WARNING Parcel Insurance Plan (PIP) default insurance on paypal does not cover coins

The purpose of my post is to create awareness that there are 2 different choices and the default is Parcel Insurance Plan ("PIP")

I just sold a US Coin on ebay, first time I have sold something in years. While preparing the shipping label I noticed the default insurance is Parcel Insurance Plan ("PIP") I'm not familiar with this and thought the USP was now farming out their insurance. It turns out the USPS is not farming out their insurance, PIP is acting as an agent for ebay or paypal.


Long story short Parcel Insurance Plan ("PIP") does not cover coins......here is a link to their Terms of Coverage


II. THE INSURANCE DOES NOT INSURE:
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.




After reading the terms I went back and noticed there is a drop down that allows you to select USPS Insurance.

 

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Thank you. That is good information to know.

 

I just get "under $200." USPS ins. for $1.95. That includes tracking & D/C.

 

It's pretty funny that PIP lumps coins in with this other non-insurable item:

"Any weapon of war employing atomic fission or radioactive force"

 

If you were to ship a nuclear bomb via USPS, how much would you insure it for?
If it explodes before delivery, could you collect on the insurance?

 

No because it is illegal to ship explosives through the mail.