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Price Of Coin For Insurance

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Valued Member
nelson9225's Avatar
270 Posts
 Posted 04/13/2012  2:51 pm Show Profile   Bookmark this topic Add nelson9225 to your friends list Get a Link to this Message Number of Subscribers
Good day everyone
I have one of only 2 ICCS MS66 1982 small bead 50cent pieces. They are not in the Charlton catalogue.
my question is this, what do I insure it for?
One of the reputable shops here in Canada offered me $700 for it but with nothing to compare it to I'm unsure if thats an accurate price.
any thoughts?
sincerely N

Price-Of-Coin-For-Insuranceelson
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John1's Avatar
United States
56855 Posts
 Posted 04/13/2012  2:58 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF. Hard to say, in MS65 it lists at $320. How do you know there are only 2 known? Is that 2 known at ICCS or in the world?
John1
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nelson9225's Avatar
270 Posts
 Posted 04/13/2012  3:10 pm  Show Profile   Bookmark this reply Add nelson9225 to your friends list Get a Link to this Reply
It's the only 2 from ICCS JOHN1. I don't know for sure if there are any others out there.
But if you try to find one on line its not possible.
thank you for your opinion
your friend in collecting
nelson
Valued Member
Australia
146 Posts
 Posted 04/13/2012  10:07 pm  Show Profile   Bookmark this reply Add huckles888 to your friends list Get a Link to this Reply
to justify an insurance value you will need some sort of "written" valuation from a reputable source - normally "full" catalogue value as a minimum would suffice - but for items without a "catalogue" value you would need a valuation from a reputable company that is acceptable to your insurance company - am going through an insurance value process myself as I have just started to formally and properly catalogue my collection and am way north of general value limit under normal contents insurance policy with quite aways to go before I finish the cataloging process
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sel_69l's Avatar
Australia
21786 Posts
 Posted 04/13/2012  11:00 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I wouldn't bother with coin insurance.
Get a decent fire proof safe instead. That is a 'one off' investment only.

I went through the exercise of costing insurance once.

Several problems:
Because my collection is always growing, the company wanted it re valued on an annual basis. They wanted an independent third party professional numismatist to value it. That was going to cost me with premiums and valuing fees, about 8% of the value of my collection per year.

That is what I call an exercise in futility.
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