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<p>[QUOTE=&quot;Registered Mail, post: 759670, member: 21936&quot;]<font face="Comic Sans MS"><font size="3"><span style="color: blue">I’m trying to think of the best way to respond… I bought my wife a diamond engagement ring in 1975, if we were to send that ring to someone across the country by Registered Mail today I would be required to declare the current value of that diamond, not what I paid for it in 1975, or what I might be able to work out with someone.</span></font></font></p><p>&nbsp;</p><p><font face="Comic Sans MS"><font size="3"><span style="color: blue">Lets say the diamond was worth $500.00 in 1975 and it is worth $2,000.00 today. It sounds like you are asking me can I declare the diamond ring is only worth $500.00 and only pay what I paid for it in 1975, correct? The answer is NO, it’s all about Current Market Value, not what it was worth 34 years ago. </span></font></font></p><p><br /></p><p><font face="Comic Sans MS"><font size="3"><span style="color: blue">I’m sure that many customers and businesses falsely declare their shipments every day and save a lot of handling fees because they have their own private insurance, but if a question ever comes up in the future, the consequences may be devastating. Let me give you another example of what actually happened in the past, but I can’t go into too much detail:</span></font></font></p><p>&nbsp;</p><p><font face="Comic Sans MS"><font size="3"><span style="color: blue">A business sent their package by Registered Mail but only declared the deductible amount of what their private insurance company would not pay. <b>This is an Example Only, and not what actually happened </b>- the package could have been a $15,000.00 Rolex watch, and the jewelry companies private insurance company had a $500.00 deductible amount. The Jewelry company declared the shipment was only worth $500.00 to the Postal employee and only had to pay for $500.00 worth of Registry fees instead of $15,000.00.</span></font></font></p><p>&nbsp;</p><p><font face="Comic Sans MS"><font size="3"><span style="color: blue">The package either got lost or was stolen and a claim was put in by the company that mailed it to both the private insurance company and the Postal Service. When the private insurance company found out the a the mailer told the a government agency, the Postal Service in this case, that the value was only worth $500.00 the private insurance company would not pay the $15,000.00 claim and the mailer was out $14,500.00.</span></font></font></p><p>&nbsp;</p><p><font face="Comic Sans MS"><font size="3"><span style="color: blue">So regardless of what it is, a roll of coins, or a used laptop, the current market value is what is required to be claimed to make it legal.</span></font></font>[/QUOTE]</p><p><br /></p>

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