Post Office does not believe coins are "real" collectables

My sorry story with a registared, insured, priority mail lost package going to grading service lost or stoled by postal workers continues. Sent package April 29. Called grading service May 16. They never got. On line Postal site showed accepted at local Post Office andwith the help of my local Post Master traced it to San Franisco then onto Atlanta and then who knows where. Filed claim 5/21/2011 insured value $3994.00 after looking up the 78 coins and getting prices sold from auctions, fixed price lists along with how to verify the value of the coins through published lists and what type they were by showing one type vs another type the post office sent me a check for $31.64 less than face value and postage. I contacted the local TV station no interest, as a Life Member of the ANA no help but would I like to donate (what?), local radio attorney sent in info no help yet, I finnally contacted my Congressman the Honorable John Garamendi, who's assn't Karen Tedford wrote to Postal System. She got back a letter signed by MaryGrace Cruz Postal Consumer and Industry Manager that the claim was settled for less than the insured amount (what?) $31.64 I do not think so. So I appealed again with more information as to the worth of the coins and guess what they sent me the value as if the coins were common worn silver with no value above that $583.96 14.6% of what I paid insurance for. Coins are not a collectable guys and lady's as far as the US Postal Service is concerned now that Rolex well that is (what?) a watch is a collectable and coins are not. Stamps ARE collectable and coins are not. I have written my Conressman's office again for help. I will call the Post Office again and send their check back and when I get my tax bill next year would the government let me pay 14.6% of what I owe because well they really do not do a good job. They are not employees. Employees, well do their job and produce something other than a pile of paperwork with no value. If I were you I would not send any coins in for grading by the mail. It looks like the workers know the grading comapnies addresses and then the package "goes" missing and then they will not pay your claim.

 

Log in or Sign up to hide this ad.

Such a tragedy, I am sorry to hear of your loss, and I wish you the best of luck.... I can't imagine having lost that many coins and not even receiving anything close to the actual value... I hope your petition goes well.

 

I think your going a little overboard. That may be the retail value but I doubt that's what you paid for them. I would imagine you may have made a profit even. I know that it wasn't your goal and that you would rather have your coins back then the money but at least you didn't lose $4K worth in coins.

 

What a sad story....I FEEL LUCKY because I am not paying any due to ANA because I am not a member of it. I Feel Lucky because I do not ship my coin for grading...
I feel lucky because No one fooled me..I feel lucky because I can smile what ever comes to me..Life is so beautiful......Wish you that all your lost will be replace by a good one...:thumb::thumb::thumb::thumb::thumb:

 

I have no idea if a representative from another district can even work with you, but you have not succeeded with your own representative. You might try contacting Frank Lucas.

I cannot hurt, can it?

 

True I did not pay that much for them. 68 of them were type "B" Washington Quarter reverses I had cherry picked the last ten years. One was a 1863 Indian Cent with reverse die CUD, three were Cherrio cents my kids got out of Cherrios boxes in 2000 that I was slabbing to put in the Christmas stockings, stuff like that. I did not even know that "Cherrio" cents were worth until I went on Teletrade $30-33 each to replace. A beautifuly toned 1950 Lincoln cents with colors out of this world I bought in 1995. One 1950 S/S Washigton Quarter Gem BU bought in the 90's, 1950 D/S just cherried out of "scrap silver", a 1970S prisioner cent cherried out of a roll. Just because I knew more, more likely was just lucky than who I bought them from does not mean they were not worth what I insured them for. I was not slabbing them for sale I was getting them protected so I could share pass around. It was my collection and I mailed it by what was suppost to be the most secure and safest way to do so. I was not trying to have the package lost and collect as I would like the coins back more then the money and stated so in my forms to the governent. I even filed a postal fraud claim with the postal inspectors to try and get action. But since "they" lost it they should pay me approx replacement cost. In filing the claim the sales of the coins was over $4250 that I was able to verify, I insured them for "only $3994.00" and told them that is what I would have to settle for. Just want what is due me that is all. Thanks

 

Thanks will copy him.

 

See my reply.

 

Wow I feel bad for you. Thats alot of time invested, and some pretty neat coins. I wish you all the best my friend.

 

That's terrible. I'm really sorry. Have you tried talking to the grading service? Or any of the grading services really... They may have a connection or contact that could help. I'm sure this isn't the first time this has happened to someone sending them coins and I'm sure they have heard about it before. It's just a thought. Good luck!

 

Thats kind of like saying"well we lost your ten ounces of gold coins but when you bought them gold was only at $300 so here's $3000" You pay insurance so you can replace the coins not to recover part of what you might have spent.

 

Sorry about you loss. Well the one time I had a batch of coins go missing in the mail - the seller worked with the post office and it was fully refunded. As far as I know you can only insure coins for what you paid for them - one of the reasons to track what you paid for them and keep receipts.

 

You are twisting circumstances. If you buy a coin and they mail it to you, it can only be insured it for what you paid. That is the value of THAT coin at THAT time. However, if that coin is gold from 10 years ago and it is now worth 10 time what you paid (provable) and you mail it, you can now insure it for 10 time what you paid.

 

That is very nice of you. I am also a head coach at a local high school. I always say to my team what comes around goes around. Good Karma so to say. Thanks

 

Did not know that. Then how do you do raw coins? I can see where the post office might want more than just your grade on a coin. I am just glad I never had a problem with the post office.

PS - I am not saying the OP did anything wrong.

 

Ok then I have a really rare 1793 chain link coin that I found metal detecting. I send it in. I insure it for the value it would sell for. I pay extra to make sure it gets to where it goes. It gets lost. So I get a penny I mean "Cent"? What about all the time I spent detecting, bought a machine, maybe researched a location, drove there.
I spend my time reading, learning buying books and newspapers, really become a true lover of type coins. I then go to shows over 20 years, pay to get in spend my time to discover lost treasures that others missed. I insured for what they were worth. Not silver value. What I am saying is the Post Office says is a coin collection is NOT a collectable item, worth just the melt value. I do think that that would **** every collector off! Mail something and get melt. $30 bucks for a unslabbed 1880S MS66 dollar bought years ago. Really! you would accept that? Do you not see how unfair what the Post Office is doing? It is not like I was "planning to have my package lost (stolen) just to collect the insurance. My Post Master told me that they have paid claims on a Rolex watch that was lost...A stupid watch hundreds of them made marketed as the thing to have to show off our wealth. Martketed by a bunch of over paid celebrities who have done nothing to help anyone but themselves. The Post Office should have paid "melt" on that one. I have spend a lot of hours, copy paper to research just to verify what coins were worth at a medium grade. If a couple of the coins slabbed "67" they could have been worth several thousands of dollars. I was also cheated out of that.

 

My sorry story with a registered, insured, priority mail lost package going to grading service lost or stolen by postal workers continues.


Sent package April 29. Called grading service May 16. They never got. On line Postal site showed accepted at local Post Office and with the help of my local Post Master traced it to San Francisco then onto Atlanta and then who knows where.


Filed claim 5/21/2011, insured value $3994.00, after looking up the 78 coins and getting prices sold from auctions, fixed price lists along with how to verify the value of the coins through published lists and what type they were by showing one type vs another type.


The post office sent me a check for $31.64 less than face value and postage.


I contacted the local TV station no interest, as a Life Member of the ANA no help but would I like to donate (what?), local radio attorney sent in info no help yet, I finally contacted my Congressman the Honorable John Garamendi, who's asst Karen Tedford wrote to Postal System.


She got back a letter signed by MaryGrace Cruz Postal Consumer and Industry Manager that the claim was settled for less than the insured amount (what?). $31.64, I do not think so.


So I appealed again with more information as to the worth of the coins and guess what they sent me the value as if the coins were common worn silver with no value above that $583.96 14.6% of what I paid insurance for.


Coins are not a collectable guys and lady's as far as the US Postal Service is concerned now that Rolex well that is (what?) a watch is a collectable and coins are not. Stamps ARE collectable and coins are not.


I have written my Congressman's office again for help. I will call the Post Office again and send their check back and when I get my tax bill next year would the government let me pay 14.6% of what I owe because, well, they really do not do a good job. They are not employees.


Employees, well do their job and produce something other than a pile of paperwork with no value. If I were you I would not send any coins in for grading by the mail. It looks like the workers know the grading companies addresses and then the package "goes" missing and then they will not pay your claim.


Read more: http://www.cointalk.com/t186728/#ixzz1SK6lE5O5

First off, paragraphs are your friend. Remember that from grade school? So is spell checker. It was hard to even get through this.

Secondly, the PO is very good about paying legitimate claims. But they require documentation about the actual loss. Sounds silly, maybe. But imagine the volume of claims they have to deal with, and all the folks claiming that those Elvis sunglasses are worth a fortune.

I am sorry for your loss. You reached far too deeply, IMO, trying to get TV and Congress involved. Your job is to prove your loss. Consider this every time you ship insured. Just because you say it is a $10k coin doesn't mean that's what you'll be paid in a loss.
Lance.

 

To the OP, thanks for sharing your story. I think the worst insurance is the type that doesn't pay out (does the postal service even have an insurance policy or contract that a lawyer can study to investigate a breach of contract?). I've heard of people successfully collecting insurance from the Post Office but they're only small amounts (< $100). I wonder if high amounts (> $1000) can actually be collected with reasonable effort or if one needs to get politicians involved. In any case, I'm thinking of saving my money on insurance and maybe considering other shipping options (like Fedex air).

 

I remember your previous posts on this. I was wondering how this was going. This is really a mess. Even if you never get the insurance straightened out, I wouldn't lose hope that you'll never see them again. Sometimes in shipping some really weird things can happen. Whether it be mechanical or human error. Everybody is in a hurry. One time I had a valuable box accidentally delivered to a house a few blocks away from me. The address wasn't even close. It was a vacant house. It sat there for 3 months. The owner lived in Chicago. One day I get a knock on my door. The guy came to check on his vacant house, found my package and delivered it to me.

Your package could have dropped into something or fell somewhere where it hasn't been seen and the area has not been checked yet. It's certainly possible that somebody stole it, but it's almost just as likely that something weird and out of the ordinary happened, and it's sitting somewhere waiting to be discovered again. Since it was registered and so well tracked, you'd think it was almost more likely that it's accidentally lost somewhere. Most people making 50 to 70k a year with benefits are not going to risk losing that job over a few grand. Most. I realize there are some that are stupid and some who are addicted to the thrill of stealing that would risk it. But still, I'd say the odds were in your favor.

You know, some day, out of the blue, maybe even 5 years down the road, the box might make it back to you with an unbelievable story. Really sorry to hear about this mess though. I appreciate your posts. They have been valuable information for us all. Trust me, I wouldn't want to be trying to get any insurance money for anything out of the self insured, USPS these days.

 

letter going out to ask that they support me in the fact that coins are collectable