us maill Do you mail USPS Priority because of included $100 insurance? 1 1

[Ben Dimhover]

Many people in numismatics mail via USPS Priority Mail because it includes $100 insurance automatically. I’m here to tell you that when it comes to coins and currency, you don’t get what you paid for. I had a claim for missing mail. The stated value was just over $100 and I chose to ship Priority and if a loss occurred, I would only loose the amount over $100. HOW WRONG I WAS. A supervisor for the agent processing my claim referred me to the USPS Domestic Mail Manual dated 4/21/24, Title 609 Section 4.1(m), which states;

“Except for Registered Mail, the maximum indemnity for negotiable items (defined as instruments that can be converted to cash without resort to forgery), currency, or bullion, is $15.00.”

Yes, that quote is the entire item 4.1(m).

They interpret “currency” to include coins. Therefore, even though I paid for $100 included insurance in the price, my claim would only be paid $15.

BEWARE; Only send coins and currency valued over $15 Registered Mail or Registered Mail Restricted (with declared value - that’s the amount of insurance coverage you’ll actually get). Registered Mail is the most secure service out there.

Edited July 18 by Ben Dimhover

[VKurtB]

We mostly all already know this. Alas, NGC itself has discontinued using Registered Mail. A really stupid policy. 

[Numisdoclaw]

I send all coins valued $100 or less via USPS Ground Advantage. It keeps them from potentially getting chewed up in the auto sorters, includes full tracking, and included $100 worth of insurance. Cost is roughly $5.25 up to 18 ounces [the 18 ounces if I recall correctly]

[Ben Dimhover]

@Numisdoclaw just my word of caution if you ever have a claim, when the regulation says “Except for Registered Mail … “ that’s EXACTLY what they mean. Priority Mail also comes with $100 included insurance, but that’s not the case with coins and currency. I think you’ll be disappointed to know/learn that even though Ground Advantage comes with the insurance (just like Priority Mail), USPS will not honor that. The regulation clearly states they will only cover $15 if you ship coins or currency (and if you have a claim you have to provide proof), EXCEPT FOR Registered Mail.

[powermad5000]

On 7/17/2024 at 8:39 PM, Ben Dimhover said:

Only send coins and currency valued over $15 Registered Mail or Registered Mail Restricted

I believe the correct way to tell the worker at the counter the way you want to send it is Domestic Registered Insured. That is how I have always asked the clerk when I come in. Being I have made many submissions over the last decade, they know exactly what am doing when I come in. They even gave me a stack of forms to use so I can fill them out at home to save time at the counter. NGC will still accept them at their facility this way even though they now ship them back FedEx.

USPS Domestic Registered Insured (for those new to the whole thing).