Alert - Coins Stolen in FEDEX Transit

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

  1. gmarguli

    gmarguli Slightly Evil™

    Why does it matter if there is a $100 or $1,000,000 in value in the package if you have insurance? The value of that loss is meaningless to you since you have insurance. And statistically, each package has a tiny probability of getting lost/stolen. The more packages you ship, the higher probability you have of a loss. There is a reason why an insurance company charges less to send one $20,000 package than two $10,000 packages.

    Because best not to draw attention to the packages. There is a reason why dealers don't put coins in a padlocked canvas bag and have an armored car drive it from place to place. These bags were arriving empty. A generic FedEx box that looks like millions of others that is going from one place to another doesn't draw attention.

    We use them because they are generally very fast (less time to steal the package) and they are generally reliable. My insurance policy is actually cheaper to send a coin INTERNATIONALLY with FedEx or UPS than it is to send DOMESTICALLY using USPS with tracking. That says a lot about their reliability.
    Mainebill and -jeffB like this.
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  3. baseball21

    baseball21 Well-Known Member

    Penny smart dollar stupid is always a thing. It sucks when packages are stolen and I don’t wish that on anyone, but the issues with those services aren’t a secrecy. A few extra bucks in private insurance for a better service is worth it.

    Fair enough if the private insurance insists on it for a shipment of that value. Hopefully whoever sent this has an assurance that they will get compensated
    Last edited: Nov 27, 2022
    GoldFinger1969 likes this.
  4. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Fedex should have an investigator.
    Remember Tales of Wells Fargo?
    With Dale Robertson? Jim Hardie?
  5. gmarguli

    gmarguli Slightly Evil™

    You're missing the point. You point to issues with "those services". If the insurance company underwriter, with all their access to losses, is charging a rate for those two services that is a fraction of the rate for the USPS, it means that they are far safer than the USPS.

    Based on what I could find online, FedEx & UPS lose packages around .1% while the USPS loses packages around .5%. Again, this shows that those services are safer.
    -jeffB likes this.
  6. baseball21

    baseball21 Well-Known Member

    It means thats what they choose to charge nothing more. USPS does the final delivery for many of the final delivery for UPS and Fedex anyways. You also now have random people in personal vesicles delivering such packages

    If someone wants to use such services that blatantly say they have no liability for a package with those contents thats certainly their choice. Its a shame it happened, but I will stand by for multiple reasons that its an extra risk regardless of what insurance is charging, talk to a postal inspector about how much they would care about a private company losing a package if nothing else
  7. gmarguli

    gmarguli Slightly Evil™

  8. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Yeah, no apology necessary, your coins are gone, suck it up buttercup.

    What about the buyer, and the buyers he had lined up. I sure as hell wouldn't trust any of them with 100 G's of my money.
  9. techwriter

    techwriter Well-Known Member

    Sad, sad. Been there done that but not to this amount of loss.
  10. charley

    charley Well-Known Member

    I have a basic skeptic position on such stories.
  11. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    The incidences of theft seem to have gotten worse now than 5 or 10 years ago. "Lost" packages were very rare but even the online tracking can be off.

    Last year my uncle had some very important papers that needed to get somewhere.....they hit Newark and were "Out For Delivery" with no details for the next 2 months. Needless to say, after 2 days of no movement, we re-sent duplicate documents to where they needed to go.

    The major carriers and even the USPS lost alot of honest, hard-working veterans the last few years (especially after Covid) and got the dregs of the labor force, people prone to criminal behavior, many probably with criminal records. Add in smartphones and the ability to find out where a package came from or went, and all of a sudden valuable packages go missing.
  12. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    A veteran employee with stock and a nice 401(k) and pension ? Probably not.

    Temp workers who know they will be hired seasonally or for only a few months ? I'm not so sure.
  13. KBBPLL

    KBBPLL Well-Known Member

    I'm not ruling out hanky-panky on the sender or recipient side (cough cough insurance fraud cough cough) but we have very few details here. $100k and the insurance investigator will be all over it I'd think.
  14. Heavymetal

    Heavymetal Well-Known Member

    A 401k last year is a 201k now and that monthly contribution starts to hurt. And pension ? Who knows what evil lurks...
    Mainebill and GoldFinger1969 like this.
  15. charley

    charley Well-Known Member

    If there is something to investigate.
    GoldFinger1969 likes this.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    This seems to be a more and more
    common, my son bought a Apple lap
    top on eBay, and what showed was
    some steel washers of all things to
    simulate the weight, so basically it
    comes down to your word against the
    sellers, or improper labeling coins enclosed…LOL
    GoldFinger1969 likes this.
  17. Mainebill

    Mainebill Bethany Danielle

    Some absolutely killer coins. Good they’re well documented at least
    GoldFinger1969 likes this.
  18. RVACoinFlex

    RVACoinFlex New Member

    I can't imagine losing those coins! :jawdrop: It makes me want to cry just thinking about it :bigtears:
    GoldFinger1969 likes this.
  19. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think the origin of the shipment says
    allot, many employees that work for
    these companies know this, and can
    tip of others that the shipment is coming
    from a coin company.

    Not the same thing, but the concept is
    the same, several years ago I was on
    way to work and my truck broke down
    I actually got in touch with the roadside
    freeway patrol, they towed me to a park and ride and I called my wife to pick me
    uo when I returned 2 hours later someone broke in to my truck and stole
    all my tools, later found out from the police that a freeway service patrol employee was responsible, tipping off
    friends and other co workers of a
    unattended vehicle, and an easy mark !
    Gallienus likes this.
  20. Gallienus


    That's an awfully nice 1806 half dollar for just an AU-53. Unless there's something wrong with it that doesn't show up in the photo. You'd never find something like that in a 53 slab at a general auction.
  21. Vertigo

    Vertigo Did someone say bust?

    I wouldn't put anything on FedEx...
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