Would that mean if you lost your coins in shipment that they could refuse payment because you failed to be truthful about what you were shipping or what was being shipped to you.
Most likely you would be out of luck because they would ask what you were insuring and their insurer has a wimp clause that says no precious metals are covered. Other thoughts: I send parcels express, where a day can pass before the parcel gets scanned in. I have brought this to the attention of customer service and of course they cannot help me, just say that it is in transit. I doubt insuring for $250 or more gives me more tracking power if express does not give mandatory tracking either. With an external private insurer, you have to enter salient details on the parcel, plus a tracking number. Does this mean you have to buy the USPS minimum insurance if you are shipping from A to B??? Otherwise what will the private insurer have to go on in terms of some number in their system that tells them the parcel has been delivered? I doubt delivery notification is sufficient.
Ive had the USPS lose a package before. It was not a really big deal as it was just a $5 thing. But the fact they lost something at all was kind of pathetic.
BTW guys if you want to safely ship something you just send it registered mail. It can take awhile to do but its the most safe way to send valuables ever. Yes you can send coins or bullion doing it. For those who are not quite sure what registered mail is, you basically put everything in a sealed box. The box is only handled by one member of the post office at any given time and each handler must sign for the package. Because the package is so meticulously handled and they know who had it every step of the way the items are very secure.
I shipped a package last week insured for $4000.00. I decided to pay an extra couple of bucks for the signature confirmation reciept. I got the signature card before the package showed on the tracking system. so much for tracking on insured packages.
I agree with both things. Problem is, the people who work at the Post Office don't understand or know how to interpret their own regulations. Of course the same thing goes for the customers who are mailing and insuring coins. And THAT is the issue. You can have all the regulations in the world, but if you do not know how to correctly interpret those regulations and understand what they really mean - then things become one big mess. No, it doesn't mean that, but there are there are times when it can mean that. It depends in the situation and the actual facts and circumstances of each individual instance. Examples - I bought a coin from a dealer via his web page. Paid for the coin, paid for shipping and insurance. After a period of time the coin never arrived. I waited the requisite 30 days and had the shipper file an insurance claim. That right there is something most people don't understand. It is the shipper, the person who mailed the package that has to file the claim, not the person who was to receive the package. But once the claim is filed, then the receiver has to fill out forms as well. Anyway, the item, the coin was accurately described in the paper work, the value was stated (what I paid for it), and the claim was paid. They, the Post Office, mailed me a check. However, there are other scenarios where a claim would not be paid. But instead you would be refunded the cost of the insurance. Say you as a collector have a raw coin that you got out of a roll or found in change. You have no receipt for that coin if you found it in change or out of a roll. But you think the coin the coin is an MS69, or some valuable variety, so you send it to one of the TPGs to have it graded. If you are right and the coin is graded as MS69, or attributed as the variety, then it would indeed be worth X number of dollars and you insure it for such. But on the way your package gets lost, it never gets to the TPG. So after the 30 days you file a claim. In the claim you have to describe the coin. You say it's a 1969 Lincoln sent MS69, or some DDO or DDR - whatever. And maybe it even is. But the Post Office doesn't know it is, and you can't prove that it is/was. You have no receipt showing how much you paid for the coin. You have nothing to prove what the coin was except your word. Well, the Post Office is not going to take your word, they would be fools if they did. And they will not pay the claim. You will get your insurance fees refunded and that's it.
