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 Replies: 9 / Views: 3,091 |
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New Member
Canada
24 Posts |
Can anyone please recommend a private shipping insurance that I can use to ship coins from Canada? I've been stumped and frustrated by this many times. Insuring with Canada Post is wickedly expensive. At least they now officially "allow" people to ship coins in the mail, unfortunately the maximum insurable value is only $500 Canadian. The maximum insurable on a Tracked Packet to the USA is $100!? What's that about? I would think at the crazy rates the charge they would make a mint on additional insurance. But I digress.
I'd always understood Shipsurance insured coin shipments and Canada Post packages, unfortunately since last I checked they have broken into 2 companies and the sister site which handles lower volume and individual shipments clearly states that coins are omitted from coverage.
I've found one that deals specifically with coins, collectables, art ect. , recommended by one of the American grading company's. Coin specific which is great!..... of course they only deal with packages from the States.
Surely someone else has gone down this hole?
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Pillar of the Community
Canada
1505 Posts |
I was going to recommend shipsurance, thank you for posting this, if you find something please update the thread, I don't need insurance very often, but it was nice to have a known company, too bad they don't do it anymore.
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Pillar of the Community
 Canada
5394 Posts |
Hugh woods get the info at Money.org website of the American Numismatic Association .
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New Member
 Canada
24 Posts |
Surely Purely. I actually sent them an application for service this evening even though I'm not a volume shipper. I'll let you know if they can shed any light on the matter.
I'm like you Purely, don't often need to worry about coverage, but on the occasion that you do sell that high value item, the piece of mind is definitely worth it. I just wish I could find "it." It sure seems like there's a gap in the market here. Anyone interested in bankrolling a new insurance company? Kickstarter maybe....
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Valued Member
Canada
320 Posts |
Canada Post allows you to ship Coins now? I was always told that they don't. My local CP said its considered money laundering... I said it seems ridiculous that you can lable it money laundering when I'm litterly shipping pennies and nickels.
Can anyone else confirm that Canada Post does indeed allow and insure shipment of Coins?
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Moderator
Canada
10456 Posts |
Hugh Woods covers shipping losses above where Canada Post does not. But, as any third party insurance company, it is not cheap.
"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
2495 Posts |
I'd recommend ParcelPro.
It's very costly but completely safe.
Their rates aren't that expensive, but they do stipulate sending the parcel FedEx Overnight (which is the expensive part).
I use to work in the diamond business and we used ParcelPro when shipping diamonds (10K to 100K values) to the US and Great Britain. In six years we had two lost deliveries and ParcelPro came through every time with the insurance claim.
Using ParcelPro would be for shipments into the thousands of dollars.
Under $1000, I'd recommend just using Expresspost.
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Pillar of the Community
Canada
3234 Posts |
Quote:
In six years we had two lost deliveries and ParcelPro came through every time with the insurance claim. So sad to hear....I guess that when you mail off diamonds,..it sends off alarm bells to all of the bad guys that are lurking everywhere.. They must have people on the inside that tip them off.. ..still very scary and nerve racking when great value coins are sent off in the mail.. Who wants "the money" when the rare toys are gone......... |
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New Member
Canada
24 Posts |
Thanks for the replies everyone! I'd never heard of ParcelPro before. I'll check them out when next I have a $20,000 coin or a mitt full of diamonds to ship, ha!
I am 99% sure XWL, that Canada Post actually changed their policy a couple of years ago.....maybe not quite that long. Around the same time they started offering Tracked Packets and announced phasing out door to door service. Also, I just had the conversation with my post mistress about insurance to a maximum of $500 for coins, jewelry watches ect. If they know that they insuring them they must allow their shipment. Confirmation though is always helpful.
So a Shipsurance rep wrote me back today and referred me to Insurepost the sister site, which I assumed they would. Although to my surprise he also stated in the email, with triple asterisks even, that collectible coins are available for coverage!
This is from the InsurePost site: " What items can I insure?
The following list of items are NOT ABLE TO BE INSURED by InsurePost.com.
Accounts, bills, currency, cash in transit, evidence of debt, checks, money orders, COD payments, coins (collectible coins are not excluded), securities and other negotiable papers........"
Clearly there is a reason I never became a lawyer, because to me that reads that "collectible coins are not excluded" from "NOT (BEING ABLE) TO BE INSURED." Am I crazy? Anyway, it looks like there may be hope. another bonus is that you can send coins via Small or Light Packet (for about 1/2 the cost of a Tracked Packet, with an acceptance stamp from the Post Office as proof of shipment. I love that. I am going to contact them directly tomorrow to confirm and will keep you all posted.
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New Member
Canada
24 Posts |
I have heard back from InsurePost today and indeed they do offer coverage on "collectible" coins. The rep. said that what constituted "collectible" was any coin that is worth more than its intended or face value. Also, many forms of Canada Post shipments are available for coverage as I mentioned earlier. Insurance is bought in packets of $100 of coverage. You can get one time instant insurance or sign up for reduced rates, both quite reasonable I thought. Shipsurances policy regarding collectible coins is the same for folks shipping 1000's to 10's of 1000's of parcels each month.
Hope someone finds this post helpful. I have. Thanks to those who replied. With Canada Post to $500 of coverage, InsurePost to $1000 and Hugh Woods or ParcelPro beyond, that's a pretty nice umbrella. That means a good nights sleep for me.
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Replies: 9 / Views: 3,091 |
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Posted 01/20/2016 01:44 am
