What mail delivery service and delivery option do you use to insure $50k+ in coins?
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1) For those of you with experience shipping/mailing $50k+ in coins, what mail service have you used (USPS, FedEx, other)?
2) And what type of delivery option have you used (Registered, Over-Night, etc)?
3) And, how do you go about insuring such a package for such a high amount while in-transit?
(Follow-up to #3: would it really cost $100+ in insurance at USPS or other mail delivery service?)
(Edited to add: I know FedEx won't allow you to insure any collectible, etc for more than $1,000!)
2) And what type of delivery option have you used (Registered, Over-Night, etc)?
3) And, how do you go about insuring such a package for such a high amount while in-transit?
(Follow-up to #3: would it really cost $100+ in insurance at USPS or other mail delivery service?)
(Edited to add: I know FedEx won't allow you to insure any collectible, etc for more than $1,000!)
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edited to add... hit submit too soon. To get more coverage, you'd need to use some sort of private insurance.
<< <i>USPS will only insure up to $25,000.00. >>
I thought it was only that much.
So, do can I go through private insurance when sending a package?
I don't have the time or chance to attend a major show to hand-deliver the coin(s) in the time desired to get the coin(s) graded.
<< <i>I'm particularly talking about sending a valuable coin(s) to PCGS for a submission. >>
Can the shipments be broken down into $25k or less valued packages, or do you have a coin which, by itself, exceeds that amount? If the latter, I don't know what to suggest.
<< <i>
<< <i>I'm particularly talking about sending a valuable coin(s) to PCGS for a submission. >>
Can the shipments be broken down into $25k or less valued packages, or do you have a coin which, by itself, exceeds that amount? If the latter, I don't know what to suggest. >>
There is at least one coin in the submission which is definitely valued above the $25k mark (around $40k), and $50k was just to play it safe on insurance.
<< <i>There is at least one coin in the submission which is definitely valued above the $25k mark (around $40k), and $50k was just to play it safe on insurance. >>
Don't know what to suggest- sorry. If it helps (I'm sure it doesn't) registered mail just about never gets lost. I don't know that I'd risk it myself, though.
<< <i>
<< <i>There is at least one coin in the submission which is definitely valued above the $25k mark (around $40k), and $50k was just to play it safe on insurance. >>
Don't know what to suggest- sorry. If it helps (I'm sure it doesn't) registered mail just about never gets lost. I don't know that I'd risk it myself, though. >>
Yeh, I know registered is very safe, but I can't take the chance, nor afford the value difference, if the package does get lost.
I do appreciate the help
Just Google "shipping insurance" and you will see a host of companies. Better yet call PCGS directly as they deal with it all the time and they can point you in the right direction.
USPS insures up to $25K..but accepts third party insurers for the excess.
USPS charges a handling fee for the excess, up to the cost of providing armed guards.
For expensive items (other than courier) its the only show.
We've never attempeted to ship one out ourselves however.
<< <i>$50K+..ship Registered.
USPS insures up to $25K..but accepts third party insurers for the excess.
USPS charges a handling fee for the excess, up to the cost of providing armed guards.
For expensive items (other than courier) its the only show. >>
USPS doesn't "accept" 3rd party insurers. 3rd party insurers do not want you to let the carrier know that it is 3rd party insured.
I use www.parcelpro.com for my high value packages. they have me ship via fedex or UPS for high value packages.
You ship the way your insurer tells you. Nothing else.
--Jerry
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>A $50k package insured is less than $100, probably closer to $50. --Jerry >>
Depends on who you use to mail the package. USPS registered is only 25k, if you have over 50k in coins you need three packages.
That is who PCGS uses after they take in a huge number of submissions at a show.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
what about if you put 2 registered stickers on one package each insured $25,000?
<< <i>
<< <i>$50K+..ship Registered.
USPS insures up to $25K..but accepts third party insurers for the excess.
USPS charges a handling fee for the excess, up to the cost of providing armed guards.
For expensive items (other than courier) its the only show. >>
USPS doesn't "accept" 3rd party insurers.
--Jerry >>
That's why its 3rd party.
<< <i>Registered mail can be insured up to $25,000.
what about if you put 2 registered stickers on one package each insured $25,000? >>
The USPS insures registered for $25K max. They charge a fee per $1,000 for any thing over that. The fee is for extra security. You must declare and pay the fee cuz if the package shud get lost they will reject your entire claim and you will be SOL. They essentially guarantee delivery. So it really depends on which is more important, speed of delivery or security.
Register with a third party insurance company.
I use 'ParcelPro'. www.parcelpro.com
You can ship and have it fully insured for any amount.
You have to ship overnight Fedex and ParcelPro will insure it.
There's paper work involved and shipping is not as cheap as Registered, but it's 100% insured.
I've never shipped coins for this amount, but I used to work in the Diamond trade and we used to ship diamonds all over North America and our largest item was about $200,000.00.
ParcelPro are definitely 'Pros' and will look after your shipment with peace of mind.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)