Coverage requirements
Coin & Precious Metals Dealers
Last updated August 2026 · Maintained and reviewed by the Advocate Insurance Consultants coverage research team.
Overview
What an adequately protected Coin & Precious Metals Dealers program looks like
Coin and bullion dealers specialize in rare coins and precious metals. Crime and inland marine are the leading exposures, both tied to the theft of valuable coins and gold by employees or criminals. Spanning Auto Liability, General Liability, Worker's Compensation, Fidelity Bond, Physical Property among other essential lines, this Advocate Standard profile pegs its limit, deductible, and carrier-quality benchmarks to the exposures coin & precious metals dealers genuinely face.
Key takeaways
- Spans 255 published requirements across 40 coverage type-peril pairs.
- Applies to 3 asset types: Commercial Warehouse, Retail - Generic, Retailer.
- Covers 14 coverage types and 14 distinct perils.
At a glance
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Completion score
9 of 40 WIM pairs required
Coverage tower
Required limits by coverage type and peril
Requirements
Full requirement set for Coin & Precious Metals Dealers
Every requirement in the Advocate standard, 255 rows across limits, deductibles, carrier rating, and presence checks. Search and filter to drill in.
Showing 50 of 255 matching · 255 total
Compliance
Who requires Coin & Precious Metals Dealers
- Landlords in high-security retail centers routinely make general liability and property coverage a lease condition before a bullion dealer takes occupancy.
- Wholesale suppliers and refiners extending consignment metal expect proof of inland marine and crime cover naming them on shipments.
- Banks financing vault build-outs or the coin inventory itself want their interest recorded on property and business personal property schedules.
- Coin shows and numismatic associations frequently require dealers to carry liability and transit coverage before granting booth space.
- Because employee handling of gold and rare coins drives the loss picture, fidelity bonding is often a precondition for participating in dealer networks and auction consignments.
Carrier standard. Carrier must have AM Best rating >= A- and size >= VII.
Advocate runs these checks automatically for the brokers who place retail coverage.
Exclusions
What Coin & Precious Metals Dealers does not cover
- The present lineup pairs inland marine with a fidelity bond, but the fine print governs recoveries.
- Inland marine forms commonly cap coverage while coins are in transit, in a personal vehicle, or off-premises at a show unless those situations are scheduled by name.
- Mysterious disappearance and shortage discovered only at inventory count are frequently excluded or sublimited.
- The fidelity bond typically excludes losses tied to trading or investment fraud and any theft the owner participated in.
- General liability will not answer for the value of stolen merchandise, and a standard property form excludes theft of precious metals above modest sublimits.
- War, nuclear events, and voluntary parting induced by a con artist also fall outside recovery.
Risk advisory
Typical coverage gaps in Retail
Coin and precious metals dealers should confirm the inland marine limit tracks true replacement value at current spot prices, since a gold rally can leave scheduled amounts badly under-insured within weeks.
- Add transit and off-premises extensions sized for the largest single show or courier movement, and verify whether armored-car versus personal-vehicle transport changes the sublimit.
- Because insider theft is the dominant threat, raise fidelity bond limits and extend them to temporary or seasonal staff.
- A jewelers block or specie form often fits this trade better than a generic property policy.
- Consider cyber liability where customers pay by card or buy online, and evaluate business income cover that reflects a forced closure after a vault breach.
- Finally, document authentication and safe procedures, because carriers reward alarm certification, dual-control counting, and time-delay safes with broader terms.
FAQ
Frequently asked questions
What insurance does a coin and bullion dealer need?
A coin and bullion dealer typically combines inland marine or a specie form for the metals inventory, crime and fidelity coverage for theft and employee dishonesty, general liability for the storefront, and property coverage for the building and fixtures. Transit coverage for shows and shipments and cyber liability for card and online sales round out a complete program.
Does business insurance cover stolen gold coins?
Only the right form does. Standard property policies sublimit or exclude theft of precious metals, so recovery usually depends on an inland marine or specie policy written for scheduled value. Read the transit, off-premises, and mysterious-disappearance terms closely, because each can limit what a dealer collects after a loss.
Why do coin dealers need a fidelity bond?
Employee handling of high-value coins and bullion makes internal theft one of the largest exposures in the trade. A fidelity bond reimburses losses from employee dishonesty that a property or liability policy will not pay. Dealer networks and consignment partners often require one before extending inventory.
How much does coin dealer insurance cost?
Premiums track inventory value, vault and alarm security, transit frequency, and claims history rather than a flat rate. A dealer carrying large bullion stock and traveling to shows pays more than a fixed-location shop with a certified vault. Strong controls like dual-control counting and time-delay safes help lower the cost.
Benchmark-driven advice.
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