Receipts/Proof of ownership & insurance/provenance

[Oxford_Collector]

Hi - something I was just wondering about, I realised that at the London Coin Fair, I only actually got a receipt for one of the coins that I bought (I guess I should have asked for a receipt in each case - is this usual?), and certainly for quite a few other coins that I've bought in the past, I don't have any kind of receipt for these either, or if I do, if doesn't necessarily say which coin the receipt is for.

Anyway, I was wondering if this could potentially create a problem is I ever need to claim on my insurance for stolen coins, for example? Apart from the obvious, e.g. keeping a list of coins purchased, including date of purchase, how much paid and who bought from, as well as photographs of each coin, how can I prove that I owned any coins which might get stolen?

e.g. Should the photographs I take of the coins include my name somewhere in them, for example, and/or some proof of the date the picture was taken (e.g. the traditional "reasonably current newspaper front page"??) or is that overkill?

For coins bought on eBay, at least, I have some kind of "paper trail" which I guess could help. I guess in future I should always ask for receipts and ask the seller to specify the actual coin(s) bought on them. This would also be nice, perhaps, as a provenance record, if the coins were bought from a known reputable dealer, and may help if selling them too.

I was just wondering what others do as regards receipts and records for insurance and/or provenance?

[Peckris]

Hi - something I was just wondering about, I realised that at the London Coin Fair, I only actually got a receipt for one of the coins that I bought (I guess I should have asked for a receipt in each case - is this usual?), and certainly for quite a few other coins that I've bought in the past, I don't have any kind of receipt for these either, or if I do, if doesn't necessarily say which coin the receipt is for.

Anyway, I was wondering if this could potentially create a problem is I ever need to claim on my insurance for stolen coins, for example? Apart from the obvious, e.g. keeping a list of coins purchased, including date of purchase, how much paid and who bought from, as well as photographs of each coin, how can I prove that I owned any coins which might get stolen?

e.g. Should the photographs I take of the coins include my name somewhere in them, for example, and/or some proof of the date the picture was taken (e.g. the traditional "reasonably current newspaper front page"??) or is that overkill?

For coins bought on eBay, at least, I have some kind of "paper trail" which I guess could help. I guess in future I should always ask for receipts and ask the seller to specify the actual coin(s) bought on them. This would also be nice, perhaps, as a provenance record, if the coins were bought from a known reputable dealer, and may help if selling them too.

I was just wondering what others do as regards receipts and records for insurance and/or provenance?

In a world of "we hate giving receipts", those details are good enough ffor most insurance companies. Most of us don't collect coins where provenance is even remotely an issue. However Rob's your man for that subject.

[Oxford_Collector]

In a world of "we hate giving receipts", those details are good enough ffor most insurance companies. Most of us don't collect coins where provenance is even remotely an issue. However Rob's your man for that subject.

Its probably not an issue for most of my coins, but, for example, I've been told there are counterfeit Gothic florins around, so if I was to obtain any of these (which I would probably only do through a reputable collector or dealer), then it could be useful to show where I acquired them from.

[argentumandcoins]

Your insurance against theft should be your own records. If you want belt and braces have your collection valued every year or two by a reputable dealer. A written valuation as to market value should help if the worst case scenario does happen, but bear in mind that your insurers will want to settle for the smallest sum they can!

[Gary D]

Your insurance against theft should be your own records. If you want belt and braces have your collection valued every year or two by a reputable dealer. A written valuation as to market value should help if the worst case scenario does happen, but bear in mind that your insurers will want to settle for the smallest sum they can!

Your insurer will also require any coin valued over £500 or £1000 depending on the insurance company, to be listed seperately. I get my few revalued every year.

[Oxford_Collector]

Your insurance against theft should be your own records. If you want belt and braces have your collection valued every year or two by a reputable dealer. A written valuation as to market value should help if the worst case scenario does happen, but bear in mind that your insurers will want to settle for the smallest sum they can!

Your insurer will also require any coin valued over £500 or £1000 depending on the insurance company, to be listed seperately. I get my few revalued every year.

Good point - I only have a few that would come into that category, but its worth knowing about...