Even my house insurance company takes a swipe at Moderns......
Longacre
Posts: 16,717 ✭✭✭
I got the policy renewal for my house insurance yesterday. I think I am the only person in the world who actually reads the policy, so I was taking a look through it last night. As part of the package, they ask if you want to schedule any items separately and get insurance on those rider items. They had the usual suspects-- fine art, unique heirlooms, jewelry, etc.
Then they got to the coins section of the riders. The title of the rider was (and I quote exactly): "Rare Coins and Current Coins". I was floored. Obviously even the insurance company (in this case, is was Amica Insurance) knows the difference between excessively rare coins, and then "current coins", which is just another term for Moderns. If the insurance company thought that all coins were equal, then they would not have broken the schedule up between the clearly rare coins, and the current/modern variety.
I just thought it was funny that even an insurance company takes a swipe at the Moderns.
Then they got to the coins section of the riders. The title of the rider was (and I quote exactly): "Rare Coins and Current Coins". I was floored. Obviously even the insurance company (in this case, is was Amica Insurance) knows the difference between excessively rare coins, and then "current coins", which is just another term for Moderns. If the insurance company thought that all coins were equal, then they would not have broken the schedule up between the clearly rare coins, and the current/modern variety.
I just thought it was funny that even an insurance company takes a swipe at the Moderns.
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
to them.
are you surprised? PCGS own coin loan service will only loan 80% of the BULLION value of modern coins, not their PCGS book value like with classic coins. If PCGS doesn't believe in the long-term "value" of these, why should insurance companies
they'd probably serve you better if they stuck to just plain old appraised value insuring, sort of like the way they insure jewely regrardless of its age. what would they say if you wanted to insure that Cheerios Dollar for $10k but only $480 for the 1820 Large Cent??
which was only like $150-$200 per year anyway. NO ONE read the policy. I was a TV Production major
and the school would let you check out their equipment for class, etc. It was very common to check out
10 grand or more in equipment for the weekend. Well, you were responsible for it of course.
I was the first to notice the extra insurance policy stated that it covered "All items and equipment loaned to
you by the school for your academic studies" or something to that effect. After that, they started calling the
insurance policy by my name and everyone signed up for it
That reminds me, I've added a lot to my collection since I got serious again in the last year. I need to check
with my insurance again! Good day to all
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<< <i>If the insurance company thought that all coins were equal, then they would not have broken the schedule up between the clearly rare coins, and the current/modern variety.
>>
Some moderns are clearly rare.
I'm not certain that this is necessarily "modern bashing". Yes, there's a lot going
on and even Congress has considered two bills in my lifetime that were modern
bashing. (the first would simply have outlawed collecting modern coins)
By "current" they might be referring to coins with only face value or silver metallic
value.
It's unlikely the insurance company knows to slam only coins made after 1934 or
1965. To them a 1992 cent is no more "current" than an 1877 cent.
Perceptions really do follow from beliefs. That you see this as bashing, though,
might show you're getting better.