Coin shipping

[bpeaslee]

I expect that most of you know this. But I hope it helps someone.

I just sent some gold coins to NGC for grading and was going to send it priority mail insured for $5,000.00. The postal clerk quoted me $72.00 for the postal fee. I asked him if there was a cheaper way and he told me that registered might be cheaper. He checked and found that registered mail with $5,000.00 insurance was only $28.00, a swing of $44.00. He could not offer any explanation of why there was such a difference between the two. I expect that the reason is that the registered mail has a chain of custody, whereas the priority mail is massed with other packages so has more chance of being lost.

 

Hope it helps

[Conder101]

Exactly. Registered is safer so the insurance rates are much lower. But because of the Registered mail base fee it doesn't become cheaper than priority insured until around $800 - $1000 in declared value. The trade off for the safety and lower cost is slower delivery. But personally I' never in THAT much of a hurry, So I would go with safer and cheaper personally.

[messydesk]

Yup. Registered is much safer than regular Priority. The unofficial nickname for the insurance sticker on a package is a "steal me" sticker. Registered mail has a detailed chain of custody, meaning a thief inside the USPS is far more likely to get caught stealing registered mail than priority mail. This is reflected in your insurance premium.

[wdrob]

 

The unofficial nickname for the insurance sticker on a package is a "steal me" sticker. Registered mail has a detailed chain of custody, meaning a thief inside the USPS is far more likely to get caught stealing registered mail than priority mail.

 

That has always been my thoughts on that as well. It just seems like common sense that anyone dishonest will search out the insured priority mail packages.

 

I have never shipped anything with insurance * unless * it is far more valuable than I am able to easily reimburse out of pocket at any given time.

 

 

[Mr. Smith Guesser]

I expect that most of you know this. But I hope it helps someone.

I just sent some gold coins to NGC for grading and was going to send it priority mail insured for $5,000.00. The postal clerk quoted me $72.00 for the postal fee. I asked him if there was a cheaper way and he told me that registered might be cheaper. He checked and found that registered mail with $5,000.00 insurance was only $28.00, a swing of $44.00. He could not offer any explanation of why there was such a difference between the two. I expect that the reason is that the registered mail has a chain of custody, whereas the priority mail is massed with other packages so has more chance of being lost.

 

Hope it helps

 

$72.00 for Priority Mail is way overpriced. The USPS has flat-rate Priority boxes with the largest box costing $17.90. And it's pretty unlikely that you'll need the largest box. You can fit a winter coat in that thing.

 

But pricing is a problem with the USPS. I've taken packages that are the same size and weight to the same USPS office on different days and have gotten two different prices. Not long ago I shipped a single raw Washington quarter in a 6x9 manilla envelope and shipping was $1.90something. A few days later I took another 6x9 manilla envelope, again with a single raw Washington quarter in it, but this time the postage was $0.70. It's like the shipping price depends on who's working the desk.

[Nutmeg Coin]

If you have a usps corporate account the express shipping costs are less for insurance. Alternatively you could try numismatic insurance through the ANA, at reduced rates. Think like the thieves and what they would be looking for.

[Conder101]

$72.00 for Priority Mail is way overpriced. The USPS has flat-rate Priority boxes with the largest box costing $17.90. And it's pretty unlikely that you'll need the largest box. You can fit a winter coat in that thing.

It's the $5,000 declared value insurance that made it cost so much According to the insurance rates in the Domestic Mail Manual the cost of the insurance is for $5,000 on a priority mail package is $9.25 plus $1.25 for every $100 in declared value over $600. So that would be

 

$9.25 + (1.25 * 44) = $64.25

 

And to that you would have to add the priority mail postage as well ($5,95 for a small flat rate box). So that would bring it up to $70.20

 

If you sent it Priority Express the the insurance cost drops to $17.45, but the postage cost goes way up $20 for a flat rate envelope to $45 for a flat rate box. So Priority Express insured would be cheaper than Priority insured, $37 or $62.45 instead of $72. But Registered at $28 still has it beat.

[Nutmeg Coin]

I never pay more than $40 for usps express with the box option. If you get a corporate express account discount is 10%. Plus with the guarantee next day, if they screw up and deliver in two days you get your money back, and many of their expresses have been running two days in the last few months.

[jom]

I try to avoid Priority mail with insurance because of the "steal me" label.

 

I've done one of three things in the past:

 

1) Have ANA insurance and then send Priority. No label of course.

 

2) Self-insure if I don't have happen to have ANA insurance. Obviously no label.

 

3) Registered. At least there is a chain of custody. I'd try to get > $1000 worth per box.

 

jom

[wheat'swheats]

I ship priority mail but use ship and insure for insurance thus no steal me labels

[coinman_23885]

Yup. Registered is much safer than regular Priority. The unofficial nickname for the insurance sticker on a package is a "steal me" sticker. Registered mail has a detailed chain of custody, meaning a thief inside the USPS is far more likely to get caught stealing registered mail than priority mail. This is reflected in your insurance premium.

 

Agreed and this is why I no longer use USPS insurance. You can obtain a private policy and cover the coins for much less. Under my current carrier, I pay $40 a year membership fee (which has perks beyond insurance) and no more than $0.25 per $100 insured value (depends on the method sent). And it can be sent however I please as long as it requires a signature (and First Class Mail is excepted).

 

[MarkW]

Do you mean "excepted" or "accepted"?

[coinman_23885]

Do you mean "excepted" or "accepted"?

 

Excepted; the policy excludes First Class Mail shipments.