Many people collect precious metals as a hobby, while others might be investing in gold and silver coins or other bullion as a means of ensuring a stable financial future. No matter what your motivations are, investing in this kind of commodity means dealing with unique requirements. It is no different when it comes to shipping your items domestically or internationally.
Buying or selling gold is an international business, which means these precious metals need to be shipped carefully around the world at a moment’s notice. Whether you store your gold at your home, in a bank safe deposit box, or at a third-party storage firm, you’ll still need to find a way to safely ship those items when you want to move or sell them.
Here are six tips you need to know to safely shipping gold wherever you need it to go:
1. Know How Much Your Shipment Will Weigh
In addition to postage, most carriers require you to purchase insurance based on the weight of your package. Shipping small items like gold coins or bigger items like a gold bullion bar will determine the type of shipping container you will need in addition to how much it might cost to ship.
2. Package Your Items Safely and Securely
Many shipping carriers will require precious metal shipments to be in a double walled box. Additionally, you don’t want it to be obvious there are valuable items in this container- when packing your coins or bars, make sure they do not rattle or jingle when moved. Do not write what the box contains on the outside of the box. If you use the Post Office, a flat rate box can be incredibly useful for smaller gold items.
Paper tape or filament tape is incredibly useful for securing the outside edges and seams of boxes. These can be used to reinforce boxes for added security during transit.
3. Purchase Insurance
Always insure your precious items for their full value when shipping them. If something were to happen, you will at least be able to be financially compensated for your loss. Jewelry shipping insurance can be purchased from the postal carrier you use, but make sure they are able to insure your package for its full value. You can also purchase shipping insurance through a third-party carrier, like Cabrella, who specializes in insuring precious materials like collectible coins.
4. Ship Your Items With a Carrier You Trust
Select a carrier who will provide a tracking number and other security measures to ensure your package gets where you need it to go safely and securely. If you are shipping internationally, carriers like FedEx or UPS have offices around the world and can often get packages shipped priority mail to their destination within 24-48 hours.
If you are shipping large or more valuable items, an armored car service like Loomis or Brinks may be a better option. This is beneficial for shipments of precious items valued at $100,000 or more. This is a high-security option for people who may be shipping gold or other precious items commercially.
5. Make Sure You Have a Way to Track Your Packages
If you use the Postal Service’s Registered Mail service, custody of the package is handed off from agent to agent until it reaches its destination. This means if something does happen along the way, the Post Office has a way of tracking exactly where your package went missing. A tracking number is helpful when tracing your package if you’ve shipped it domestically or internationally.
6. Ensure the Safe Delivery of Your Package to its Intended Recipient
This can be accomplished by requiring a signature upon delivery. This ensures the right person gets your shipment promptly. Always know how many business days it should take for your package to arrive. If it doesn’t arrive in an expected time frame, contact your shipping carrier’s representative to resolve the issue.
Cabrella’s team of shipping insurance experts can help you with your domestic and international shipping needs, including creating customized coverage to protect your high-value items from Point A to Point B. Click the button below to receive a quote from our insurance professionals today!