What's the best way to ship high value items?

[gpnyc]

By high value, I mean in excess of the $25,000 limit on USPS Registered Mail. I want to be fully covered against loss.

 

I appreciate any advice I can get on this.

[Coindude]

If it's that much, then I would split the shipment if possible.

[TomB]

At one point Registered allowed you to go to $50k if you filled out additional paperwork, if I recall correctly. Otherwise, split the shipment if possible.

[gmarguli]

Depends on what the actual value is. Are you talking $50K or $5M?

 

There is no insurance over $25K for Registered Mail, but they will accept packages with unlimited value. Easiest thing would be to go Registered Mail and use the insurance of an outside company for the shipment (Lloyds of London does this).

 

FYI, you must declare the whole value on the Registered Mail form if you want to collect anything from the PO if it is lost. If it is valued at $50K and you list $25K on the Registered Mail form with the expectation that the USPS will pay $25K and your insurance policy will pay the other $25K, you're in for a bad surprise. The USPS charges more as a handling fee for packages over $25K.

[MunkyMan95]

If it's a single coin worth in excess of $25,000, try an armored courier service or buy additional insurance. I think some insurance companies insure shipments - perhaps even your homeowners insurance?

[physics-fan3.14]

If the value is significant enough, I would hand deliver it.

[James_OldeTowne]

If the value is significant enough, I would hand deliver it.

Yep. For that matter, you can have a courier hand-deliver it, and I believe you can get pretty much unlimited insurance on it.

[Schatzy]

By high value, I mean in excess of the $25,000 limit on USPS Registered Mail. I want to be fully covered against loss.

 

I appreciate any advice I can get on this.

 

Get on an airplane and meet the buyer at the nearest airport to his house.

[gpnyc]

Thanks to all who replied. Its only about a $50k package and it can be split so that seems to be the easiest approach.

[PerryHall]

If the value is significant enough, I would hand deliver it.

Yep. For that matter, you can have a courier hand-deliver it, and I believe you can get pretty much unlimited insurance on it.

 

Sounds extremely expensive. There must be less expensive ways to securely ship an expensive coin.

[Conder101]

FYI, you must declare the whole value on the Registered Mail form if you want to collect anything from the PO if it is lost. If it is valued at $50K and you list $25K on the Registered Mail form with the expectation that the USPS will pay $25K and your insurance policy will pay the other $25K, you're in for a bad surprise.

But you can insure it for the full amount through the private insurer and collect that way. Yes you won't get a settlement from the Post office but you will still be made whole by the private insurer and you will still be sending it by Registered mail which is what is needed to get the low insurance rate from the private firm. (They KNOW Registered mail is incredibly safe so they know they can keep their rates low without serious risk.)

[James_OldeTowne]

I should mention something anecdotal as well, that will show how much confidence I have in registered shipping. I once shipped an entire collection worthy $80,000, and did it with only $25,000. Needless to say, it got there safely.

[gpnyc]

I should mention something anecdotal as well, that will show how much confidence I have in registered shipping. I once shipped an entire collection worthy $80,000, and did it with only $25,000. Needless to say, it got there safely.

 

I know its the safest way to go. I have been using Registered Mail for years and have never had a problem. I'm just too risk-averse to attempt something like that.

[gmarguli]

While it is extremely safe, they do go missing. Around 20 years ago I had a Registered Mail package to PCGS get lost/stolen. It only had to travel about 50 miles, but never made it.

 

Over the years I've also had multiple Registered packages left in my PO Box and at my home without my signature.

 

[coinman1794]

The Hope Diamond was once sent Registered Mail.

[DC Dawg]

When the Bullion Repository at Fort Knox, Kentucky was opened, the Treasury "mailed" the gold stored in New York and Philadelphia to the facility!

 

Should I leave it there or fill in the rest of the story? Let's leave it there and see what funny anecdotes youse guys come up with!!

 

Scott

[Oldtrader3]

I once sent about $50K in gold coins to an east coast dealer via FEDEX-Overnight. The coins made it fine, even though FEDEX won't insure them. Just make sure that they do not go over a weekend.

[michael]

so the highest you can insure a package with usps is 50k

 

??

how much extra does it cost for the addtiional insurance usps charges over the so called max. limit of 25k ?? i take it there is a large handling fee also??

 

do you put the 50k value right on the form?

 

 

[Conder101]

No the maximum with the USPS is 25K not 50K.

 

The charge for packages over 25K is $46.85 + $1.35 per $1k in declared value over 25K until you reach $15 million in declared value. (Over $15 million there is a big jump in the rate. $15 million is $15,021.85 $15 million and one is $20,263.10 )

 

Rates are shown here

http://www.usps.com/prices/registered-mail-prices.htm

 

But those extra charge DO NOT increase the insurance. They lose your $100K package that you paid the full fees on and they will still only pay you $25K.