Whether you perceive the coin collection as an investment or simply as a pastime, sooner or later the number of bullions as well as their overall value will increase to a substantial amount. In turn, this entails that – as a responsible collector – you need to be prepared for their potential loss, be it accidental, theft related or purposely inflicted by a third party. Keep in mind that you have invested a great deal of your effort, time and hard earned cash into setting up the collection. Since you probably don’t fancy the idea of seeing it disappear in one swift moment of carelessness, we recommend considering an insurance policy.

But… isn’t my collection covered by the home insurance policy?

Yes and no, or rather the answer to that question depends on the size and value of your bullioncollection. To put it simply, every insurance policy differs slightly and so does the maximum amount of cash you are entitled to receive in the unfortunate event that your coins are lost or destroyed. In most cases, for standard policies the limitation is set at $200, which – depending on the number of coins and their individual worth – may or may not represent sensible compensation. Basically, what we’re saying here is that while the home insurance policy constitutes a reasonable coverage for the needs of a novice numismatist, it’s certainly not the best means of protection for an extensive coin/bill collection.

What can you do to maximize the levels of protection?

Two things actually:

• Negotiate the coverage limitations with the insurance company.
• Verify whether or not the policy contains exclusions that would deem you ineligible for the