Lorenz claims he went to the Garden City post office, and asked the clerk what the safest way to ship the coin was. He showed the coin to the clerk and she said priority mail would be the best with $2,100 of insurance. As an extra precaution he also payed for signed confirmation.
Margaret Putnam, a manager with the USPS, says the only way to ship items like money or coins is through registered mail which is kept under lock and key.
"Our clerks know that if it's monetary or negotiable items they do suggest they send it registered mail not just insured."
Because Lorenz didn't ship it this way the USPS only payed him $20.15 for the coin ($15.00) and the envelope he used to mail it ($5.15). That amount doesn't even cover the insurance he paid on the coin which cost $24.65.
"When I saw $20.15...I was just beside myself," said Lorenz.
He claims the clerk never even mentioned registered shipping as an option and said he would have used it even though it cost more. Worst of all he believes the coin was stolen at some point during the delivery.
The envelope he used to ship made it to it's destination, but the buyer refused to accept it because it had been cut open on the side with nothing left inside.
"It's not like it just dropped and there is a little hole or something tore off or something I mean this has been slit open," said Lorenz
Lorenz said he packed the coin while standing at the checkout, and then handed it to the clerk to be sent off. Now he only has one appeal left which will be handled by a postal office in Washington DC. Whatever they decide will be a final decision.
He has shipped several less valuable coins through the mail without any issues, but can't understand why this coin never made it.
"Not only did I get the wrong information about how to protect myself from this, but the coin was stolen while in the property of the postal service."