Post Office does not believe coins are "real" collectables

The thread is a little outdated but I do wonder what happened at the end. In any case there is a reason why people hate the USPS. From packages lost to stolen or damaged packages, USPS does those the most. But I don't know why the don't deem coins as collectibles. If you look back in history, coins has been a long time hobby from kings to collectors like us.

 

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read;
http://www.cointalk.com/t182120/

And then
http://www.cointalk.com/t190920/

 

The lawyer will quickly cost more than the value of the coins, IMO.

If I were you, I'd keep pushing things at your local PO. Escalate up the chain as necessary.

Good luck.

 

The last time I insured a package with USPS, the lady confirmed if lost or stolen, whatever, the premium I paid for is paid no matter, no confirmation of what's inside. I think you got a post office that tried to low ball you.

Edit: Nevermind, that lady must have been smoking crack, filing claims requires proof of value according to their website.

 

Your story is a little hard to understand but it looks like you bought insurance for coins worth $3994.00. When your post office accepted your payment for shipping and insurance, they are obligated to pay it.

You didn't say if you paid the extra for signature upon delivery.

If the post office shipped the package without being signed for, they are still liable for your lost package even though it was a bad descision on both parts.
If you can sue the post office in small claims court then it looks a sure win but you still have to produce the original receipt and some pics of what you shipped would compliment your case.
If you can settle for what you you have invested in the coins then you should be happy with this and take it.

 

Looking back at this. However it turns out, or however the shipping went. I think you can only get reimbursed for your actual loss. Or the cost base of your items. It certainly wouldn't be fair, to have them lose say a 1942/1 Dime worth 3-400 that you found in circulation 60 years ago and offer you 10c. And I imagine there is a compromise a judge would work out on that. Probably something like the Grey sheet value ? Or what it cost to actually replace the coins for you.

I don't think they insure your profits. Like breaking something in a store. You are only liable for their cost of the item, not the sales price. I think the Post Office is in the same situation. They are liable for the replacement cost of the coins, not what you sold them for.

IMHO

gary

 

I work in insurance. As was pointed out before, if you paid a premium based on the insured amount the PO should pay you the amount you insured the item for. The theory that the PO can't tolerate a $50,000 box of rocks going missing sort of misses the point. Premiums are based on the chance of having to pay out..this is set by actuaries. Fraud is dealt with by law enforcement. I would personally contact a lawyer and ask what they thought about this. The lawyer should tell you what they think your chances are and you can make up your mind from there. I'd personally spend up to $4000 just to get the satisfaction of justice.