a good bet. So I am sure you are asking, "how can I trust the buyer"? You can't 100%. However, if they are a repeat buyer you're probably OK. Also, look at their feedback. Last, always get a signature confirmation and consider adding this line to your terms: No claim will be paid for loss or non delivery where carrier indicates a status of "delivered".
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
please verify coverage amount. The USPS began doing this a year ago or so
<< <i>So I am sure you are asking, "how can I trust the buyer"? You can't 100%. However, if they are a repeat buyer you're probably OK. Also, look at their feedback. Last, always get a signature confirmation and consider adding this line to your terms: No claim will be paid for loss or non delivery where carrier indicates a status of "delivered". >>
The only concern with an ebay buyer regarding insurance is a buyer claim of damaged during shipping. All other concerns about a buyer are covered by ebay and paypal seller protection as long as required delivery or signature confirmation is used, paypal details page says "ok to ship" and item is as described. Once delivered intact, shipping insurance serves no other purpose. The only role buyer trust plays with insurance involves a damage claim after delivery.
Self insured means "no insurance," shipper eats the loss and reimburses the buyer. It's an odds game and should be used for lower value items. With ebay sales, insurance protects the seller, not the buyer. Ebay items belong to the buyer until proof of delivery.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>You could ship USPS PRIORITY and get automatic insurance up to $50 <<?
please verify coverage amount. The USPS began doing this a year ago or so >>
Yes, that is correct. It is $100 for certain commercial accounts.
<< <i>You could ship USPS PRIORITY and get automatic insurance up to $50 <<?
please verify coverage amount. The USPS began doing this a year ago or so >>
Priority Mail includes $50 insurance, additional insurance can be purchased
Priority Mail Express includes $100 insurance, additional insurance can be purchased
USPS insurance and extra services
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>
<< <i>So I am sure you are asking, "how can I trust the buyer"? You can't 100%. However, if they are a repeat buyer you're probably OK. Also, look at their feedback. Last, always get a signature confirmation and consider adding this line to your terms: No claim will be paid for loss or non delivery where carrier indicates a status of "delivered". >>
The only concern with an ebay buyer regarding insurance is a buyer claim of damaged during shipping. All other concerns about a buyer are covered by ebay and paypal seller protection as long as required delivery or signature confirmation is used, paypal details page says "ok to ship" and item is as described. Once delivered intact, shipping insurance serves no other purpose. The only role buyer trust plays with insurance involves a damage claim after delivery.
Self insured means "no insurance," shipper eats the loss and reimburses the buyer. It's an odds game and should be used for lower value items. With ebay sales, insurance protects the seller, not the buyer. Ebay items belong to the buyer until proof of delivery. >>
And you can't just look at and trust the feedback, buyers accounts have 100% positives.
The one buyer that tried to rob me was a powerseller with feedback over 30,000 and on his ME page claimed he knew Jesus. He's an Big ego freak and I think he's out of New Jersey IIRC. edit: This Package was fully insured for $4,000.
<< <i>When you sell coins in the $50-$500 range, do you buy insurance from the USPS or use ebays "shipcover insurance"? >>
I haven't insured a shipment in the above price range in several years ... waste of money ... BTW, USPS does not insure bullion if it's shipped via Priority or First Class mail. Good luck in getting an insurance claim paid if it's for bullion ASE's, AGE's or APE's. Your best defense is to use good sturdy mailers and to pack it securely... Never had a problem.
<< <i>BTW, USPS does not insure bullion if it's shipped via Priority or First Class mail. Good luck in getting an insurance claim paid if it's for bullion ASE's, AGE's or APE's. Your best defense is to use good sturdy mailers and to pack it securely... Never had a problem. >>
Bullion is covered when shipping USPS Registered Mail, insurable up to $25K. Getting a good definition of "bullion" from USPS is another story.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I self-insure most packages. What matters most, I think, is sensible packaging (e.g., box-in-a-box, and too large to easily hide), and not telling the world there's a valuable item inside (no prominent shipping label fee shouting "valuables here"). I also like ultra-quick shipping. Less time en route.
I've been doing this for a few years now...self-insured shipping...and have yet to have a loss. Some day I'll have to pay myself for a claim, I guess. There'll be no bureaucracy or debate about it; no paperwork proving value.
Until then, if it's my money and coins, I'll choose self-insurance over a 3rd party.
Lance.
I self insure quite a lot and sometimes buy $100 of USPS insurance, since they have to sign for it.
<< <i>... and sometimes buy $100 of USPS insurance, since they have to sign for it. >>
Note that this is not the same as "signature confirmation" and does not meet ebay/paypal seller protection requirements.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>Shipcover is always more expensive.
I self insure quite a lot and sometimes buy $100 of USPS insurance, since they have to sign for it. >>
A signature isn't required by the USPS unless the insurance is for either $250 or $300. Not sure if the $50 gratis insurance from priority is included in that or not.