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HeavyT

Posting gold from UK to another country

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Is there anyone here from the UK who posts gold coins other countries?

Apparently Royal Mail and Parcel Force won't insure a parcel if it contains gold!!! It's a particularly big risk to take if you're sending coins that are worth over £1000. 

Just wondering which other companies are used by UK-based members to safely send international parcels containing gold.

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Malca does insure you for about £40 for up to $2000 value but only within Europe. For the US you would need an export license first. Still wondering if PayPal insured precious metals and coins if paid as a commercial invoice. 

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Hi all, I use Parcel force when sending my gold coins to NGC in Sarasota, Florida. I do this via the post office as they offer a slight discount normally around £38!

Gold is exempt on the insurance cover small print but I've not had any issues in the past and its totally tracked. I've sent GBP10,000 in one shipment before, and I' ve made a few. 

If you're still not at ease, maybe Fedex would be the best way but it would come at more of a cost.

Harry

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Thanks, Harry.

Sending £10k worth of uninsured gold is an incredibly big risk to take! I appreciate that you've never experienced any problems before but all it takes is a mix-up in the system somewhere such as delivery to wrong address or a thieving postman and the damage is done; Parcel Force will refuse any claims and your gold/money is basically lost for forever!

For me to replace any lost gold will also cost a lot more as much of mine was bought a while back at really competitive prices so replacing rare coins won't be easy and will be very expensive..

Unfortunately, it seems that FedEx only cover gold coins that are under £2k for residential deliveries so that wouldn't work for lot of my gold coins.

I don't mind paying extra for complete peace of mind. There must be some organisation that provides adequate cover.

 

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Thanks, Augur. It seems there's multiple hoops to jump through with Malca e.g. they want copies of passport, references, EORI number etc. And then the price is ridiculously high, told to expect to pay around £400 to insure a coin with the value of £5000. I was thinking around the £100 mark for shipping would be my limit, anything over that is way too much.

I wonder which service Auction Houses use, they ship high value coins internationally all the time but I don't expect they would anywhere near £400.

At least FedEx is an option for stuff under £2k but a lesson here is that if you collect numismatic coins worth more than £2k, need to bear in mind that selling them in the international market is a challenge unless customer can visit you to collect in person! Otherwise, you just have to find local customers in a much smaller marketplace, which takes time :(.

 

 

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Auction houses use Malca but bundle several items into a large shipment and then use their local platform to redistribute.

You can always make a trip cross the channel and post within Europe... will be worthwhile when shipping several coins or sell via auction houses. 

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I'm wary of auctions after losing money on eBay so won't be keen to use auction houses, plus I'd be charged 20% of sale price.

Augur mentions posting from Europe, does this mean European postal services insure gold coins? Popping over to Dover for the day might be worthwhile :)

Edited by HeavyT

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