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Insurance for mailing coins worth >$500?
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<p>[QUOTE="Collecting Nut, post: 2247605, member: 74863"]The prices I gave in my earlier post are correct, according to the DMM and they contain the latest revisions and prices, which changed a few months ago. I know that some on-line companies that offer postage, like Indicia.com do not use Postal insurance. They use their own insurance. Therefore they limit the amount of insurance to suit their business model. I have no idea if PayPal does the same but if they do, that explains why you can only insure up to $500.00. The Postal Service will insure up to $5000.00 on Priority, at the window or on-line at usps.com, Click-N-Ship. Registered Mail is insured up to $50,000.00.</p><p><br /></p><p>If your coins, paper money, bullion or anything else you ship in relation to this topic, is not Hazardous, Liquid, Fragile or Perishable then yes, it is insurable. Different USPS rules apply for insurance for different services. The class of mail, the amount of insurance and your choice of shipping method all determine the various prices and costs. To file a claim with the expectation of collecting on the claim, you must provide proof of shipping, the packing, the item shipped (which must be surrendered to the USPS) and proof of the articles value.</p><p><br /></p><p>Section 609 of the DMM, 4.0 Claims Point G states: For stamps and coins of philatelic or numismatic value; the fair market value is determined by a recognized stamp or coin dealer or current coin and stamp collectors’ newsletters and trade papers. The date of the fair market value determination must be current and prior to the mailing date.</p><p><br /></p><p>Coins may be mailed 1st Class, Priority (with or without insurance-your risk) or Registered. The class of mail and the amount of insurance are entirely up to you, as the mailer and the agreement you may have with the seller. You determine the risks you are willing to take by what class of mail and the amount of insurance you choose. Choices are 1st Class, Priority, Express or Registered. All come with or without insurance. All have different pricing for shipping and insurance.</p><p><br /></p><p>DMM Section 609 strictly deals with Filing Indemnity Claims for Loss or Damage. Therefore it is specific to coins and their value and what proof is required in order to file a claim. It does not cover what may be mailed. Coins may be mailed other than Registered Mail.</p><p><br /></p><p>Conder has provided some great links and good information but is incorrect on the value of Registered Mail. The link below is the DMM (Domestic Mail Manual), It can be found at usps.com.</p><p><a href="http://pe.usps.com/text/dmm300/dmm300_landing.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://pe.usps.com/text/dmm300/dmm300_landing.htm" rel="nofollow">http://pe.usps.com/text/dmm300/dmm300_landing.htm</a></p><p><br /></p><p>There are numerous sites, manuals, notices, etc. within the Postal Service that cover what can be mailed, how it can be mailed and the costs associated with the mailing. Hope this clears any misnomers up. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="Collecting Nut, post: 2247605, member: 74863"]The prices I gave in my earlier post are correct, according to the DMM and they contain the latest revisions and prices, which changed a few months ago. I know that some on-line companies that offer postage, like Indicia.com do not use Postal insurance. They use their own insurance. Therefore they limit the amount of insurance to suit their business model. I have no idea if PayPal does the same but if they do, that explains why you can only insure up to $500.00. The Postal Service will insure up to $5000.00 on Priority, at the window or on-line at usps.com, Click-N-Ship. Registered Mail is insured up to $50,000.00. If your coins, paper money, bullion or anything else you ship in relation to this topic, is not Hazardous, Liquid, Fragile or Perishable then yes, it is insurable. Different USPS rules apply for insurance for different services. The class of mail, the amount of insurance and your choice of shipping method all determine the various prices and costs. To file a claim with the expectation of collecting on the claim, you must provide proof of shipping, the packing, the item shipped (which must be surrendered to the USPS) and proof of the articles value. Section 609 of the DMM, 4.0 Claims Point G states: For stamps and coins of philatelic or numismatic value; the fair market value is determined by a recognized stamp or coin dealer or current coin and stamp collectors’ newsletters and trade papers. The date of the fair market value determination must be current and prior to the mailing date. Coins may be mailed 1st Class, Priority (with or without insurance-your risk) or Registered. The class of mail and the amount of insurance are entirely up to you, as the mailer and the agreement you may have with the seller. You determine the risks you are willing to take by what class of mail and the amount of insurance you choose. Choices are 1st Class, Priority, Express or Registered. All come with or without insurance. All have different pricing for shipping and insurance. DMM Section 609 strictly deals with Filing Indemnity Claims for Loss or Damage. Therefore it is specific to coins and their value and what proof is required in order to file a claim. It does not cover what may be mailed. Coins may be mailed other than Registered Mail. Conder has provided some great links and good information but is incorrect on the value of Registered Mail. The link below is the DMM (Domestic Mail Manual), It can be found at usps.com. [url]http://pe.usps.com/text/dmm300/dmm300_landing.htm[/url] There are numerous sites, manuals, notices, etc. within the Postal Service that cover what can be mailed, how it can be mailed and the costs associated with the mailing. Hope this clears any misnomers up. :)[/QUOTE]
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Insurance for mailing coins worth >$500?
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