USPS INSURANCE CLAIM HELP 0

[Spink]

CGC recently sent me a graded 3.5 copy of Tales of Suspense #39 (1st appearance of Iron Man). ComicsPriceGuide.com lists the value around $1920. Recently the comic with equal or lower grades has sold on eBay for closer to $3500. I insured the comic for $2000. It was sent to me by CGC as USPS Registered Mail. It was "delivered" to my front porch, signed for by a USPS mail carrier, and was stolen soon after from the porch. I live in busy Los Angeles, where there is a high crime rate for petty theft, etc. The local Post Office manager admitted that the USPS was at fault, that my mail carrier under no circumstances should sign for something on my behalf and leave a parcel on my front porch, especially something insured for 2K under registered mail. But in order to process an insurance claim the USPS requires "proof of value" for my stolen item. According to the USPS, "the amount claimed must be supported by acceptable proof of value showing completion of payment, such as dated sales receipt, money order, credit card statement, a copy of the front and back of a cancelled check or proof of completed internet payment transaction, indicating the actual amount paid." Seeing as I've owned this collectable comic since a child, and I simply sent it to CGC to get graded, how do I provide an acceptable proof of value to have a successful claim to the USPS? What should I do? Thanks!

Edited January 3, 2017 by Spink

[jsilverjanet]

Sorry to hear this. Do you have a serial number for the book. It may help in finding the lost book or help in identifying it if the thief is attempting to sell to local dealers

[kav]

USPS: purchase price is no kind of indicator for the value of something you nimrods. If your great great great great etc grandfather bought a Da Vinci for $5, that does not mean it is worth $5. I wish you would understand this.

[MadGenius]

Unfortunately, I foresee this being a long, arduous process that may not resolve completely in your favor. Your options are either find a completed sale on eBay or another site for the book in the same grade or perhaps an appraisal from a dealer would suffice. Either way, I think USPS will try to give you a hard time regarding the proof of value under these circumstances because they suck.

 

Sorry this happened. It won't help in this situation, but a personal Collectibles Insurance policy would be much easier to collect from than USPS.

[kav]

Shouldnt a print out from ebay of the completed purchase attached to the tracking number be enough for these dolts?

[thehumantorch]

Sorry to hear of your loss. So disappointing that a book you've owned so long gets stolen due to USPS negligence.

 

Clearly there's no way to produce a sales receipt or similar proof of value. I'd talk to USPS again and explain the situation and ask if they'd accept a copy of the CGC invoice establishing grade, combined with auction results or an appraisal statement from an established professional dealer establishing value based on the CGC grade. And if they give you the run around ask to talk to a higher level of customer support.

 

 

[aszumilo]

USPS: purchase price is no kind of indicator for the value of something you nimrods. If your great great great great etc grandfather bought a Da Vinci for $5, that does not mean it is worth $5. I wish you would understand this.

 

The Post Office will see it differently. If it was insured for $1950, then that is probably all he will get from the P.O., regardless if it went up in value.

[Par2ch]

Maybe a printed screenshot from GPA showing the value of the book, OR completed Hertiage/ComicLink/eBay sales of the book in that grade?

[MadGenius]

Shouldnt a print out from ebay of the completed purchase attached to the tracking number be enough for these dolts?

 

It would, but this wasn't a purchase. Just a book he sent to CGC for grading that was stolen upon its return.

[MadGenius]

Maybe a printed screenshot from GPA showing the value of the book, OR completed Hertiage/ComicLink/eBay sales of the book in that grade?

 

This might be your best bet. Hopefully the GPA data will suffice.

[kav]

CGC should maybe have a blurb on the submissions page about using collectibles insurance rather than USPS.

[jaybuck43]

Just print out this list of past sales from Heritage as to the value of the book. Just realize, since you only insured it for $2000, that's all you will get back, even if all the proof is much higher.

 

https://www.ha.com/c/search-results.zx?N=0+790+231&Ntk=SI_Titles-Desc&Nty=1&Ntt=tales+of+suspense+39+cgc+3.5&ic4=KeywordSearch-A-K-071316

[kav]

So if you insure something for $2000, you'll get less if you cant prove it but if its worth more, you wont get that. Sliding scale always goes in their favor.

[jaybuck43]

Correct, it's there to make sure you don't try to scam the USPS (say by buying $5000 worth of insurance on a $5 book and hoping it gets lost (and costing them $4900+) It's also why you should NEVER send books back via UPS because CGC only covers $100 via UPS.

[kav]

Correct, it's there to make sure you don't try to scam the USPS (say by buying $5000 worth of insurance on a $5 book and hoping it gets lost (and costing them $4900+) It's also why you should NEVER send books back via UPS because CGC only covers $100 via UPS.

There should be some consideration for postal worker just signing for stuff and dropping it where it lay though to be fair.

[jools&jim]

 

CGC grading fees are pegged to the value of the book, right? So maybe CGC itself can supply some data...

 

 

[thehumantorch]

So if you insure something for $2000, you'll get less if you cant prove it but if its worth more, you wont get that. Sliding scale always goes in their favor.

 

How ironic considering this book was lost due to negligence of their employee and the creator of this thread appears to have done everything right.

[kav]

So if you insure something for $2000, you'll get less if you cant prove it but if its worth more, you wont get that. Sliding scale always goes in their favor.

 

How ironic considering this book was lost due to negligence of their employee and the creator of this thread appears to have done everything right.

Yep they hold you to a strict set of guidelines themselves not so much.

[Kevin76]

First of all, Start using UPS to have your packages from CGC mailed to you from now on.

 

Second, Print off any CGC invoice with the book graded on the invoice

 

Third, Print off a few recent ebay/heritage sold auctions from recent past

 

Fourth, Take it all to the Post Office and talk to the person in charge of claims, that person is key because they are the eyes and hears for headquarters aka The person who gets HQ to cut you a check.

 

Also bring the print out of the tracking information with the postal carrier's signature on it for proof that you didn't sign it.

 

I've been through this PO insurance claim before.

 

You should be expecting a $2000 check from the post office, just takes some time.

[jools&jim]

 

Take it from an old Post Office clerk: USPS Registered Mail is a "maximum security" service.

 

Unless you called your local PO branch directly and made other arrangements, left a signed note, or signed a release of some sort, NOBODY other than the recipient (you!) should have been able to sign for this package.

 

Press the USPS on this, get CGC involved (since they shipped it), and threaten legal/law enforcement action against the USPS or the carrier if necessary.

 

This isn't "negligence" -- it's a willful and possibly criminal violation of the contract, on the part of the USPS, which CGC entered into when it sent the package via Registered Mail...