I have decided to photologue my coin set for insurance reasons. I have noticed that some members have posted their sets online at web sites such as Omnicoin.com. Can anyone recommend whether or not I should use a site such as omnicoin or should I purchase a coin software program? Thanks.
You don't "need" pics at all for insurance, at least not according to any insurance company I ever talked to about it. In the case of a claim all they want is a written list and receipts.
You mean the ones that went up in flames? I always keep a usb flash stick with my computer's memory off site just for this reason. I have scanned copies of all my important docs on my flash stick, but not of my receipts. Other than original copies of my receipts, I have no other proof of their purchase.... although scanning these wouldn't be a bad idea... just much too time consuming. I have been slowly photologuing my coin collection, so having them saved on disc or flash drive is not the issue, but I would also like a better way to organize the pics. I don't necesarily want to post them on a internet site, but would like a better way to catalogue them. This is why I was leaning toward a coin program software. I always see them advertised, but know nothing about them. Any thoughts.
And you think it would take less time to photograph each coin ? When it comes down to it pics are not proof of ownership, they only mean you have a picture of a coin. You can go and get pics of any coin off the internet - it doesn't prove that you owned the coin. But a receipt does, and that's why all they want is a list and receipts to back it up.
How do I get a receipt for the 1914-D lincoln in XF I found in my pocket change? In other words how do you insure coins for which you don't have a receipt any longer or never did in the first place? -Andy
A good question. About all you could do would be to take the coin to a dealer and have him authenticate and grade the coin for you. Or have a TPG do it. Either way you would have paper proof.
We have had things that were given as gifts appraised by a licensed appraiser. He gave us a piece of paper stating the value of the items. That piece of paper satisfied my insurance man. Good luck.
Personally, I don't like Omnicoin. The coins appear as one long list, without any organized folders or anything. (Hope that helped get us back on topic!)
Unfortunately GDJMSP is correct. If you've ever had one of those fights with an insurance company, you'ld know that. Anything and everything you claim requires proof of some sorts. And even if you have proof that you had such and such coins, they usually want some proof that is was lost in a fire, theft, etc. and not just in a safe deposit box for now. Example if you had a classic car insured and it was wiped out somehow. The insurance company wants proof it was in top shape prior to the insicent. With that one I've been there. As noted a pile of photographs of anything is just a photograph. If they want to be a stickler about it you still have to prove they were all yours and lost now. Then of course they seldom will give you what the lost items are supposed to be worth. This is also why when you insure anything you play their game and insure it for lots more than it is worth. Then they actually give you what it is worth if they want to that is. Ever watch the Antique Road Show? Item is said to be worth xxx and they tell the owners to insure it for xxx+ for that reason. My biggest concern is what you tell an insurance company is like advertising what you own. Be carefull.
Thanks everyone for getting back with me. These are the types of answers and opinions that I am looking for. I am taking the pictures not only for insurance reasons, but to also have a personal photo collection of my coins. Fortunately, one of my best friends owns the Erie Insurance branch here in my town and that is who I am through. I have discussed my collection with them and we are looking into insurance for them. Taking pictures is time consuming, but actually it is relaxing to me. Helps pass the time when I am not buying coins. Jack, I will look into Coin Manage. Thanks again. If anyone has any other programs they recommend, please share.
As to coin collecting programs I suggest just using Excel. It is basically universal and you will not have to have a special program in someone's computer to use it. Note if you tabulate everything on a special program and take it to your insurance agent, unless he has that program, your documentation may be useless. Almost everyone on Earth has Excel I think. Not sure about the Aborigines in Australia though.
Jace there must be a 100 threads here about coin software. Just do a search and you will find more than you want to read.
