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Replies: 6 / Views: 10,963 |
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New Member
Australia
9 Posts |
Dear members, I need your help. I have with me a few collectible gold coins which I intend to sell. However, after inquiring with a few couriers services, including Australian Post, it seems none of them could carry coins or bank notes, or bullion etc. Obviously, ebay has some gold coins transactions in the past so there must be some way to send them. My coins are quite valuable and I needed to insurance which further complicates the problem. I tried looking through yellow pages, calling customs, Aus Post, FedEx, all to no avail. Please enlighten me to this one. Thanks! Kind regards, Adrian.
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Pillar of the Community
Australia
1040 Posts |
I think you will find it very difficult to insure if you actually use the term coins, bullion, bank notes. For Australian deliveries, I simply send via registered post and have never lost a package.
For overseas deliveries most members don't actually state specifically what they are sending. If it were a perfect world, there would be no problems, but writing something on a customs declaration that invites theft is not a good idea.
You can send via "international signed for" postage for over seas through Australia post, which will leave a trail as to who has handled the package, and requires a confirmation signature at destination. I have never lost a package this way. As for the description you use, make it as vague as possible, without breaking the law. A customs declaration is a legal document and carries some nasty fines if you lie. However, the interpretation of what you write can be subjective. For instance, many members use the term "hobby supplies" when sending coins. I do, with no problems. Others use "commemorative rounds", "used die stampings", etc. I recently sent a package to a member here with, I think it was, "cultural reference materials", as they all carried an Aboriginal theme to the coins and notes.
If you wish to insure your package, there will be other members here who will be able to help, as I have never done it, as the above methods have always worked for me.
Hope this helps in some way.
Edited by latman100 09/17/2008 04:34 am
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New Member
 Australia
9 Posts |
Thanks for that info Sean. Before actually selling the coins, I would like to send the coins for grading with PCGS first. The coins are already in slabs from another company but I was told it would be better for me overall if I were to get it regraded and put into PCGS slabs. This means that I will have to send to a PCGS Po Box. Can I still use "international signed for" this way? As for insurance, the coins together really adds up to quite a huge sum and insurance is definitely needed. But thanks for the info nonetheless. Selling these coins is trickier than I thought. I inherited these coins from my father who bought it around 20 years ago. Now I'm just trying to get rid of it as the return is certainly less compared to say putting it in a term deposit. Any advice will be much appreciated. Thanks!
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Pillar of the Community
Australia
1040 Posts |
You can send as "signed for" to a PO box, they will put a card in the box so the person has to come into the post office to collect. As for getting them re-slabbed, first who are they slabbed with now? What type of coins are they? If you are thinking of selling here in Australia, slabbed coins aren't as sought after in the same way as in the US. You may be simply wasting your money getting them re-slabbed. The grading system PCGS and all the US third party grading services use is different to the Australian system, and confuses people who are not familiar with it. If the grade stated on the holder is XF 40, and you show that coin to an Aussie collector, they will think you are trying to rip them off, as that coin will only grade to VF here. Your best bet might be to contact a dealer here in Oz who specialises in gold coins. A couple that come to mind straight away are http://www.numismatics.com.au/ and http://www.drakesterling.com/Default.aspxIf you don't have anything particularly rare or sought after, you may be hard pressed to get more than bullion value for the coins regardless of where you try to sell them. If you are worried that you have lost money because of the recent falls in precious metal prices, then don't. You have only lost money if you sell. You need to figure out how much interest you will make from the money in the bank, indexed to inflation, to see how long you need to leave the money there to bring the value back to what it was before gold began to fall. Then you have to decide if gold will bounce back in the time it takes to make that money back. I don't know your situation, but if I didn't need the money, I would be holding on to those coins a little longer.
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New Member
United States
6 Posts |
Here's a radical idea.
The only coins I have ever lost have been in registered and/or insured packages. Since I am not in the business of filing insurance claims I no longer ship coins or have coins shipped that way. I put the coin in a standard cardboard 50x50 holder and tape the holder to a magazine insert - one of those thick pages that exhort you to subscribe or join a book club or whatever. I fold the insert over, trim it to fit in a plain paper envelope and send it ordinary airmail. I have sent and received coins all over the world that way. Works every time.
Yes, I was scared the first few times but for ordinary letters the mail system is incredibly efficient and reliable.
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Moderator
 United States
6563 Posts |
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Pillar of the Community
United States
3098 Posts |
Yup, first you would have to make it registered, which the PO says "all steps along the way are tracked" and is in the US, automagically insured for (10k? or 1k?) a dollar amount. Then, depending on the price you might want to insure it.
Going back, you have to mail it registered because that's the only way to legally mail banknotes, coins, bullion, jewelry etc. I hope you're not paying for the postage!
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Replies: 6 / Views: 10,963 |
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