Alert - Coins Stolen in FEDEX Transit

Discussion in 'US Coins Forum' started by ToughCOINS, Nov 26, 2022.

  1. ToughCOINS

    ToughCOINS Dealer Member Moderator

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  3. PlanoSteve

    PlanoSteve Well-Known Member

    I get it, one should be able to make such a shipment & expect it to reach its destination. But it still amazes me that someone would put that many in one package (without a personal escort), regardless of the service used. Just sayin'...:jawdrop:
  4. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Wow, that is one tragic loss.
    I'd give my eye teeth for just about any one of those coins. To lose a collection like that is mind numbing.
  5. Publius2

    Publius2 Well-Known Member

    @ToughCOINS I hope that wasn't your shipment. But to a prior poster's comment about the value of the shipment, this kind of coin shipment is not uncommon. Tens of thousands of dollars worth of stuff is being shipped all the time, mostly with no problems. But when one goes missing, it's newsworthy because it is kinda rare.
    Tall Paul likes this.
  6. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    How much are those coins worth ? Tens of thousands or hundreds of thousands ?

    Wouldn't the tracking be of use ?

    And why doesn't FedX and UPS have tamper-proof shipping containers maybe with RFIDs or other microchip tracking or something ? We are using the same technology we had in the 1970's for expensive packages, except now you can track your package getting lost online. :mad:
    Gallienus and Tall Paul like this.
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Since these UPS / FEDEX / USPS thefts seem to quietly disappear into history, I surmise that someone is buying these coins up on the sly. . . . I'd give my eye teeth to see the Fence(s) identified, prosecuted, convicted and imprisoned.

    KBBPLL Well-Known Member

    I hope the thief is stupid, because many of them have images.
    ZoidMeister likes this.

    KBBPLL Well-Known Member

  10. KBBPLL

    KBBPLL Well-Known Member

  11. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    That sucks those are amazing coins.
    SensibleSal66 and GoldFinger1969 like this.
  12. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    One, are they aware of the contents ? If no leads from the addresses or names, are they using an X-Ray machine to see the contents ?:mad:

    Two, why isn't the FBI doing some stings ? Why aren't FedX and UPS for that matter ? :mad:
  13. KBBPLL

    KBBPLL Well-Known Member

    Just a hunch, but I'm guessing they can see what it's insured for and have no clue what's actually in there. It's difficult for me to envision a scenario where they're able to grab a specific package out of the millions that pass through because they know what's specifically inside. What's interesting is that the empty package arrived. I'm not sure what to make of that.
    ToughCOINS and GoldFinger1969 like this.
  14. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    You can Google any address on a smartphone and see if it comes up as a jewelry or coin dealer. :mad:

    That info wasn't available 25 years ago.
    NOS likes this.
  15. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    :banghead: I would be fuming but I also wouldn't send coins of this magnitude w/o Insurance or at least an escort to the facility somehow. ;)
  16. KBBPLL

    KBBPLL Well-Known Member

    Sure, but I don't think it's realistic to think that a FedEx employee is standing around googling package addresses.
  17. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    They added lots of new people...many temps...not exactly the quality of people they hired in the past, IMO.
  18. Gilbert

    Gilbert Part time collector Supporter

    I think shipping one at a time might be smart considering the value of the individual coins.
  19. ToughCOINS

    ToughCOINS Dealer Member Moderator

    This is going to end up a hundred thousand dollar headache for several folks . . . the owner, the insurer and FEDEX.

    In this case, I'm confident the coins must have been adequately insured, but the insurance should not have been purchased from FEDEX. Buying insurance from the shipper increases the risk that an insider will discover the value of the shipment and take more than a passing interest in the contents. Private insurance gives less information to the shipper, safeguarding the owner against just one additional level of either negligence or malevolence.

    For much more valuable shipments than this, an owner should consider a bonded courier, or transporting the coins to the destination in person.
    Last edited: Nov 27, 2022
    KevinM likes this.
  20. Jim Dale

    Jim Dale Well-Known Member

    I have a little difficulty understanding why all of those coins were shipped in one package. If the loss was in the USPS, there would be Feds involved in this case. I don't know who would investigate the loss for FEDEX. Anyway, the value of the coins is not as much as the loss of those beautiful coins. It would seem that whoever has the coins will keep their "new" collection secret. It will probably be a long time before any of the coins surface. Even with the PCGS Certification Number, unless the buy knows they are stolen, they may contact PCGS to verify the certification.
    GoldFinger1969 likes this.
  21. baseball21

    baseball21 Well-Known Member

    Fedex and UPS dont care, they dont insure coins. Why people use them to send coins is beyond me. At least with USPS the Postal Inspectors would start criminal investigations into any loses or thefts

    Fedex doesnt insure coins, if thats the only insurance on the shipment than the shipper is out completely. I would assume they used private insurance and the headache will be mostly with the shipper trying to get the private insurance, Fedex will just say its not our problem that something we dont guarantee was lost, theres even places on their webpage saying they dont accept coins numismatic or otherwise knowingly
    GoldFinger1969 and -jeffB like this.
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