Shipping Insurance and Bullion Coins

Hello,

I just sent this question over to U-Pic. I'll post again on this thread when I receive a response.

-Mike

Thank you!

I sell Candian Maple leafs and the new 1/2 oz Silver Wolf Dollar. They're all 99.99% pure silver coins. They are defined as coins, as they do have a denomination; so I'm curious exactly how U-Pic defines bullion. I also sometimes sell bullion art rounds and art bars, ususally 1 to 10 troy ounces.

The classical definition of bullion is precious metal in ingots and bars.

I see that "money" is also on the excluded list, so is that another gotcha? Coins are money.

If I recall correctly, the "out" for that is if they're collectible items. I remember this came up for sure about stamps and I think coins as well..

Rick,

My concern is in the definition of coverage and exclusions. The USPS has NO EXCLUSIONS in their shipping insurance.

USPS Insurance Link

The U-Pic Plan seems to have alot of exclusions and some vague or up for interpretation language.

Auctive/U-Pic Coverage Rules

The edorsements for coins and jewelry are helpful, but not entirely clear. What's considered "collectable". By definition, any coin is collectable, but varies in value according to rarity and condition. Here's the sections:

* Endorsement for Collectible Coins
Effective 11/4/2004, it is hereby agreed and noted that U-PIC will provide insurance coverage on the shipping of rare, collectible coins. U-PIC will not provide coverage for items shipped to the following zip codes: 10036, 10017, 94102 and 94108.

* Endorsement For Fine Jewelry Shipping
Effective 11/4/2004, it is hereby agreed and noted that U-PIC will provide insurance coverage on the shipping of fine jewelry. U-PIC will not provide coverage for items shipped to the following zip codes: 10036, 10017, 94102 and 94108.

So, can't get insurance to ship to China Town in San Fran? That's interesting.

Dan

Any update from U-PIC?

Dan

Hi Dan,

Yes...they will insure collectible coins including gold bullion. They just will not insure face value money.

-Mike

Thanks Mike.

Dan

the post office gets pretty tricky when it comes to stuff too. for example, can insure checks made out to your company that youre mailing to the head office, but they wont cover the dollar amount, will only cover the replacement cost. (or at least that's what po here told me).

glad to hear that upic will cover collectible bullion coins. figured they would, but you never know...