Question about mailing coins and money?

[Coppercrazy]

I don't know if any of you could answer this for me or not, but the post office says you can't insure money. Understandable, but does that mean you can ship like 1 coin that is sold way higher than face value? Because technically it is money, but it isn't being sold as money really. This is probably a really stupid question, but could someone please answer this for me!

 

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[mercury1]

I have done business with APMEX, buying US and foreign coins and they can be insured. It's part of their shipping charge. I think what you were told was for regular currency. You can't mail someone a stack of 100's and insure it for face value. Rare coins and precious metal are different.

 

[MrSchulz]

I buy and sell coins on ebay daily. I've insured tons of coins. Not sure why there saying that. It has historical and collectible value. It would be the same as a stamp.

 

[Easy]

Just use PayPal on eBay and you will be covered. It is very rare they actually. Ever lose anything.

 

[crhstreetwalker]

How do these sellers get around shipping items like these then? I've always wondered about this. 100 NEW ONE DOLLAR BILLS $1 PACK UNCIRCULATED IN CONSECUTIVE ORDER | eBay

 

[boristhespider88]

I was mailing some coins to a member on here (Solid Rolls) and the coins had a FV of something like $0.65 (valued at about... $6 or $7) and the postal clerk said regular shipping was $2 but to insure it would be $10 plus S&H. You can insure coins, but it costs a lot more.

 

[Easy]

How do these sellers get around shipping items like these then? I've always wondered about this. 100 NEW ONE DOLLAR BILLS $1 PACK UNCIRCULATED IN CONSECUTIVE ORDER | eBay

Is it illegal to put money in an envelope an mail it? The better question is where does one get 100- New one dollar bills in consecutive order?

 

[Iron Patch]

How do these sellers get around shipping items like these then? I've always wondered about this. 100 NEW ONE DOLLAR BILLS $1 PACK UNCIRCULATED IN CONSECUTIVE ORDER | eBay

In that situation they probably risk it, as I doubt insurance would cover it. For larger amounts, bigger dealers will have third party insurance coverage. It you read the fine print from couriers, or the post office (USPS/Canada Post for me) you'll see there's a lot that they say that's not covered, but if you ship and insure it, if it's lost they will let you file a claim. So basically they want the discretion of what claims to pay, and it's up to the shipper to make a judgement call a claim would go through. Once you get into higher end stuff it's extremely frustrating and I have sent things valued as high as 4k with only 1k insurance. That was through Fedex, and calling them they said they didn't even want to ship coins or jewelery, but yet they had a special form for me to fill out for watches (which is what I had to ship) and when I got to the depot the person told me I could get 1k in insurance, when I expected nothing from how the phone call had gone. I have filed claims through the post office for lost coins, and there didn't seem to be a problem, but I still don't have a great sense of confidence knowing what the guidelines state. When it comes to shipping valuable items it's all about calculated risk, and that especially holds true if you mail a lot because the price to insure can be much more than accumulated losses over time, so what you do is basically become your own insurance policy and pay for what goes missing with how much you save.

 

[CoinFetcher]

Just use PayPal on eBay and you will be covered. It is very rare they actually. Ever lose anything.

I have shipped exactly 1 penny with the USPS. I had paid for tracking, and confirmed delivery ( it was a recent ebay sell, and my FIRST EVER ebay sale)

2 days go by, and the buyer is biatchin about it not showing up. I told him to look at the tracking info I gave him.

long story short - the coin was at a sorting facility for 6 weeks before it was reported as 'lost'.

Ebay reimbursed the buyer, and I got to keep my ~20 dollars - who knows where the hell the coin is. The buyer was a HUGE pain in the neck. Once I dropped it in the mail, it was literally "Out of my hands" - and the buyer didn't understand that.

so I have, currently a 0% success rate mailing coins. This is change soon though ( I have a lot to get rid of)

 

[agme]

I have shipped exactly 1 penny with the USPS. I had paid for tracking, and confirmed delivery ( it was a recent ebay sell, and my FIRST EVER ebay sale)

2 days go by, and the buyer is biatchin about it not showing up. I told him to look at the tracking info I gave him.

long story short - the coin was at a sorting facility for 6 weeks before it was reported as 'lost'.

Ebay reimbursed the buyer, and I got to keep my ~20 dollars - who knows where the hell the coin is. The buyer was a HUGE pain in the neck. Once I dropped it in the mail, it was literally "Out of my hands" - and the buyer didn't understand that.

so I have, currently a 0% success rate mailing coins. This is change soon though ( I have a lot to get rid of)

That stinks C-F. Just want to add, first most e-bay deals go smooth, BUT every once in a while I'd have a buyer say that they never recieved the item, or it was damaged in shipping, back then I had to give there money back. You never know.
But in your case, instead of beginers luck I'd say you had beginers "bad luck", so hopefully that is behind you now and future transations will go smoootth...
GL and HH!

 

[mercury1]

How do these sellers get around shipping items like these then? I've always wondered about this. 100 NEW ONE DOLLAR BILLS $1 PACK UNCIRCULATED IN CONSECUTIVE ORDER | eBay

Perhaps the seller on eBay could clear this up. I suspect a seller would have to be prepared to explain to some government authority that the item in question had some collector value to it.

 

[boristhespider88]

Is it illegal to put money in an envelope an mail it? The better question is where does one get 100- New one dollar bills in consecutive order?

snopes.com: Sending Cash by U.S. Mail - Is It Illegal?

It's not illegal, just stupid.

Stupid as in, "Dang they lost my envelope, and there is no way to trace it back to me."

And you can get them from the bank.

 

[CoinFetcher]

snopes.com: Sending Cash by U.S. Mail - Is It Illegal?

It's not illegal, just stupid.

Stupid as in, "Dang they lost my envelope, and there is no way to trace it back to me."

And you can get them from the bank.

hahah, I sent my little coin in a Chase bank envelope. perhaps that had something to do with it disappearing.

 

[boristhespider88]

hahah, I sent my little coin in a Chase bank envelope. perhaps that had something to do with it disappearing.

I don't like to laugh at the expense of others, but I chuckled a little at that.

If I ever send something like that, I put it in a little bubble mailer or one of the envelopes that the post office sells.

 

[Coppercrazy]

ANYTHING I sell that can fit a bubble mailer goes in the bubble mailer.

 

[MrSchulz]

I ship all coins under $5 value with a postage stamp in a 2x2 in a regular envelope. All coins over $5 value I ship in a bubble mailer for $1.75

 

[Coppercrazy]

I ship all coins under $5 value with a postage stamp in a 2x2 in a regular envelope. All coins over $5 value I ship in a bubble mailer for $1.75

I don't ever sell anything under $5 because it isn't worth my time to me.

 

[Easy]

Here is a tip. If its under 5 bucks it's a pretty low risk transaction. Just send with a stamp if you can.If its over 5 bucks you can mail it in a padded envelope/bubble mailer for 1.74 with tracking up to 3 oz. Pay and print online.

 

[MrSchulz]

I print my labels. I make most of my money through small transactions. There alot safer.

Here is a tip. If its under 5 bucks it's a pretty low risk transaction. Just send with a stamp if you can.If its over 5 bucks you can mail it in a padded envelope/bubble mailer for 1.74 with tracking up to 3 oz. Pay and print online.

 

[MrSchulz]

I don't ever sell anything under $5 because it isn't worth my time to me.

For now I do most of mine under $10 in value. It helps me build up a larger feedback. I sell mostly lower end coins. I've had a few coin sent and certified and resold them.