Alert - Coins Stolen in FEDEX Transit

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

  1. Jim Dale

    Jim Dale Well-Known Member

    I know that we are kicking a dead horse, but, from the entries above, there doesn't seem to be much sympathy for the person that sent the package. I don't know what the "real" value of the coins are, the person (s) that got them, probably hocked them as soon as they could. There are a lot of people out there now that are really hurting for money and would probably do what is necessary to feed their families. I do feel for the person that mailed the package, but I hope there are lessons from this event. I can't remember if it was mentioned, but, were any of the coins graded? I have bought quite a few coins through ebay, and luckily, have always gotten what I paid for. The only exception was that I didn't get the coin because the seller never sent it. Looking at their history, I wasn't surprised, but he did refund the money. I will never buy from him/her again. I usually look at the seller's history before I buy. Recently, I did buy the 2021 O Morgan due to the price. He had less that 100 sales, but I bought from him again.
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    KBBPLL Well-Known Member

    All of them. The cert #s and grades are in the original post. Most of the PCGS ones also have images. I didn't check the NGC certs for images. It's not clear to me why they were sent FedEx if FedEx specifically prohibits numismatic items. That may be the source for the perceived lack of sympathy. I didn't find such a prohibition myself on the FedEx website except for certain countries regarding international shipments, Japan for example. If you look under US it doesn't say anything about coins being prohibited from being sent here. Look up US here You can't send Kinder Surprise Eggs though.
  4. H8_modern

    H8_modern Attracted to small round-ish art

    The coins are nice but not that expensive. I bought some just like those at a flea market for $50 each
  5. -jeffB

    -jeffB Greshams LEO Supporter

    No one's saying that FedEx doesn't let you ship coins. It just doesn't let you insure them. More accurately, it'll be happy to take your money for insurance, but it won't pay out if you claim coins were lost.
  6. Santinidollar

    Santinidollar Supporter! Supporter

    I think someone in advance knows these shipments will be made, has a confederate to swipe them and someone lined up to buy them. These are not random thefts.
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I've wondered the same. That establishing patterns between points of origin and points of disappearance would make investigation relatively easy has me thinking it's less organized than that.

    I'm guessing it has more to do with business names on packages and some outward indication of the value of the contents, be it insurance coverage, customs declaration or otherwise.
    Santinidollar likes this.
  8. Long Beard

    Long Beard Well-Known Member

    To shell out that kind of money and not buy a plane ticket to secure their investment was down right foolish. We hear of these sort of crimes, with increasing frequency, and rarely- if ever- hear of a recovery. It's sad to say, but trust no one.
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    There are a fair number of dealers that ship packages of coins like this weekly, and cannot afford the time away from their businesses to accompany their coins in transit. Typically though, they have dealer's insurance policies which cover them against such losses, and do not leave any indication of value on the outside of the parcels.
  10. Gallienus


    Once many years ago I bought by mail & returned an 1805/4 Bust half in similar grade. This was when I was a teenager in the 70's and the coin was a little cheaper. I ended up eventually buying an 1803 half and later an AU 1806.

    The stolen 1795 Large Cent is the most recent 1795 sold by Heritage July 15, 2022 and wasn't particularly cheap for the type nor undergraded*. It's a common variety apparently and also a coin ('95 LG cent) that I've tried to buy unsuccessfully in the past. Due to the dent on the back I think I can easily remember this specimen.

    The 1805 $5 gold is also a very notable and important coin. Personally, I'd prefer an ms-62 in 1798 but this is a really nice 61 and a slightly better date at 1805. It too was sold by Heritage but in Feb 27, 2014 at $14.1 K. It's unique because of the little ding in the middle of the shield vertical lines Reverse. Possibly this downgraded it from a 62?

    All very solid collector coins. Not regrading nor reslabbing, nor a sale to a collector IMO. Any collector who could afford all this stuff together would definitely upgrade on some of them: tho individually they're all very nice. I'd guess they were being sent to a specialist dealer in Early American coinage? I can definitely keep a lookout for these few pieces.

    * I really collect Roman bronzes so my opinion here is not that of an expert...
    Mainebill likes this.
  11. calcol

    calcol Supporter! Supporter

    The most secure way to ship coins in the U.S. is USPS registered mail. This mode has the cheapest insurance rate from my insurance company …$0.11 per $100 of value. Next cheapest is Fedex Priority Overnight at $0.18; regular Fedex Overnight is $0.20. Main problem with registered mail is that it’s slow. And postal clerks are glad to accept more money for your registered parcel to be labeled priority, but it won’t go a bit faster. I’ll often pay the higher insurance rate and use FedEx for speed.

    A big advantage of private insurance is that you are required to state a value of ZERO on the package and shipping company forms. You are also required to use a fairly large outer box and have a box in a box … both of these discourage theft and damage losses. And adult signature for receipt is required.

    BTW, with FedEx, you can have the package held for pickup if you’re concerned that the address will be looked-up and found to be a TPG service, dealer or auction house … will also prevent delivery person theft. Most FedEx facilities have video surveillance. Just be sure the recipient knows where to pick it up. But most importantly … insure it for full retail value and require an adult signature for receipt.

    PO boxes can also be googled to ascertain the owner in many cases. Google “Box 9458, Newport Beach, CA 92658” and see what comes up.

    If the thieves in the OP case know much about coins, they’ll crack-out the coins and send them to the other TPG service in small batches and sell to different dealers. But more likely, they’ll try to sell the lot as is and hopefully be busted.

    Three most important things about shipping coins: insure, insure, insure!

    Heavymetal likes this.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Insure through a third-party, right? We're still all in agreement that the insurance FedEx offers will not cover coins?
  13. calcol

    calcol Supporter! Supporter

    Yup, third party ... never through a shipping company (including USPS).
  14. Heavymetal

    Heavymetal Well-Known Member

    How often do you report the values to the insurer?
  15. calcol

    calcol Supporter! Supporter

    With every shipment. Value and method of shipment are what determine price of insurance.

  16. baseball21

    baseball21 Well-Known Member

    Fedex actually does prohibit coins including collectable coins according to their website

    It doesnt seem to be a strictly enforced policy as the counter clerks rarely if ever ask what youre sending and just scan the package and take it.
  17. baseball21

    baseball21 Well-Known Member

    As far as registered mail, the priority thing has to do with weight. Over a certain weight everything has to be "priority" or higher unless you have a special business account with them. That said though yes this is the safest way to send high value things whether or not someone is using private insurance, express mail would be the second safest. Those are the two mail items that really get tracked and really get the postal inspectors attention if something happens to them.
  18. -jeffB

    -jeffB Greshams LEO Supporter

    The page links to a document with details, but it's in Japanese. I tried for a bit to find an English version, but gave up.

    A number of dealers apparently have special arrangements with FedEx for both incoming and outgoing shipments, but you're right, apparently peons aren't supposed to ship coins with them.
    Gallienus likes this.
  19. baseball21

    baseball21 Well-Known Member

    There’s a pop up on it for some reason if you hit the x it shows them saying not to. Obviously they will but it just gives them extra cover if a package is stolen or emptied out saying well you shouldn’t have sent those in the first place.

    It’s not out of the question that the thefts are getting bolder knowing the company couldn’t care less and doesn’t have to pay out anything from it.
  20. techwriter

    techwriter Well-Known Member

    One important item to remember is that the majority of FedEx delivery is performed via contract people, not necessarily FedEx employees. How much liability does the parent FedEx have, don't know that answer.
  21. Treashunt

    Treashunt The Other Frank

    then you got taken
    Gallienus likes this.
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