Sending Coins Through the Mail

By Steve Watson

Buying and selling coins by insured or registered mail is still my favorite way to build my collection.  Here in Chicago, as in many places, local dealers rarely have the coins I want in the grades I want, and some of them act like they are doing you a favor by just letting you into their shop.  In over 30 years as a collector, I have never lost a single coin in the mail.  Granted I know a few collectors and dealers who occasionally get a damaged or misplaced package, but every single one of them have been reimbursed for any losses by the U.S. Postal Service.  So although you won’t lose any money by insuring your coins, it is still a good idea to package coins correctly so that you don’t have to go through the unnecessary inconvenience of  having to file an insurance claim and wait 30 days for reimbursement.  Five simple rules:

  1. If the coins are valuable, make sure each is in it’s own 2x2 holder or envelope, or coin album.
  2. If it’s only a few coins, place the coins in their 2x2 holders between two sheets of cardboard and      tape these together.  Or used Safe-T-Mailers, which are self-sealing.  Then place in a pre-addressed standard envelope, and seal the back preferably with brown reinforced packaging tape.
  3. If shipping more than a few coins, use bubble-light or cushioned envelopes, sealed with brown reinforced packaging tape or strapping tape.
  4. If sending coins that weigh over one pound such as rolls and bags, place in a sturdy box, and seal with brown reinforced packaging tape.   Contact your post office or toll free number for questions.
  5. Always insure/register and you can ‘t go wrong.

Even the Hope Diamond, worth millions of dollars, was sent by registered mail, as museum officials knew that each and every person who touched it had to sign for it, so it could always be traced and found.

 

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