Selling old paper money - how do you ship?

Hi there. 

 

I've been given a bunch of old paper money to unload from my In-laws and am looking at the best options on selling them.    I'm considering ebay, as that sees to be highest return, but I am not a power seller and I am not a store.  Some items are bulky (ie 2 packs of 100 sequential $2 bills, over 100 1967 dollar bills) or high dollar values (1954 $1000 bill w/devil face). Obviously, going to a local coin/currency dealer will be easiest,  but would get nowhere near values on here.  I just tried one place that was doing free appraisals (more specialized in jewelry, it seemed) and was told to just send the $1 and $2 bills back to the bank for face value and was offered $1200 CAD for the $1000 note (in very good condition and I see they have sold for up to $2-3k USD).

 

Anyway, my question is, if I go the ebay route, how would I ship bulky or high $ value money (I would ship only to Canada/US)?   I understand power currency sellers can ship small $ items in a letter and factor in some loss if 1 in 100 go missing, but what do they do with bulkier or high $ items, and how do you mark it for customs?  I don't really want to mark it as currency, as that's just asking for it to go missing, but how do you ship/declare/insure such items?

 

Any help or suggestions would be much appreciated.  Thanks in advance.

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Selling old paper money - how do you ship?

but I am not a power seller and I am not a store.

You can list up to 200 items Free without either of those.

Stores are useful for sellers who have more than 200 unique items or whose products are likely to be slow sellers. (I sell books on another ID, and recently shipped a book that had been on my shelf for over eight years.)

Do NOT start with your high value items.

There is a steep learning curve and it is best to mess up on something that will not affect your pocketbook.

 

how would I ship bulky or high $ value money 

Canada Post/USPS is very reliable.

We ship high value auction lots (from our public auction, nothing to do with eBay) and our choice is the postal system.

https://www.canadapost.ca/information/app/far/business/findARate?execution=e1s1

Priority Post is fastest and probably most secure. It is also the most expensive and rates are zonal not just dimensional.

Most sellers use Expedited, which is not on that website.

You should get a Solutions for Small Business number

https://www.canadapost.ca/cpc/en/business/small-business.page?

which gives access to that service as well as some small discounts on rates.

You don't need to be a business. Use the number to ship birthday presents, if you want, Canada Post is not that interested.

 

Most parcel services are tracked and you will want to use a tracked service. 

If the value, including shipping is over $650 you will need Signature Confirmation.*

 

and how do you mark it for customs?

US residents can import up to $800USD without duty. And of course there are no import fees for Canadian sales.

When you print a shipping label through SnapShip (Canada Post), Paypal , or Shippo, the customs information is automatically filled in.

I don't really want to mark it as currency,

An HS number is useful, but not yet required. The HS number for currency seems to be 49070020.  It is better, in my opinion, to change the title on the label to "notes"  and add the HS number than to leave it as "$1000 bill". On general principles. 

The carrier is unlikely to steal it or rifle it, because she has a well-paid job, security, health benefits and a good pension. It's just not worth her while. Plus of course the tracking. But suspenders and belt.

 

Sellers with more knowledge of numismatics will have better advice.

Also.

Condition, condition, condition.

 

 

 

*COVID problem. The carrier will not get the signature from the buyer at the door (at the PO counter is another question) for health and safety reasons. But eBay will accept the carrier's word ONLY if the Signature option is purchased. Most services include Signature, but if it is optional the rate is $1.75 or so and worth it.  This is a cobbled solution to a temporary problem.

 

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Selling old paper money - how do you ship?

Thanks very much - some good insight there I'll have to consider.

I actually just contacted Canada Post and they said you cannot insure currency and basically you are 'shipping at your own risk'.  I'll have to dig a little deeper first before I dive in.  And yeah, the Covid situation doesn't help, either.

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Selling old paper money - how do you ship?

your lots of 100-2$'s, and 1$, you could sell them in lots of 50 bills. send them between 2 stiff pieces of cardboard, and in a bubble mailer. you can send them expidited in Canada and tracked packet in the USA..  And keep in mind ebay and paypal demand a signature for orders, over 750$, so at least if you have it on your reciet it is not your fault, if the postal employee doesn't collect it.

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Selling old paper money - how do you ship?

I'm not convince postal insurance is of any use in any case.

Your best Seller Insurance is that tracking number because the two kinds of Disputes we get on eBay are Not Delivered which is disproven by the Proof of Delivery (or Signature Confirmation of Delivery)  and Not As Described, which is more likely to be a claim that a wad of newspaper was sent or that the customer only got 49 bills instead of the 50 advertised.

Neither of which is covered by postal insurance.

 

Canada Post allows currency to be mailed. They just won't insure it. There are third party insurers  who will. shipsurance.com is one.

 

Currency if you squint your eyes and hold your tongue the right way is "documents" and it's best that the post office (and any porch pirates) can't easily spot that something valuable is being sent.  Again - that could be as simple as marking the customs form as "notes" with the HSnumber in case they are randomly checked by US customs.

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Selling old paper money - how do you ship?

Isn't the biggest theft problem from stating the value on the customs form? 

Thanks G

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Selling old paper money - how do you ship?

Hi everyone,

 

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread if you wish to continue to discuss this topic.

 

Thank you for understanding.

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