Advice on posting silver coins

[graham200666]

Hello all,

i am thinking of selling some or all of my silver coins and would use royal mail SD.

When they ask what is being posted do i tell them it is silver coins?

I am worried that if they mark on it what is in the package and the value it could become a target for theft.

If and when i sell i will be posting tubes of 20 or 25 coins.

I want it to be fully insured so do not want to mess up and give them an excuse for not paying out if anything happens.

Never had problems with SD before but never posted silver bullion.

Thanks in advance and kind regards.

[Clockpuncher]

You're dealing with the Royal Mail, it will all be fine. They don't mark it on your SD packet, it just goes on their internal system and is also to ensure you're not sending anything on the prohibited items list.

Be absolutely honest when they ask to ensure record on their system 'silver coins' <-- avoids giving them an excuse to not pay out on the insurance if something goes wrong.

Ensure you buy the right amount of insurance - for a tube of 25 silver 1oz coins you will want the £1000 cover rather than the standard £500. Note its item value cover you want, not consequential loss cover.

Ensure you wrap your parcel up very well (for tubes, I often use a small jiffy, inside a bigger jiffy, inside a Royal Mail Special Delivery silver bag (free from post office). I write the address on both the main RMSD silver bag and the outer Jiffy bag. Depending on the type of tube you're sending, you may also want to pack a bit of tissue in the top of the tube to avoid the coins rattling in transit, and tape the lid of the tube down securely.

Happy selling!

Edited April 29, 2021 by Clockpuncher

[sovereignsteve]

No need to report the contents unless they ask, but I've never known them do so, and I've posted many dozens of SD parcels.

Just make sure the insurance cover is adequate for the value of the contents and that you can justify/prove it. Don't under or over estimate.

[Clockpuncher]

Just now, sovereignsteve said:

No need to report the contents unless they ask, but I've never known them do so, and I've posted many dozens of SD parcels.

Just make sure the insurance cover is adequate for the value of the contents and that you can justify/prove it. Don't under or over estimate.

They ask me most times I send an SD parcel - probably got a particularly diligent post office worker!

[sovereignsteve]

1 minute ago, Clockpuncher said:

They ask me most times I send an SD parcel - probably got a particularly diligent post office worker!

What would you be sending by SD that's on the prohibited list?

[VelociteeSteel]

If the PO accept the package you are insured, my PO don't always ask what's in the parcel but just make sure you are covered for the insured amount would be my advice....

As an added, photograph the package with address label and make sure the package is secure, ie use lots of tape. I always message/post a picture of the package to any TSF buyer and confirm the tracking.

[Clockpuncher]

11 minutes ago, sovereignsteve said:

What would you be sending by SD that's on the prohibited list?

😅just gold and silver on my part

I think their main concern is about batteries and flammables - don't want their vans going up in flames!

see: https://www.royalmail.com/sites/default/files/royal-mail-prohibited-and-restricted-items-nov-23-2018---23410530_updated April 19.pdf

Edited April 29, 2021 by Clockpuncher

[stefffana]

I've sent several times and every time I've been asked what is inside. Always I've told them the truth: silver coins, bars, gold jewellery and so far so good.

I am more confident telling the truth and being recorded into their system. I prefer to stay safe. The value of insurance should cover the real value and if possible a 25% premium. Just in case 😁.

[graham200666]

Many thanks for all your advice which i will follow.

I have  used SD many times but never for silver. Oh and they have always asked me what im sending and have always been honest but cant help feeling nervous.

 

[Stacktastic]

Buy and print it out at home they dont ask in my post office. You can get home collection although they did not turn up the one time I used it.
Lockdown though. I have sent stuff via Hermes also especially larger amounts of silver as its heavy. SD best though, especially for gold. 

[graham200666]

16 minutes ago, Stacktastic said:

Buy and print it out at home they dont ask in my post office. You can get home collection although they did not turn up the one time I used it.
Lockdown though. I have sent stuff via Hermes also especially larger amounts of silver as its heavy. SD best though, especially for gold. 

I would only think about using Hermes for very large amounts of silver as with the weight they would struggle to throw onto the garage roof.

[Lucylucy]

The Hermes site says that gold/silver is on their non compensation list. Does that make it unsafe?

[SilverJacks]

Does anyone have advice on posting lesser value items, like 1 ounce silver for example? SD costs don't seem viable for such parcel value but then you're not insured for bullion with "Signed For" service.

I have in the past used signed for without any issue but I do wonder if there's better options...

[stefffana]

48 minutes ago, SilverJacks said:

Does anyone have advice on posting lesser value items, like 1 ounce silver for example? SD costs don't seem viable for such parcel value but then you're not insured for bullion with "Signed For" service.

I have in the past used signed for without any issue but I do wonder if there's better options...

1st class signed for is covering up to £50. It is enough for 1oz silver.

Cheers!

Stefan.

[stefffana]

1 hour ago, Lucylucy said:

The Hermes site says that gold/silver is on their non compensation list. Does that make it unsafe?

I've had some issues in the past with Hermes. Also, you can check online their feedback history and you will be scared. This is the reason I'm using in Uk only Royal Mail. When I am sending in another country, DHL.

[sovereignsteve]

2 hours ago, SilverJacks said:

Does anyone have advice on posting lesser value items, like 1 ounce silver for example? SD costs don't seem viable for such parcel value but then you're not insured for bullion with "Signed For" service.

I have in the past used signed for without any issue but I do wonder if there's better options...

 

2 hours ago, stefffana said:

1st class signed for is covering up to £50. It is enough for 1oz silver.

Cheers!

Stefan.

In theory this is adequate but precious metals and coins are specifically excluded from insurance in their T&C.
Some people have reported being paid out no problems but others have had no joy claiming for their loss.
A bit hit and miss, it seems, so as long as you go into it with eyes wide open, you know where you stand.

[Arganto]

Cheap post is great for lower value items (the Post Office is pretty on point compared to the old days), but don't expect to get paid out if it gets lost. If they ask me what's in a special delivery package I always say "collectibles" and affirm the insurance coverage value is correct. All I will say is ensure whatever is packaged is done in such a way that it's not obvious what's inside. It helps protect the contents if it's wrapped well anyway.

[Chrissyblards1]

On 29/04/2021 at 22:06, graham200666 said:

Hello all,

i am thinking of selling some or all of my silver coins and would use royal mail SD.

When they ask what is being posted do i tell them it is silver coins?

I am worried that if they mark on it what is in the package and the value it could become a target for theft.

If and when i sell i will be posting tubes of 20 or 25 coins.

I want it to be fully insured so do not want to mess up and give them an excuse for not paying out if anything happens.

Never had problems with SD before but never posted silver bullion.

Thanks in advance and kind regards.

Someone said something on here a while back about what to say when you’re posting coins etc incase they get lost or stolen and they said tell the person at the counter is that they are collecter coins like antique otherwise they won’t cover certain things like bullion. Don’t quote me on this though but it’s what I will say when I post things. Good luck.