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 Replies: 20 / Views: 5,974 |
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Pillar of the Community
Canada
2984 Posts |
I am considering selling my gold Superman but how do I insure it? I studied all the listings for the coin on ebay and they all say insurance is included. But Canada Post say there is a limit of $500 insurance on coins. Apparently most of the sellers have no idea of this limitation. Edited by MoneyPenney
09/24/2013 5:09 pm
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Pillar of the Community
Canada
1528 Posts |
had you ask fed ex and ups? you should post this in the ebay section and someone might able to answer that Edited by Lostwords
09/24/2013 3:25 pm
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Valued Member
United States
380 Posts |
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Pillar of the Community
 Canada
2984 Posts |
Fedex has a simiar limitation of either $500 or $1000 for coins. UPS won't even insure for that amount unless they pack it themselves.
A lot of sellers don't know of these limitations as they are shipping these expensive coins with insurance that won't reimburse them for the full value.
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Pillar of the Community
Canada
1461 Posts |
You can insure Canada post up to 5K. The amounts will vary with service.
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Pillar of the Community
Canada
2984 Posts |
^^^^^^ From Canada Post: Quote:
b) The maximum amount payable by Canada Post is:
i $500 for shipments containing coins, jewellery, manufactured and non-manufactured precious
stones and metals, cancelled or uncancelled postage stamps, and reissuing fees (passport fees,
duplicate passport photo cost, immigration visa fees, driver's licence fees, birth certificate fees,
financial instrument cancellation fees, airline tickets reissuing fees and additional postage fees). Edited by MoneyPenney
09/24/2013 5:05 pm
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Valued Member
Canada
319 Posts |
It should be covered under PayPal Sellers Protection if you have signature required and if there is a signature on the other end if you have any sort of dispute. PayPal will only help if there is a signature... But not sure if they would actually cover the full amount if there were an issue...  |
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Pillar of the Community
Canada
1461 Posts |
I noticed that statement on the CPC site as well. In the past it was only included in the "registered mail" section. Looking at it today it seems now it's also included under the Expedited shipment methods. Most coin dealers (myself included) don't worry about it since most will use private insurance to cover off any shipping losses. It's also what many of the Canadian Bullion dealers do shipping larger shipments via Fedex for $20 bucks. Either way, if you're ordering a coin online, the burden of that delivery or a claim falls on the person shipping it to you. If they didn't insure it high enough, it would be their loss.
Edited by TheCoinHunter
09/24/2013 5:35 pm
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Valued Member
Canada
109 Posts |
Interesting..CanadaPost now insures coins up to $500?. The last time I checked they did not insure collectibles at all. Can you post a CP link MoneyPenny?
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Pillar of the Community
Canada
541 Posts |
there is no adequate coverage for valuables including costly coins over a few hundred dollars by Canada Post....eBay buyers are protected by Paypal but Sellers always ship at their own risk......Using registered mail to ship coins is also not allowed by CP. You have to ship by Express Post with an added signature required to give the best chance of delivery but even that is not insured past 200 I believe...Im not sure about FEDEX or similar carriers...ive never had mail loss with Canada Post tracked postage yet in over 14 years shipping ebay items....could be luck! |
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Valued Member
Canada
234 Posts |
ask a local dealer how they do it, might be helpful
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Moderator
 Canada
10463 Posts |
Fed-Ex. If Sandy Campbell (Proof Positive Coins) uses it for shipping his coins, then you know not only is it insured, but it is reliable, considering the value of the coins he sends to PCGS. The Royal Canadian Mint also uses Fed-Ex to ship monster boxes of bullion to dealers across Canada. Canada Post and USPS are really, really bad for cross-border shipments - registered mail is meaningless. See this older thread: https://goccf.com/t/129487"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2984 Posts |
Edited by MoneyPenney
09/24/2013 7:40 pm
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Pillar of the Community
Canada
1461 Posts |
Cassidy77....You are allowed to ship valuables including coins and jewelery within Canada using registered mail. You are not allowed to do it internationally. The international piece (other than US) is a problem for many small collectible items which I am currently trying to address with CP. Basically if it's a Banknote it's considered paper and can be registered as lettermail but a coin can't. How is that for common sense? Most, if not all, mail services around the world now allow shipping items other than paper as registered mail (albeit limited in insurable value) as long as it fits the size. Canada only has the tracked packet product which for all intensive purposes is useless.
Edited by TheCoinHunter
09/24/2013 8:44 pm
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Valued Member
Canada
109 Posts |
Thanks MoneyPenny, 20.4b
Has anyone on this forum made a claim with CanadaPost for loss or damage on a coin?
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Pillar of the Community
Canada
1751 Posts |
Check out ship insurance, I used it once. I read about it on the ebay forums. It seems several sellers use them. There's a lot of good info on ebay forum. |
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Replies: 20 / Views: 5,974 |
Posted 09/24/2013 3:42 pm
