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Shipping Insurance Description
doppeltaler
Posts: 41 ✭✭
in Q & A Forum
I am about to consign to one of the popular auction houses for the first time. Based on what i can find USPS is the recommended and with full value insured. I am wondering if i should avoid putting coins in to the insurance description and wonder what everyone else has done in the past. Also wondering if i should list the value based on what i have paid in the past (around $10K) or rough current market value (around $7K). Thank you.
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@doppeltaler
“Collectibles” is a good generic term. My PO doesn’t ask questions as long as the form is filled out properly. Helps that I am on good terms with the worker bees.
USPS standard insurance is $5000 max.
USPS registered mail is $25,000 max. So you’ll need to use this and even if the value was less than $5000, I would still use it for anything over $500.
Value should be the current market value or cost. If you have your purchase receipt from the original purchase that would be a good. If not, then current market value at time of mailing (print out current valuations) and save until safely delivered. You need either one if something happens and you need to file a claim.
https://pe.usps.com/text/DMM300/503.htm
There is also third party insurance, but I’ll leave that for others to answer. You may also want to post in the US Coin forum for more responses.
Thank you !
I believe above "quotes" are for mailing with USPS only within the USA?
Good advice from Doppeltaler.
Most insurance policies contain a 'Plain Wrapper Warranty' which states that the label should not contain any words that identify the contents. The usual concern is when sending to 'John Hancock Rare Coins' -in that example the label should be abbreviated to JHRC.
Any insurance questions on shipping, feel free to ask.