The U.S. Postal Service is no longer honoring insurance on coins unless they are sent registered mail?
I was in a local coin shop today when the mail man came in. The owner opened a piece of mail from the USPS and read part of it out. The bottom line is that the USPS advised him that they were not honoring a claim against the insurance for a lost package containing coins and that coins are only covered if sent by registered mail!
This is a serious issue and implicit statement that the USPS has no confidence in keeping coin shipments safe. I reckon we ought to consider this risk not just for coins but lots of other valuables. Unfortunately, loss of shipments or items stolen out of shipments is apparently a major issue at the competing shipping services too from reports I am hearing at the local coin club meetings.
If anyone else has any other information or incidents that happened to them related to not being able to get insurance coverage honored from a shipping service please let me know and I’ll add that information to this post.