USPS DOES NOT INSURE BULLION!

[SaltySpitoon]

Look Spitoon, insure your bullion with the USPS. Fine with me, and go ahead and call me a liar. Just don't ask me what I think of your Litecoin silver scheme.

I'm not calling you a liar, misinformed and suborn is a better description. And by me, I mean USPS is. I don't feel it necessary to link to USPS terms again.
There's nothing wrong with spreading a little FUD, but misinforming everyone, and then continuing to stand by your misinformation after a reliable source specifically saying that the info is wrong is a bit whack.

And looking into it more, it actually seems as Coinabul said, Fedex doesn't insure Bullion. http://www.fedex.com/us/service-guide/terms/express-ground/

"Prohibited Items

    You are prohibited from tendering the following items for shipment, and they will not be accepted:

        Cash and currency.
        Live animals, except as provided in the Live Animals and Ornamental Marine Life (Including Live Fish) section. (Edible seafood, such as live lobsters, crabs or other types of fish and shellfish for human consumption, is acceptable, provided the shipper is in compliance with all local, state and federal laws.)
        Animal carcasses. (Animal heads and other parts for taxidermy may be accepted but must be properly packaged. This restriction does not apply to properly packaged meat or poultry products intended for human consumption.)
        Human corpses, human body parts, human embryos, or cremated or disinterred human remains.
        Shipments that require us to obtain a local, state or federal license for their transportation.
        Shipments that may cause damage or delay to equipment, personnel or other shipments.
        Lottery tickets and gambling devices where prohibited by law.
        Hazardous waste, including, but not limited to, used hypodermic needles or syringes, or other medical waste.
        Packages that are wet, leaking or emit an odor of any kind.
        Live insects.
        Shipments or commodities that are prohibited by applicable local, state or federal law.
        Waste or garbage for disposal.

    Notwithstanding any other provision of the FedEx Service Guide, we are not liable for delay of, loss of or damage to a shipment of any prohibited item. The shipper agrees to indemnify FedEx for any and all costs, fees and expenses FedEx incurs as a result of the shipper's violation of any local, state or federal laws or regulations or from tendering any prohibited item for shipment."

[Maniac479]

At one point, I was so interested in this that I actually offered a reward to anyone that had insured bullion with the USPS and whose bullion was lost. If the USPS paid for the insured lost bullion, I offered a reward. No one ever claimed the reward. There was one guy who popped up and said that he had been paid by the USPS for lost insured bullion, but on further inspection he recanted because the bullion was eventually found and so the USPS didn't pay.  He said that he expected to be paid and the USPS was going to pay, but they found his bullion instead. Anyway there was no proof of anything, it was all talk on his part. No one ever came forward who had been paid by the USPS for insured lost bullion and who had proof. This was on a forum dedicated to buying, selling, & trading bullion by shipping it. On the other hand, there were lots of people who'd lost USPS shipped bullion and never got jack.

I am no longer offering a reward.  However if you hear of anyone who has been paid by the USPS for insured lost bullion, I'd like to hear about it.

[johnniewalker]

At one point, I was so interested in this that I actually offered a reward to anyone that had insured bullion with the USPS and whose bullion was lost. If the USPS paid for the insured lost bullion, I offered a reward. No one ever claimed the reward. There was one guy who popped up and said that he had been paid by the USPS for lost insured bullion, but on further inspection he recanted because the bullion was eventually found and so the USPS didn't pay.  He said that he expected to be paid and the USPS was going to pay, but they found his bullion instead. Anyway there was no proof of anything, it was all talk on his part. No one ever came forward who had been paid by the USPS for insured lost bullion and who had proof. This was on a forum dedicated to buying, selling, & trading bullion by shipping it. On the other hand, there were lots of people who'd lost USPS shipped bullion and never got jack.

I am no longer offering a reward.  However if you hear of anyone who has been paid by the USPS for insured lost bullion, I'd like to hear about it.

"I am no longer offering a reward." HAHAHHAHA. Just admit you're wrong, its no big deal. This stupid argument had me so confused. At first I was like "ok, I'll always use UPS when I ship bullion, then I settled for Registered Mail, then I didn't know what to do! I'll go USPS Registered Mail. Sending things like bullion is why such a service exists. Support USPS too-they're not doing too well financially and they were one of the first US government institutions (founded by Ben Franklin). That, and they are an institution which exists to SERVE the people. They have my business everyday, whether I'm mailing a letter or
$1,000,000 in Gold Bullion (via Registered Mail lol).

[grue]

I would find the USPS web page where they say they don't insure bullion, but I've already done it plenty of times on other forums. It's buried on an obscure page somewhere and it's not easy to find. I should bookmark it, but I don't feel the need to prove the point another time. Like I said, go ahead and insure bullion with USPS. It's no skin off my nose!

so you're going to make a claim, but when it comes time to prove it, you simply walk away and say it's true, because you remembered it to be true, all the while ignoring evidence that other forum members provided? i wonder how much education you had.

[jwzguy]

If you've posted this so called "proof" on other forums over and over, go back to the forums, spend 5 seconds searching on your username and "bullion" and repost it.

Otherwise, we heard you the first time, and are unconvinced, no matter how many times you repeat yourself IN ALL CAPS.

[naypalm]

Request to move thread to off-topic.

[ataranlen]

On this link: HERE

Except for Registered Mail, the maximum indemnity for negotiable items (defined as instruments that can be converted to cash without resort to forgery), currency, or bullion, is $15.00
For Registered Mail™, cash can be insured up to $25,000. For amounts over $25,000, the full value must be declared but the maximum insured value is $25,000

Request to move thread to off-topic.

agreed

[J-Norm]

It is true that USPS does not cover bullion, they will however happily sell you insurance for bullion that they know you can never use. There is some confusion because they do cover items of numismatic value such as a rare coin, it does not apply to common bullion.

My strategy is to self-insure. Calculate what you would pay for insurance and instead of buying it put the money in an account. In the event of a lost package you take the money from that fund. You will end up putting more money in that you take out. This is because insurance companies set their rates to make sure more money goes in than goes out.

You can use UPS or FEDEX, but I hate dealing with the way they handle international clearance.

Another option is to use USPS with tracking number and buy insurance from a private provider like shipsurance.

APMEX is insured by Llyod's of London.

[DeathAndTaxes]

It is true that USPS does not cover bullion, they will however happily sell you insurance for bullion that they know you can never use. There is some confusion because they do cover items of numismatic value such as a rare coin, it does not apply to common bullion.

My strategy is to self-insure. Calculate what you would pay for insurance and instead of buying it put the money in an account. In the event of a lost package you take the money from that fund. You will end up putting more money in that you take out. This is because insurance companies set their rates to make sure more money goes in than goes out.

You can use UPS or FEDEX, but I hate dealing with the way they handle international clearance.

Another option is to use USPS with tracking number and buy insurance from a private provider like shipsurance.

APMEX is insured by Llyod's of London.

Once again (and hopefully for the last time) this is 100% INCORRECT.

USPS does insure bullion .... BUT ONLY IF SENT BY REGISTERED MAIL.

USPS "normal" (i.e. not registered) mail - Bullion NOT covered (well technically it is to a max of $15).
USPS registered mail - Bullion insured up to the declared value or a max of $25,000
FedEx - Bullion NOT covered.*
UPS - Bullion NOT covered.*

Can I purchase insurance with Registered Mail?

You must declare the full value of the mail piece when presenting it for mailing. Registered Mail may be sent without postal insurance only if the item has no value. Postal insurance is available in values of $0.01 to $25,000.00. The declared value of an item can be determined using the table below:


Item      Maximum Replacement Value
...
Money / Cash / Currency   -  Full value
...

Jewelry, Gems, Precious Metals - Market value

http://faq.usps.com/eCustomer/iq/usps/request.do?create=kb:USPSFAQ&view()=c%5Bc_usps04233%5D&varset(source)=sourceType:embedded#Can

Then again you are right insurance is usually not worth it.  Properly packaged the loss rate in mail is very low, much lower than the insurance premium.  Then again if someone is shipping say $20K they may not be able to afford a single $20K loss even knowing the odds are in their favor.  For most purchases (single gold coin, or a tube of silver coins) it usually doesn't make sense to insure it.


*Note both FedEx and UPS offer a special precious metals insurance programs which is only available to registered and bonded companies dealing with precious metals (mints, dealers, coin shops, auction houses, etc).  The average consumer can't purchase this coverage at any time or for any price so for all intents and purposes of this thread they aren't covered.  The standard FedEx and UPS insurance policies specifically (by name) exclude bullion.  Period.  They will not cover it.

[greyhawk]

At this point, with the OP continually advising to use Fedex when Fedex itself specifically excludes bullion, it becomes more and more likely OP is a Fedex employee looking for bullion to steal.

[Ilikeham]

I ship to the US by dropping off registered mail IN the US, though I ship mostly coins with numismatic value , they are insured, legally, under their own (USPS) guidelines.

Registered mail , no problem, insurance is good and I've made claims against USPS for a lost registered shipment of a two tubes of silver rounds. They paid. Wasn't a fast process, but they didn't ask any pointless questions, just coughed up the dough after matching it up. That the contents were two tubes of silver coins in .999 fine was never an issue, at all.

Fedex will insure shipments of bullion but it has to be negotiated into your shipment price schedule on an individual business basis. For the period of 2006-2010 I had my own agreement because I was shipping a lot of bullion. When I backed off that business I didn't renew the agreement because I didn't have the required volume. However I notice a BIG Canadian bullion dealer doing the same thing with Fedex I did. Fully insured, must be hand delivered and signed for, bug stickers warning employees they must get a sig etc...

That's my personal experience, I don't care what other people do however.