Sell Coins on eBay? DO NOT Insure with ShipCover Insurance

Discussion in 'Ancient Coins' started by Libby007, May 12, 2020.

  1. Libby007

    Libby007 Member

    Greetings Fellow CoinTalkers - If you sell coins on eBay and want to insure your shipment - DO NOT choose ShipCover Insurance as an option....The company will not cover any shipments of coins. I shipped a coins that has been lost in shipment. I filed a claim and this is the response (denial) to my claim:

    THE INSURANCE DOES NOT INSURE:

    A. Coins, bullion, loose diamonds or stones, stocks, bonds, currency, deeds, evidences of debt, travelers checks, money orders, gift certificates, calling cards, lottery tickets, admission tickets, or any other negotiable documents.

    The description of your item shows “THRACE Isl. of Thasos ~ NGC XF 4/5 3/5 - SCARCE AR Stater (Satyr with Nymph) 089” and the item was listed in the “Coins & Paper Money > Coins: Ancient > Greek (450 BC-100 AD).

    Unfortunately, the policy makes no differentiation between collectible or spendable coins. It simply states that coins are not covered. According to the description and categorization above, this item is a coin and therefore not covered under the terms and conditions of the ShipCover policy.
     
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  3. medoraman

    medoraman Supporter! Supporter

    I wonder if they are going back through their records and issuing refunds to all of those who paid for it and did not receive the protection they thought they were getting. If not, I hope an underemployed lawyer starts a class action.
     
    Inspector43 likes this.
  4. Inspector43

    Inspector43 72 Year Collector

    If you go back and read the fine print it probably covers all the disclaimers. However, the company did knowingly issue a policy. So, class action might work.
     
  5. Robert Ransom

    Robert Ransom Well-Known Member

    Duly noted.
     
    Inspector43 likes this.
  6. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    I'm confused as to how ShipCover Insurance works, so pardon my ignorance here. I'm assuming this is something available at the time of creation of the shipping label through eBay?

    So what then would be the solution? An algorithm that automatically doesn't cover the item if it is in a category that contains items that won't be covered by their policy? A pop up window notifying you of what won't be covered?
     
    Robert Ransom likes this.
  7. Inspector43

    Inspector43 72 Year Collector

    When I ship I just us the USPS insurance. You can always trust the government.
     
    Robert Ransom likes this.
  8. Libby007

    Libby007 Member

    Yes. When you create a mailing label on eBay and want to add insurance, you are given two choices: ShipCover or USPS. Of course eBay has ShipCover as the 1st choice. I now use InsurePost for all my insured shipping.... they DO cover collectible coins.
     
    Inspector43 and Robert Ransom like this.
  9. -jeffB

    -jeffB Greshams LEO Supporter

    Yep, I caught that in the fine print the first time eBay offered it to me on a coin shipment. I thought it was pretty scummy for them to make that the default on Coins and Paper Money sales. I still do. :mad:
     
    Inspector43 likes this.
  10. Libby007

    Libby007 Member

    Ruthless and non concerning. Pretty much sums it up.
     
    Inspector43 likes this.
  11. Inspector43

    Inspector43 72 Year Collector

    I haven't sold anything on eBay for a long time. I can't even get enough to recover my US Mint cost. I will give them away to family before I give them away to strangers on eBay.
     
  12. CoinCorgi

    CoinCorgi Derp, derp, derp!

    This made me chuckle.
     
    Inspector43 likes this.
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