It seems like any time someone blinks "authorities" are trying to seize ancient coins and artifacts. Here is the most recent story involving a bronze Roman statue owned by the Cleveland Museum. At this rate our museums will soon be empty: https://www.cnn.com/style/cleveland-museum-art-statue-seizure/index.html and another regarding rare coins: https://www.foxnews.com/media/fbi-sued-allegedly-losing-hundreds-thousands-rare-coins-during-raid
That is sick, but judging to Wray's attitude with Congress, he believes his agents are above the law. He doesn't provide documents they requested and doesn't answer subpoenas. Congress is so screwed up now, there may be more civil unrest.
I've been looking at the entries on YouTube and it seems that the Feds are hitting more and more non-bank safety deposit boxes. After I read the article, I spoke to the manager of our credit union and was told that my collection was covered by their insurance. Any chance that home owners insurance would cover my collection as well? I don't have a lot, but the collection I have came from my father's collection plus my own meager collection.
I have a rider to my homowners insurance to cover my coin and gun collections. It costs a bit more, but the alternative is unthinkable.
I'm not going to speak on the FBI happenstance because that sounds like genuine incompetence. However, regarding the statue - the last time I checked Turkey was a sovereign nation state with its own laws and ordinances. These stand enshrined and upheld by the international community (including the USA). If that statue was indeed looted from there in contravention of laws which stood at the time and sold to the museum illegally then it should be returned to Turkey. This is morally the correct thing to do, if the point can be proved beyond question. Remember, this is a country whose cultural heritage has suffered enormously from external factors - I need only remind members of the existence of the Pergamon Museum in Berlin. It is interesting to see how Cleveland Museum has apparently begun walking back previously long-held claims about its origin. Perhaps a sudden, cold chill of dread down the spine?
The same thing happened at a local museum with some Greek, Egyptian, and Asian artifacts. However they were able to prove that all the artifacts in question were purchased legally.
I tried to add a floater policy for my coins but my insurance company will not cover them without an "expert" appraised value from a recognized price guide (i.e. Red Book or similar). I tried to explain that these were ancient coins and therefore no such price guide exist. So I researched "coin insurance" but it is expensive and cumbersome. Most companies charge 10% or more of the purchase price of the coins and you have to submit purchase documents within 7-10 days of the purchase. So I would be constantly uploading documents to the insurance company. If you don't mind me asking what insurance company are you using.
Yes thanks for reminding me, I forgot about the "perks" under my memberships. I have current memberships with NGC, ANA, ANS, and ACCG. Here are a list of the coin insurance companies I found: American Collectors Insurance https://americancollectors.com/insurance/collectibles/coins/ Collectibles Insurance Services https://collectinsure.com/ HW Wood International https://hwinternational.com/us/
That's who I use for all my insurance and they gave me a hard time about adding the floater. I just submitted an application to Hugh Wood (HW) as the are associated with ANA and therefore give members a group rate discount. I'm waiting to see what the quote is. Just got the insurance quote back its only 0.00352 per every $1000 coverage, that's ridiculously cheap. In addition they don't require any documents to be uploaded or maintained unless you file a claim. Basically it's your responsibility to keep track of everything and place a value on your collection. I typically at 10-15% onto the coverage to compensate for any discrepancies.
