Curious to know what sale price do you consider buying insurance when you ship? I just sold one at $99.99 and figured if it got lost, the $1.70 of insurance would be worth it, definatly on higher amounts. What say you?
I insure all coins for full value, and negotiate the cost of insurance in the offer price for the coin. If I sell a coin, I want the buyer and myself satisfied and protected.
No one ever wants to take a loss and if the loss would cause hardship it's best to insure. For my sales I insure everything above $200 and send Registered Mail above $1000 Everything under $200 I self insure. roll the dice I have had few problems insured or otherwise and feel like I am ahead of the insurance game.
The latest published CAC retail price, regardless of whether it has a CAC acknowledgement, or not. Example: I buy a 1915D Buffalo Nickel in MS65 for $1,050.00. This is the Greysheet Wholesale price. The Greysheet wholesale CAC price is $1200.00. The CAC retail price is $1500.00. So......
I have heard horror stories of packages with heavy insurance getting "damaged" along the way and the contents disappearing. I haven't sold any high value coins, however I have sent plenty of them for a variety of other reasons. I accept the risk under $1000.00 and I purchase the added insurance over $1000.00.... However I did recently send a St. Gaudens to CAC without insurance..... I like to live dangerously... But in all seriousness. I think the added insurance is a tip-off to ner' do wells of the world.
It is always an individual choice, but there are outstanding private insurers for collectors ( 1 that I prefer) and @ very competitive prices. Tipoff or not, living dangerously or not, the replacement cost without insurance is 2 punches in the mouth. It does not have to address the selling aspect concerning the insurance. It is the replacement cost aspect. Market acceptable pieces of all types are becoming much more difficult to acquire, whether a $30.00 or $300,000.00 piece. Would a person ship their auto across country without insurance (not even if it is a Yugo...it is surprising what an original goes for if you can find one).
A side comment. Was your sale on eBay? If so, did you use the default insurance? That insurance last I knew does NOT cover collectible coins nor stamps. You have to select the other option, USPS insurance (which is more expensive). So if there hasn't been a change, your $1.70 was wasted. Oh, and to respond to your original question, $50 is my breaking point for insuring items.
I jus I just saw the default insurance has a drop down menu and it lets me choose USPS, which is hidden if you did not know, thanks for the tip!
