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Lost package by USPS to PSA

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  • JoeBanzaiJoeBanzai Posts: 8,281 ✭✭✭✭✭

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @1951WheatiesPremium said:

    @JoeBanzai said:

    @sjjs28 said:
    Wishing you nothing but the best - but just wanted to recant an experience I had many years ago ...
    A group of my buddies and I were submitting cherry picked cards from the Bonds Rookies' era.
    150 of the best of the best - boxed up and sent to PSA (and insured!!) -
    Never made it. Never heard from it again - all these many years.

    Search and investigated and no one could locate it (stolen??)

    Here's the fun part - we insured if for $1000 - $1500, don't really remember anymore.
    Guess what happened when we tried to collect on the insurance??
    USPS wanted an accounting what was inside - no problem: we had a line by line inventory
    Next they wanted to know the value of what was lost - we estimated the value at $25 - $50 each. Should be pretty close if they 9 or 10's as we expected.
    Well the post office didn't want to hear any of that .... they told us the cards were worth $0.01 or a $0.10 based on their information - they were ready to cut a check for $15 to settle the claim. Bogus
    We tried to explain how the intricacies of the PSA grading system worked and how the cards were much more valuable and just any example of that (those) cards once they were graded. Not flying.
    We told them to choke on their $15.00

    Here's the point of the story -
    I hope you insured them and maybe went as far as taking pictures -
    But unfortunately they were heading to California, not returning from California.
    If it was the other way around - the replacement value would be easier to ascertain.
    If they are not found and If a claim is made, you can throw out all of the care you took to hi-grade for the "best" and assume
    "pennies on the card" vs. what you valued them for...

    Good Luck

    I realize i will lose the argument, but why on earth should you have to prove the value of anything you insure after the item is lost by the insurer? The insurance was purchased at the rate determined (in these cases) by the USPS, if they lose the package they should issue the insurance amount purchased. Seems like fraud to me.

    If they enter into an agreement like this and want proof of value, it should be done prior to the purchase.

    Legal experts, what am I missing?

    Insurance is for ‘up to‘ and in this case, they’re going to do their own valuations.

    PS - They’re right; ungraded cards hold very little value when compared with graded, right? It’s why we all send cards there...

    why not keep a receipt for an expensive item and claim it's that?

    >

    because thats insurance fraud punishable by imprisonment and hefty fines.

    Well, I would never do that. What I won't ever do again is buy insurance from the USPS.

    both are equally great ideas.

    What I would like to do is SELL insurance. I'll name my company "All Claims Denied" ;-)

    2013,14 and 15 Certificate Award Winner Harmon Killebrew Master Set and Master Topps Set
  • countdouglascountdouglas Posts: 1,257 ✭✭✭✭✭

    This isn't just a USPS issue, it's an issue with pretty much all insurance. They're happy to sell it to you, but God help you if you ever need to use it. You'll find out that you weren't really covered for what you thought you were, or maybe not at a level that you thought you were. Or, if by chance you have a company that pays without much resistance, expect your premiums to immediately go up, or they may move to drop you altogether. Insurance companies are like casinos, and in my opinion, have worse odds. You know neither one is in business to give away money, but personally, I'll take my chances on the blackjack table over fighting it out with the claims adjuster any day of the week.

  • blurryfaceblurryface Posts: 2,226 ✭✭✭✭✭

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @1951WheatiesPremium said:

    @JoeBanzai said:

    @sjjs28 said:
    Wishing you nothing but the best - but just wanted to recant an experience I had many years ago ...
    A group of my buddies and I were submitting cherry picked cards from the Bonds Rookies' era.
    150 of the best of the best - boxed up and sent to PSA (and insured!!) -
    Never made it. Never heard from it again - all these many years.

    Search and investigated and no one could locate it (stolen??)

    Here's the fun part - we insured if for $1000 - $1500, don't really remember anymore.
    Guess what happened when we tried to collect on the insurance??
    USPS wanted an accounting what was inside - no problem: we had a line by line inventory
    Next they wanted to know the value of what was lost - we estimated the value at $25 - $50 each. Should be pretty close if they 9 or 10's as we expected.
    Well the post office didn't want to hear any of that .... they told us the cards were worth $0.01 or a $0.10 based on their information - they were ready to cut a check for $15 to settle the claim. Bogus
    We tried to explain how the intricacies of the PSA grading system worked and how the cards were much more valuable and just any example of that (those) cards once they were graded. Not flying.
    We told them to choke on their $15.00

    Here's the point of the story -
    I hope you insured them and maybe went as far as taking pictures -
    But unfortunately they were heading to California, not returning from California.
    If it was the other way around - the replacement value would be easier to ascertain.
    If they are not found and If a claim is made, you can throw out all of the care you took to hi-grade for the "best" and assume
    "pennies on the card" vs. what you valued them for...

    Good Luck

    I realize i will lose the argument, but why on earth should you have to prove the value of anything you insure after the item is lost by the insurer? The insurance was purchased at the rate determined (in these cases) by the USPS, if they lose the package they should issue the insurance amount purchased. Seems like fraud to me.

    If they enter into an agreement like this and want proof of value, it should be done prior to the purchase.

    Legal experts, what am I missing?

    Insurance is for ‘up to‘ and in this case, they’re going to do their own valuations.

    PS - They’re right; ungraded cards hold very little value when compared with graded, right? It’s why we all send cards there...

    why not keep a receipt for an expensive item and claim it's that?

    >

    because thats insurance fraud punishable by imprisonment and hefty fines.

    Well, I would never do that. What I won't ever do again is buy insurance from the USPS.

    both are equally great ideas.

    What I would like to do is SELL insurance. I'll name my company "All Claims Denied" ;-)

    you’d be astonished to find out that is the first, second & third steps in 95% of all insurance companies “policies and procedures” manual when it comes to responding to claims.

    If you’ve never seen the movie “the rainmaker”, do yourself a favor. besides being loaded w an all star cast, it’s a really dark glimpse behind the veil of how insurance companies truly operate.

    the best ability is availability.

  • JoeBanzaiJoeBanzai Posts: 8,281 ✭✭✭✭✭

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @1951WheatiesPremium said:

    @JoeBanzai said:

    @sjjs28 said:
    Wishing you nothing but the best - but just wanted to recant an experience I had many years ago ...
    A group of my buddies and I were submitting cherry picked cards from the Bonds Rookies' era.
    150 of the best of the best - boxed up and sent to PSA (and insured!!) -
    Never made it. Never heard from it again - all these many years.

    Search and investigated and no one could locate it (stolen??)

    Here's the fun part - we insured if for $1000 - $1500, don't really remember anymore.
    Guess what happened when we tried to collect on the insurance??
    USPS wanted an accounting what was inside - no problem: we had a line by line inventory
    Next they wanted to know the value of what was lost - we estimated the value at $25 - $50 each. Should be pretty close if they 9 or 10's as we expected.
    Well the post office didn't want to hear any of that .... they told us the cards were worth $0.01 or a $0.10 based on their information - they were ready to cut a check for $15 to settle the claim. Bogus
    We tried to explain how the intricacies of the PSA grading system worked and how the cards were much more valuable and just any example of that (those) cards once they were graded. Not flying.
    We told them to choke on their $15.00

    Here's the point of the story -
    I hope you insured them and maybe went as far as taking pictures -
    But unfortunately they were heading to California, not returning from California.
    If it was the other way around - the replacement value would be easier to ascertain.
    If they are not found and If a claim is made, you can throw out all of the care you took to hi-grade for the "best" and assume
    "pennies on the card" vs. what you valued them for...

    Good Luck

    I realize i will lose the argument, but why on earth should you have to prove the value of anything you insure after the item is lost by the insurer? The insurance was purchased at the rate determined (in these cases) by the USPS, if they lose the package they should issue the insurance amount purchased. Seems like fraud to me.

    If they enter into an agreement like this and want proof of value, it should be done prior to the purchase.

    Legal experts, what am I missing?

    Insurance is for ‘up to‘ and in this case, they’re going to do their own valuations.

    PS - They’re right; ungraded cards hold very little value when compared with graded, right? It’s why we all send cards there...

    why not keep a receipt for an expensive item and claim it's that?

    >

    because thats insurance fraud punishable by imprisonment and hefty fines.

    Well, I would never do that. What I won't ever do again is buy insurance from the USPS.

    both are equally great ideas.

    What I would like to do is SELL insurance. I'll name my company "All Claims Denied" ;-)

    you’d be astonished to find out that is the first, second & third steps in 95% of all insurance companies “policies and procedures” manual when it comes to responding to claims.

    If you’ve never seen the movie “the rainmaker”, do yourself a favor. besides being loaded w an all star cast, it’s a really dark glimpse behind the veil of how insurance companies truly operate.

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @blurryface said:

    @JoeBanzai said:

    @1951WheatiesPremium said:

    @JoeBanzai said:

    @sjjs28 said:
    Wishing you nothing but the best - but just wanted to recant an experience I had many years ago ...
    A group of my buddies and I were submitting cherry picked cards from the Bonds Rookies' era.
    150 of the best of the best - boxed up and sent to PSA (and insured!!) -
    Never made it. Never heard from it again - all these many years.

    Search and investigated and no one could locate it (stolen??)

    Here's the fun part - we insured if for $1000 - $1500, don't really remember anymore.
    Guess what happened when we tried to collect on the insurance??
    USPS wanted an accounting what was inside - no problem: we had a line by line inventory
    Next they wanted to know the value of what was lost - we estimated the value at $25 - $50 each. Should be pretty close if they 9 or 10's as we expected.
    Well the post office didn't want to hear any of that .... they told us the cards were worth $0.01 or a $0.10 based on their information - they were ready to cut a check for $15 to settle the claim. Bogus
    We tried to explain how the intricacies of the PSA grading system worked and how the cards were much more valuable and just any example of that (those) cards once they were graded. Not flying.
    We told them to choke on their $15.00

    Here's the point of the story -
    I hope you insured them and maybe went as far as taking pictures -
    But unfortunately they were heading to California, not returning from California.
    If it was the other way around - the replacement value would be easier to ascertain.
    If they are not found and If a claim is made, you can throw out all of the care you took to hi-grade for the "best" and assume
    "pennies on the card" vs. what you valued them for...

    Good Luck

    I realize i will lose the argument, but why on earth should you have to prove the value of anything you insure after the item is lost by the insurer? The insurance was purchased at the rate determined (in these cases) by the USPS, if they lose the package they should issue the insurance amount purchased. Seems like fraud to me.

    If they enter into an agreement like this and want proof of value, it should be done prior to the purchase.

    Legal experts, what am I missing?

    Insurance is for ‘up to‘ and in this case, they’re going to do their own valuations.

    PS - They’re right; ungraded cards hold very little value when compared with graded, right? It’s why we all send cards there...

    why not keep a receipt for an expensive item and claim it's that?

    >

    because thats insurance fraud punishable by imprisonment and hefty fines.

    Well, I would never do that. What I won't ever do again is buy insurance from the USPS.

    both are equally great ideas.

    What I would like to do is SELL insurance. I'll name my company "All Claims Denied" ;-)

    you’d be astonished to find out that is the first, second & third steps in 95% of all insurance companies “policies and procedures” manual when it comes to responding to claims.

    If you’ve never seen the movie “the rainmaker”, do yourself a favor. besides being loaded w an all star cast, it’s a really dark glimpse behind the veil of how insurance companies truly operate.

    Believe me, I know first hand how insurance companies work;

    I worked for a major uniform and rug rental company for 10 years. My route kept getting bigger and bigger. I started rushing to try to get done and broke my ankle.

    First diagnosis was a bad sprain, then after several weeks of physical therapy, they figured out it was broken. Something called OCD, where you roll your ankle and the leg bone crushes the top of your ankle bone. Happens a lot to sky divers (and guys carrying too many rugs while stepping down from a delivery truck).

    Doctor told me I needed an operation, they would go in with a pick like tool and damage the broken bone to stimulate it to regrow. I thought that was ridiculous and said "What if that doesn't work?" doctor (yes, a specialist) said then they would do a bone graft. I asked why not just do the graft first, he said that would cost more and the insurance company would only allow the cheaper operation first.

    Gee, guess what, operation didn't work. Doctor then said I had to go back to work. and even though the ankle "hadn't filled in" (healed). refusing to answer my questions about a bone graft. Luckily for me I had been warned, and had a good lawyer lined up. Fought to get a second opinion and that Specialist said if I went back to work like the original Doctor instructed, the ankle would collapse within a month. Had a second operation that was successful. The entire ordeal took about three years to come to a close. Even with repaired ankle, I was unable to return to my regular duties and ended up being fired.

    Insurance company also tried screwing me on my pay. I worked 60 hours a week, every week, and they tried to pay based on 40. I was able to have the Minnesota attorney general's office get that fixed.

    I worked my rear end off and ended up getting totally shafted.

    The thing I never understood was why they would send me back to work with a broken ankle. It was just going to fail and I would have had to have an ankle replacement. That would have been a much more expensive operation.

    Of course I didn't get much of a settlement even though I had one of the best lawyers in the State.

    In the end, it worked out for the best, but at the time, I was a pretty hate filled guy. There's quite a bit more to the story, but it's already looking like a novel.

    2013,14 and 15 Certificate Award Winner Harmon Killebrew Master Set and Master Topps Set
  • JBrulesJBrules Posts: 1,866 ✭✭✭✭✭

    Great news. You must be feeling pretty good after waiting so long.

  • grote15grote15 Posts: 28,103 ✭✭✭✭✭

    Awesome news! Now, take a deep breath and settle in for the grades to pop!



    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.
  • ElvisPElvisP Posts: 897 ✭✭✭

    @grote15 said:
    Awesome news! Now, take a deep breath and settle in for the grades to pop!

    Agree, 2022 will be here before you know and you should have your cards back sometime next year. Glad they finally made it. Happy for you.

  • grote15grote15 Posts: 28,103 ✭✭✭✭✭

    @ElvisP said:

    @grote15 said:
    Awesome news! Now, take a deep breath and settle in for the grades to pop!

    Agree, 2022 will be here before you know and you should have your cards back sometime next year. Glad they finally made it. Happy for you.

    The longer the wait the higher the values will appreciate!



    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.
  • nam812nam812 Posts: 9,922 ✭✭✭✭

    @FrankC79 said:
    Hi All - Great Update. My cards from November just showed up at PSA.

    That knock at the door is the USPS wanting their $58.50 back. :D



  • GoldenageGoldenage Posts: 553 ✭✭✭

    I had a package mailed in November 2020 just arrive in NJ yesterday, 4 months later.

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