Proof of ownership for coin/silver collection?
I have a few coins that my mother gave to me as part of a collection. There are a few pre-1965 things, a Morgan dollar, etc, all in very poor condition. The bulk of the collection is in 1 oz silver coins and a few silver bars. I just noticed that my homeowners insurance covers only 200 dollars of things like that, so I have taken out an extra insurance policy (also had to get one to cover firearms). However, they demand proof of ownership in case of a claim, which seems reasonable. The thing is, I didn't buy these. My mother purchased them decades ago and has no receipt. The silver doesn't need to be appraised, it's just silver and is worth what silver is worth.
Are pictures of the entire collection acceptable as proof of ownership? At least with the firearms, I had serial numbers and receipts. What else should I do to make sure I am covered?
Thanks!
Proof Silver Coins Ending Soon on eBay:
 | US $9.99 (0 Bid) End Date: Thursday Sep-09-2010 18:45:16 PDT Bid now | Add to watch list |
 | US $18.85 (0 Bid) End Date: Thursday Sep-09-2010 18:47:26 PDT Bid now | Add to watch list |
 | US $325.00 (12 Bids) End Date: Thursday Sep-09-2010 18:48:56 PDT Bid now | Add to watch list |
Mail this post
Comments
3 Comments on Proof of ownership for coin/silver collection?
-
dusty_titus on
Thu, 3rd Dec 2009 5:33 am
-
MSAD on
Thu, 3rd Dec 2009 6:33 am
-
mbrcatz on
Thu, 3rd Dec 2009 7:15 am
Your logic may be impeccible – but why not be sure and ask a “different” insurer?
Take photos of each item.
You will also need to take them to an appraiser and have them valued.
If they are coins, then you need to take them to a numismatist (coin and paper money expert). You will need to get a written appraisal of each item.
Give the written appraisal and the photos to your agent.
You need to go get a written appraisal, describing anything, including the exact weight of the junk silver.
Then take photos of you holding them.
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!