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Coins and Fedex?
Barry
Posts: 10,100 ✭✭✭
What's the real story with coins and Fedex?
Fedex lists coins and stamps in their prohibited items list. I know lots of guys use Fedex anyway. What about insurance? If you ship Fedex do you use an outside insurance company? Do you still list the full value on the Fedex form?
Fedex lists coins and stamps in their prohibited items list. I know lots of guys use Fedex anyway. What about insurance? If you ship Fedex do you use an outside insurance company? Do you still list the full value on the Fedex form?
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Russ, NCNE
In most cases for dealers that use Fed-X, such as myself, have outside insurance coverage for both Fed-X and Express Mail. I do NOT disclose the value anywhere at anytime on the fed-x forms as there is no need to do so and would in all likelihood just draw attention to the package.
Hope that helps. And....as a side note....Russ is correct in that many people use Fed-X lacking the understanding their packages are not covered.
Mike Printz
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
In my other business we ship out 10-15 overnight letter envelopes (with passports and visas in them) every day and in 10 years I have never had a package lost. I can count on one hand the amount of packages that were delivered in 2 days when it should have been next day.
I like the tracking of Fedex and that they pickup daily from my office.
I wish they were just a little cheaper and could somehow deliver to PO boxes because I would onlu use them.
I am returning the 1799 gold Eagle that I posted pics of yesterday. The dealer would like it back ASAP, for Baltimore, and asked I Fedex it. That's why I asked the question. I don't have outside insurance available in such short notice. I told him I want to send it Registered, but he probably wouldn't get it in time (PA to CA) as he's leaving this weekend. He's going to give me a Balto address to ship Registered, and that should solve the problem.
BTW, if any of you guys want to see the coin in person, it's going to Barry Stuppler. I'd be interested in hearing any comments you may have after seeing it live. It's a 1799 Gold Eagle in an NGC 58 holder.
<< <i>I can say I would trust Fedex 100% more than the post office and would use them if people would accept the delivery of their coins by them >>
Sorry, JBSteven, I must disagree. While I very much like the convenience and efficiency of Fedex (and we frequently use their services), I believe that registered/insured mail is safer and has fewer thefts, percentage-wise.
<< <i>I believe that registered/insured mail is safer and has fewer thefts, percentage-wise. >>
Mark
it might be true with your experiences but with 10,000-12,000 packages I have sent through Fedex I have had not one lost (none of these had coins in them though)or damaged. I have had 3 packages in the last year completely ripped off through the insured mail service. Each one of these pakages were insured and NOT ONE CLAIM HAS BEEN PAID BY THE POST OFFICE TO ME OR MY BUYERS.
Personally I think the mail service has alot to be desired. I believe the mail service should be run by a private service like FEDEX.
It also sounds like you've been unlucky with the USPS - keep after them on those claims. I have heard that they are often slow in paying, but, that as long as the paperwork is filled out properly and you provide the required information, you should be reimbursed. That has also been my (very limited) experience with them. Good luck to you on that.
Mike Printz
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
I was told that Registered Mail is treated the same as cash. Meaning that all shipments are made by via armoured car with fully armed guards. It would be the same as hiring Brinks to ship your coins. Each bundle of packages are locked in a tamper proof carrier and it would take a heist to steal your package. Everything is checked, rechecked and checked a 3rd time.
Michael
See you in Baltimore.
Also, with respect to your comment that the mail service should be run by a private service like FEDEX.
I agree wholeheartedly.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Fedex left a 900.00 coin on my front porch for two days once, never used them since for coins. Now documents on the other hand , great service.
The degree of security given to registered mail is I believe somewhat related to the item's insured value. If you send a $200,000 plus ms65 1893-S Morgan via registered mail it will likely be followed by armed guards in an unmarked car. The surcharge per $1000 for items over $25,000 is to defray the costs of the extra security. Failure to pay this surcharge will result in a denial of liability on the part of the USPS should a claim be filed. Their defense will be "had we known the true value we would have handled it differently." AND YOU WILL BE SOL.
Russ, NCNE
<< <i>For us "small fry" that want to use FedEx or UPS AND insure it, I just came across this Universal Parcel Insurance Coverage site today. If any of you have any feedback on them, I for one would appreciate it. Thanks, Dave >>
They took my money well Used them twice, but never needed a claim.
Jeremy
WH
PCGS last month via FedEx on walkthrough service. The local FedEx office
had no problem in charging me for the insurance. (Oh well; no harm, no foul)
<< <i>Never realized that FedEx didn't insure coins; I sent a 1872-S quarter to
PCGS last month via FedEx on walkthrough service. The local FedEx office
had no problem in charging me for the insurance. (Oh well; no harm, no foul) >>
It's a don't ask, don't tell... they only ask when you want your money... they're happy to take theirs...
We'll use our hands and hearts and if we must we'll use our heads.