Shipping question

I sold a coin for over $500 on eBay and I am nervous to ship. I understand USPS won't insure coins. I need some help. Should I :
1. Ship priority and request a signature
2. Ship registered. If so how do I do this since it's not an option on the eBay shipping menu.

Thank you

 

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USPS will not insure money, but they do insure numismatic collectables. Just ask PCGS, NGC, and ANACS.

I haven't used it, but my understanding is the break over for registered is $1000.

 

Break over?

I need an item over $1000 or under?

 

Priority with signature is good enough. If you're not prepared to potentially take the loss, then insure the shipment for the full sale value.

 

You understand wrong. You can insure coins with usps, and there is an option when printing your label with ebay to select usps insurance. I ship first class (cheaper than priority).

 

Personally (and this is just my opinion, take it for what it's worth) - I ship items worth $500 or more via Registered Mail. Yes, it can be nerve wracking a bit, but if you're going to sell $500 coins on eBay, and you want the money, you'll need to learn to take a deep breath and CYA properly.

You cannot select Registered Mail through eBay's shipping system because you have to take the package in to your local PO. You'll have to fill out a short form including your address, the recipient's address, and the declared value of the item. I usually will put as little packing tape around the box as necessary to ensure it won't accidentally open (usually one strip around the outside) because the USPS employee will be required to put their paper tape around each seam of your package. This paper tape's glue is pretty poor, so it won't stick very well to the packing tape, but it WILL stick to paper/cardboard, so don't worry about taping the heck out of the package before you get it there.

After they put their tape on, they have to date stamp and initial ALL OVER the package to make sure no one tampers with the contents during shipment. It will then go in a safe and be signed for at every stop along the way. The ONLY time I've ever had issues with Registered Mail was in the Salt Lake City USPS system (by FAR the worst I've ever come across) where the mail carrier assigned to my delivery area would occasionally leave the packages OUTSIDE and on top of the apartment complex mail boxes (not inside the building, and didn't leave a note for me to come pick it up since I wasn't present.) That's a major violation of Registered Mail accountability rules, and even though I reported it, it happened again and again...but only in Salt Lake City.

Save. Your. Receipt.

 

Yeah, the upshot of all this is that the seller is responsible for getting the coin to the buyer. And, if it doesn't make it, the buyer is owed a refund and you're out the coin. The only way it works out for you in that scenario is if you have some kind of insurance coverage (either from the carrier or by self-insuring over a number of shipments).

 

The limitations list coins in the first sentence. I can select it but would it pay is the real question

 

Do they insure for loss? It would seem to be more insider theft I would assume. Why do you say nerve wracking when it sounds like it's a very controlled process?

 

It is a very controlled process. There's a chain of custody the entire time your package is in USPS hands when you ship registered. I don't know if it's insured by default right off hand, but you certainly can insure a registered shipment. It's the absolute safest way to ship USPS, but you pay for that safety.

 

I cannot diagree more with the advice above to do as little as possible on a registered package. It is very inconsiderate to show up at the post office with a registered package that is not properly prepared, not to mention will take you longer and everyone in the line behind you will hate you. If you want something done properly do it yourself. It's also not true the brown tape doesn't stick well, it does. I've sent numerous registered packages, tape it at home and it will be exactly how you want and as secure as you want it when you ship it.

as for the OP. Id ship the package with signature confirmation and you're fine as far as shipping. If they don't deliver USPS will pay. As far as eBay scams thats a different story.

 

You sold something without knowing how to ship it? seriously?

 

I would ship 2-3 day priority with signature required. You will get $50 of insurance included and you can add insurance for the remaining $450 if you wish.

 

Put it in a padded mailer or a bubble envelope. Wrap the coin in bubble wrap or place it between 2 pieces of cardboard before placing it in the mailer. You can also use a small box but the mailer is better if packaged properly.

If you make the value of the coin over $500.00, it will need a signature. Forget the Signature Confirmation. All that does is get someone to sign for it but it the coin is lost or damaged, you get NOTHING! Ship 1st Class Mail with $500.01 or higher insurance. You get a signature and you're covered against the lost or damage. All you need it your sales receipt, proof of the price of the coin and your insurance receipt.

It's not that difficult and no need to stress about it. Just remember:
Signature Confirmation = they sign but USPS will not pay if lost, damaged, etc.
Insured over $500.00 + they sign and USPS will pay if you have the paperwork.

 

Why are you surprised? It happens daily in my office.

 

I sold a two set Russian gold 10 and five rubles with the last czar. I sent it by registered mail and insured it for $850.00 with the USPS.
No trouble at all.

 

I think it depends on the Post Office you use and the tape you use. I know my PO has told me not to use clear packing tape - they'd rather have the box not sealed at all because the Registered Mail tape doesn't stick to it. If you use paper tape, I'm sure it's fine to fully seal the box.

 

I'm not letting a $500 coin out of my sight without a Registered Mail package surrounding it. As a (potential) alternative, I'd contemplate Express Mail Overnight or similar.

OP, you gotta learn to plan better or you'll get burned down the road. Perhaps with this sale itself.

 

If you are talking about using an ebay label their default insurance carrier WILL NOT insure coins. But there is a place when you are preparing the ebay shipping label where you can select USPS insurance and they WILL insure the numismatic value of the coins.

Insuring under $1000 priority insured is cheaper, over $1000 Registered is cheaper. And as the value increases Registered becomes MUCH cheaper. A $5000 Priority insured (which I believe is the max) costs a couple hundred to insure. A $25,000 covered Registered package costs $50.

When you ship registered you have to declare a value and you pay based on that declaration. It is then insured for that amount.

You can do that, but it will 1.) cost more than the Registered mail and 2.) mark your package as being potentially very valuable and without the security provided by the Registered mail procedures.

If you use delivery confirmation for lower value shipments and USPS shows it was delivered, or signature confirmation for higher value ones and USPS show a signature was obtained then eBay considers it to have been delivered and you don't owe a refund even if the buyer doesn't, or says he didn't, receive it.

 

Great advice. Thanks everyone. Only one post implied I was an idiot which isn't too bad. I have shipped a $500 coin before. I sent it priority with signature required and held my breath the whole time. I didn't know that there were TWO places for insurance. Thanks