Author Topic: Shipping coins during covid  (Read 430 times)

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Offline baron88

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Shipping coins during covid
« on: June 19, 2020, 10:15:51 PM »
Lately I have been experiencing USPS shipping issues. For example a priority mail package shipped from Austin, TX to Houston, TX had been sent to San Francisco, CA, and now still don't know where it is. Tracking just stopped getting new update. Talked to customer service and was told post offices are very short handed right now and mistakes are happening, and “wait another two weeks to see what happens”. Also a First class registered mail package was delivered through a strange route with long delay.

Anybody experiences same issues? And what would be the best way to ship coins right now? Inputs will be greatly appreciated.

Offline hopeusw

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Re: Shipping coins during covid
« Reply #1 on: June 19, 2020, 11:51:59 PM »
Currently it has risks. Our postal office cancelled the requirement of signatures. So all valuable packages will be put in the mailbox directly.

Offline KeyDate1/2ozPandas

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Re: Shipping coins during covid
« Reply #2 on: June 20, 2020, 02:01:57 AM »
Thankfully I haven't had any issues except for the occasional delay due to riots or express package being a day late due to whatever reason.  I have heard many horror stories from dealers about coins being stollen and packages falling off the grid for weeks to months. 

Offline pandamonium

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Re: Shipping coins during covid
« Reply #3 on: June 20, 2020, 07:00:51 AM »
One small package from CA to OR took the scenic tour of CA to PDX (portland OR) back to CA then back to PDX.

Overseas shipping from Europe is about 1 month.


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Offline baron88

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Re: Shipping coins during covid
« Reply #4 on: June 20, 2020, 09:52:40 PM »
Well, I think insurance is now essential; and also proof of value if a claim is needed. Thanks for sharing.

Offline bonke

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Re: Shipping coins during covid
« Reply #5 on: June 21, 2020, 04:09:28 PM »
In May, I sold some gold bullion coins to a major bullion player.  I used their designated shipper and insurance plan to protect my shipment.  The insurance provider had special instructions if my package originated in certain zip codes in New York or Los Angeles.  Also, the insurance provider had special instructions and REQUIRED PERMISSION for packages with a value over $5000 and being sent to two New York zip codes, five Los Angeles zip codes and six Beverly Hills area zip codes.  This seems to imply that there are problems with shipments into and out of parts of New York and southern California.

Fortunately, my shipment did not originate in New York or California and was not destined for New York or California.  It traveled to its destination over night, fully insured and without incident.

Mark Bonke

Offline KeyDate1/2ozPandas

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Re: Shipping coins during covid
« Reply #6 on: June 22, 2020, 02:11:47 AM »
Well, I think insurance is now essential; and also proof of value if a claim is needed. Thanks for sharing.

USPS insurance doesn't cover coins or bullion.  It is a waste of money to buy USPS insurance.  All you need is signature required and private insurance if you want to be protected.  If you don't have private insurance then registered mail with a low declared value is next best option.   Also as Mark mentioned don't ship to certain cities. 

Offline baron88

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Re: Shipping coins during covid
« Reply #7 on: June 22, 2020, 09:39:21 AM »
This is an excerpt from the USPS payable Claim page:

“ - The fair market value for collectible stamps of philatelic value or for coins of numismatic value, determined as follows:
The fair market value is determined by a recognized stamp or coin dealer or current coin and stamp collectors’ newsletters and trade papers.
- The date of the determined fair market value must be the most recent available (but before the mailing date).”

So it looks like coins are covered.

Also, “ For currency or bullion, a maximum of $15”, with the “Exception: For items sent by Registered Mail service, the Postal Service provides payment for the included insurance coverage, based on declared value, up to the maximum amount of $50,000.”

And many major bullion sites are recommending USPS registered mail with full declared value insurance coverage as the safest way to ship.

So I am a bit confused of your statement here.





Exception: For items sent by Registered Mail service, the Postal Service provides payment for the included insurance coverage, based on declared value, up to the maximum amount of $50,000.


Offline KeyDate1/2ozPandas

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Re: Shipping coins during covid
« Reply #8 on: June 22, 2020, 12:02:10 PM »
I know of 7 claims that were denied in the last 3 months.  Some post offices are even denying express guarantee claim, luckily mine still pays them.  Just realize that risk of using USPS insurance for uncertified coins is very high.  A slabbed coin is fine. Most of the claims are for heavy boxes of silver, 10-40 pound boxes which are easily identifiable as metal being shipped.

Today, Paypal took away seller protection for gold bullion sales.  Certified coins still ok, but bullion bar that is not certified is no longer protected per Paypal updated policy.

Offline baron88

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Re: Shipping coins during covid
« Reply #9 on: June 22, 2020, 07:45:09 PM »
All you need is signature required and private insurance if you want to be protected.

Isn't signature requirement suspended due to covid? And which private insurance would you recommend?

For bullion sale, I would try to sell to a local dealer first. That would eliminate shipping risk.

Are those denied claims registered mail loss claims?

Thanks Arif!


Offline KeyDate1/2ozPandas

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Re: Shipping coins during covid
« Reply #10 on: June 23, 2020, 02:04:10 PM »
For many cities the signature is still being taken, it is only hot spots where there is risk of no signature and especially if you use Fed-ex.  Hugh Woods is the best for dealer insurance, they offer protection on shipping, setting up at shows, having a coin shop, traveling to shows, etc. 

There are other companies that cover you just when you ship, I haven't used them for 10 years so I don't know which one is best now. 

I don't know what service people used.  When I send a silver eagle monster box I always double box it and ship registered, it is screaming steal me based on its dense weight.

Offline baron88

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Re: Shipping coins during covid
« Reply #11 on: June 23, 2020, 02:53:59 PM »
Thanks for the information again!

Offline baron88

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Re: Shipping coins during covid
« Reply #12 on: June 30, 2020, 03:45:51 PM »
Just following up with shipping issues, the priority mail package shipped from Austin to me in Houston that was mistakenly sent to San Francisco, was considered lost after I submitted a missing mail search request with the USPS. I then filed a claim (15 days waiting period for priority mail), and uploaded an invoice for proof of value. In 4 days my claim was approved and a check has been mailed to me. They actually added 15% to the total value for compensation.

This is to let the forum members know that as a seller, insurance is important and proof of value is crucial. And USPS does honor valid claims. For high value coins over $1,000, I will always send by registered mail with full insurance for extra security.