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Can register mail for up to $15M but insure only to $50k. Why?
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<p>[QUOTE="calcol, post: 2770816, member: 77639"]Well, the $50k insurance limit for USPS registered mail is plenty for me. But I've noticed in the USPS fee schedule that mail can be registered for up to $15 million at $1.55 per $1000 of value. Yup, so your million dollar coin would cost $1,550 to send registered. In case you haven't used registered mail, the registration fee is the insurance (up to $50k coverage). Postage for transport is additional, but is usually inexpensive compared to the registration fee.</p><p><br /></p><p>But why would anyone register anything for more than $50k? I doubt the security is any better for a parcel registered at $1M than one registered at $50k, and the insurance coverage is the same. I would guess that most coins valued over $50k (and many less valuable) move with private insurance and are not registered. When I've sent coins to auction houses, they've supplied private insurance with the only requirement being overnight FedEx or USPS express mail. The coverage limit was $100k max per parcel (no problem there!). $1M coins probably are moved by armored car companies for less than a $1,500 haulage fee.</p><p><br /></p><p>Do folks really pay thousands for registering parcels worth millions even though the most they can get if it doesn't arrive is $50k? What am I missing here? </p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 2770816, member: 77639"]Well, the $50k insurance limit for USPS registered mail is plenty for me. But I've noticed in the USPS fee schedule that mail can be registered for up to $15 million at $1.55 per $1000 of value. Yup, so your million dollar coin would cost $1,550 to send registered. In case you haven't used registered mail, the registration fee is the insurance (up to $50k coverage). Postage for transport is additional, but is usually inexpensive compared to the registration fee. But why would anyone register anything for more than $50k? I doubt the security is any better for a parcel registered at $1M than one registered at $50k, and the insurance coverage is the same. I would guess that most coins valued over $50k (and many less valuable) move with private insurance and are not registered. When I've sent coins to auction houses, they've supplied private insurance with the only requirement being overnight FedEx or USPS express mail. The coverage limit was $100k max per parcel (no problem there!). $1M coins probably are moved by armored car companies for less than a $1,500 haulage fee. Do folks really pay thousands for registering parcels worth millions even though the most they can get if it doesn't arrive is $50k? What am I missing here? Cal[/QUOTE]
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Can register mail for up to $15M but insure only to $50k. Why?
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