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Do you guys adjust insurance costs?

Started by JOBESSI,

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JOBESSI

JOBESSI

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Posted

Say we submit a coin, and miss on the stated value for insurance. Do you guys adjust the final bill to fit the coin's true value?

 

(Ie. I state in the form that a coin is worth $1700.00,with an insurance cost of $25 but it grades at a Value of $900 and the cost of insurance is now $16, what do I get charged for in insurance fees.)

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Max Spiegel

Max Spiegel

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Thank you for your question.

 

Since NGC does not appraise the value of coins we will not adjust the insurance when the coin is graded. In rare cases, when the tier selected in wrong (especially if the coin is clearly too valuable for the tier, but also when it appears a higher tier was mistakenly chosen) we will contact the submitter to make a change. However, it is a good idea (safer) to put a higher insurance value than to under insure the coin.

 

To get an idea of the insurance value to use, please consult the NGC Coin Price Guide.

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