Joining ANA or PCGS & etc

Joining ANA or PCGS & etc

Post by Sandma » Sun, 20 Apr 2003 12:50:52



Is it worth joining these organizations?
 
 
 

Joining ANA or PCGS & etc

Post by Bob Peterso » Sun, 20 Apr 2003 12:52:46


ANA is open for membership to almost anyone willing to pony up the dues.

PCGS is business.


Quote:
> Is it worth joining these organizations?


 
 
 

Joining ANA or PCGS & etc

Post by AnswerMa » Sun, 20 Apr 2003 19:11:05


Well worth while, but spend some time at the ANA web site to see what we have
to offer. A new exhibit "Mountains of Money" opens in the ANA museum next week
and there will be pictures on the web site. I go an advance look at the display
as I came through Colorado Springs last Wednesday and it is well worth checking
out on the web site ( www.money.org )if you can't make it in person. PCGS is a
commercial firm that grades and authenticates coins.
If you have further questions, feel free to ask.
Regards,
Alan Herbert
Past ANA Governor and a candidate in this year's election.

 
 
 

Joining ANA or PCGS & etc

Post by JSTONE93 » Sun, 20 Apr 2003 20:48:59


Quote:

>PCGS is business.

They also have some kind of "collectors
club" where you can get discounts or
something. Opinions vary on if it is worth
it or not.
 
 
 

Joining ANA or PCGS & etc

Post by Phil DeMa » Sun, 20 Apr 2003 22:26:27


Quote:

>>PCGS is business.

>They also have some kind of "collectors
>club" where you can get discounts or
>something. Opinions vary on if it is worth
>it or not.

If you are not an eBay member (isn't everybody?) joining the PCGS Collector's
Club is the only way you can submit to them directly....without going through
an authorized dealer.

++++++++++
Phil DeMayo - always here for my fellow Stooge
When bidding online always sit on your helmet
Just say NO to counterfeits

 
 
 

Joining ANA or PCGS & etc

Post by Harv » Mon, 21 Apr 2003 00:33:53



Quote:

> Well worth while, but spend some time at the ANA web site to see what we
have
> to offer.

The coin collection insurance policy is definitely worth it..

Kids, unless you pay a very big premium on your coin/currency collection to
your homeowner's or renter's insurance policy company, your collection is
insured for a maximum of usually $250.00. Insurance companies look at
collectible coins as "money" and thus will insure it for face value up to a
small.. small? Tiny maximum and then you're screwed.. If you join the ANA
you'll get an application for their collection insurance which costs $1.00
per $100.00 of value with no deductible. So you can insure a $10,000.00
collection for $100.00 a year, and get full compensation for it if it is
stolen or something else really bad happens to it..

You have to individually declare any pieces that have a value of over
$5000.00, but otherwise you don't have to provide a detailed inventory, the
way I read the brochure.

The cost is $0.50 per $100.00 if you keep it in a safe deposit box at a
bank..

The value of the collection you declare is up to you.. you should still keep
an inventory anyway, and it would probably be a good idea to photograph it
all and store a copy of the photos (prints, CD-R, whatever).. off-premesis
somewhere..

Harv

 
 
 

Joining ANA or PCGS & etc

Post by Dogg » Mon, 21 Apr 2003 01:12:53



Quote:



> > Well worth while, but spend some time at the ANA web site to see what we
> have
> > to offer.

> The coin collection insurance policy is definitely worth it..

> Kids, unless you pay a very big premium on your coin/currency collection
to
> your homeowner's or renter's insurance policy company, your collection is
> insured for a maximum of usually $250.00. Insurance companies look at
> collectible coins as "money" and thus will insure it for face value up to
a
> small.. small? Tiny maximum and then you're screwed.. If you join the ANA
> you'll get an application for their collection insurance which costs $1.00
> per $100.00 of value with no deductible. So you can insure a $10,000.00
> collection for $100.00 a year, and get full compensation for it if it is
> stolen or something else really bad happens to it..

> You have to individually declare any pieces that have a value of over
> $5000.00, but otherwise you don't have to provide a detailed inventory,
the
> way I read the brochure.

> The cost is $0.50 per $100.00 if you keep it in a safe deposit box at a
> bank..

> The value of the collection you declare is up to you.. you should still
keep
> an inventory anyway, and it would probably be a good idea to photograph it
> all and store a copy of the photos (prints, CD-R, whatever).. off-premesis
> somewhere..

> Harv

I find it hard to believe the insurance company would just take someone's
word for the value of their collection. How hard would it be to say, "I had
a 1909-S vdb in MS-62 shape?" If you don't get greedy by saying it was MS-66
the red flags would not raise. Has anyone on this ng (or knows someone) that
has filed a claim, and had it paid without proof of ownership?

As I get farther into this hobby, I am considering joining the ANA and I've
also been talking with my insurance agent about getting insurance.Maybe I
can kill two birds.....

Ed

 
 
 

Joining ANA or PCGS & etc

Post by Harv » Mon, 21 Apr 2003 02:13:04



Quote:
> As I get farther into this hobby, I am considering joining the ANA and
I've
> also been talking with my insurance agent about getting insurance.Maybe I
> can kill two birds.....

> Ed

Just for giggles, ask your insurance agent how much he'd add on to your
policy premium (homeowner's or renters') for full coverage with no
deductible of a $10,000.00 coin collection in your home.. or in a safe
deposit box, and what his company's requirements would be vis-a-vis what the
collection consists of.. that is, would they want to inventory it in person,
take a list from you or what, exactly..

I'll bet that if you added such a rider to your existing policy you'd pay
ten times what the ANA's Insurance costs.. just a wild guess..

I'll grab the brochure.. the application simply asks for the value of your
collection but asks for an itemized value listing for "any single item
valued at more than $5,000 and any pair or set valued at more than $10,000."

Otherwise there's a line that says "Total value of collection for all items
valued under $5,000 ______________" but it does not ask for a line by line
inventory..

They also want to know if you have had any losses to your collection in the
past five years, if any Company has canclled, refused renewal or issuance of
any policy on your collection, and if it's currently insured, and by signing
and paying the premium you give them a right to do a background check on you
for such things as your "mode of living" and "mysterious losses." Doesn't
say anything about stool samples though ;) .. The application form is pretty
short and seems pretty straightforward..

Harv

 
 
 

Joining ANA or PCGS & etc

Post by SJCOHEN7 » Mon, 21 Apr 2003 04:47:04


Quote:
>Subject: Re: Joining ANA or PCGS & etc

>Date: 4/19/03 1:13 PM Eastern Daylight Time



>> As I get farther into this hobby, I am considering joining the ANA and
>I've
>> also been talking with my insurance agent about getting insurance.Maybe I
>> can kill two birds.....

>> Ed

>Just for giggles, ask your insurance agent how much he'd add on to your
>policy premium (homeowner's or renters') for full coverage with no
>deductible of a $10,000.00 coin collection in your home.. or in a safe
>deposit box, and what his company's requirements would be vis-a-vis what the
>collection consists of.. that is, would they want to inventory it in person,
>take a list from you or what, exactly..

>I'll bet that if you added such a rider to your existing policy you'd pay
>ten times what the ANA's Insurance costs.. just a wild guess..

>I'll grab the brochure.. the application simply asks for the value of your
>collection but asks for an itemized value listing for "any single item
>valued at more than $5,000 and any pair or set valued at more than $10,000."

>Otherwise there's a line that says "Total value of collection for all items
>valued under $5,000 ______________" but it does not ask for a line by line
>inventory..

>They also want to know if you have had any losses to your collection in the
>past five years, if any Company has canclled, refused renewal or issuance of
>any policy on your collection, and if it's currently insured, and by signing
>and paying the premium you give them a right to do a background check on you
>for such things as your "mode of living" and "mysterious losses." Doesn't
>say anything about stool samples though ;) .. The application form is pretty
>short and seems pretty straightforward..

>Harv

I have never had a claim with my ANA insurance, but, if I did, I believe they
want PROOF of your loss. (ie) Police Report, Confirmation of purchase of Coins,
etc. I took pictures of all my valuable coins in their PCGS holders and have
that filed away. It is good inexpensive insurance, but I have no doubt that if
you make a claim, you will have to prove the loss to their satisfaction. Anyone
else have experience with a loss?
 
 
 

Joining ANA or PCGS & etc

Post by Barry » Mon, 21 Apr 2003 04:59:39



Quote:
>>Subject: Re: Joining ANA or PCGS & etc

>>Date: 4/19/03 1:13 PM Eastern Daylight Time



>>> As I get farther into this hobby, I am considering joining the ANA and
>>I've
>>> also been talking with my insurance agent about getting insurance.Maybe I
>>> can kill two birds.....

>>> Ed

>>Just for giggles, ask your insurance agent how much he'd add on to your
>>policy premium (homeowner's or renters') for full coverage with no
>>deductible of a $10,000.00 coin collection in your home.. or in a safe
>>deposit box, and what his company's requirements would be vis-a-vis what the
>>collection consists of.. that is, would they want to inventory it in person,
>>take a list from you or what, exactly..

>>I'll bet that if you added such a rider to your existing policy you'd pay
>>ten times what the ANA's Insurance costs.. just a wild guess..

>>I'll grab the brochure.. the application simply asks for the value of your
>>collection but asks for an itemized value listing for "any single item
>>valued at more than $5,000 and any pair or set valued at more than $10,000."

>>Otherwise there's a line that says "Total value of collection for all items
>>valued under $5,000 ______________" but it does not ask for a line by line
>>inventory..

>>They also want to know if you have had any losses to your collection in the
>>past five years, if any Company has canclled, refused renewal or issuance of
>>any policy on your collection, and if it's currently insured, and by signing
>>and paying the premium you give them a right to do a background check on you
>>for such things as your "mode of living" and "mysterious losses." Doesn't
>>say anything about stool samples though ;) .. The application form is pretty
>>short and seems pretty straightforward..

>>Harv

>I have never had a claim with my ANA insurance, but, if I did, I believe they
>want PROOF of your loss. (ie) Police Report, Confirmation of purchase of Coins,
>etc. I took pictures of all my valuable coins in their PCGS holders and have
>that filed away. It is good inexpensive insurance, but I have no doubt that if
>you make a claim, you will have to prove the loss to their satisfaction. Anyone
>else have experience with a loss?

Who's to say what an individual coin is worth? Suppose you have a
monster toned coin which is today's market is worth considerably more
than the sheets. You're gonna convince some insurance pencil pusher
you can't go by CDN or Red Book?
Barry
--
Note - Remove the X from my e-mail address for direct replies
 
 
 

Joining ANA or PCGS & etc

Post by Dogg » Mon, 21 Apr 2003 05:13:35



Quote:



<snip>
> Just for giggles, ask your insurance agent how much he'd add on to your
> policy premium (homeowner's or renters') for full coverage with no
> deductible of a $10,000.00 coin collection in your home.. or in a safe
> deposit box, and what his company's requirements would be vis-a-vis what
the
> collection consists of.. that is, would they want to inventory it in
person,
> take a list from you or what, exactly..

<break>
I asked my agent and was quoted $10 per $1,000 of value. When I asked about
how I would prove what I own, she said a written inventory was fine. As I
pressed further to make sure if the time came for a claim would an inventory
suffice, she then said they (ins. co.) would want pictures. I wanted to take
pics with my digital cam and give them a CD, but they want regular photos of
the coins, 2 sets (one for the agent, one for the Ins. Co.). I told her I
didn't want to drop off a roll of coin pictures at the local photo developer
for someone working there to see what I have at the house. I guess I'll look
into the ANA.

Quote:
> I'll bet that if you added such a rider to your existing policy you'd pay
> ten times what the ANA's Insurance costs.. just a wild guess..

> I'll grab the brochure.. the application simply asks for the value of your
> collection but asks for an itemized value listing for "any single item
> valued at more than $5,000 and any pair or set valued at more than
$10,000."

> Otherwise there's a line that says "Total value of collection for all
items
> valued under $5,000 ______________" but it does not ask for a line by line
> inventory..

> They also want to know if you have had any losses to your collection in
the
> past five years, if any Company has canclled, refused renewal or issuance
of
> any policy on your collection, and if it's currently insured, and by
signing
> and paying the premium you give them a right to do a background check on
you
> for such things as your "mode of living" and "mysterious losses." Doesn't
> say anything about stool samples though ;) .. The application form is
pretty
> short and seems pretty straightforward..

> Harv

 
 
 

Joining ANA or PCGS & etc

Post by Jim Purcel » Mon, 21 Apr 2003 05:46:57



Quote:





> > > Well worth while, but spend some time at the ANA web site to see what
we
> > have
> > > to offer.

> > The coin collection insurance policy is definitely worth it..

> > Kids, unless you pay a very big premium on your coin/currency collection
> to
> > your homeowner's or renter's insurance policy company, your collection
is
> > insured for a maximum of usually $250.00. Insurance companies look at
> > collectible coins as "money" and thus will insure it for face value up
to
> a
> > small.. small? Tiny maximum and then you're screwed.. If you join the
ANA
> > you'll get an application for their collection insurance which costs
$1.00
> > per $100.00 of value with no deductible. So you can insure a $10,000.00
> > collection for $100.00 a year, and get full compensation for it if it is
> > stolen or something else really bad happens to it..

> > You have to individually declare any pieces that have a value of over
> > $5000.00, but otherwise you don't have to provide a detailed inventory,
> the
> > way I read the brochure.

> > The cost is $0.50 per $100.00 if you keep it in a safe deposit box at a
> > bank..

> > The value of the collection you declare is up to you.. you should still
> keep
> > an inventory anyway, and it would probably be a good idea to photograph
it
> > all and store a copy of the photos (prints, CD-R, whatever)..
off-premesis
> > somewhere..

> > Harv

> I find it hard to believe the insurance company would just take someone's
> word for the value of their collection. How hard would it be to say, "I

had  a 1909-S vdb in MS-62 shape?" If you don't get greedy by saying it was
MS-66  the red flags would not raise. Has anyone on this ng (or knows
someone) that has filed a claim, and had it paid without proof of ownership?
Quote:
> Ed

As I said before, I had to file a claim last year.  They had not required an
inventory prior to claim but did want copies of invoices to support the
claim.  However, I have to say that they simply took my word for several
coins I could not support by invoice.  As for claiming coins which you
didn't own, I guess that the adjusters realize that NO coin collector would
"EVER" exaggerate the quality or completness of their collection <grin>
JimP
 
 
 

Joining ANA or PCGS & etc

Post by Dogg » Mon, 21 Apr 2003 06:04:15



Quote:







<big snip>
> As I said before, I had to file a claim last year.  They had not required
an
> inventory prior to claim but did want copies of invoices to support the
> claim.  However, I have to say that they simply took my word for several
> coins I could not support by invoice.  As for claiming coins which you
> didn't own, I guess that the adjusters realize that NO coin collector
would
> "EVER" exaggerate the quality or completness of their collection <grin>
> JimP

LOL, I wonder how many monitors will get sprayed when reading that?

Ed