Expensive coins.

[PQSeated]

How do online dealers that have coins valued at over $25,000, send those coins to the buyers? The USPS will only pay up to a maximum of $25,000 if an item gets lost.

[EVillageProwler]

Heritage uses FedEx most of the time. Perhaps that is an option?

 

EVP

 

[PQSeated]

What's the maximum Fedex will reimburse you for?

[keithdagen]

Most large companies will use private insurance to cover the difference between the actual value of a piece and the max covered by the courier.

[gmarguli]

FedEx will give you ZERO back if you ship a coin with them. They are not covered. In fact, they are specifically excluded.

 

Most dealers have an outside insurance carrier. They send the coin FedEx (or registered mail) and insure the coin with XYZ Insurance Company for its actual value. It can actually be much cheaper to insure with an outside company.

[BankNote1]

I get a lot of stuff priority and express mail. I am sure that the companies are using private insurance. The post office will register a package for more than $25K, if my memory serves me correctly.

[PQSeated]

Yes, you can register a package for as much as you want. However, if you read the fine print, they will only reimburse you for a maximum $25,000 if the package is lost. I find that to be kind of redundant. If you register and send a package for say $100,000, if it gets lost they will only pay you $25,000. Yet you pay a lot more to send the $100,000 package out for the same benefits as the $25,000 package.

[BankNote1]

Thanks for the info! I guess I need to read the fine print! That is a strange way to do things, but the P.O. does some strange things.

[paigow_johnny]

A lot of the big boys have private insurance...I think that's how Heritage does it...

[clackamas-migration]

FedEx won't insure coins. In fact Coins are part "banned" and if FedEx know the package contains coins will refuse to send it. With all that siad I still use them over the USPS and certainly over UPS.

[Bob Flaminio]

If I ever bought a coin for $25K+, I think I'd fly over and pick it up personally.