Do you Need Insurance for Shipping Precious Coins?

Posted by Benjamin Meskin on Jun 24, 2021 9:00:00 AM
Benjamin Meskin

Precious coins, such as the Walking Liberty Half Dollar, can significantly range in value. If you collect these coins or sell them regularly, you want to ensure that they arrive on time in the exact condition you packed them. Since many historical coins are irreplaceable, you should always get insurance when shipping precious coins.


In this guide, we will take a closer look at why shipping insurance is so vital for collectible coins, how this insurance protects your shipment, and how to find the most reasonable and reliable insurance rates for shipping gold safely.

 

Collection of coins

 

How to Ship Gold and Silver Coins Securely and Successfully

When you send valuable coins through the mail, you need to be sure they will arrive as intended. Although there is already a chance of loss, if packages are not shipped properly, the chances of loss only increase. And if you are selling a rare coin to a client, you don’t want to take a chance on losing out on a sale and your collection.


Here are a few reasons why shipping insurance for high-value items is crucial for coin collectors and how you can safely ship gold coins by purchasing the right insurance.

 

Person examining their precious coin collection

 

Why Shipping Insurance is Important to Coin Collectors

You can have a lot of success selling gold and silver coins to other collectors worldwide. However, there is a high risk of something going wrong with shipping collectible coins or anything valuable. 

 

Unlike fragile items, coins are easy to pack safely so that damage is less likely. But because they can be placed in smaller boxes or envelopes, they are also easy to become lost in the mail or, in worse cases, stolen from mailboxes, drop-off locations, or in general throughout the course of transit.

 

If you want to continue selling and shipping coins, you’ll want to earn the trust of your clients by offering a replacement or refund on lost or missing items. Most rare coins cannot be replaced, leaving those who sell collectible coins with only one option to satisfy their unhappy customers, issuing a refund. 


The good news is that the problem becomes a bit more manageable if you purchase the right insurance for shipping gold, silver, and precious metals.

 

Collection of gold and valuable coins

 

Insurance Coverage for Shipping Valuable Coins

With most shipping providers, you can choose the amount of coverage you need based on the value of your item. Then, if something goes wrong, you can file a claim and be reimbursed for the money you had to refund right? Not necessarily… There are several factors to consider. First, major shipping carriers have exclusions on certain commodities (coins and precious metals being one of them). Second, carriers will adjust based on your cost, subject to you having that documentation. In other words, if you purchased a coin for $1,000 and sold it for $2,000, in all likelihood, when insuring with a carrier and assuming they include coverage for that commodity, you would only be reimbursed the $1,000 that you paid for it. Even then, the claims process can be slow and tedious. Let’s face it, trying to collect $20,000 from a shipping carrier would be an uphill battle, to say the least.

 

Cabrella’s offers some of the most affordable shipping insurance options in the industry. You can use Cabrella to ship and insure your packages while saving as much as 90% on your insurance costs. To add a further layer of protection and security, we offer specially designed lock boxes for shipments containing valuables. Coverage is available for parcels going to 182 countries and is offered up to $150,000 per package.

 

How Shipping Insurance can Protect you and the Precious Coins you Ship

With the correct type of shipping insurance, you can be protected from accidental package loss or theft. This service can also help keep you in good standing with your clients and even help you gain more business because other collectors will see that you are a reliable seller who stands behind their shipments.

 

When you purchase shipping insurance for high-value items, you have the assurance that you will be financially protected if something were to go wrong. And while it cannot guarantee your buyer will receive the coin they wanted, doing so will help with losing both the item and the sale.

 

Man using Cabrella shipping insurance software to send a package

 

Trust Cabrella’s Shipping Insurance for all Your Gold and Silver Coin Shipments

When you need to protect a valuable shipment that is collectible and irreplaceable, you can trust Cabrella to help you every step of the way. With reasonable shipping rates that will save you money, as well as easy-to-use technology options, you can be assured that you have chosen the right insurance coverage at the right price. Cabrella also offers some of the absolute best customer services in the industry, providing you with the peace of mind you need from the time the package leaves your hands until it arrives at its destination.

 

Shipping Insurance Software for Valuables

At Cabrella, we can offer you an intelligent shipping resource for your valuable coins and other collectible items. We have created a reliable solution to help make your insurance costs more affordable and provide you with peace of mind that your packages are safe and easy to track.


By requesting a demo of our shipping insurance dashboard, our team will provide you with an overview of how to ship and insure with Cabrella as well as use our risk management data and gain benefit from our easy-to-use notification system that will help you keep track of where your package is at all times. This is extremely useful when shipping a package overseas or something that you couldn’t easily replace. In addition, it assures the buyer because it keeps them updated with tracking numbers and other helpful information.

 

People digitally tracking their shipments around the world

 

Why Choose Cabrella?

Our easy-to-use automated claim filing process is much more advanced than what’s offered by any carrier. You can quickly type in all your information, checking for mistakes as you go. Then, you can give a thorough report on the contents of your shipment, the value, its destination, and more, all on your schedule. Once done, you can easily track time frames from claim filing to adjustment and payment, communicate with our adjustment staff, upload documents, review checklists, and more. No more having to wait on hold to speak to a customer representative during regular business hours for UPS or USPS to file your claim.

 

The revolutionary Business Intelligence feature that we offer guarantees that your package can be insured when shipped through practically any carrier out there. Because many block policies only allow the usage of USPS, many shippers only use the Postal Service as their carrier. But when you use Cabrella, you still have the option to choose from all the major carriers.

 

With additional features like Risk Analysis, you can use our proprietary data to help you make decisions on the safest way to get an item from point A to point B. These features can help you determine if you need to switch to a different shipping carrier, a faster service, or perhaps ship your items so that they are held for pickup if the destination area is high risk. Further, clients can use our database to cross-check buyers and find out if there have been any other claims associated with a particular buyer or address.

 

Find Out More

To learn more about our shipping insurance options for shipping gold safely and other valuable items, visit our website, or contact us today for assistance. Our team of professionals will be happy to answer any questions you may have about our coverage options and the claims process.

Tags: Shipping Insurance, collectibles

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