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Ebay Sellers - At What Price Point Do You Insure Your Coins?

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NYBrian84's Avatar
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 Posted 07/07/2012  12:14 pm Show Profile   Bookmark this topic Add NYBrian84 to your friends list Get a Link to this Message Number of Subscribers
Hey everyone, I was just wondering at what price point do you insure your coins that you sell on ebay? $50? $75? $100? $150?

I know ebay has a policy that in order for sellers to be covered, anything over $250 has to be insured and have signature confirmation, but does everyone stick with that?

I started off with selling acid treated nickels which sell for $10-20 each, so I don't bother insuring them, but I'm starting to sell slabbed coins in the $50-200 range.

Thanks for any input.

Brian
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basebal21's Avatar
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 Posted 07/07/2012  1:45 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Personally I dont insure a whole lot. If its 300 400 bucks I will but the post office fights their hardest to never pay out an insurance claim and when they do it takes months so I dont really see the point. I always use tracking on what I ship though and sometimes signatures as well which covers you as a seller.

But I would say this since the insurance cost can get pricy it is cheaper over time to lose a 80 dollar package or two than to be insuring 50 items. That said I would insurance anything that if it got lost you wouldnt want to have to deal with the lost cost or couldnt afford to deal with the cost
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oih82w8's Avatar
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 Posted 07/07/2012  2:47 pm  Show Profile   Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
I don't have a whole lot of stuff to sell anymore, but my rule of thumb was anything $100 or more. Delivery Confirmation is a MUST though.

I just picked up a couple of PCGS MS66 (no FS) Jefferson War Nickels and the seller Insured them ($50-ish value for the Nickels)
Edited by oih82w8
07/07/2012 2:49 pm
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vermontensium's Avatar
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 Posted 07/07/2012  2:53 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
$50 for me. Anything from $20-50, DC.
Anything below $10, 65 cents first class rigid envelope and take my chances.
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NYBrian84's Avatar
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279 Posts
 Posted 07/07/2012  3:00 pm  Show Profile   Bookmark this reply Add NYBrian84 to your friends list Get a Link to this Reply
Thanks for the input so far. I kept telling myself $100+ for insurance in my head, but as I was printing a label for an 1913 T2 PCGS MS63 coin I sold for $75, today, I ended up adding insurance. I think I'm going to stick with $100+ and make the buyer pay (as part of the quoted shipping). Anything less, it won't kill me to pay out of pocket because in all the packages I've shipped, not one has been lost (delayed, and temporarily lost, but never actually lost).

I'm not sure if anyone was aware of this, but when you go to print out a label using eBay/PayPal, they give you two options to insure the item. One is USPS and the other is some 3rd party company (which is a good bit cheaper). I read the user agreement with the other company, and it said that coins and bullion are NOT covered. Just a heads up if anyone was using that for insurance.
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BH1964's Avatar
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 Posted 07/07/2012  3:34 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
I know ebay has a policy that in order for sellers to be covered, anything over $250 has to be insured and have signature confirmation, but does everyone stick with that?


This is incorrect. ebay does not require insurance. You do need Signature Confirmation on items over $250 for Seller's coverage on a possible charge-back however.

I insure over $100 but not always for the full amount. An example would be a $400 item that I might insure at $250.

I have never had an item lost or stolen in hundreds of transactions. I package well and have the item scanned to activate the insurance (when applicable) "in my presence" for peace of mind.
ANA #R3154474
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joeturbo26's Avatar
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 Posted 07/09/2012  3:15 pm  Show Profile   Bookmark this reply Add joeturbo26 to your friends list Get a Link to this Reply
I insure 50+, BUT, I often sometimes just follow a gut feeling and will do random insurance like the TSA does random searches .... especially if a buyer goes a long time without paying, I almost always insure the item... it may be silly, but I feel like there is a correlation between hesitating payment and someone who didn't really want the item.....
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basebal21's Avatar
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 Posted 07/09/2012  5:51 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Slow payment has to be my ebay pet peeve from a buyer standpoint. I can understand if you put in an early bid and win but dont understand why you would bid an auction at the end win the bidding war then wait days to pay
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joeturbo26's Avatar
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 Posted 07/09/2012  6:12 pm  Show Profile   Bookmark this reply Add joeturbo26 to your friends list Get a Link to this Reply

Quote:
why you would bid an auction at the end win the bidding war then wait days to pay




drives me insane!

I tend to be a drop OCD as a seller though--so I am sure what I am about to say is not the norm, and its silly...but.... I also wish you could print a shipping label, and NOT have the item marked shipped in tern alerting the buyer.

I am sure most ship after payment is received, but I like to print postage ASAP. LOL
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NYBrian84's Avatar
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 Posted 07/09/2012  6:19 pm  Show Profile   Bookmark this reply Add NYBrian84 to your friends list Get a Link to this Reply

Quote:
why you would bid an auction at the end win the bidding war then wait days to pay


While it also bothers me when it takes people a while to pay, I understand bidding at the last second and not paying. I have a couple auctions that ended on the 4th, and I still haven't received payment on two of them. THAT I don't understand.

It doesn't bother me until it is 24 hours or more since they won. You guys have to realize that A LOT of people use sniper programs (myself included) that bid with 6 seconds or less left.
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joeturbo26's Avatar
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 Posted 07/09/2012  6:23 pm  Show Profile   Bookmark this reply Add joeturbo26 to your friends list Get a Link to this Reply
Oh NYBrian so that was you with my 21-S then huh? Lol I'm kidding....

I once had a woman tell me (something non numismatic)...verbatim..."oh yeah I'll pay you in 21 days when I get paid...do you have anymore in the meantime" LOL
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basebal21's Avatar
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 Posted 07/09/2012  6:25 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
drives me insane!

I tend to be a drop OCD as a seller though--so I am sure what I am about to say is not the norm, and its silly...but.... I also wish you could print a shipping label, and NOT have the item marked shipped in tern alerting the buyer.

I am sure most ship after payment is received, but I like to print postage ASAP. LOL


Me too once it sells I want to get it shipped as soon as possible and be done with it so I will print the label right away too.

I always pay right away when I buy since I know I would want the same treatment when I sell and definitely make an more of an effort to ship as soon as possible for buyers that do. Sometime I will even go to the main post office by me for those buyers which saves them a day of shipping time, if you wait days though Ill drop it off where ever I'm closest too.

You can use the USPS website to do the online shipping there it might be a tad more expensive but still have free tracking for priority mail and doesn't mark anything on ebay. I always mark it shipped right away now and post the tracking since ebay dings you if you dont post tracking fast, but I also either drop it at the post office that night or the next morning depending on when it sold.

I also hate how the tracking on ebay will still show the package hasnt been dropped off even though if you go to the usps sight its being processed and tracked
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joeturbo26's Avatar
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 Posted 07/09/2012  6:29 pm  Show Profile   Bookmark this reply Add joeturbo26 to your friends list Get a Link to this Reply
basebal we are all over the same posts today huh? LOL


Quote:
I also hate how the tracking on ebay will still show the package hasnt been dropped off even though if you go to the usps sight its being processed and tracked


according to my neighbor, who works in the main NYC Post Office, that is entirely the postal services fault as they are notorious for just not scanning from point to point.
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basebal21's Avatar
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 Posted 07/09/2012  6:39 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:

according to my neighbor, who works in the main NYC Post Office, that is entirely the postal services fault as they are notorious for just not scanning from point to point.


Sometimes they wont but have you ever noticed how it will work on the USPS site as it is being scanned it just doesn't show if you click the ebay version of it. For whatever reason the info doesn't get transferred from USPS to ebay or the link doesn't work.


Quote:
It doesn't bother me until it is 24 hours or more since they won. You guys have to realize that A LOT of people use sniper programs (myself included) that bid with 6 seconds or less left.


I understand that, if they pay by the next day I figured thats what they do. I've had some sit for a week before and actually had one that never got paid for so long I had to have it canceled and relist. The worst part was they had outbid someone else so I would have rather taken a dollar less and had it sell then
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joeturbo26's Avatar
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 Posted 07/09/2012  6:45 pm  Show Profile   Bookmark this reply Add joeturbo26 to your friends list Get a Link to this Reply
I have noticed what you talk about. You know what helps? I don't know if you're using an iPhone or iPad, but the USPS App, is actually incredible. All you do is scan the barcode with your device and it automatically stores every scanned barcode, when you open the app it updates every status.
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basebal21's Avatar
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 Posted 07/09/2012  6:48 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Im actually a blackberry man myself. The emails as text messages is just too good to give up.

I do have a USPS account that has all my numbers stored in past orders which is nice. Sometimes ill give email the tracking to the buy and tell them to go to the USPS site if it doesn't show up for to long.

Just seems with how much emphasis ebay is putting on tracking they would make sure their site worked properly for it
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