Shipping a Large Collection - Who to use?

If you don't have private insurance, use USPS registered mail. It is without doubt the safest way, probably safer than hand delivering. My private insurance company charges the least by far per $100 of value for registered mail. Pay close attention to the packaging requirements at usps.com. You can insure registered mail up to $50k. I recommend private insurance though. Hugh Wood is good for overall coverage including shipping. If you just want shipping insurance and are a member of ANA, you can join North American Collectibles Association (NACA) and then use Ship and Insure.

Cal

 

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It's beyond my comprehension why you would suggest having 2 expensive security/insurance systems, especially when it appears you don't understand how registered mail is handled.

Here's what people should know about "registered mail":
What are the characteristics of Registered Mail and Registered Mail Restricted Delivery?

The most secure United States Postal Service® mail service (protected by safes, cages, sealed containers, locks, and keys).

• Must be presented to a retail employee or rural carrier.
• Requires a signature upon delivery.
• Mailers using Registered Mail Restricted Delivery can direct delivery only to the addressee (or addressee's authorized agent).
• Delivery information provides delivery status or attempted delivery status when the item reaches its destination. Tracking is not provided as the item is en route to its destination.
• Registered Mail can be sent to military locations. However, delivery information is not available for items destined to an APO / FPO / DPO.
• A system of receipts is provided to monitor movement of mail from the point of acceptance to delivery. These receipts are not readily available and can only be accessed by initiating a claims form, which cannot be completed by phone.

I lost a very expensive shipment of coins through this abnormal system where the devious delivery path, used a slow moving ship to send the shipment overseas where it became "lost", with no means of tracking.

A postmaster quit (retired) her job after trying unsuccessfully to determine the shipments' location on a stalled ship.

This information is "hearsay" as received from a USPS Manager after the shipment was delivered!

 

I’d check with the auction house first. If you ship USPS I’d only ship it with Registered Mail. It’s more costly but it’s much safer.

 

I have shipped high value coins via FedEx. They offer priority high value shipping that is quite secure, and requires hand to hand pickup and delivery. I would definitely NOT use USPS. I could get into horror stories, but suffice to say, the Post Office is the least secure shipper. FedEx high value shipping is not cheap, but is reliable, and offers actual value insurance.

 

Did you have private insurance that requires Fedex? If not, I suggest you read the fine print before you ship next time. Coins are NOT covered under Fedex's high value jewelry program and you will be SOL if something happens.

 

I have to disagree that HWI is a sensible option here. As I previously noted, I have insurance through HWI and its great. With that being said, in order to be covered for shipping you need to be covered under the GOLD tier. The bronze tier is relatively inexpensive but covered your holdings at your house, SDB, or transporting between those two locations. Gold tier coverage is very expensive, and I think it would cost at least $300-$400 for 30k, which makes no sense since you'd be paying an annual rate for a years worth of coverage when you're about to sell the coins.

I suspect this whole thread will be moot if you simply ask Ian, for a 30k consignment I don't see why he just provide a label with instructions. If not, you can ship registered mail and use USPS insurance which goes up to 50k, not 5k like a previous comment stated. It will take a couple weeks to get there but it will be fine. The loss rate of registered mail is almost non existent in comparison to PM, PME, or Fedex. The package has to travel with a verifiable chain of custody and a signature at every hand off. I personally am disconnected from the idea of flying to Cali for a 30k package, that sounds like a colossal waste of resources but if it makes you feel more comfortable have at it.

The reason Silverpop is so averse to shipping anything is because he got flamed on the CU boards for selling another member a $60 or $70 coin that got lost in the mail. He used the cheapest shipping option (first class) and was too cheap to add insurance, or just pay for priority mail rate which comes with $100 standard insurance. Then, he refused to reimburse the buyer of the coin and got called out into oblivion. Don't be like Silverpop, insure your package and you dont need to "expect the worst" lol.

 

And by the way, UPS does not cover coins either. Both Fedex and UPS will gladly take your money if you declare the value but neither will compensate you in the case of a loss of numismatic coins. The shippers who use those private services have private insurance that specifies what services are covered. The ONLY company that will actually cover coins is USPS, and even then it would be a PITA to collect on a claim. Hence why I recommend to only use registered if Ian doesn't provide a label.

 

I had supplemented insurance, that was offered by the shipper, under a third party. It amends the FedEx insurance, specifically, to cover coins. When I sold my 1893s, it was covered by the third party policy. It was offered by the shipping store that I use, all the time, and the policy specifically does cover coins.

 

Understood, but you had neglected to mention that it was supplemental and offered by a third party in your previous comment. That’s an important detail, because the typical insurance offered through FedEx does not cover coins.

 

All FedEx stores offer some sort of supplemental coin high value insurance. If I forgot to mention that, mea culpa. I’ve shipped many high value coins over the years, and always use FedEx.

 

If you want shipping insurance, join N. America Collectors Assoc. Dues are $135 per year. The insurance rate chart is below. Few things about the chart. Rates are cheaper than USPS insurance. The rates also reflect the risk of loss. The cheapest rate is for USPS registered mail because packages shipped that way are seldom lost. Also notice there is a large array of shipping options. Something not mentioned in the chart is that to get coverage on a package, you are required to enter a big fat zero for value on the carrier forms and not indicate in any way that the package is insured. This means the package becomes much less attractive to thieves. The stated value is zero, so if they have a choice, the thief will take a different package.

Cal

 

Just make sure thieves aren't the one who're actually receiving the safe & insured shipment.

 

Words to live by!

 

I made several shipments larger than that when I was in the business. I used USPS Registered Mail. Max insurance value per shipment is 25K, so I divided the shipment into several packages, packed them securely, and handed them over the counter at my local post office. All went without any problems at all.

 

I've not dealt with high expense items, but have been told my local UPS that they won't ship coins or currency.They state company policy, so not sure about that. USPS insurance, like a lot of insurance companies, will fight you tooth and nail to pay off a policy and demand proof of value by well known appraisers, so good luck on that.
Heritage and Stack's Bowers have offices within a drive from you, and even offer to come to you (I assume you would have to have a valuable collection) for free assessments.
I would definitely contact Great Collections and see what kind of a deal you can work out.
Good luck and let us know how that works out.

 

Kanga...I'll see you Friday at our normal watering hole. A lot of people here have a lot of opinions. I think I can help you sort this all out.

 

I've sold 3 consignments through GC this year. I used the USPS for all consignments and used their insurance. I could have sent them all at once but decided to break the lot up instead of selling them all at once. One consignment consisted of 120 coins so GC split up the lots with 90 one week and the remaining 30 the next. I'm not sure what their policy is; whether they limit the number of items from a client to 90 per auction. The total I received for the three groups was around 25K (that was after seller fees) so the value of the group seems similar to yours. I have to add that I was very pleased with the strong bids on most of my items!

 

I’ve sold coins via GC before and sent in a number of lots including some coins that were duplicates. In one case, they spread the selling over 3 auctions several weeks apart. The duplicates were in different auctions. I think they do it this way because if multiples of the same coin type appear in the same auction, the average bid per coin will be lower than if there was only one coin of the type per auction. It’s a favor to consignors.

Cal

 

Road trip!