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 Replies: 18 / Views: 2,293 |
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Moderator
 United States
23522 Posts |
^^ Best first post ever. Welcome to Coin Community, jpol. You're sure starting out on the right foot.
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Pillar of the Community
United States
5618 Posts |
I am of the belief that if a claim is made ALL insurance companies have "a list of 500 reasons why you are not covered".I think that taking pictures of your collection is a great idea.I was informed that by placing your collection on your "home owners insurance" is the best way to cover your self.I would be open to hearing more on this subject as I know there are many of "us" that have a collection or two worth insuring!!  |
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Pillar of the Community
United States
1179 Posts |
Thanks for the info jpol!  Taking pics is a great idea. It is time consuming, but its worth it in the long run. I also have a excel list of every coin I have ever bought and how much I bought it for with grades and all that as well. I believe with this and pictures, I should be covered pretty well. Even though my spreadsheet might be tossed out by the insurance. Having a list like I have also lets me know how much I have spent on my set and if I were to ever sell it, gives me a good ballpark figure to sell it for. Edited by ceaton
01/04/2009 12:05 pm
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Pillar of the Community
United States
1291 Posts |
Wow! Great advice and a great excuse for me to "cozy up" to my coins for a while as I take a bunch of digital photos! Thanks jpol!
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New Member
United States
4 Posts |
Thanks everyone, I'm glad I was able to help. I have been trolling this forum for a couple of months and learned more than I have in 20 years. I finally joined because it's killing me to see some of the things on the for sale forum that I can't buy. Now I just have to get the 50 posts and I get to go shopping.
Thanks again for the welcomes, I'm glad to be aboard. I will try to contribute although I believe my expertise pales in comparison to most already here.
John
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Bedrock of the Community
United States
10284 Posts |
Insurance policies are contracts. The terms of any policy can vary.
Best thing if you want insurance, is to know what you would want to recover if there was a loss of your personal property and explain that to a good insurance agent.
Best place to probably go is to an independent agent who has several different companies he is licensed with to quote you a price.
I was an Insurance agent in a family business long ago and worked for Mom and Pop with my brother.
I am sure that there have been changes since then and probably some investigation with an insurance agency would be the best way to go.
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Pillar of the Community
United States
1121 Posts |
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Bedrock of the Community
United States
19963 Posts |
jpol - Welcome to CC! Sage advice!
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Valued Member
United States
294 Posts |
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Moderator
United States
188952 Posts |
Quote:
I used to do jewelry replacement for insurance companies about 15 years ago, please give me a moment to explain, you will see the connection... Thank you for sharing and to the Community! Edited by jbuck
01/04/2009 9:03 pm
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Valued Member
United States
429 Posts |
My collection is no where near others on this board, but insurance does seem like a great idea, I would hate to have a fire or other event take everything I had and leave me with nothing for all the time put into it.
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Bedrock of the Community
United States
12437 Posts |
Quote:
I was informed that by placing your collection on your "home owners insurance" is the best way to cover your self Almost all homeowners policies are HORRIBLE for collections of any type. What is the deductible on your policy, $1000? $2500? $5000? Most companies want a ridiculous amount of detailed information, professional(read- you have to pay for it)appraisals, etc and some companies will only treat it as a face value cash reimbursement. There are companies that specialize in insuring collectibles and they are generally the best people to have that kind of insurance with. ANA members are entitled to discounted group rates through Hugh Wood. |
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Pillar of the Community
United States
5618 Posts |
Thank-you bio,this subject needs more investigating, Mike...
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Pillar of the Community
United States
2602 Posts |
I think a complete set is actually worth LESS than the sum of it's parts. A lot of folks break up complete sets and sell them coin by coin because they can make more money that way. I'm talking about older sets, like Indian cent, Buffalo nickels. I'm not so sure about the modern sets. |
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Pillar of the Community
United States
581 Posts |
It's becoming common practice on e-bay for sellers to sell "complete" Jefferson or Roosevelt sets minus the 2-4 more difficult coins. Once you get into the older sets it becomes more pronounced. A set missing 15 coins will be called "almost complete".
Also, I know this sounds like a broken record - but with e-bay fees, selling individual coins is an uphill battle unless it's an older set where individual value is non-trivial.
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Posted 01/04/2009 11:52 am
