Q:

How do you insure the value of a collectible 1922 Liberty dollar?

A:

Quick Answer

Insure the value of a collectible 1922 Liberty dollar by contacting an insurance agent and setting up an insurance policy. While some specialized insurers of rare items such as collectible coins exist, virtually any insurer can provide a policy for a 1922 Liberty dollar. The amount your policy covers, as well as the cost of your payments, depends on a variety of factors.

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Full Answer

The condition of a collectible 1922 Liberty dollar has a very large impact on both the price of the policy and the amount of coverage it provides. For instance, a policy for a damaged, tarnished coin has a much lower price than one for a glistening 1922 Liberty silver dollar in literal mint condition.

The location where you keep your 1922 Liberty dollar also has a large impact on the cost of your insurance policy. A coin kept in a safe in your home is not in a very secure location, and insurance companies charge higher rates accordingly. However, if you keep your coin in a safety deposit box in a reputable bank, the chances of the item being stolen or damaged are much lower, and you can enjoy lower monthly insurance premiums for the same amount of protection.

Aside from these normal types of insurance, many companies also provide special types of temporary insurance. For instance, while a normal policy does not cover coins in shipment or being carried to a convention or show, a special travel policy does.

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