Curiosity ? - what value are coins insured for on the return trip home from a TPG?
tydye
Posts: 3,894 ✭✭✭
Lets say I submit and insure a coin to a TPG for $500. And I am assuming it grades out at MS65 worth about $500. Now what happens if it grades MS67 for instance ( assume I am a lousy grader) and is now worth 2K according to the grading company. Do they insure it for 2K on the return trip home or $500. What if the post office lost it?
I did not have a package lost but recently I submitted something that came back much higher than I had hoped. When I saw it hit on the website - I waited anxiously for it to come home. It took a while. I would call home everyday from work asking my wife if it arrived. The one day she mentioned - I hope they did not lose it. I told her told worry it is registered insured but then I thought - I only insured it for x amount. I wonder if it did get lost would it be x or x +. Also to play devils advocate. What would it be insured at if it graded lower and is now worth less than x according to the TPG.
I did not have a package lost but recently I submitted something that came back much higher than I had hoped. When I saw it hit on the website - I waited anxiously for it to come home. It took a while. I would call home everyday from work asking my wife if it arrived. The one day she mentioned - I hope they did not lose it. I told her told worry it is registered insured but then I thought - I only insured it for x amount. I wonder if it did get lost would it be x or x +. Also to play devils advocate. What would it be insured at if it graded lower and is now worth less than x according to the TPG.
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Comments
Russ, NCNE
You have to declare what you think the coin is worth and you have to pay the shipping costs up front. That way, if the coin is lost upon return, you get what you said it's worth.
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
<< <i>You have to declare what you think the coin is worth and you have to pay the shipping costs up front. That way, if the coin is lost upon return, you get what you said it's worth. >>
that sounds pretty clear, curly. one might say it's "curly clear"
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i> Do you honestly believe that the TPG's could/would suffer the publicity for an underinsured loss? >>
Depends if the coin is worth $50,000 (would not allow to suffer bad publicity) or $500 (would allow because the only one who would care is the submitter).
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry